Instant bank transfers
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.
*You’ll only see this option if your bank is eligible, you link your bank account with Plaid, and the transfer amount is within the limit.
The request will automatically be canceled after 30 minutes if you don’t accept the transfer.
The withdrawal option with Instant bank transfer offers you a faster way to move money to your bank.
In comparison to the free option that takes 4-5 business days to complete, an instant transfer typically takes 10 minutes (sometimes longer depending on your bank).
If your bank is eligible for instant bank transfer - withdrawals, and you link your bank account with Plaid, you’ll see the Instant transfer option after you enter your withdrawal details.
Instant bank transfer - withdrawals are only supported for select banks at this time.
Similar to a debit card withdrawal, the fee can be up to 1.75% of the withdrawal amount, which is deducted from the requested amount when it’s transferred. The minimum fee is $1 and the maximum fee is $150 that’s charged for this type of withdrawal.
*You’ll only see this option if your bank is eligible, you link your bank account with Plaid, and the transfer amount is within the limit.
If you request $100 to transfer, and then select the Instant transfer option, the total transfer amount will change to deduct the fee, such as to $98.25.
If we don’t receive confirmation from your bank within 24 hours of the request, any incomplete withdrawals with the instant transfer option will expire with no fees. To make a withdrawal, you'll need to request a new transfer.
For instant bank transfers:
Any links to third-party sites are being provided for informational purposes only. Robinhood isn't responsible for the content of any third-party website or the collection or use of any information. Robinhood isn't affiliated with Plaid or The Clearing House.