How to cancel a transfer

Before you begin

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.

You can’t cancel an instant transfer but you might be able to cancel a bank transfer to or from your Robinhood account. Keep in mind that:

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 daily withdrawal limit 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.

Cancel a pending bank transfer

App

Select Account
Select Menu (3 bar icon) or Settings (gear icon) → History
Select the pending deposit you want to cancel
Select Cancel transfer

Web

Select Account → History
Select the pending deposit you want to cancel
Select Cancel transfer

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

Submitted	Processed by
3 PM–7 PM ET	7 PM ET
After 7 PM ET	3 PM ET the following business day
Saturday, Sunday, bank holidays	3 PM 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.

Cancel a queued deposit

App

Select Account
Select Menu (3 bar icon) or Settings (gear icon) → Investing
Select View Application
In Queued Deposits, select Cancel transfer
Select Yes

Web

Select Account → Application Status
Select Cancel Deposit
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. 2803587

Still have questions? Contact Robinhood Support