Robinhood Introduces New Cash Delivery Service for Gold Members
Despite having only 100,000 Gold members so far and a waiting list of 3 million potential users, this new feature is creating a buzz.
In essence, Robinhoods cash delivery service allows you to have physical cash delivered directly to your home. This eliminates the need for ATM visits, making it ideal for users who may not have access to an ATM or simply prefer not to step out. Its essentially a cash-on-demand service, akin to a ride-sharing service like Uber or Grab, but for cash.
As of now, Robinhood has not specified if there are limits to how much cash can be ordered, or if there are any restrictions on the service. The service will carry fees, with overage charges potentially varying by geographic location. However, there is no mention of insurance for the delivery personnel, which raises concerns about security when delivering large amounts of cash.
With this new addition, Robinhood aims to provide Gold Members with not just financial services but also a more convenient and secure way to access cash. Whether this service can meet the same success as other Robinhood Bankingservices remains to be seen, but it certainly adds a unique layer to their offering.
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Text source: Coindoo
