Withdraw money from Robinhood

Before you begin

Keep in mind that while there is no fee for bank transfers, withdrawals using a debit card incur a 1.5% fee because they happen instantly (typically around 10 minutes but sometimes longer depending on your bank).

App

To transfer money to your external debit card or bank account:

  1. Select AccountTransfers
  2. Choose to transfer money from your debit card or bank account
  3. Enter the amount you'd like to transfer
  4. Choose to transfer money to your debit card or bank account
  5. If your bank qualifies, you’ll see Instant transfers as an option you can select for a faster withdrawal
  6. Review the withdrawal (you'll see the calculated fee added here for debit card or instant transfer withdrawals)
  7. Select Transfer
Web

To transfer your funds to your external debit card or bank account:

  1. Select AccountTransfers
  2. Choose to transfer money from your debit card or bank account
  3. Enter the amount you'd like to transfer
  4. Choose to transfer money to your debit card or bank account
  5. Review the withdrawal (you’ll see the calculated fee added here for debit card withdrawals)
  6. Select Transfer
Note

For bank accounts:

  • You can make up to 5 withdrawals per business day from your account.
  • You can withdraw up to $50,000 to a linked bank account and $5,000 with instant transfers per day from Robinhood.

For debit cards:

  • You can withdraw up to $5,000 daily.
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About withdrawals

Pending deposits

A bank deposit can take up to 5 business days to complete and you will not be able to withdraw or spend the funds while it is in flight. Once it’s marked completed, it will be ready for withdrawal.

A debit card or an instant transfer withdrawal typically takes 10-30 minutes, but might take longer depending on your bank. There is a 1.5% fee for instant withdrawals, which you’ll see the transfer amount adjusted for.

Settlement period

Following a sale in your brokerage account for equities, the transaction needs to “settle” before you can withdraw them to your bank account. The settlement period for equities is the trade date plus two trading days (T+2), sometimes referred to as regular-way settlement. On the third day, those funds will go into your buying power and will appear as withdrawable cash.

Withdrawing to a different bank account

For 60 days following a deposit, you may be required to verify additional information if you wish to withdraw funds to a different bank account than the one you originally deposited them from.

If the original bank account is closed or you are unable to access it, our support team can help initiate a withdrawal to another bank account for you. Please be aware you may be required to share:

  • A brief description of why you are unable or unwilling to withdraw to the bank account you originally deposited funds from.
  • A photo of the front and back of your government-issued ID.
  • Bank statements showing that you are the account holder of the two linked bank accounts. Photos or PDFs must be clear and easy-to-read.
  • Amount and specific bank account that you’d like to transfer funds to.

Account restriction

If your account has a restriction, you may be unable to withdraw funds. Please contact us so we can help resolve the issue and remove the restriction.

Referral stock

The cash value from a referral stock needs to remain in your brokerage account for at least 30 calendar days. If you sell your free stock before the 30 days, you will not be able to access those funds in your withdrawable cash. After the thirty-day window, there are no restrictions on the proceeds. For example, if you win one share worth $10 to your brokerage account, you can’t withdraw the $10 you receive by selling the stock until thirty days have passed. The cash value of the stock is determined by the price of the stock at the time you received it. You can check out your History tab for the stock’s value. For details, review Robinhood Referrals Program.

Example

If you receive a fractional share of stock worth $10 in your brokerage account, you can’t withdraw the $10 you receive by selling the stock for 30 days. The cash value of the stock is determined by the price of the stock at the time you received it. You can check out your History tab for the stock’s value.

Margin investing

If you’re using the margin investing feature, you’ll need to maintain a brokerage account value of at least $2,000 (minus any crypto positions) to meet the minimum balance requirements to borrow. To withdraw below $2,000, you’ll need to disable Margin investing in SettingsInvesting.

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Canceling a withdrawal

To cancel a pending withdrawal in your app:

  1. Select Accountmenu (3 bars) or Settings (gear) → History
  2. In Pending, select the pending bank withdrawal you want to cancel
  3. Select Cancel transfer
Note

On trading days, there are three potential cutoff times for when you can cancel a transfer depending on when you initiated it. After the cutoff time passes, you won’t be able to cancel the transfer anymore and you’ll need to wait for it to complete.

  • If you initiate a transfer between 3:00 PM - 7:00 PM ET, you can cancel it up until 7:00 PM ET that same day.
  • If you initiate a transfer after 7:00 PM ET, you can cancel it up until 3:00 PM ET the following trading day.
  • Although you can’t cancel a debit card transfer, you can transfer the money back to your account.

On weekends, you can cancel bank transfers up until 3:00 PM ET the following Monday.

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Disclosures

Margin investing involves the risk of greater investment losses. Before using margin, customers must determine whether this type of strategy is right for them given their investment objectives and risk tolerance. For more information, review our Margin Disclosure Statement.

Reference No. 2607129
Still have questions? Contact Robinhood Support