Those who Login robinhood account have the possibility to get a physical debit card that is directly linked to their account’s balance.The Robinhood app is widely used for more than 13 million users all around the world, so it’s imperative for a Robinhood customer to know how to get and activate this card.
In case you count on Robinhood as your main online-only financial institution or free-stock trading service provider, then this post will be in your best interests.
- Keep on reading so you can get detailed information about the following topics:
- How to activate Robinhood Card;
- Important things you must know about the Robinhood debit card;
- What happens after you activate your Robinhood debit card?
Robinhood Debit Card 101: What You Need to Know
Nowadays, most financial platforms offer cash management features and an issued debit card to their users.
Clearly, Robinhood isn’t the exception.
When you create a brokerage account on Robinhood, you are given the option to use the funds on your account to pay for goods and services.
Nonetheless, having a Robinhood brokerage account doesn’t necessarily mean that you will obtain a Robinhood debit card: you must ask for it and activate it.
Thus, it’s imperative to know a few things about this credit card before finally getting it.
Robinhood Will Use Your Mobile Wallet App Balance on Your Card
The Robinhood debit card will use the available cash on your account to cover purchases.
If the transaction exceeds your available cash, then it will not process itself.
Likewise, the company states that they will hold money equivalent to the purchase amount before processing transactions.
In case there are pending card transactions, they will either cancel or process after the account deficit is solved.