App record
Robinhood: who holds your money
- Institution type
- App
- Insurance route
- Brokerage cash sweeps
- Recorded partner banks
- 1
- Disclosure read
- September 5, 2026
Insurance route
Brokerage cash sweepsThe route recorded for Robinhood reflects the disclosure read on September 5, 2026. SIPC, protection for eligible brokerage assets, may cover securities and eligible cash remaining at the brokerage. Cash moved to program banks may qualify for FDIC, federal insurance for eligible deposits. SIPC limits do not apply to these bank deposits. FDIC coverage does not apply to securities.
Summary
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.
Current commentary
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
1 bankCoastal Community Bank
- FDIC certificate
- 34403
- Role
- sweep network
- Uninsured deposit share
- 27.4%
- Lefomi grade
- Grade CScore 21.4 out of 100
- Quarter ending
- June 30, 2026
- Other peers
- 894
- Peer group
- Banks, $1B to under $10B
- Deposit insurance
- FDIC insured
Grade alerts for Coastal Community Bank
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