[dmortin]

> If you put $250,000 in an SIPC-protected brokerage account, that account holds both cash and securities

So I won't buy any securities, just use it as a checking account, keeping the cash sitting there earning the 3% interest.

I wonder if there is a rule of Robinhood which prevents me doing this.

[fokinsean]

It looks like the checking and savings accounts are brokerage accounts, so if you put money into it then you are buying securities.

I just learned that this is how Betterment's "Smart Saver" account is as well.

> Is Robinhood a bank?

No. Robinhood offers Checking & Savings through a brokerage account and it offers the Robinhood debit card in partnership with Sutton Bank.

[dmortin]

SIPC protects cash in brokerage accounts too.