Robinhood Brings ‘Cash On Delivery’ For Retail Traders
Synopsis
Robinhood’s new service is powered by Gopuff and provided in partnership with Coastal Community Bank.
Robinhood (HOOD) announced on Thursday that it will now offer its traders to have cash delivered to their doorsteps.
In partnership with Coastal Community Bank, a Member FDIC institution, and delivery service Gopuff, Robinhood’s new feature is designed to simplify access to funds for its retail traders.
Robinhood Expands Financial Services Beyond Trading
While Robinhood itself is not a bank, the collaboration with Coastal Community Bank ensures that the cash withdrawal service is backed by FDIC protections, the company said.
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