The product turned into a PR disaster when the Securities Investor Protection Corporation that was supposed to insure users’ funds declared Robinhood ineligible, with its CEO noting it had never agreed to cover checking account.

Now despite Bhatt claiming “Cash Management is a brand new program built from the ground up”, it will offer the exact same debit card design and network of 75,000 ATMs. It’s even using an identical promo image for its half-translucent green, black, white, and American flag debit card designs.

Robinhood earns money by taking a chunk of the interchange fees from transactions on its debit card run in partnership with Sutton Bank, and from a few paid by the five banks cash gets swept into.

The opt-in feature prevents users from missing out on earning interest if they keep money in their Robinhood account, and makes funds from stock sales quickly accessible via the debit card for spending or withdrawal.

With Cash Management, once users deposit cash into the Robinhood accounts and opt into the program, they’re eligible to earn interest.

Robinhood Cash Management will also compete directly with Wealthfront Cash that launched in February and now offers 2.07% APY interest.

A variety of new Cash Management features are being added to the Robinhood app.