Robinhood: who holds your money
Robinhood is not a bank. Robinhood says customer money is held at Coastal Community Bank, with insurance reaching customers as SIPC protection for securities, with cash swept to program banks. We read this information in the app's own public disclosure on September 5, 2026, and this page quotes that disclosure below. You can check each partner bank's own page on this site.
Robinhood is not a bank; cash swept from the broker sits at Coastal Community Bank, which has letter C among similar-size banks. SIPC protects securities and cash still held at the broker up to $500,000 per customer, including up to $250,000 in cash. Swept cash instead receives FDIC pass-through insurance at Coastal Community Bank, up to $250,000 per depositor, per bank. This reflects Robinhood’s disclosure read September 5, 2026.
Partner banks
- Coastal Community BankFDIC #34403 · sweep network27.4%above the insured limitC21.4
The figure is the share of total bank deposits above the $250,000 federal insurance limit, reported quarterly to the FDIC. High shares are normal for banks holding large app program balances. They do not mean your balance is uninsured: pass-through insurance usually covers customers individually at the partner bank. Across US banks in 2022 to 2026, those above roughly 36% saw large quarterly total deposit declines more often than those below. Most banks above that level saw no such fall. This measures deposit movement and does not predict trouble for any bank.
Disclosure
Robinhood is not an FDIC-insured bank. Deposit insurance covers the failure of an insured bank. Products other than the Cash Sweep Program are not insured by the FDIC, are not deposits, and may lose value. Certain conditions must be satisfied for pass-through FDIC deposit insurance coverage to apply.
robinhood.com · as of September 5, 2026
Robinhood's full program bank priority list is shown only inside the app. Coastal Community Bank is named as the sweep program bank in the Demand Deposit Marketplace terms Robinhood publishes at cdn.robinhood.com/assets/robinhood/legal/deposit_sweep_program_terms_and_conditions.pdf.