HOOD Week
From October 16, 2024 to October 27, 2024, we’re offering 3 exclusive bonuses for transfers into your Robinhood account from external brokerages:
To be eligible, transfers must be:
Check out Transfer your assets in to learn more about the ACATS transfer process.
While Robinhood doesn’t charge fees for incoming transfers, your current brokerage may. If your transfer exceeds $7,500, we’ll reimburse up to $75 of the transfer fees. This reimbursement is a one-time offer per account type for each external brokerage. To request a reimbursement for transfer fees, contact us.
Bonuses are based on the net transferred asset value, which is the total incoming cash and securities minus any outgoing transfers during the promotional period. The value of transferred securities is determined by the closing market price on the day before settlement. Bonuses are granted when your transfer settles, typically within 5-7 business days after initiation.
To keep your bonus, you must maintain the value of the transferred assets for 2 years for the 1% and 2% bonuses or 5 years for the 3% bonus. Any withdrawals or negative market movement that decreases your account balance to less than the initial transfer amount, may result in a partial or full removal of your bonus.
Let’s say you transfer assets valued at $15,000 from an external brokerage to your individual Robinhood investing account. During the promotional period, you also withdraw $5,000. You bonus would change as follows:
Despite the initial $15,000 transfer, your bonus is based on the net $10,000 account balance.
Negative market movement can affect your account balance but doesn’t affect your bonus unless you withdraw money. For example, let’s say you start with an account balance of $0, and then transfer $10,000 into your account.
Bonuses are considered interest income for tax purposes, and a 1099-INT form may be issued, if applicable.
You can make multiple transfers during the promotional period, but bonuses are calculated separately for each account type. Each transfer will qualify for a bonus based on its specific eligibility.
Assets eligible for transfer to Robinhood through the ACATS process qualify for the bonuses. Find out if your assets are transferable in Transfer your assets in.
If your external brokerage account has non-transferable assets, you can transfer eligible assets as a partial account transfer. For a full account transfer, you’ll need to liquidate the non-transferable assets to cash in the outside brokerage account before initiating the transfer.
If any portion of your transfer is rejected or fails to settle during the promotion period, that portion will not be included in the bonus calculation. The bonus will only apply to the settled amount.
Yes, you can transfer assets from multiple brokerages into your Robinhood account. Each qualifying transfer will be eligible for the applicable bonus, subject to the transfer meeting the eligibility requirements.
Both cash and securities are eligible for the bonuses as long as they are transferred via ACATS. Bank, wire, and debit card transfers are not eligible for the bonuses.
Yes, as an existing customer who meets the eligibility requirements, you can qualify for the bonus as long as the transfers are made from external brokerages to your Robinhood account.
You must be a Gold subscriber to receive the 3% bonus on transfers into your Robinhood IRA.
You must meet the following criteria to be eligible for the 2% bonus:
Robinhood Financial LLC (“Robinhood”) ACATS Bonus Offer (“Bonus Offer”) is subject to these Terms & Conditions.
Eligibility: The Bonus Offer is only available to customers who have: (1) successfully opened a Robinhood taxable individual or joint investing brokerage account (“Brokerage Account”) and (2) within the Offer Period, successfully initiated an Automated Customer Account Transfer Service (“ACATS”) transfer of new funds or investments to their Brokerage Account from an external brokerage account. ACATS transfer must be successful to qualify for the Bonus Offer.
Offer: Robinhood ACATS Bonus. For eligible Robinhood customers who complete an ACATS transfer within the Offer Period, Robinhood will deposit 1% of the Net transferred asset value (“Bonus”) to the customer’s Brokerage Account that they transferred into, subject to a 2 year earn-out as described in these terms. “Net transferred asset value” is the total value of the initiated ACATS minus the value of any outflows from October 8, 2024 at 12 AM ET until the ACATS is settled. The total value of the initiated ACATS is the asset value of the incoming transfer, including any credit balance, minus any debit balance, including a margin balance. Outflows are any transaction that removes funds from the Brokerage Account, including a withdrawal, ACATS transfer out of Robinhood, transfer to another Robinhood account (such as a transfer between a joint and individual Robinhood brokerage account or contributing to a Robinhood retirement account), or withdrawal from a Robinhood Crypto account. It does not include a purchase of cryptocurrency in a Robinhood Crypto account. Also, for purposes of calculating Net transferred asset value, outflows do not include any transaction that led to a chargeback for a prior bonus offer. The Bonus will generally be deposited on the day that the ACATS transfer to Robinhood settles. The Offer Period begins October 16, 2024 and ends October 27, 2024. However, Robinhood may change these dates at any time without notice. Transferred assets are eligible if they are initiated during the Offer Period.
