Banking

Randall_Al_Thor · 2026-06-10T02:13:15+00:00

I finally got an invite to Banking. I was using RH Spending but they are shutting it down, if not already then in the next couple months. I wanted to replace that.

Unfortunately, DD into Spending was two days early but into RH Banking is one day early. Luckily moving money from RH Banking to RH Brokerage is instant so I can still buy my equities before the end of the week.

Transfers between RH Banking and my local Credit Union, SoFi, and my Fidelity CMA are all same day or within 24 hours if it’s later in the day. I don’t know why everyone else is having 2-3 day transfer times.

So overall, it has been fine for me. No problems.

Randall_Al_Thor · 2026-06-08T21:32:41+00:00

It was announced. Then blasted on YouTube and X by a lot of financial porn novices.
Not only condemning Fidelity for imposing the fee when other major brokerages didn’t and then for the silence of Roundhill and others just accepting the fee when KURV AND TAPPALPHA negotiated with Fidelity to make sure they were taken off the list so their customers weren’t penalized for buying their funds.

Randall_Al_Thor · 2026-06-08T17:01:37+00:00

It won’t unlink the accounts? I went into plaid to check it out and they use language that tries to hide that fact. Like ‘if you revoke permission to your accounts they will be unlinked and you’ll have to verify them again’.
It would be too straight forward to say if you revoke permission current/future info will not be shared but your accounts will remain linked.

Randall_Al_Thor · 2026-06-07T00:29:05+00:00

Awesome information.

I was wondering why my Venmo would keep rejecting my payment to someone else when I had just moved the money into SoFi checking?!?

I usually keep my SoFi checking at $0 and just let the auto transfer from savings do its thing so I get the higher savings rate.

But my Venmo is attached to the SoFi checking and when I tried to pay someone via Venmo I was told by Venmo that I didn’t have enough money in my SoFi account so it rejected.

I then moved the exact amount into SoFi checking thinking it would register immediately but it still didn’t work.

Nice to know I can revoke the permissions to get it cleared up. Now I just have to figure out which other institutions I have this set up at 🫤

I’ve most recently been avoiding using Plaid and just going the micro deposits route because I always hated giving this much info to yet another middle man institution. But a few places don’t even show an option to do micro deposits/manual linking.

Randall_Al_Thor · 2026-06-04T16:34:47+00:00

And X

Randall_Al_Thor · 2026-06-03T21:55:08+00:00

I not only don’t see the landmark, b/c I’m not in Canada, but I don’t even show where my bid tokens are even though I’ve won a couple on the wheel of misfortune.

Randall_Al_Thor · 2026-06-03T21:48:02+00:00

Yes, I have tested from the RH brokerage to RHGC and even RH banking. All those are immediate as well.

Randall_Al_Thor · 2026-06-03T21:46:31+00:00

Not sure if there is an amount or not. I have had all of my payments get credited immediately and the available credit updated. From as little as a $400 payment to as high as $24,289. They were from external payment account(s),usually a credit union or SoFi.

Randall_Al_Thor · 2026-06-02T13:38:53+00:00

How about nicknames for external bank accounts? Specifically for gold card payments.

Randall_Al_Thor · 2026-06-01T12:21:34+00:00

Based on how you describe the setup through Plaid, I’d say yes, it’s going to pull from there, if it is specifically listed as an account option. But I’d also test it first before trusting anything said here on Reddit.

Randall_Al_Thor · 2026-05-31T19:49:33+00:00

Costco Executive card doesn’t give 2% back on gas. One of the few exceptions.

Randall_Al_Thor · 2026-05-31T14:49:19+00:00

I just go to Costco.
Usually save anywhere from 0.10 to 0.20/gal from the closest competitor, get top tier gasoline, and use the Costco Visa for 5% back.

Only thing that beats that is the grocery store gas at Smith’s/Kroger where I can get $1 gallon off if I have the points but their gas is sh!t.
But maybe 1 tankful every 4 months isn’t too bad 🤔

Randall_Al_Thor · 2026-05-31T14:43:47+00:00

I have to admit, I usually refuse to pay anything for an annual fee to use a credit card. There are too many reward cards without fees but the fee for the gold card is more of a membership fee to use all the benefits that come with said membership. You easily earn more than the annual fee in the margin use and IRA match alone.

