Robinhood Markets is working on a new feature that lets users receive their pay cheques via direct deposit up to two days early, stepping up competition with companies such as PayPal and Wealthfront.
Work on the new service was discovered inside a beta version of an upcoming update to the company’s iPhone app. The option is dubbed Early Direct Deposit and will be available within Robinhood’s existing direct-deposit feature. The code also indicates that the service will not involve fees.
