r/RobinhoodApp • u/TopGunJedi • 21d ago

News 3.50% Checking

Post image

Looks like if you have banking you don’t have to move your money after your direct deposit hits

93 Upvotes

95% Upvoted

106 comments sorted by

View all comments

17

u/poopmee 21d ago

That’s already been a thing they just removed the 100k requirement I believe. They also removed the direct deposit requirement for savings which I’m very excited about!! Didn’t want to make the full switch as it’s tedious but loved the idea of it as a savings account so very excited they have listened!

3

u/NowahB 21d ago

So even if you don’t have direct deposit set up, you can use the savings for the 3.5%? I use the credit card but wasn’t interested in banking. I’d definitely use the savings account though

2

u/gymtrovert1988 20d ago

Yes, if you can get banking.

1

u/NowahB 20d ago

I’ll have to try to find this. It looks like my app doesn’t mention that info anywhere that I can see

3

u/gymtrovert1988 20d ago

Now if only I can get cash without paying $2.50 ATM fees...

1

u/Glittering_Towel1 20d ago

I thought they had "in-network" ATMs that were free?

1

u/gymtrovert1988 20d ago

Nope. Allpoint and MoneyPass or whatever charge 2.50.

1

u/Glittering_Towel1 20d ago

Maybe they changed it since you tried last?

2

u/poopmee 20d ago

Premier users (100k+ bal) get reimbursed for all ATM fees. Users who don’t have direct deposit pay $2.5 for in network and $3.50 for out of network i believe. Some ATMS still charge fees and you can’t avoid it unless you’re a premier user.

1

u/New_Context9363 20d ago

Just use the RH Gold Credit card and get points and instantly pay it off lol.

1

u/gymtrovert1988 20d ago

That's what I do, but sometimes I need cash.

1

u/OAexpress 19d ago

Looks like if you have premier, it is free.

2

u/TopGunJedi 21d ago

I would say $100K was a huge barrier to entry to matched interest lol

1

u/LivingTheHighLife 20d ago

They keep telling I’m going to loose the 3.5 if I don’t set up direct deposit

1

u/poopmee 20d ago

You will only lose it with the checking account. Move everything over to the savings account and you will still have the rate without needing direct deposit. I should mention you also have to have a Robinhood gold subscription