Transfer your assets out
You can transfer securities and cash to outside brokerages through ACATS (Automated Customer Account Transfer Service). If you want to keep your Robinhood account, you can initiate a partial transfer. Otherwise, you can initiate a full transfer and we’ll put your account on hold.
Before initiating a transfer: Be sure to resolve any account restrictions or negative balances in your account prior to requesting a transfer, or your transfer may be delayed.
How to initiate a transfer: To begin the process, you'll need to ask the outside brokerage to initiate the transfer. After they submit the transfer instructions to our clearing firm, Robinhood Securities (RHS), who will then follow them to transfer your assets out.
Make sure you initiate an ACATS transfer: Any other asset transfer method will not work, including DTC (Depository Trust Company) and transfer agent transfers. You might need to give the outside brokerage your Robinhood Securities (RHS) account number.
You can find this information in the app:
After you initiate a full transfer, your account will be restricted to help ensure the transfer is processed smoothly. Your account will be locked from buying or selling securities, and you will no longer be able to deposit or withdraw cash, because these actions can delay the transfer.
During the transfer, you also can't enter orders for the assets being transferred, including options on the assets. However, you'll still own the securities or positions during this time, and they'll update in the app to reflect their current market value.
You might receive some assets during subsequent, residual sweep distributions. A residual sweep is the process of transferring any securities or cash that remained in an account after completion of the initial ACATS transfer. Residual sweeps are common when you have unsettled trades or dividend payments at the time the ACATS transfer request is received. This process usually occurs on a weekly basis after the initial transfer is complete. You do not need to take any action to initiate these residual sweeps.
Also, Cash Management and Robinhood Gold will be downgraded as a part of a full ACATS transfer process. If you decide to use Robinhood again, you can subscribe to Robinhood Gold. Neither Robinhood Financial LLC nor any of its affiliates are banks. Robinhood Gold is offered through Robinhood Financial LLC.
After initiating a partial transfer of a specific security (such as 25 shares of XYZ stock from the 50 you own), your entire position in that security is restricted until the transfer is successfully processed. You also cannot enter new orders for that position, including options on the assets, until the transfer is complete. However, you’ll still own the asset during the transfer, which will update in the app to reflect current market value. After the partial transfer is complete, the remaining position will be unrestricted and you’ll be able to resume trading.
Stocks and ETFs: Any whole, settled shares should be transferred to the other brokerage. If you have any fractional shares during a full account transfer, they will be sold, and the resulting money will be transferred to the other brokerage as cash during a residual sweep.
Options: Any options contracts you have that do not expire within 7 business days should be transferred to the other brokerage. Options that expire within 7 business days do not transfer. If you want to trade your expiring options contracts, please contact us.
Crypto: Your crypto is held separately in your Robinhood Crypto account, and is not able to be transferred to other brokerages. To ensure your transfer request is not delayed, liquidate any crypto you own before initiating a full account transfer request with your other broker. Failure to do so could delay your transfer request. If you don’t liquidate the crypto positions, Robinhood Crypto may liquidate these positions on your behalf. In either case, the resulting funds will be transferred to the other brokerage as cash, either with the initial transfer or during the residual transfer period. Thereafter, we’ll put both your Robinhood Financial and Robinhood Crypto accounts on hold.
If you transfer assets or cash from Robinhood to an outside brokerage, we’ll charge you a $100 fee, which is debited from your Robinhood account’s available cash balance. If your Robinhood cash balance is insufficient to cover this fee, it will instead be debited from your outside brokerage account, contingent on that firm’s policies.
We recommend asking the outside brokerage if you plan on transferring your Robinhood account while borrowing money. Some brokerages may accept leveraged accounts.
If you need to cancel an outgoing transfer, you’ll need to ask the other brokerage to cancel it because after it leaves Robinhood, we have no control over it.