Additional Bonus based on transferred settled margin balance. If the ACATS transfer includes a settled margin balance that is $10,000 or more, Robinhood will deposit an additional 1% of the Net transferred asset value to the customer’s Brokerage Account. If a customer receives an additional 1% deposit, the total 2% deposit shall be the “Bonus” for purposes of the Bonus Offer.
Limitations: If, during the 2 year period after receiving a Robinhood ACATS Bonus, the customer initiates a withdrawal that would cause the Brokerage Account value to fall below the Net transferred asset value plus the Bonus, Robinhood will chargeback a proportional amount of the Bonus, separate from and in addition to any withdrawal fee, such as an ACATS out fee. For purposes of this calculation, the Brokerage Account value is the sum of the cash, stocks and options held in the Brokerage Account and the value of any cryptocurrency position held in a Robinhood Crypto account minus any debit balance, including a margin balance. If the customer has cash available in the Brokerage Account, this chargeback will be deducted from the available cash balance. If the customer has insufficient cash available in the Brokerage Account to cover the chargeback, this fee may be debited from the outgoing financial institution, or added to a margin balance, if applicable. Withdrawals include, but are not limited to, a debit card transaction from a customer’s Brokerage Account, outgoing wire transfers, originated and non-originated ACH withdrawals, ACATS transfers from Robinhood to outside brokerages, a withdrawal from a Robinhood Crypto account, and transfers to another Robinhood account (such as a transfer between a joint and individual Robinhood brokerage account or contributing to a Robinhood retirement account). However, a withdrawal shall not include the purchase of an investment in a Brokerage Account, such as a stock, or purchasing cryptocurrencies in a Robinhood Crypto account.
In the event that Robinhood determines in its sole discretion that there may have been fraudulent activity or a violation of these Terms in connection with the Bonus, Robinhood reserves the right to either decline to grant the Bonus, or to rescind or liquidate the Bonus, or any security or any related dollar proceeds derived from the Bonus. The Bonus will generally be deposited on the day that the ACATS transfer to Robinhood settles, though this timeline may be delayed in Robinhood’s sole discretion if, for example, Robinhood determines that there are indications of fraud or a violation of these Terms.
The amount of the Bonus is calculated based on 1% or 2%, as applicable, of the Net transferred asset value (as defined above), using the national market system closing price of each position transferred into the account on the trading day before when the transfer settles. Settlement is deemed to occur when the securities are posted to the account and available to trade. Please note that the Bonus is only available for securities that successfully transfer and settle, and will not be granted for securities that are rejected.
The Robinhood ACATS Bonus Offer is not a recommendation of any investment or investment strategy, and is not a recommendation that a customer transfer assets into a Robinhood Brokerage Account. Robinhood reserves the right to change the offer terms or terminate the offer at any time without notice. The offer is not transferable, saleable, or valid in conjunction with certain other offers and is available to US residents only. The offer is only valid for ACATS transfers into a joint taxable brokerage or individual investing account (other account types including, but not limited to, retirement accounts, are not eligible for this offer). The offer is only available for personal use, and may not be used for commercial purposes.
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 or charged back may be reported as Interest on a Form 1099-INT where required by applicable rules and regulations. Robinhood doesn’t take responsibility for any tax related to this cash reward.
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 US customers with a Robinhood joint investing or individual investing account in good standing.
Robinhood Financial LLC (“Robinhood”) Gold Hood Week IRA Deposit Match (“Robinhood Gold Hood Week IRA Deposit Match” or “Robinhood Match” or “Match”) is subject to these Terms & Conditions.
Eligibility: The Robinhood Gold Hood Week IRA Deposit Match is only available to customers who: (1) have successfully opened an Individual Retirement Account (IRA) that is offered by Robinhood and custodied at Robinhood Securities, LLC, (2) have contributed new funds in the form of a transfer of cash or investments from an IRA at an institution other than Robinhood, and (3) are active subscribers to the Robinhood Gold product at the time that the customer’s transfer of qualified funds to the Robinhood IRA is initiated and completed.
