Robinhood to launch bank accounts with cash delivery to your door

Robinhood just confirmed it’s building full-scale banking services into its app—and those services will include a feature for cash delivery straight to your house.

The announcement came on Wednesday during its event Robinhood Presents: The Lost City of Gold, where the company laid out its newest products: Robinhood Banking, Robinhood Strategies, and Robinhood Cortex. All three are designed to expand its reach beyond trading into areas traditionally reserved for the wealthy.

According to the company’s announcement, Robinhood Banking will launch in the fall of 2025, and it’s only available to Robinhood Gold members.

Once live, users can open both checking and savings accounts inside the Robinhood Credit Card app, which will officially become the central banking app for all Robinhood financial tools.

Gold members will get access to private banking services, traditional features like wire transfers, and luxury options like on-demand cash delivery, eliminating the need to visit an ATM.

Robinhood promises private banking and luxury perks inside its app

The upcoming banking platform includes 4.00% APY on savings accounts, which Robinhood says is nine times the national average. Users will be able to open individual, joint, and even children’s accounts with spending controls and built-in allowances.

Every user will receive a debit Mastercard, and the platform supports money movement across 100+ currencies, international transfers, and real-time transfers between Robinhood accounts.

Deepak Rao, Robinhood’s GM and VP of Money, said, “With Robinhood Banking, we’re trying to solve many of the challenges presented by legacy banks.” He added that the service was “designed to be as easy to use as possible” while offering benefits usually kept for the ultra-wealthy.

Accounts will come with up to $2.5 million in FDIC insurance, around-the-clock support, and estate planning services. Professional tax advice will also be available through the platform. Users can monitor their net worth, see totals across linked accounts, and track assets held outside Robinhood.

The cash delivery feature is part of a list of luxury perks, which also includes access to private jets, chauffeurs, helicopters, and tickets to invite-only events like the Met Gala, the Oscars, the F1 Monaco Grand Prix, and The Masters.

Robinhood Banking is the follow-up to the Robinhood Gold Card, which launched last year. Over 100,000 users already have it, and the waitlist stands at nearly 3 million people. This week, Robinhood said it’s moving another 100,000 users off the waitlist.

Robinhood Strategies introduces managed portfolios with capped fees

Also announced at the event was Robinhood Strategies, which gives users tailored portfolios, financial guidance, and market insights inside the app. It’s available now for Gold members, with access for all users starting in April 2025.

The platform offers portfolio management with a flat 0.25% annual fee, capped at $250 for Gold users. Anything over $100,000 is managed for free. So if your portfolio hits $250,000, that’s effectively 0.1% in fees, and at $500,000, it drops to 0.05%.

Steph Guild, President of Robinhood Asset Management, said, “We realized the existing digital advisory model was broken, with limited features and fees that grow as you do better. We designed Robinhood Strategies to give everyone incredible service and low fees with a cap.”

According to Robinhood, the team running this service has more than 50 years of combined experience on Wall Street, including managing accounts for high-net-worth individuals and institutional clients.

The product builds portfolios using a foundation of diversified ETFs, with hand-picked single stocks chosen to take advantage of market behavior. Users get transparency through regular portfolio updates and market analysis right in the app.

The platform gives users a dashboard that displays portfolio performance, asset allocation, and return drivers. It also allows recurring deposits and simulated return projections using Monte Carlo simulations. Robinhood said users can block specific stocks they don’t want in their portfolio and adjust preferences to match their risk level and time horizon.

Tax features are included as well. Robinhood Strategies will attempt to minimize capital gains by selecting specific tax lots for selling. It will also allow users to manage external assets and enforce turnover limits to control taxes in brokerage accounts. Toward the end of the year, users will receive a breakdown of their gains and losses to help with tax-loss harvesting.

Right now, the platform supports individual and retirement accounts, and Robinhood said joint accounts are on the way. Gold members who fund accounts by June 30 get the first $1,000 managed for free through the end of 2025.

Non-Gold users get $500 managed free under the same timeline. Through May 30, Gold users also receive a 1% transfer boost up to $500, and non-Gold users get a 1% deposit boost up to $250.

Robinhood Cortex adds AI-powered market analysis for retail traders

The third product announced was Robinhood Cortex, a new AI tool that helps users break down market news and generate trade ideas. It’s not automated trading. It’s real-time research, and it’s built into the same app as Robinhood’s other tools.

Abhishek Fatehpuria, VP of Brokerage Product, said, “High quality, premium investment and market analysis has historically been reserved for institutional investors and the rich.

Over time, Robinhood Cortex will completely transform the Robinhood experience as we strive to bridge that gap and put a premium research assistant right in your pocket.”

The first feature inside Cortex is Stock Digests, which shows a summary of what’s affecting any given stock. Users can tap a ticker and immediately get an update on news events, technical factors, or analyst reports that might be moving the price. The goal is to cut through the noise and get a short answer to the question: “Why is this stock up or down today?”

The other feature is called Trade Builder. This lets users input their outlook for a stock, and Cortex responds by recommending a potential options trade based on that belief. It uses signals like price patterns, market data, and technical analysis to suggest strategies. Cortex will not place trades for users—it just helps gather and organize the information.

Fatehpuria said the company expects Cortex to keep growing over time. In the future, it will be integrated into other areas of the app, improving how users research trades, manage risk, and interact with their portfolios. The tool will launch later this year, with early access going to Robinhood Gold members.

All three products—Banking, Strategies, and Cortex—are set to roll out across 2025. All of them are tied to Robinhood’s push to give regular retail users tools that have traditionally belonged to elite firms and private banks. Every single part of the new lineup was presented as being available through a phone, with no in-person visits or paperwork needed.

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More