Are there fees for transfers? | Robinhood (2024)

FAQs

Are there fees for transfers? | Robinhood? ›

There's no fee for bank transfers. However, instant withdrawals to a debit card or bank account can incur up to a 1.75% fee.

What does an asset transfer out cost? If you transfer assets or cash from Robinhood to an outside brokerage, we'll charge you a $100 fee, which is debited from your Robinhood account's available cash balance.

Standard bank transfer: No fee for withdrawals. External debit card account: Withdrawals have up to a 1.75% fee based on the amount being transferred out. You'll see the calculated fee when you initiate the withdrawal, so you'll know the amount up front.

Your outside brokerage may charge you a transfer fee to transfer your assets. Robinhood will reimburse you for up to $75 of that fee for transfers of $7,500 or more in equity, options, and cash assets (per account type and brokerage firm) into your Robinhood account.

Robinhood also offers free cryptocurrency trading, while Fidelity charges a spread of 1%. 8 Additionally, there are no account opening fees, account inactivity fees, or fees for domestic wires with either broker. However, while Robinhood charges $100 to transfer your account off of the platform, Fidelity does not.

There's no fee for bank transfers. However, instant withdrawals to a debit card or bank account can incur up to a 1.75% fee.

Investing with a Robinhood investing account is commission free. We don't charge you fees to open or maintain your account.

$0.000166 per share (equity sells) and $0.00279 per contract (options sells). This fee is rounded up to the nearest penny and no greater than $8.30. statement or confirm is generated. Out-of-network ATM Providers may charge a fee, which Robinhood Financial will not reimburse.

Why can't I withdraw money from Robinhood? You probably can't withdraw money from Robinhood because your funds are unsettled. You can only withdraw “settled funds”, money that hasn't been transacted with in the last 2 business days. This is known as Robinhood Withdrawable Cash.

How can I avoid brokerage transfer fees? ›

Buying no-load mutual funds or fee-free investments can help avoid per-trade fees.

Robinhood makes money in many ways, notably through a system known as payment for order flow. That is, Robinhood routes its users' orders through a market maker that actually makes the trades and compensates Robinhood for the business at a rate of a fraction of a cent per share.

Moving stocks Robinhood or Fidelity brokerage firms is accessible and is free. +1(747)205-0398 Simply sign up for a Fidelity account and keep your Robinhood account number, and then choose the assets you wish to transfer based on Fidelity's guidelines for submitting the request.

An account transfer is the easier option to move your money from one institution to Schwab as is. For example, if you have a brokerage account with stocks, ETFs, or mutual funds, you can move over the entire account to Schwab while keeping the investments as they are (or, in-kind).

$0.000166 per share (equity sells) and $0.00279 per contract (options sells). This fee is rounded up to the nearest penny and no greater than $8.30. statement or confirm is generated. Out-of-network ATM Providers may charge a fee, which Robinhood Financial will not reimburse.

You may get up to $1,000 instantly after you initiate a bank deposit into your Robinhood investing or IRA account. Although you may have access to these funds right away, the transfer from your bank into your Robinhood account may take up to 5 business days.

Robinhood has no minimums to open an account and users don't need to reach a minimum to start investing, either. Robinhood doesn't charge commission fees to trade stocks, options or crypto.