Robinhood is adding new banks to their brokerage cash sweep program on or after May 17, 2023, which means your FDIC insurance at our program banks will increase from $1.5M to $2M beginning on June 1, 2023. In addition to Goldman Sachs USA, Wells Fargo, Citibank, HSBC, Bank of Baroda, and U.S. Bank, our program will soon include Truist Bank and Bank of India.
Although no action is required, you can always contact their support if you have any questions or wish to opt out of having your uninvested cash swept to Truist Bank or Bank of India.
Fernando