Offer: Robinhood Gold Hood Week IRA Deposit Match. For eligible Robinhood customers, Robinhood will provide a cash bonus equal to 3% of a customer’s deposits from an IRA at another financial institution that are initiated and completed during the Offer Period to their Robinhood IRA subject to both (1) a five-year earn-out as discussed below, and (2) maintaining an active Gold subscription for at least one year from the date of the eligible transfer, as discussed below. The Match will be earned and deposited within approximately one week from the customer’s eligible transfers. The Offer Period is from October 16, 2024 at 12:00 AM PT through October 27, 2024 at 11:59 PM PT, though Robinhood may terminate this promotion at an earlier date at its discretion.
Limitations: If a customer has received a Robinhood Gold Hood Week IRA Deposit Match, and they transfer or distribute for any reason some or all of their Robinhood IRA outside of the Robinhood IRA prior to the earn-out period of five (5) years from receiving their Robinhood Gold Hood Week IRA Deposit Match in their Robinhood IRA, a non-taxable IRA Match Early Removal Fee will apply to the IRA as payment for services from Robinhood, separate from and above any ACATS out fee, and this IRA Match Early Removal Fee will be the amount that the customer has received via the Match for any Match received over the previous five years. The IRA Match Early Removal Fee will be calculated with respect to all of the customer’s Robinhood IRAs if the customer has multiple IRAs at Robinhood. Any distribution outside of the Robinhood IRA will potentially implicate the IRA Match Early Removal Fee, including distributions that may be required by law such as required minimum distributions. The IRA Match Early Removal Fee may not apply if a customer’s IRA balance has risen by an amount greater than their net IRA contributions plus any Match that they have received. However, the IRA Match Early Removal Fee will apply if the customer initiates a transfer or distribution request, and the customer’s IRA balance has decreased, for any reason including investment losses, to less than their IRA deposits plus any Match they have received. If the customer has cash available in their IRA, this IRA Match Early Removal Fee will be deducted from their available cash balance. If the customer has insufficient cash available in their IRA to pay the IRA Match Early Removal Fee, this fee may be debited from their outgoing financial institution. Via these Terms, the customer directs the removal, transfer, sale of positions, and potential liquidation from their IRA to pay the IRA Match Early Removal Fee or, as applicable, to cover account deficits created by the IRA Match Early Removal Fee.
If a customer has received a Robinhood Gold Hood Week IRA Deposit Match, a Gold Cancellation IRA Match Removal Fee, chargeable to the IRA that the customer contributed to, will apply to the customer’s IRA if the customer cancels or does not maintain an active Robinhood Gold subscription for at least one continuous year after the customer’s first eligible IRA deposit was initiated and completed that earned a Gold Deposit Match during the same uninterrupted period of maintaining active Robinhood Gold membership. Examples of a customer failing to maintain active Gold membership include, but are not limited to, failure to pay the monthly Gold subscription fee in the customer’s individual brokerage account, or the deactivation or restriction of the customer’s brokerage account. The amount of this fee will be the difference between the Match that the customer received by virtue of being a member of Robinhood Gold, versus the match that the customer would have received if they had not been a Gold member, The remaining one-third of the Match continues to be subject to the IRA Match Early Removal Fee limitations pursuant to the above paragraph. Via these Terms, the customer directs the removal, transfer, sale of positions, and potential liquidation from their IRA to pay the Gold Cancellation IRA Match Removal Fee or, as applicable, to cover account deficits created by the Gold Cancellation IRA Match Removal Fee. For example, if a customer joined Robinhood Gold and deposited $100 to their IRA on January 1, thereby earning $3 in Match, and the customer canceled their Robinhood Gold subscription on March 1 of the same year, $2 would be charged to the customer’s IRA via the Gold Cancellation IRA Match Removal Fee. Additionally, if the customer transfers or distributes some or all of their Robinhood IRA to another financial institution within five years of the deposit, then an additional $1 could potentially be charged to the customer’s IRA as the IRA Match Early Removal Fee.