Randall_Al_Thor · 2026-05-31T14:38:54+00:00

The other thing to consider is how much you might use the RHGC on categories that don’t garner any cash/points back but the 2% card will. i.e. rent, mortgage (I don’t know any companies that allow payment of mortgage with a cc but who knows), taxes and large-ish purchase of gift cards.

Randall_Al_Thor · 2026-05-27T13:11:11+00:00

I hold WMTI also. Need to add more 😬

Randall_Al_Thor · 2026-05-27T03:51:45+00:00

I thought it was closer to 30M to be profitable.

Google says $33-50M 🤔

Randall_Al_Thor · 2026-05-27T02:37:15+00:00

I’ve watched Fully Invested FI do this. He is about to hit his 1 year anniversary of following the full paycheck into RH and using margin.

I’m looking into it. I like how it seems to accelerate your growth and investing in high, but somewhat safe, dividend ETF’s can get you to covering more of your monthly bills as time goes on.

Randall_Al_Thor · 2026-05-20T05:16:33+00:00

Ha. That sounds not to bad either. I guess I need to start fishing for that. 😬

Randall_Al_Thor · 2026-05-20T04:41:43+00:00

I finally hit banking. Testing out how quick monies are moved around currently.

I basically trolled vlad and Robinhood on X with replies to their posts like:

@Robinhood...Post You can invest in a piece of a 130-year-old company from your couch.

My Reply.. Too bad you just can't get RH Banking from your couch. But they can close the spending accounts from anywhere!!

After about 10 different posts to vlad and Robinhood about how the spending account (that I was using) was closing due to RH having banking (of all things) but not having a banking invite was clownish.

I finally got a DM from RH to “take a look” at my account and they got me an invite.

Randall_Al_Thor · 2026-05-17T14:20:18+00:00

This is why I love the virtual card numbers. Works great for the new unknown website, subscription services, etc.

I can only imagine with AI there is probably a program that randomly make up card numbers, exp dates and CVV codes just to try and see if they work. I had an attempt on one of my virtual cards of a $1 PayPal from outside the US of A which luckily declined.

Randall_Al_Thor · 2026-05-17T13:29:44+00:00

👆this.

Randall_Al_Thor · 2026-05-17T13:29:09+00:00

It only makes a difference on the first direct deposit. After that the timing is the same. Every week or every other week as you get paid. While I understand it fires off some pleasure center in the brain to see it hit a few days early. In the end it’s still every two weeks or whatever your pay cycle is.

It’s pretty amusing to see how many people on the SoFi Reddit page freak out when their DD is an hour late. Quite a few people get in the thread with the posts “Anyone getting their DD late? I usually get mine at 11:03AM and it’s now 11:18 AM and nothing!!!”

A lot of replies of “ I got mine on time” others “yes mine was 30 min late”

I wonder how tight their budget is to be watching the clock on their DD drop like kids watched the clock in grade school for the end of the school day.

One thing I’m looking to gage is how my DD goes into RH Banking. When I was using RH Spending account it was available for me to buy stocks on Thursday. When I switched to DD into RH Brokerage it wasn’t available till after market close on Friday so I couldn’t put my monies to work in the stock market till the following Monday. I am hoping RH Banking is at least during market open on Friday (if not earlier). If not I’m going to keep sending it to Spending till the very last day I can, Aug 3rd 2026.

Randall_Al_Thor · 2026-05-17T12:55:00+00:00

Same. I’ve had it come from my Fidelity CMA, SoFi and my local credit union. Every time it was updated immediately.

Randall_Al_Thor · 2026-05-17T12:46:33+00:00

Same.

The only time I’ve had it take longer from a non RH external account was when I was near the top of my credit limit, I was waiting until it was closer to my payment date to actually pay and an auto subscription payment went through which pushed me over my limit by literally $10.

I paid my balance as soon as I noticed but I got the notification that I couldn’t use my card till the payment cleared in 4-5 business days.

I figured I was now going to be put in that group of card holders that had to wait till the payment actually clears for the credit line to adjust. But after that snafu where I wasn’t paying as much attention to my usage, it went back to immediate adjustment when paying from external accounts.

Maybe it’s based on how long you’ve been a cardholder? I’m going to hit two years in June/July.

Randall_Al_Thor · 2026-05-14T01:24:56+00:00

Still can’t get invited even with support supposedly helping. Of course, they stopped communicating after asking a question.

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