Did you make a move in your investment and trading journey by upgrading your Robinhood brokerage account to a cash management account?
If yes, then you’ll now be able to apply for Robinhood Debit Card.
In this article, we will walk through the introductory part of this debit card and will also have a look at how good is this card for you by having a quick review of its positive and negative sides.
Without further ado, let’s begin.
What is Robinhood Debit Card?
We are living in a digitalized era, where all the banking, investing and trading operations are just a click away. To ease the payment system and eliminate the physical involvement of cash the world has moved towards cashless modes- one such way of it is a debit card.
The Robinhood Debit Card is applied by the investor when he has taken an action to upgrade his brokerage account to the cash management account. The debit card is then issued to the investor in partnership with Sutton Bank.
When you receive its debit card you can then easily access your available Robinhood funds from anywhere and at any time. Moreover, you can spend and make ATM withdrawals easily where Mastercard is accepted.
A look at its available forms and variants
After getting a brief introduction to this debit card and its working, let’s know what forms and variants you can get for it.
The user can either apply for a physical or a virtual card. If you opt to have a physical card then you can order the colour and design of your debit card as per your choice:
- American flag
Positive aspect of this card
Some of the attractive lineaments of this card are as follows:
- Is acceptable in most of the countries
- Zero maintenance and account opening fees
- Get your card as per your choice
- Get interest on your holding funds linked to cash management account
Darkside of the card
- Some of the countries doesn’t support this card
- Can charge foreign transaction fee
- Once you have ordered a design for it, you cannot change it
Robinhood Debit Card offers you to earn interest on your uninvested funds. I have a blind belief that you are well aware of the debit card and its functioning that we hold from our concerned banks.
Debit cards, in general, are a way of making payments without involving much of a headache. The case is the same here.