How to cancel a transfer

Can a transfer be canceled after it’s initiated to or from your Robinhood account:

  • An external debit card transfer can’t be canceled after it’s initiated, because the money transfers instantly. If you accidentally make a deposit, you can make a withdrawal to reverse it. Just remember, you’ll be charged a 1.5% fee for instant withdrawals using a debit card, which is based on the amount being transferred out (with a maximum fee of $5,000).
  • A bank transfer can be canceled while it’s still pending. Refer to the following steps to cancel a pending transfer. You can also make a withdrawal to your bank account for no fee to reverse it.
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To cancel a pending bank transfer

iOS
  1. Tap Account
  2. Tap Menu (3 bar icon) → History
  3. Tap the pending deposit you want to cancel
  4. Tap Cancel transfer
Android
  1. Tap Account
  2. Tap Settings (gear icon) → History
  3. Tap the pending deposit you want to cancel
  4. Tap Cancel transfer
Web
  1. Select AccountHistory
  2. Select the pending deposit you want to cancel
  3. Select Cancel transfer
Note

If you don’t see the Cancel transfer option, that means your deposit or withdrawal has been submitted to your bank account for processing and can’t be canceled.

The following is the current schedule of when most transfers to a bank account are processed (although sometimes they are processed earlier).

SubmittedProcessed by
2 AM to 3 PM ET3 PM ET
After 3 PM and before 7 PM ET7 PM ET
After 7 PM and before 2 AM ET2 AM ET
Saturday, Sunday, bank holidays2 AM ET the following business day
Note

After your bank processes the transfer, you can no longer cancel it. If you accidentally made a deposit, you can withdraw money from your Robinhood account after the transfer settles.

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To cancel a queued deposit

iOS
  1. Tap Account
  2. Tap Menu (3 bar icon) → Investing
  3. Tap View Application
  4. In Queued Deposits, select Cancel Transfer
  5. Select Yes
Android
  1. Tap Account
  2. Tap Settings (gear icon)
  3. Select InvestingView Application
  4. In Queued Deposits, select Cancel Transfer
  5. Select Yes
Web
  1. Select AccountApplication Status
  2. Select Cancel Deposit
  3. Select Yes
Note

If you’re a new applicant and successfully cancel a queued deposit, you’ll need to wait until your application is approved to fund your brokerage account.

Reference No. 2312009
Still have questions? Contact Robinhood Support