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Robinhood, the start-up upending stock trading, goes after banks with a 3% savings account

December 13, 2018

Via: CNBC

Popular stock trading app Robinhood, which disrupted Wall Street with zero-fee transactions, is taking aim at an even bigger market: banks.

The five-year old company unveiled “Robinhood Checking & Savings” on Thursday, which offers checking and savings accounts with no fees and pays an interest rate roughly thirty-times the national average. Customers will earn 3 percent annually on money in either accounts, paid out on a daily basis.

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