Robinhood Account Transfer Cash Reward

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Frequently Asked Questions

Who is eligible?

This promotion isn’t available to the general public. To be eligible to receive a cash reward, you must be a direct recipient of the original email from Robinhood.

How much can you earn?

If you’re eligible, you can earn up to $800 depending on how much you transfer to Robinhood. You can earn:

  • $50 cash for transferring $3,000 - $9,999 worth of assets
  • $100 for $10,000 - $49,999
  • $200 for $50,000 - $99,999
  • $300 for $100,000 - $199,999
  • $800 for $200,000+

To earn this reward you need to transfer a minimum of $3,000 from eligible accounts into Robinhood between June 21, 2022 - July 11, 2022. Then, by August 1, 2022, your net deposits (including your qualifying transfer amount), must be at least equal to the qualifying transfer amount—exclusive of losses due to trading or market volatility.

When to expect your reward?

Corresponding cash rewards will be delivered to your Robinhood account by August 5, 2022. We will notify you by email and push notification once you’re able to claim your cash.

What can you transfer into Robinhood?

Transferable Assets:

  • Stocks
  • ETFs
  • Options contracts (not expiring within 7 days)
  • Cash balances
  • Margin balances (if you have a margin-enabled Robinhood account)

Non-transferable Assets:

  • Fractional shares
  • Cryptocurrencies
  • Options contracts expiring within 7 days
  • Unsupported options strategies
  • Mutual funds
  • Bonds
  • Futures
  • Annuities
  • Other assets that have not been identified as transferable assets
How is your qualifying transfer amount calculated?

This is calculated by the value of any transferred assets when they’ve settled in your Robinhood account. Once we receive your request for account transfer, it typically takes 5-7 business days for the assets to be settled in your Robinhood account.

What are net deposits?

Net deposits are the total amount of all settled deposits, minus settled withdrawals or canceled deposits.

Withdrawals include, but aren’t limited to, debit card transactions from a customer's brokerage account, originated and non-originated ACH, and securities that are transferred to another brokerage. However, a withdrawal shall not include the purchase of an investment, such as a stock, on Robinhood's or Robinhood's affiliates' platforms.

What are the eligibility requirements for the reward?

Your net deposits, including the qualifying transfer amount, between June 21, 2022 - August 1, 2022, must be greater than or equal to the qualifying transfer amount. In other words, all the money you put in minus the money you take out between June 21, 2022 - August 1, 2022 must be at least the value of the assets transferred.

Keep in mind

You have to claim the reward once it’s available. Your reward will expire if it isn’t claimed within 30 days of receiving the reward. You can use your cash reward to invest right away, but it can’t be withdrawn for 30 days after the reward is claimed.

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Taxes

The funds you receive through this promotion will be reported as miscellaneous income in your 1099-MISC form. Because of IRS minimum earnings requirements, you may not receive a 1099-MISC form if your funds from this promotion and any other funds (i.e., stock reward funds) are valued at less than $600.

As with all tax forms, you’ll be able to download a consolidated 1099 form (which includes the 1099-MISC) from Robinhood beginning in mid-February every year. If you have questions about your specific tax situation, we recommend speaking with a tax professional.

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Terms and Conditions

Robinhood Financial LLC (Robinhood) Account Transfers Cash Reward is subject to these Terms & Conditions.

Eligibility. Robinhood Account Transfers Cash Reward valid only for eligible current Robinhood customers in good standing to whom Robinhood directly emails or pushes the promotion. Eligible customers must make an aggregate account transfer of at least $3,000 in eligible assets (“Qualifying Transfer”) during the Offer Period (June 21, 2022 - July 11, 2022) and the net deposit during the promotion period (June 21, 2022 - August 1, 2022) including the Qualifying Transfer amount should be greater than or equal to the Qualifying Transfer amount (exclusive of trading losses or gains). Net deposits are the total amount of all settled deposits from June 21, 2022 - August 1, 2022 minus settled withdrawals or canceled deposits from June 21, 2022 - August 1, 2022. Withdrawals include, but are not limited to, debit card transactions from a customer's brokerage account, originated and non-originated ACH, and ACAT. However, a withdrawal shall not include the purchase of an investment option, such as a stock, on Robinhood's or Robinhood's affiliates' platforms. This promotion is not available to the general public, and is only available to those receiving the offer email and the related push notifications directly from Robinhood. Robinhood may decline requests to enroll in the offer at its discretion.

Qualifying Transfer amount will be calculated based on the value of any cash and eligible transferable securities, minus any margin debit balances. The value of any transferred securities will be determined as of when the securities settle in the eligible customer’s Robinhood account.

Offer Period. This Offer is available starting on June 21, 2022 at 1:00:00 PM PT and ends on July 11, 2022 at 11:59:59 PM PT (“Offer Period”).

Offer. Eligible current customers who within the Offer Period make a Qualifying Transfer into their Robinhood Financial brokerage account, as described above, from one or more external accounts via Automated Customer Account Transfer Service (“ACATS”) will be eligible to receive a cash reward. Robinhood only accepts ACATS transfers of certain assets; not all external assets will be able to be transferred. Removal of assets from your Robinhood account prior to August 1, 2022 may result in a lower cash reward or loss of eligibility for any cash reward entirely. Qualifying Transfer cash reward amounts are as follows: $3,000 - $9,999 will earn $50; $10,000 - $49,999 will earn $100; $50,000 - $99,999 will earn $200; and $100,000 - $199,999 will earn $300, and $200,000 or more will earn $800.

The cash reward will be granted to eligible accounts by August 5, 2022.

Limitations. Limit one offer per customer, with a maximum of one account per customer. The cash value must be explicitly claimed by the user. If the cash value is not claimed within 30 days of the reward being received, the reward will expire. The cash value of the reward cannot be withdrawn from the customer’s Robinhood Financial account for 30 days after the reward is claimed. Withdrawals include, but are not limited to, a debit card transaction from a customer’s brokerage account, originated and non-originated ACH, and ACATS. However, a withdrawal shall not include the purchase of an investment option, such as a stock, on Robinhood’s or Robinhood’s affiliates’ platforms. The cash reward may be delayed, declined, or rescinded in Robinhood’s sole discretion if, for example, Robinhood determines that there may be circumstances indicating fraud or a violation of these Terms. Robinhood reserves the right to change or restrict the offer terms, or terminate the offer, at any time without notice. This offer is valid even if other Robinhood offers have already been accepted. The offer is not transferable, saleable, or valid in conjunction with certain other offers, and is available to U.S. residents only. Employees, contractors, or persons similarly associated with Robinhood or a Robinhood affiliate; members of their household; registered representatives of broker-dealers, employees of any securities regulatory organization or exchange, and employees of any market maker are not eligible. Other restrictions may apply. Participation in this program does not constitute investment advice, a solicitation of a security or a recommendation to buy, sell, or hold any given security or to engage in any securities transaction. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business.

Taxes. Consult with your tax advisor about the appropriate tax treatment for this offer and any tax implications associated with receipt of a cash reward before enrolling. For taxable accounts, the value of all Robinhood offers received may be reported as Other Income on a Form 1099-MISC where required by applicable rules and regulations. Robinhood does not take responsibility for any tax related to this cash reward.

Robinhood Financial LLC (member SIPC), is a registered broker dealer. Robinhood Securities, LLC (member SIPC), is a registered broker dealer and provides brokerage clearing services. All are subsidiaries of Robinhood Markets, Inc. (‘Robinhood’).

Reference No. 20220210-2034064-6272052
Still have questions? Contact Robinhood Support