Robinhood is teaming up with Gopuff to offer cash delivery service for a fee. The service is available in New York and expanding to other major cities. Customers must be Robinhood Gold members with direct deposits of at least $1,000 a month to use the service.
The delivery fee for cash ranges from $2.99 to $6.99 depending on the account balance. The service is initially available from 9 a.m. to 7 p.m. daily. It aims to provide convenience for customers who prefer having cash delivered to their door.
Cashless transactions are on the rise in the U.S., with 87.4% of all transactions now cashless. However, experts suggest using cash in specific situations, such as when you want tighter spending control or need reliability during outages.
Experts advise carrying between $40 and $100 in cash for daily expenses. Carrying too much cash poses risks and limits the opportunity for your money to generate interest in high-yield savings accounts.
Some instances where paying in cash could cost you include sporting and entertainment venues, utility companies, parking tickets, toll charges, and taxes. Research and consider using your debit card for these transactions to save money.
Read more at Yahoo Finance: Robinhood will bring cash to your doorstep. Here’s when cash still comes in handy.
