Money Are the new Robinhood checking and savings products FDIC or SIPC insured? December 14, 2018 Janna Herron, USA TODAY Comments Off on Are the new Robinhood checking and savings products FDIC or SIPC insured? Robinhood’s checking and savings features are not bank accounts, aren't FDIC-insured, but are backed by the SIPC. Here's what that means.