Robinhood launches 3% checking account

Re:Robinhood launches 3% checking account by icedchai on Thursday December 13, 2018 @03:15PM (#18675621)

I'll move my ~$100K emergency fund into there just to get free money. And move it out somewhere else when the rates change. Over the years I've moved accounts between Dollar Savings, Emigrant, Orange, Ally, and probably 2 or 3 others...

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Re:Robinhood launches 3% checking account by yclept on Thursday December 13, 2018 @05:26PM (#18676705)

Would you really move your emergency funds into a less secure more likely problematic service though?

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Re:Robinhood launches 3% checking account by icedchai on Thursday December 13, 2018 @06:04PM (#18676961)

I would have to read up on the transfer times. If it's reasonably standard (2-3 days) and doesn't have any daily limits, then yes. It's a US company, FINRA approved, SIPC insured, so the risk is minimal.

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Re:Robinhood launches 3% checking account by kevinmchugh on Friday December 14, 2018 @03:42PM (#18684514)

SIPC says they don't think they have to insure this.

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[dead]

Re:Robinhood launches 3% checking account by p1esk on Thursday December 13, 2018 @07:48PM (#18677507)

Not to make you feel bad, but at $150k/year salary (average in SV) one should be able to save $100k within 5 years, with little impact on quality of life.

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Re:Robinhood launches 3% checking account by icedchai on Thursday December 13, 2018 @07:09PM (#18677324)

It wasn't meant to be. I'm in my early 40's. I just saved and invested a bit each year.

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