Robinhood primarily offered brokerage services for trading stocks, options, cryptocurrencies, and other financial instruments. A Robinhood spending account, also known as a Cash Card, was a feature that allowed users to spend the cash in their Robinhood brokerage account like they would with a debit card. This feature was part of Robinhood's effort to provide a more comprehensive financial services platform for its users.
Here's how it worked:
A "Robinhood Spending Account" doesn't exist as a well-known term or service associated with Robinhood up to that point. They may have introduced new features or accounts related to spending or banking after my last update. I recommend visiting the official Robinhood website or contacting their customer support for the most up-to-date information on their services, including any spending accounts or banking-related features they may offer.
Please keep in mind that the financial services industry is dynamic, and companies like Robinhood frequently introduce new products and features to meet the evolving needs of their customers.