Robinhood launches 3% checking account

Re:Robinhood launches 3% checking account by deminature on Thursday December 13, 2018 @02:38PM (#18675297)

Millennials may not have money now, but they'll accumulate more wealth as they get older. If you can convert them now, the friction to changing again is high enough that you'll probably still have them when they're worth something.

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Re:Robinhood launches 3% checking account by rchaud on Thursday December 13, 2018 @05:29PM (#18676729)

That's a good point. A friend of mine in medical school told me that banks are itching to give loans to broke med school students because they know building the relationship now is going to pay dividends when the now-broke student becomes a doctor looking to buy a new car or new house.

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Re:Robinhood launches 3% checking account by theturtletalks on Thursday December 13, 2018 @02:57PM (#18675458)

Yep that's a good play, but their page says that the 3% can change depending on the market. So if that percent changes a few months after you create an account, I would bet many people would leave cause of the bait and switch.

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Re:Robinhood launches 3% checking account by jimbokun on Thursday December 13, 2018 @05:28PM (#18676720)

And many won't leave, because many of us are lazy.

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