Transfer your assets out | Robinhood (2024)

FAQs

Why won't Robinhood let me transfer my money? ›

Your money might be unavailable for a few reasons, including: One of your pending transfers was reversed because of an issue with your bank account. The money from that transfer won't be available in your spending or investing account. One of your pending transfers failed due to a one-time system error.

SEC regulations mandate a two-day settlement period after a stock's sale. Your funds still need to be cleared for withdrawal. There may be a waiting period for recent deposits or bonuses.

Some of the most common reasons why you can't use your Instant Deposit are: Your transfer was flagged by a risk check. Your recent transfers were reversed. Your transfer was over your Instant Deposit limit.

Standard bank transfers

Standard bank account transfers can take up to 5 business days after you initiate a transfer from your bank account into your Robinhood account. However, for your investing account, you can get up to $1,000 immediately after you initiate the transfer.

This might initially sound strange, but there is no explicit method on how to withdraw buying power from Robinhood. This is no fault of the company, but rather it is because buying power is more of a concept. It is the culmination of wealth in your account that you can use to buy other assets.

Your Robinhood investing account might be restricted for a number of reasons, including the following: Company control person. Bank transfer reversals. Incorrect or outdated account information.

Incorrect Destination Account Number

Entering the wrong destination account number is a common cause of failed interbank transfers. Any transaction with incorrect data or information will usually not be processed, including when you enter the wrong account number.

The settlement period for equities and options trades is the trade date plus 1 trading day (T+1), sometimes referred to as regular-way settlement. On the 2nd day, those proceeds will be available as withdrawable cash.

Robinhood Gold or Instant users may have instant settlement for quick withdrawals after selling stocks, ETFs, or options. Withdrawal limit: You can make up to 5 transfers per business day. Daily limit: You can withdraw up to $50,000 per business day. For more, you'll need to do lump sum withdrawals.

Deposits. The deposit option with an Instant bank transfer lets you deposit money from your bank to your Robinhood account in minutes instead of days with no Robinhood fees. Deposits with Instant bank transfer are only supported for select banks at this time.

How much does it cost to transfer assets out of Robinhood? ›

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.

Here is how to cash out of Robinhood:

Open the Robinhood app on your phone. +1(747)205 0398: Tap on "Account" at the bottom-right corner of the Robinhood homepage. Click "Transfer" then "Transfer to Your Bank." Enter the amount and the account number.

If your app is slow or not working as expected, try the following steps to resolve the issue: Check your WiFi signal strength. If it's weak, try turning it off and using your cellular data instead. Double-check that you're on the latest version of the Robinhood app.

If you fail to meet your minimums, Robinhood Financial may be forced to sell some or all of your securities, with or without your prior approval.