Deposit money into your Robinhood account
Initiate a deposit
To transfer money into your Robinhood account from an external account in the app or web classic:
- Select Account (person icon)
- In the app, select Menu (3 bars)
- Select Transfers
- Select Deposit
- Enter the amount
- Select Continue to choose which account you want to transfer money From and To, and to set the Frequency
- Review and confirm the transfer, and then select Deposit
To transfer money in Robinhood Legend:
- Select the account icon
- Select Deposit funds
- Enter the amount
- Select which account you want to transfer money From and To, and set the Frequency
- Review and confirm the transfer, and then select Deposit
Check out Set up recurring deposits for details about how to set this deposit up as recurring.
You can see your transfer history, pending transfers, and the estimated date they will be available in Account (person icon) → Menu (3 bars, only in the app) → History.
For standard bank account transfers (originated ACH):
- Your transfer limits (amount and frequency) may vary and reset each business day at 7 PM ET
- You’ll see your daily deposit limit before you submit your transfer or by going to Transfers → transfer limits
For instant bank transfers and debit card transfers:
- Your transfer limits (amount and frequency) may vary and reset each calendar day at 12 AM ET
- You’ll see your daily deposit limit (amount and frequency) before you submit your transfer or by going to Transfers → transfer limits
Transfer timelines
Standard bank deposits can take up to 5 business days to be available. With Instant Deposits, you may be able to instantly trade with some of your pending deposit. Check out About Instant Deposits for details.
Debit card transfers typically take 30 minutes, but may take longer depending on your bank.
Instant bank transfer - deposit option lets you deposit money from your bank to your Robinhood account in minutes instead of days with no fees. Check out Instant bank transfers for details.
Transfer verification
For some deposits and withdrawals, especially those made using a debit card transfer, you may be required to complete a verification for security purposes. Types of verification can differ by bank, like with SMS, Zip code, or security questions. Learn more about our account security features here.
Sometimes at the time of a debit card transfer, your bank may also require verification. If unsuccessful, as shown in the following message, try the transfer again or reach out to your bank or card issuer for help.
You may also need to update your app to the latest version to complete your debit card transfer, as shown in the following image.
Cancel a transfer
Transfers using your debit card can't be canceled. For information on canceling a standard bank transfer, review how to cancel a transfer.
Instant bank transfer deposits can’t be canceled in the app, but you can let the notification from your bank expire after 30 minutes.
Set up direct deposit
You can have your paycheck or government deposits (like tax refunds) deposited directly into your Robinhood investing or spending account. For more information, check out Direct deposit.
Set up recurring deposits
You can set up automatic, recurring deposits from your bank account to your Robinhood investing, joint, retirement, or spending account. When setting up a recurring deposit, you’ll select the amount and frequency that works best for you.
To set up a recurring deposit in the app or web classic:
- Select Account (person icon)
- In the app, select Menu (3 bars)
- Select Transfers
- Select Recurring deposits
- Choose a recurring frequency:
- Just once for a deposit today
- Weekly for deposits to initiate every Monday
- Twice a month for deposits to initiate on the 1st and 15th of every month
- Monthly for deposits to initiate on the 1st of every month
- Quarterly for deposits to initiate on the 1st of January, April, July, and October
- Select Continue
- Enter the amount, and then select which account you want to transfer money From and which Robinhood account you want the money deposited To
- Select Review → Schedule deposit
- You can only set up 1 recurring deposit per frequency from each bank account
- You can't set up recurring deposits for debit card accounts
- Instant bank transfer - deposits aren't available for recurring deposits
- Recurring deposits into a managed account from another Robinhood account isn’t yet available
Skip next deposit
If you have a recurring deposit scheduled and want to skip the next scheduled deposit, you can use the Skip next deposit option with at least 1 business day’s notice. This option only applies to the next scheduled deposit and won’t change the set schedule moving forward after the one-time skip.
To skip the next scheduled recurring deposit in the app or on web classic:
- Select Account (person icon)
- In the app, select Menu (3 bars)
- Select Transfers → Recurring deposits
- Select the scheduled deposit to skip
- Select Skip next deposit
Also, if you want to cancel a skip that you set up, you’ll need to cancel the overall scheduled recurring deposit, and then set up a new recurring deposit.
Cancel recurring deposits
To cancel a scheduled recurring deposit in the app or on web classic:
- Select Account (person icon)
- In the app, select Menu (3 bars)
- Select Transfers → Recurring deposits
- Select the scheduled deposit
- Select Cancel recurring deposit