Direct deposit | Robinhood

Direct deposit

You can set up direct deposits to your spending account in the following different ways.

Online through employer or payroll provider

You can set up direct deposits to your spending account online through your company’s or payroll provider’s website with your account information.

App
  1. Go to Spending (dollar icon) → AccountGeneralSettings
  2. In Paycheck & Direct Deposit, select Set up direct deposit
  3. Select ContinueUse account & routing numbers
  4. Enter this account info into your employer’s or payroll provider’s website
Web
  1. Select Spending (dollar icon)
  2. Next to Transfer money, select the dropdown arrow (˅), and then select Direct Deposit
  3. Select Get startedContinue
  4. Select the X (top right) → Yes
  5. Select Continue, and then enter the account info shown into your employer’s or payroll provider’s website

Online directly through Robinhood

You can set up direct deposits to your spending account online directly through Robinhood by logging into your employer or payroll provider’s website from the Robinhood app.

App
  1. Go to Spending (dollar icon) → AccountGeneralSettings
  2. In Paycheck & Direct Deposit, select Set up direct deposit
  3. Select Set up through Robinhood
  4. Search for and select your employer or payroll provider. Note: If your employer or payroll provider isn’t shown in the search results, select X (top right) → Yes for another setup option.
  5. Log in to your employer’s or payroll provider’s website
  6. If prompted, answer any verification and direct deposit questions
  7. After your account is verified, which can take a few minutes, you’ll get confirmation
Web
  1. Select Spending (dollar icon)
  2. Next to Transfer money, select the dropdown arrow (˅), and then select Direct deposit
  3. Select Get startedContinue
  4. Search for and select your employer or payroll provider. Note: If your employer or payroll provider isn’t shown in the search results, select X (top right) → Yes for another setup option
  5. Log in to your employer’s or payroll provider’s website
  6. If prompted, answer any verification and direct deposit questions
  7. After your account is verified, which can take a few minutes, you’ll get confirmation

Manually with a prefilled form

You can set up your direct deposit to your spending account manually by submitting a prefilled form to your human resources (HR) team.

App
  1. Select Spending (dollar icon)
  2. In AccountGeneral, select Settings
  3. In Paycheck & Direct Deposit, select Set up direct deposit
  4. Select Send a form to human resourcesContinue
  5. Confirm your employer:
  • If listed correctly, select Continue
  • If not, select Update your employer, enter their name, and then select Continue. Then select OK to update your account with your new employer.
  1. Choose if you want the entire paycheck deposited or just a portion. For a portion, ask your employer if this option is supported. (Note: If you select to deposit a portion of your paycheck and it’s not supported by your employer, you won’t be eligible for this option.) If supported, choose Specific dollar amount or Percentage, and then select Continue
  2. For a specific dollar amount or percentage, enter the exact amount or percentage to deposit, and then select Continue
  3. Review the info for your direct deposit form, and then select Sign the form
  4. Sign the form with your finger or stylus, to redo select the X , and then select the checkmark
  5. Review your info, and then select Send me the form and we’ll send you a link to securely download a prefilled form to the email address associated with your account and as a message in the app
Web
  1. Select Spending (dollar icon)
  2. Next to Transfer, select Menu (dropdown arrow ˅), and then select Direct Deposit
  3. Select Get StartedContinue
  4. Select the X (top right) → Yes
  5. From the dropdown menu, select Get a prefilled formContinue
  6. Confirm or enter your employer’s name, and then select Continue. For a new employer, select OK when prompted to update your profile.
  7. Choose to have your entire paycheck deposited or just a portion. For a portion, ask your employer if this option is supported. (Note: If you select a portion of your paycheck and it’s not supported by your employer, you won’t be eligible for this option.) If supported, you can choose Specific dollar amount or PercentageContinue.
  8. For a specific dollar amount or percentage, enter the exact amount or percentage, and then select Continue
  9. Review your info, and then select Sign form
  10. Sign your form with your mouse, to redo it, select Clear, and then select Continue
  11. Review your info, and then select Send me the form and we’ll send a link to securely download a prefilled form to the email address associated with your account and as a message in the app

FAQ

When will my direct deposit be set up?

If you set up your direct deposit online directly through Robinhood, your paycheck should be deposited into your spending account on your next pay cycle. If you set it up online through your employer or payroll provider, or if you set it up manually with a prefilled form, it can take up to 1-2 pay cycles for your paycheck to be deposited into your spending account.

Ask your employer to switch your paychecks to direct deposit. Simply submit the prefilled form and direct deposits should be set up in 1–2 pay cycles (approximately 2–4 weeks).

When will my paycheck be deposited?

We work with a partner bank to process your direct deposit, so the bank gets the money. After our partner bank confirms receipt of your direct deposit, we’ll credit your spending account. You can expect this to happen around 10 AM ET on the day the bank gets your direct deposit.

How do I cancel a direct deposit?

If you change your mind, you can cancel your direct deposit through either your employer’s site or a form requesting the change to your employer’s HR or payroll team.

Disclosures

Your spending account is offered through Robinhood Money, LLC ("RHY") (NMLS ID: 1990968), a licensed money transmitter. RHY is not a bank.

ATM fees and other fees may apply. Review the Robinhood Spending Account Agreement.

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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.

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.
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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.