Robinhood Banking Review: Coming Fall 2025

Robinhood Banking launching Fall 2025

​Robinhood is expanding its financial services by introducing Robinhood Banking, an online platform designed to offer comprehensive banking: checking and savings.

Robinhood itself isn’t a bank. Its banking services are provided by Coastal Community Bank, Member FDIC. The deposit accounts will be covered under FDIC insurance up to $2.5 million, backed by banking partnerships in a cash sweep deposit program.

The banking services are set to launch in the fall of 2025. You can request early access if you have a Robinhood Gold membership.

What we like about Robinhood Banking

Robinhood is pulling out all the stops with its upcoming banking services. Robinhood Banking is set to support individual, joint and children’s accounts, while offering a competitive APY on savings and some unique perks. Robinhood also states that the accounts will accept wire transfers, checks and international transfers.

However, some fees and details are a little fuzzy for now.

High APY on savings

There’s no information on whether the checking will earn interest, but we do know that the Robinhood savings is set to earn up to 3.75% APY. This rate is very competitive, easily earning a title as a high-yield savings account and beating out some banks in the industry. The rate is also significantly higher than the national average of 0.40% for savings accounts.⁽¹⁾

Deliver cash to (some) doors

Robinhood Banking is advertising on-demand cash delivery, allowing users to have physical cash delivered directly to their doorsteps. No doubt, Robinhood is offering this service to make up for the lack of physical branch locations.

However, the cash delivery service coverage varies based on geographic location, and it’s not clear exactly where this coverage will be just yet. It’s also not entirely clear if this service will have any fees.

Big promises with luxury perks

Robinhood Banking is advertising access to private jet travel, global private chauffeurs, luxury helicopter rides and members-only vacation clubs for its customers. However, there just isn’t much information about these perks, with Robinhood simply stating that helicopter ride “travel routes may be limited.”

Where it falls short

We’ll get a better idea of Robinhood Banking’s shortcomings after the launch, but there are a few things we’ve noticed already.

Requires paid membership, so it’s not free

Robinhood Banking will be available to those who pay a membership fee of $5 monthly or $50 annually for Robinhood Gold. Granted, having a Gold membership has its perks, but if you don’t want to pay for the membership, you have plenty of other fee-free checking options available.

May have to watch out for fees

It doesn’t seem like Robinhood Banking will have its own ATM network, and it doesn’t have branches, leading us to believe that’s why they’re offering the cash delivery service.

ATM withdrawals are likely to cost $2.50 per transaction, based on the pricing for its discontinued Robinhood Money account. Robinhood also offered fee-free access to Allpoint and Moneypass ATMs with the Money account, so that may be the case for Robinhood Banking as well. As we approach the Fall 2025 release date, we will likely learn more.

When Robinhood Banking does launch, or you’re lucky enough to try out early access, be sure to review Robinhood’s agreements for any potential fees.

Compare Robinhood Banking to other top accounts

Narrow down top accounts by features, fees and APYs. For a closer comparison, tick the Compare box on up to four options to see benefits side by side.

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6 of 21 results

Finder Score	Account type	Annual Percentage Yield (APY)	FDIC or NCUA insured amount	Minimum balance to earn APY	Minimum deposit to open	Rebate
Promoted Finder score 8.6 Great Synchrony High Yield Savings	Finder score 8.6 Great	Traditional savings,Custodial account	3.65%	Up to $250,000	$0	$0		Go to site More info Compare product selection Compare	loading
Promoted Finder score 9.2 Excellent Public High-Yield Cash Account	Finder score 9.2 Excellent	Cash management account	3.60%	Up to $250,000	$0	$0		Go to site More info Compare product selection Compare	loading
Promoted Finder score 9.4 Excellent Wealthfront Cash Account	Finder score 9.4 Excellent	Cash management account	3.50%	Up to $8M FDIC insurance	$1	$1	New clients earn 4.15% APY. Boost your APY from 3.50% to 4.15% APY for 3 months when you open and fund a Cash Account. T&Cs apply.		Go to site More info Compare product selection Compare	loading
Finder score 9.2 Excellent SoFi Checking and Savings	Finder score 9.2 Excellent	Traditional savings,Checking	Up to 3.60%	Up to $250,000	$0	$0	Earn up to 4.30% APY on savings and up to $300 with direct deposit. Open a new SoFi Checking and Savings account by 31 January 2026, set up eligible direct deposit within 60 days, and maintain direct deposit for six months. T&Cs apply.		Go to site More info Compare product selection Compare	loading
Finder score 8.6 Great Alliant High-Rate Savings	Finder score 8.6 Great	Savings app	3.10%	Up to $250,000 by the NCUA	$100	$5	$5 opening deposit is paid for you. T&Cs apply.		Go to site More info Compare product selection Compare	loading
Finder score 9.6 Excellent Discover® Online Savings Account	Finder score 9.6 Excellent	Traditional savings,Custodial account	3.40%	Up to $250,000	$0	$0		Continue More info Compare product selection Compare	loading

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What is the Finder Score?

The Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.

To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.

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Robinhood Banking doesn’t have an official launch date at the time of writing. Until then, compare other top banking options.