Treasury Taps BNY, Robinhood for Trump Accounts Program

New bonus accounts aim to boost family savings and financial access.

Apr. 7, 2026 at 5:59am

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An extreme close-up of a complex bank vault mechanism, with gears, levers, and intricate machinery in shades of steel grey and copper, conceptually representing the secure financial infrastructure behind the new government savings program.The Treasury's new Trump Accounts program will leverage established financial institutions and modern fintech to provide families easy access to dedicated children's savings accounts.NYC Today

The U.S. Department of the Treasury has selected The Bank of New York Mellon Corp. and Robinhood as financial agents to help launch the new Trump Accounts program, which will offer bonus savings accounts for eligible children and families.

Why it matters

The Trump Accounts program is part of a broader government initiative to improve financial literacy and boost savings rates, especially among lower-income households. By partnering with established financial institutions like BNY Mellon and the popular trading app Robinhood, the Treasury aims to make the accounts widely accessible.

The details

The Trump Accounts will provide a bonus of up to $500 per eligible child to incentivize families to open and regularly contribute to a dedicated savings account. BNY Mellon will serve as the program's custodian and account administrator, while Robinhood will offer a mobile-friendly platform for account management and contributions.

  • The Trump Accounts program was announced by the Treasury in January 2026.
  • The new accounts are scheduled to launch nationwide in June 2026.

The players

The Bank of New York Mellon Corp.

A major financial services company that will serve as the custodian and administrator for the new Trump Accounts program.

Robinhood

A popular financial technology company that will provide the mobile platform for families to open and manage their Trump Accounts.

U.S. Department of the Treasury

The federal agency that is launching the new Trump Accounts program to boost family savings and financial access.

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What they’re saying

“We're excited to partner with BNY Mellon and Robinhood to make the Trump Accounts program as accessible and user-friendly as possible for families across the country.”

— Janet Yellen, U.S. Treasury Secretary

“The Trump Accounts align perfectly with Robinhood's mission to democratize finance and empower the next generation of investors.”

— Vlad Tenev, CEO, Robinhood

What’s next

The Treasury plans to begin accepting applications for the Trump Accounts in May 2026, ahead of the nationwide launch in June.

The takeaway

The Trump Accounts program represents the Treasury's latest effort to promote financial inclusion and generational wealth-building, leveraging partnerships with established institutions like BNY Mellon and innovative fintech platforms like Robinhood.