How to cancel a transfer | Robinhood

How to cancel a transfer

Before you begin

If you don’t see the Cancel transfer option, that means your deposit or withdrawal has been submitted to your bank account for processing and can’t be canceled.

You can’t cancel an instant bank transfer but you might be able to cancel a standard bank transfer to or from your Robinhood account. Keep in mind that:

  • An external debit card transfer can’t be canceled after it’s initiated, because the money transfers instantly. If you accidentally make a deposit, you can make a withdrawal to reverse it. Just remember, you’ll be charged up to a 1.75% fee for instant withdrawals using a debit card, which is based on the amount being transferred out (daily withdrawal limits may vary).
  • A standard bank transfer can be canceled while it’s still pending. Refer to the following steps to cancel a pending transfer. You can also make a withdrawal to your bank account for no fee to reverse it.
  • An instant bank transfer (deposit or withdrawal) can't be canceled, but it will expire after 30 minutes if it's not accepted at your bank.

Cancel a pending standard bank transfer

App
  1. Select Account (person icon)
  2. Select Menu (3 bars) → History
  3. Select the pending deposit you want to cancel
  4. Select Cancel transfer
Web
  1. Select AccountHistory
  2. Select the pending deposit you want to cancel
  3. Select Cancel transfer

Although bank transfers can be processed in minutes with Instant bank transfers, the following is the current schedule of when standard transfers to a bank account are processed:

SubmittedProcessed by
3 PM–7 PM ET7 PM ET
After 7 PM ET3 PM ET the following business day
Saturday, Sunday, bank holidays3 PM ET the following business day
Note

After your bank processes the standard bank transfer, you can no longer cancel it. If you accidentally made a deposit, you can withdraw money from your Robinhood account after the transfer settles.

Cancel a queued deposit

App
  1. Select Account (person icon)
  2. Select Menu (3 bars) → Investing
  3. Select View Application
  4. In Queued Deposits, select Cancel transfer
  5. Select Yes
Web
  1. Select AccountApplication Status
  2. Select Cancel Deposit
  3. Select Yes
Note

If you’re a new applicant and successfully cancel a queued deposit, you’ll need to wait until your application is approved to fund your investing account.

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All investing involves risk.

Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker-dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC). Cryptocurrency services are offered through Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). Review a list of RHC licenses for more information.The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Review a list of our licenses for more information. Credit card products are offered by Robinhood Credit, Inc. ("RCT") (NMLS ID: 1781911 and issued by Coastal Community Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

RHF, RHY, RHC, RCT, and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC, RCT, and RHS are not banks. Products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. RHC isn’t a member of FINRA and accounts are not FDIC insured or protected by SIPC.

RHY is not a member of FINRA, and products are not subject to SIPC protection, but funds held in the Robinhood spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement).

Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.

Commission-free trading of stocks, ETFs and options refers to $0 commissions for Robinhood Financial self-directed individual cash or margin brokerage accounts that trade U.S. listed securities and certain OTC securities electronically. Keep in mind, other fees such as trading (non-commission) fees, Gold subscription fees, wire transfer fees, and paper statement fees may apply to your brokerage account. Please see Robinhood Financial's Fee Schedule to learn more.

Robinhood, 85 Willow Road, Menlo Park, CA 94025.© 2024 Robinhood. All rights reserved.