Robinhood adds free no-fee checking and banking to its trading app


The Robinhood app for iOS and Android allows users of those two platforms to make commission free trades on stocks, options, ETFs and Cryptocurrencies. Now, after shaking up the brokerage industry, Robinhood is going after the banks. Today, the company announced that it has launched Robinhood Checking & Savings and is paying a market leading 3% interest on deposited funds (the average bank pays only .8%).

Those opening an account with Robinhood Checking & Savings will pay no fees, have access to around the clock customer service, be able to take out cash from …

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