How to Withdraw Your Money From RobinhoodThe withdrawal process is relatively simple, but it is slightly different depending on whether you’re a mobile user or a desktop user. Show
Withdrawing Money From Robinhood on Your PhoneIf you’re using your smartphone, then the process is very simple. All you need is your phone, the Robinhood app, and access to your account.
And there you have it - a simple and straightforward way to withdraw money into your bank account from Robinhood. Withdrawing Money From Robinhood on Your ComputerIf you’re accustomed to using computers, the transaction process will be just as simple as on mobile devices, if a little different.
While the menus are similar, it’s normal to be a little confused if you switch from one platform to another. How Long Does It Take To Withdraw Money From Robinhood?Some people may be disappointed to see that the money from their Robinhood account doesn’t instantly transfer to their bank account. However, this isn’t actually Robinhood’s fault - bank transfers just inherently take a long time. This is because there are many steps that your transfer goes through in order to reduce the possibility of fraud. It’s essentially a security feature that helps to protect your bank account. In most cases, a withdrawal from Robinhood should take no more than two to three days. This is about the average amount of time it takes for a regular bank transfer, but you might occasionally see much faster times. Even so, be prepared for a reasonable wait until your Robinhood funds reach your bank account. Can I Choose Which Account To Cash Out To?Robinhood uses your depositing account as your withdrawal account to make things simple. However, you can choose to withdraw to a different account if you want to. If you decide to cash out on Robinhood into another account, you may need to go through a security check to ensure that the account is yours. This can be a slow process, but remember that it’s there to protect you, your account, and your funds. Why Can’t I Withdraw My Money From Robinhood?There may be a number of reasons why you can’t withdraw money from Robinhood. Here are some of the most common ones:
Remember that the Robinhood withdrawal limit is set at $50,000 or five withdrawal transactions each day. If you try to make more withdrawals than this, you may see an error when you try to withdraw your funds. Robinhood also requires the money in your account to settle before it can be withdrawn. Whenever you make a sale, it takes roughly two to three days for the funds to settle into your account, at which point they can be withdrawn into a bank account of your choice. So if you’ve just made a successful trade and are looking to cash out, you won’t be able to do it immediately. Lastly, account restrictions aren’t common, but they could be why you can’t withdraw money. