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Robinhood Cash separate from stock / Duplication

rmquick25

I would like to request that the Robinhood investments account be split into stocks and cash OR only show stock holdings.

Currently Robinhood investments shows combined balance of cash and stocks.

When I click on Robinhood investments it shows the market value but not the cash balance.

The cash balance of Robinhood is also shown under banking.

So the cash is shown under investments & banking.

This duplication needs to be fixed.

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Coach Natalie

@rmquick25, thanks for bringing this to our attention!

I also see that my cash, or buying power, is being double counted in the Accounts List balances for my Robinhood accounts, as I see it in the Cash Management account, as well as in the Investment account. When I drill down to the Investment account, I also see no cash holding in the Portfolio, and the Market Value only counts the investment holdings. I have reported this and will post back with updates!

CTP-12435

rmquick25

thank you @Coach Natalie! Please keep us updated

Coach Natalie

@rmquick25, I have some new info on this issue!

Here is what I was told: "Robinhood's Cash Management feature, including the debit card, is no longer available, so if you previously had one, it has been transitioned to a new offer or closed. You can downgrade or close your Robinhood account if there are no pending card transactions, and you'll receive earned interest up to that point, but the debit card will stop working immediately.

The spending account was created for users who wanted to have a Robinhood cash card, but otherwise, the Cash Management accounts are ‘closed’.

We’re reaching out to have them remove the Cash Management accounts from the API so this does not occur. For current users, they will want to close/remove any Cash Management accounts they have already added. The Cash Management was ended over a year ago from what I can find, so it's very odd they include it in the API."

With that, when I added my Robinhood accounts, I see my Brokerage, the CMA account, and a Spending account with a $0 balance (I don't do much with Robinhood). I have never added the Spending account, since I don't use it, and it shows $0 anyway. But if I delete the CMA account as we have been advised to do, my Brokerage account would show the correct total balance with cash. The only issue at that point is that there is no Cash Holding in the Portfolio, so the Market Value is technically wrong.

I will keep you posted with future updates as this continues to be worked on!

rmquick25

ok thank you. I also have deleted my CMA account from robinhood.

Coach Natalie

@rmquick25, I still haven't heard back on how to deal with the missing cash holding. At this point, if the cash holding missing from the Portfolio is impacting you, please go ahead and create a new post to report it so we can take a fresh look at a new escalation.

Thanks!

rmquick25

I would like to request that the Robinhood investments account be split into stocks and cash OR only show stock holdings.

Currently Robinhood investments shows combined balance of cash and stocks.

When I click on Robinhood investments it shows the market value but not the cash balance.

The cash balance of Robinhood is also shown under banking.

So the cash is shown under investments & banking.

This duplication needs to be fixed.

Coach Natalie

@rmquick25, thanks for reaching out!

I merged your new post with your existing thread for this topic. If you look above, you will see that the solution at this time is to remove the Cash Management account:

https://community.simplifimoney.com/discussion/comment/50596#Comment_50596

While they work to have this account removed from the API, you will want to go ahead and manually delete it again. If you wish to report the separate issue of the Investment Account missing the cash holdings in the Portfolio view, you will want to do so by creating a new post for just that issue.

https://community.simplifimoney.com/discussion/8/how-to-post-to-the-community

I hope this helps to clarify!

rmquick25

Yes I see why I needed a post. I have created a new one to address the cash issue with Robinhood.