New customer cash reward | Robinhood

New customer cash reward

For the reward period that ended August 25, 2023, you may have earned a cash reward when you signed up, made a qualifying deposit in your first 30 days, and held that deposit in your new Robinhood account for 60 days.

FAQ

Who’s eligible?

This cash reward is available to a select number of new customers who signed up for a Robinhood account by August 25, 2023.

How do I qualify?
  • Signed up and got approved for a Robinhood account
  • Linked your bank account to your Robinhood brokerage account
  • Deposited at least $1,000 into your Robinhood non-retirement brokerage account within the first 30 days of signing up
  • Kept at least the qualifying deposit amount in your Robinhood account for 60 days
How much can I earn?

If eligible and qualified, you can earn up to $600 depending on your net deposits in your Robinhood account within your first 30 days of signing up. You can earn:

  • $25 for depositing $1,000–$9,999
  • $100 for $10,000–$49,999
  • $300 for $50,000–$99,999
  • $600 for $100,000+
What's considered a withdrawal?

A one-time withdrawal, multiple withdrawals, or a transfer from your Robinhood brokerage account to another brokerage or bank. Keep in mind that withdrawing funds to other non-brokerage accounts is still considered a withdrawal, though purchasing an asset such as a stock offered by Robinhood Financial or a crypto offered by Robinhood Crypto, aren’t considered a withdrawal.

What's considered a deposit?

A one-time deposit from your bank account, multiple deposits, or cash transfer from another brokerage account into your Robinhood brokerage account.

How do I calculate my net deposits?

Take the total of your settled deposits within your first 30 days of signing up, and subtract any settled withdrawals or canceled deposits within that time frame.

Deposits include, but aren’t limited to, debit card transactions into a your brokerage account, originated and non-originated ACH and ACATS (Automated Customer Account Transfer Service).

Withdrawals include, but aren’t limited to, debit card transactions from your brokerage account, originated and non-originated ACH, and ACATS. However, a withdrawal can’t include the purchase of an investment option, such as a stock, on Robinhood’s or Robinhood’s affiliates’ platforms.

When will I get my reward?

Rewards will be delivered after the required hold date. If you receive a reward, you'll have 30 days to claim it. Once claimed, you can use it to invest right away, but you can't withdraw the cash value for 30 days.

Keep in mind

Your cash reward will expire if it isn’t claimed within 30 days.

Taxes

The cash reward you receive through the deposit match program will be reported as miscellaneous income (Form 1099-MISC). Because of IRS minimum earnings requirements, you might not get a Form 1099-MISC if your total miscellaneous income for the year is less than $600.

Review About tax documents for more details.

Terms and Conditions

The Robinhood Financial LLC (Robinhood) New Customer Cash Reward promotion is subject to the following terms and conditions.

Eligibility: This promotion is only available to those who sign up for Robinhood by August 25, 2023 and get approved, fund their account with a qualifying amount within their first 30 days of signing up, and hold the qualifying deposit amount in their account for 60 days. The offer is only valid for selected individuals who haven’t yet completed their Robinhood Financial LLC or Robinhood account application and who fulfill the conditions in the promotion. Individuals must sign up, get approved for a Robinhood Financial LLC brokerage account, and link their bank account within the Offer Period to be eligible. Robinhood may decline requests to enroll in the offer at its discretion.

Offer Period: This Offer was available to a select number of new customers for the first 30 days after they signed up by August 25, 2023.

Offer: Net deposits are the total amount of all settled deposits within the first 30 days a customer signed up minus all settled withdrawals or canceled deposits within that same time period. This means that a customer must deposit any qualifying funds within their first 30 days of joining Robinhood and keep the qualifying deposit amount in their account through their first 30 days of joining Robinhood. A cash reward will be automatically deposited to the customer's Robinhood account after the 60 day hold period if they meet the eligibility criteria.

Deposits meeting this eligibility criteria will be rewarded based on the following:

  • $25 for depositing $1,000–$9,999
  • $100 for $10,000–$49,999
  • $300 for $50,000–$99,999
  • $600 for $100,000+

Limitations: Limit one offer per qualified funding of the account. The reward must be explicitly claimed by the user. If the reward isn't claimed within 30 days of the reward being received, the reward will expire. Robinhood reserves the right to liquidate or rescind the cash proceeds if it’s determined in its sole discretion that there is fraud or a violation of these Terms and Conditions in connection with the Deposit Reward Offer or the customer’s activity related to the reward. 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 isn't 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 aren't eligible. Other restrictions may apply. Participation in this program does not constitute a solicitation of a security or a recommendation to buy, sell, or hold any given security. This isn't an offer or solicitation in any jurisdiction where we are not authorized to do business. 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 may be reported as Other Income on a Form 1099-MISC where required by applicable rules and regulations. Robinhood doesn't take responsibility for any tax related to this cash reward.

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Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker-dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC). Cryptocurrency services are offered through Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Credit card products are offered by Robinhood Credit, Inc. (“RCT“) (NMLS ID: 1781911 and issued by Coastal Community Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. RHF, RHY, RHC and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC and RHS are not banks. Securities products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. Cryptocurrencies held in RHC accounts are not covered by FDIC or SIPC protections and are not regulated by FINRA. RHY products are not subject to SIPC coverage but funds held in the Robinhood Money spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement).

Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.

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All investing involves risk.

Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker-dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC). Cryptocurrency services are offered through Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Credit card products are offered by Robinhood Credit, Inc. (“RCT“) (NMLS ID: 1781911 and issued by Coastal Community Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. RHF, RHY, RHC and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC and RHS are not banks. Securities products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. Cryptocurrencies held in RHC accounts are not covered by FDIC or SIPC protections and are not regulated by FINRA. RHY products are not subject to SIPC coverage but funds held in the Robinhood Money spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement).

Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.

Commission-free trading of stocks, ETFs and options refers to $0 commissions for Robinhood Financial self-directed individual cash or margin brokerage accounts that trade U.S. listed securities and certain OTC securities electronically. Keep in mind, other fees such as trading (non-commission) fees, Gold subscription fees, wire transfer fees, and paper statement fees may apply to your brokerage account. Please see Robinhood Financial's Fee Schedule to learn more.

© 2024 Robinhood. All rights reserved.