We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence. The offers that appear on this site are from companies from which TheSimpleDollar.com receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. The Simple Dollar does not include all card/financial services companies or all card/financial services offers available in the marketplace. The Simple Dollar has partnerships with issuers including, but not limited to, American Express, Capital One, Chase & Discover. View our full advertiser disclosure to learn more.
Robinhood Just Made a Major Improvement to Its Mobile App
Robinhood’s investing app just got better — Robinhood is changing how users view their investment returns and cash balance. Inspired by customer feedback and a mission to improve clarity, Robinhood is simplifying the investing view by making it easier to see your returns over time, as well as redirecting your cash balance to a new “Cash” tab.
“This is about adding clarity for our customers — making it simple and intuitive to know how much money you’re investing, saving or earning interest on,” a Robinhood spokesperson told us. Previously, the “Cash” tab was only unlocked if you used Robinhood’s Cash Management feature. With the new update, the tab becomes a home for all your cash balance and activity.
This split means your money will be separated into what you’re currently investing and what you’re waiting to invest (and have in returns.) Essentially, it’ll be much easier to understand the value of your investments separate from your cash balance in the app.
Secondly, you can now track specific returns over time using the “Investing” tab chart. Before the improvement, changing the timeline on the chart would only display your change in total investment value, not specifically your returns.
The new features are rolling out to about 2% of Robinhood users over the next few weeks, as they test and iterate to optimize the changes. The investing app plans to release the changes slowly to ensure that users understand that the value changes are in display only — their uninvested cash isn’t gone; it’s merely moving to the new cash tab.
We welcome your feedback on this article. Contact us at email@example.com with comments or questions.
Image credit: SOPA Images/Getty Images