Robinhood Launches No-Fee 3% Checking and Savings Accounts

7

I just went to check my spot in line and got a 404 error. They’ve taken the waitlist and signup down.

https://www.sfchronicle.com/business/networth/article/Robinhood-under-fire-for-plans-to-offer-checking-13467776.php

It looks like the SIPC wasn’t happy with Robinhood calling their money market account Checking and Savings Accounts.

I am still considering moving my savings to Ally or another high-yield savings account. The interest major banks pay on savings funds is outrageous. Savings really should be able to keep pace with inflation.