Gold members get unlimited access to Morningstar’s premium, in-depth stock research reports. With Gold, customers can get even larger Instant Deposits**-up to $50,000 depending on their brokerage account balance and status. Today’s interest rate increase is a new offering for Gold customers, who already receive access to a suite of benefits including:

Interest is then paid out monthly by the program banks, and customers can keep track of how much they’ve earned directly within the app.Ĭustomers who wish to enroll in cash sweep can search for ‘Cash Sweep’ directly within the app, can find it via the ‘Discover more’ carousel, or they can tap the ‘Account’ icon in the bottom right corner, navigate to the ‘Investing’ tab in the top left menu, and select ‘Enable cash sweep.’ Effective immediately, all of these cash sweep balances are now earning 3% interest with the interest compounding daily. Since launching the revamped brokerage cash sweep program in May we’ve seen strong adoption from our Gold users, who currently have about $750 million enrolled in cash sweeps. The added benefit comes on the heels of the Fed rate hike earlier this week. With the new interest rate, Gold customers can now earn even more income on their uninvested cash while they plan their next move and collect 23x more in interest when compared to the national average savings rate*. Today we’re introducing a new Robinhood Gold benefit that enables members to earn 3% interest on their brokerage cash–up from 1.5% for non-Gold members. Update: As of Decemthe Gold Cash Sweep rate is now 4% APY.

Cash sweep