Account transfer bonus FAQ | Robinhood

Account transfer bonus FAQ

Transfers into your Robinhood brokerage account from an external brokerage will earn you a 1% bonus. No matter how much you transfer, we’ll give you an extra 1%.

Which transfers are eligible?

When you transfer eligible assets from outside brokerage accounts into your Robinhood non-retirement brokerage account starting at 12 AM ET on October 23, 2023 until 11:59 PM ET on January 31, 2024, you'll get a 1% bonus on top of your ending account balance.

Any transfer fees?

We don’t charge a fee to transfer assets in. However, your outside brokerage may charge you a transfer fee to transfer your assets. For any full or partial account transfer into Robinhood that's $7,500 or more, we’ll reimburse the transfer fees your other brokerage may charge, up to $75. Contact us to request a reimbursement.

When do I get the bonus?

The bonus will generally be available in your account and ready to invest after your account transfer is complete.

How’s the bonus calculated?

You can earn a 1% bonus on net total transfers, including transferred cash, securities, and options that are transferred into your account on the trading day before the day the transfer settles. Transferred options are valued by using the national market system closing price of each position. Settlement occurs when the securities are posted to the account and available to trade. Note that the bonus is only available for assets that successfully transfer and settle, and won’t be granted for those that are rejected.

Note

This bonus is only based on eligible net transfers in. If you transfer money or assets out of your brokerage account during the offer period, and then transfer the same amount back in, it won’t count toward the bonus. The bonus is only for net transfers in. For example, let’s say you transfer $4,000 out of your brokerage account on October 30, 2023, and then transfer $10,000 back in on November 1, 2023, then only the net new $6,000 will be eligible for the bonus.

What’s reported for taxes?

The bonus is reported as interest income in your individual brokerage account.

Can I keep the bonus if I withdraw money?

Keeping the bonus after withdrawing money from your account depends on how long you've had the transferred assets in your brokerage account and the account’s net balance.

As long as you keep the eligible funds for at least 2 years in your Robinhood brokerage account, the bonus is yours to keep. If you withdraw money earlier than 2 years from when it’s settled in your account, and your remaining account balance stays at or above the net transferred value that earned the bonus, it’s yours to keep. This includes transfers to other Robinhood accounts, such as a Robinhood IRA or spending account.

Example

Let’s say you transferred assets valued at $10,000 into your Robinhood account on October 23, 2023 and the funds settled on October 25. You’d earn a $100 bonus. You can withdraw all of the $10,000 on or after October 25, 2025 (after the settlement date) and keep the bonus. If you choose to withdraw money from your brokerage account before October 25, 2025, you can keep the $100 bonus as long as the remaining balance is at least $10,000. Let’s say you decide to withdraw $1,000 in December 2023, which makes your balance drop to $9,000. Then we’d remove $10 of your account transfer bonus from your account: 1% * ($10,000 - $9,000) = $10. Contact us if you have questions about your specific situation.

Disclosures

Funds being contributed into or distributed from your Robinhood accounts may entail tax consequences. Robinhood doesn’t provide tax advice. For specific questions, you should consult a tax professional. The bonus is available to our U.S. customers with a Robinhood brokerage account in good standing.

Review our Robinhood Bonus Terms and Conditions for details.

Was this article helpful?
Reference No. 3272034
Still have questions? Contact Robinhood Support
PARTICIPATION IS POWER™

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). The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. 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. RHF, RHY, RHC and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC and RHS are not banks. Securities products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. Cryptocurrencies held in RHC accounts are not covered by FDIC or SIPC protections and are not regulated by FINRA. RHY products are not subject to SIPC coverage but funds held in the Robinhood Money 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.

© 2024 Robinhood. All rights reserved.
Follow us on

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). The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. 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. RHF, RHY, RHC and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC and RHS are not banks. Securities products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. Cryptocurrencies held in RHC accounts are not covered by FDIC or SIPC protections and are not regulated by FINRA. RHY products are not subject to SIPC coverage but funds held in the Robinhood Money 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.

© 2024 Robinhood. All rights reserved.