Robinhood rolls out same-day cash delivery to your door so you don't have to go to an ATM anymore

By Weston Blasi and Gordon Gottsegen The online brokerage has teamed up with courier service Gopuff to roll out a same-day delivery service for currency The cash is to be delivered in nondescript packaging. Robinhood Markets will soon be able to bring bags of cash right to your doors - charging three to seven extra bucks a pop. Robinhood (HOOD) and delivery app Gopuff just announced a partnership to deliver cash to consumers. Users can bypass hoofing it to the the ATM and tap this same-day delivery service to have money come directly to them in a sealed bag instead, for a $6.99 fee, or just $2.99 for those with more than $100,000 in assets on the Robinhood platform. That's roughly comparable to the cost of using an out-of-network ATM to withdraw cash, which hit a high of $4.86 on average this year, according to Bankrate. That's up from $4.77 last year. Robinhood told MarketWatch it was the first to offer this kind of cash-delivery service in the U.S. when it began piloting the feature, but some other platforms have experimented with at-home cash delivery, including Remitly, which allows people to deliver cash to recipients in countries like the Dominican Republic, Philippines and Vietnam. Gopuff has experience delivering things like groceries, home goods, alcohol and more. But when a delivery service is carting cash around town instead of a lukewarm burrito, the stakes and security concerns, obviously, are higher. "Safety and security is our top priority. All deliveries will follow strict safety protocols and involve professional security measures," Deepak Rao, the vice president and general manager of Robinhood Money, told MarketWatch. Safety first Rao said Gopuff couriers will pick up money in a sealed bag from Gopuff distribution centers, so the courier won't know what is being transported. Robinhood customers, when a parcel arrives, would have to show the courier a verification code before taking possession of the money. On top of that, all Gopuff couriers go through a criminal-background check. Although this is the first time Gopuff is delivering cash, people can already order other high-value items on the Gopuff platform, including things like expensive bottles of liquor and electronics. Customers ordering cash must be members of Robinhood Gold, the company's flagship $5 subscription service, and have an account to which $1,000 in monthly direct deposits are executed, according to the Wall Street Journal. The service is only available in New York City right now, but is expected to roll out in other major metro areas in 2026, including San Francisco; Philadelphia; and Washington, D.C. Gopuff said that deliveries usually take about 30 minutes on average, and expects cash deliveries to take around the same time. Wondering why? Cash transactions have become increasingly anachronistic, particularly among younger consumers. While 71% of Americans over the age of 50 say they always keep cash on hand, only 45% of Americans between 18 and 49 years old do the same, according to the Pew Research Center. The median age of Robinhood's clients is 35 as of earlier this year, so not everyone on the platform may find this cash delivery feature useful. Still, cash remains more widely used than one might guess, even as new digital payment methods like Apple Pay (AAPL) gain traction alongside long-standing alternatives like credit and debit cards. Cash usage, in fact, has remained pretty consistent over the past several years. Since 2021, the average number of cash transactions per customer has held steady at approximately seven per month, according to the Federal Reserve Bank of Richmond. Cash now accounts for around 14% of total payment transactions, down from about 31% in 2016. While this new cash-delivery feature is still in the testing phase, the company says it's received positive feedback from customers and delivery partners. Months before Robinhood announced its partnership with Gopuff on Thursday, Robinhood began piloting cash delivery as part of a Robinhood Banking revamp announced in March. The goal of that banking initiative has been to provide customers with a private-banking-style experience catering to a digitally native customer. To the bank The stand-alone banking app allows customers to see their net worth, talk to a tax adviser and conduct estate planning, along with other features geared toward high-net-worth individuals, such as reserving a helicopter or private jet, booking tickets to events like the Met Gala - and, yes, getting wads of cash delivered. Despite the cash-delivery announcement, shares of Robinhood Markets were one of the day's biggest decliners among S&P 500 companies SPX on Thursday, with a drop of 8.6%. Shares of Robinhood have spiked 274% over the last 12 months on the back of increased trading volume, success in its prediction-markets business and its acquisition of the crypto platform Bitstamp. Gopuff, for its part, announced a $250 million funding round on Thursday, with Robinhood listed as one of its investors. -Weston Blasi -Gordon Gottsegen This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires 11-15-25 1238ET