Our story began at Stanford, where co-founders Baiju and Vlad were roommates and classmates. After graduating, they packed their bags for New York City and built two finance companies, selling their own trading software to hedge funds. There, they discovered that big Wall Street firms were paying next-to-nothing to trade stocks, while most Americans were charged commission for every single trade. They wanted to change that, so they headed back to California to build a financial product that would give everyone—not just the wealthy—access to financial markets.

ith the launch of the Robinhood spending account, we are no longer accepting new signups to Cash Management. Over time, we expect to transition all Cash Management accounts to the Robinhood spending account.

If you currently have Cash Management, please see the Cash Management Help Center article to understand changes to your account when you move to the spending account.

Here is a side by side comparison of Cash Management and the Robinhood spending account.

Note: If you’re currently enrolled in the brokerage cash sweep program, where you earn interest on your uninvested brokerage cash balance, you won’t lose this feature once you transition to the Robinhood spending account. You can continue to track your interest earnings in the Investing section of the Account tab.