The amount of the Match is calculated based on 3% of the total of the transferred cash plus transferred securities and options, using the national market system closing price of each position transferred into the account on the trading day before when the transfer settles. Settlement is deemed to occur when the securities are posted to the account and available to trade. Please note that the Match is only available for securities that successfully transfer and settle, and will not be granted for securities that are rejected.
In the event that a customer deposits to a Traditional IRA and subsequently converts to a Roth IRA, the Robinhood Gold Cancellation IRA Match Removal Fee would apply to the customer’s Traditional IRA. If there is insufficient cash in the Traditional IRA to cover this fee, this fee may create a deficit or be charged to the customer’s Roth IRA. Rollovers from employer-sponsored plans and annual IRA contributions are ineligible for this offer.
The Robinhood Gold Hood Week IRA Deposit Match will not be granted with respect to transfers from an IRA at another financial institution if, during the Offer Period, a customer’s withdrawals or transfers out of the Robinhood IRA are equal to or greater than the customer’s transfers to the Robinhood IRA from IRAs at other financial institutions.
The provision of the Match may be delayed for any reason. In the event that Robinhood determines in its sole discretion that there may have been fraudulent activity or a violation of these Terms in connection with the Robinhood Gold Hood Week IRA Deposit Match, Robinhood reserves the right to either decline to grant the Robinhood Gold Hood Week IRA Deposit Match, or to rescind or liquidate the Robinhood Gold Hood Week IRA Deposit Match, or any security or any related dollar proceeds derived from the Robinhood Gold Hood Week IRA Deposit Match, and via these Terms the customer directs the removal, transfer, and potential liquidation from their IRA. The Robinhood Gold Hood Week IRA Deposit Match will be credited to the customer’s Robinhood IRA within approximately one week after the customer has fulfilled the conditions of the Offer, though this timeline may be delayed in Robinhood’s sole discretion if, for example, Robinhood determines that there are indications of fraud or a violation of these Terms. If 3% of a customer’s contribution results in a Match amount that includes a fraction of a dollar smaller than $.01, the Robinhood Match will be rounded down to the nearest penny. For example, if a customer transfers $30.01, the Robinhood Gold Hood Week IRA Deposit Match will be $.90. The Robinhood Gold Deposit Match will not be granted for contributions less than $1.
The Robinhood Gold Hood Week IRA Deposit Match is not available with respect to IRA contributions or deposits alongside certain other Robinhood promotions, such as the Robinhood IRA Deposit Match or the Robinhood Gold IRA Contribution Match, for the same IRA contribution. In other words, a Robinhood Gold customer can’t earn an additional match on top of the 3% for the Robinhood Gold Hood Week IRA Deposit Match.
The Robinhood Gold Hood Week IRA Deposit Match is not a recommendation of any investment or investment strategy, and is not a recommendation that a customer transfer assets into a Robinhood IRA. By participating in the Robinhood Gold Hood Week IRA Deposit Match, the customer represents that neither Robinhood nor any Robinhood affiliate has recommended a transfer to the Robinhood IRA.
Robinhood, through the Robinhood Gold Hood Week IRA Deposit Match, does not intend to provide the benefit of deferred compensation or to create an employee pension benefit plan under ERISA. For that purpose, Robinhood Markets, Inc. instead offers a separate employee benefit plan for Robinhood employees, the Robinhood 401(k) Plan, which may include a separate employer matching contribution.
Robinhood reserves the right to change the offer terms or terminate the offer at any time without notice. The offer is not transferable, saleable, or valid in conjunction with certain other offers and is available to U.S. residents only. The offer is only available for personal use, and may not be used for commercial purposes.
Taxes: Robinhood processes and treats the Robinhood Gold Hood Week IRA Deposit Match as interest earned by the IRA account for tax reporting purposes. The interest amount is based on a percentage of contributions made into the IRA Account. The interest earned by the IRA account will not be subject to, or impact, the maximum annual dollar contribution limit or the maximum annual deductible amount. Please note that the Robinhood Gold Hood Week IRA Deposit Match may be taxable income for conversions of a non-deductible IRA contribution to a Roth IRA. Robinhood does not provide tax advice. You are encouraged to consult with your tax professional about appropriate tax reporting and treatment relating to this bonus award and the deposit of the bonus award in your account. Any taxes resulting from the bonus award are your responsibility.