You can get anything delivered nowadays, from groceries to shampoo to a new car. But cash? That’s usually reserved for people with special needs or especially high bank accounts.
But on Wednesday, at its second annual keynote event, “The Lost City of Gold,” Robinhood, a fintech platform for buying and selling stocks, ETFs, and cryptocurrencies, announced a slew of new products and services, with one perk standing out: banking options with cash deliveries.
“With Robinhood Banking, we’re trying to solve many of the challenges presented by legacy banks,” said Deepak Rao, GM and VP of Robinhood Money, in a statement. “Robinhood Banking is thoughtfully designed to be as easy to use as possible, while still delivering cutting-edge features historically reserved for the ultra-wealthy.”
Robinhood’s Gold membership program ($5 monthly or $50 annually) gives users access to the company’s premium features and the new banking program, which will offer traditional checking accounts, high-yield savings accounts, and other private banking services for individuals and families.
Members will get exclusive tickets to events like the Met Gala, Oscars, F1 Monaco Grand Prix, and The Masters, plus discounts on private jet travel and members-only vacation clubs.
Related: Robinhood Is Offering a Credit Card for the First Time — and It’s Available in 10-Karat Gold
Other perks include getting “cash delivered on-demand right to your doorstep, eliminating the need for an ATM,” the statement reads.
There’s no word yet on how the cash deliveries will take place, what identification will be required, or how the company will ensure the safety of its drivers.
The fine print only adds: “Cash delivery service coverage varies based on geographic location.”
The program also offers instant transfers and wire services.
“Our goal is for Robinhood to give you a world-class financial team in your pocket, with cutting-edge tools you can’t find elsewhere,” said Vlad Tenev, chairman and CEO of Robinhood, in the statement.
Related: Robinhood CEO Says Big Banks Are Taking Advantage of Americans. Now His Company Wants to Put More Money Into Your Wallet — No Investing Required.
Want to read more stories like this? Subscribe to Money Makers, our free newsletter packed with creative side hustle ideas and successful strategies. Sign up here.
Read the full article here
