Thoughts on robinhood banking?

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It almost seems too good to be true. As an 18M new to investing, I am looking for the best ways to build my money over time. I downloaded robinhood for casual brokerage, but learned about their bank accounts recently. Their savings yield is a whole 4.25%. I was looking into high yield savings accounts, and this seems like a great option. However, I would have to set up direct deposit and maintain an amount that suggests I would have to switch my primary bank from chase to robinhood. They also offer their robinhood credit card, which offers 3% cashback on anything. I want to know from people experienced in personal finance if I should make the switch from chase to robinhood and why or why not. Thank you!

Posted Jun 4, 2026, 1:04 AM UTC

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