The online brokerage Robinhood Financial has eliminated its three-day waiting period for the use of funds deposited into an account.
The Palo Alto, Calif., company introduced its Robinhood Instant product on Tuesday, according to the firm's website. Transfers from a bank or credit union account into a Robinhood account, totaling up to $1,000, can be available for trading immediately.
Robinhood Instant also allows users to immediately reinvest any money made from stock trades. Users previously were required to wait three days for a stock sale to settle before the proceeds were available for reinvestment.
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Mondo, a U.K. challenger bank, plans to make it easy for customers to use financial products and services from other companies. Rather than giving away the store, the bank says this approach will make it a marketplace.
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Gary McAlum, USAA's top security executive, discusses what he sees as a false choice between security and convenience, his company's progress in getting users to adopt biometric authentication, and the need for a holistic approach to security.
February 16 -
Consumers say they consider mobile banking unsafe even as they increasingly use it, assuming they can do nothing to protect themselves from the escalating threats. Banks can't afford to be so fatalistic.
January 19
