Robinhood is rolling out wealth management and private banking services for investors with modest portfolios, as the trading platform looks to have a bigger influence on its users' financial habits. The company said on Wednesday it is launching 'Robinhood Strategies' — a wealth management service with a 0.

While Robinhood is introducing bank-like services, it’s not an FDIC-insured bank itself. Instead, it will work with a partner institution to offer Federal Deposit Insurance Corp. protection on consumers’ money. The company said on its website that banking services will be provided by Coastal Community Bank.

On the banking side, Robinhood is planning a debut rate of 4% yield (APY) for savings accounts, and a novel feature that will deliver cash directly to a customer's door if they don't wish to go to an ATM. Customers will also be able to order check books, pay bills and send international money transfers for free.