Pay & Request rewards | Robinhood

Pay & Request rewards

Get a reward when you send a payment or a request to a friend who hasn’t signed up for a Robinhood account yet. You’re both eligible to receive a $5 bonus if your friend opens a spending account and completes the transaction using Pay & Request. If you’re invited to sign up to use Pay & Request by text or email, you'll need to complete that payment or request to get the $5 bonus.

Note

You’ll need to enter the same email your friend used to pay or request money.

What can I earn?

You can earn a $5 bonus for each friend you invite who isn’t already on Robinhood that completes your payment or request. You can receive up to $25 when new friends join Robinhood and open a spending account to pay and request money.

Am I eligible?

You’re eligible if you have a spending account, invite a friend who isn’t already on Robinhood, and complete a transaction with that friend using Pay & Request.

Note
  • Puerto Rico residents aren’t eligible for these rewards.
  • If you’ve already hit the $25 limit, you’re not eligible to receive additional rewards.

When will I get my reward?

You’ll receive your reward after the friend you invite signs up for a Robinhood spending account and completes the transaction. You’ll see your bonus reward in your spending account balance.

How do I file rewards in my taxes?

The reward you get will be reported as miscellaneous income in a Form 1099-MISC. Because of IRS minimum earnings requirements, you may not get a Form 1099-MISC if your reward funds and any other funds (i.e. stock reward funds) are valued at less than $600.

As with your other tax documents from Robinhood, you can find them within your account’s Tax Center. For questions about your specific tax situation, we recommend consulting a tax professional.

Limitations

The reward may be delayed, declined, or rescinded in Robinhood’s sole discretion if, for example, Robinhood determines that there may be circumstances indicating fraud or a violation of these terms. 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 is not transferable or saleable, and is available to U.S. residents only. The offer is unavailable to residents of Puerto Rico or residents of states where Robinhood Money, LLC (“Robinhood Money”) is not licensed as a money transmitter. Please see a list of our licenses for more information. This offer is valid alongside, though separate from, any promotions offered by affiliates of Robinhood Money. This offer is valid up to a total amount of $25 per person, after which you will no longer be eligible to receive additional rewards.

Other restrictions may apply. Robinhood does not provide investment advice and does not hereby recommend any security or transaction. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business.

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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.

Robinhood, 85 Willow Road, Menlo Park, CA 94025.© 2024 Robinhood. All rights reserved.
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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.

Robinhood, 85 Willow Road, Menlo Park, CA 94025.© 2024 Robinhood. All rights reserved.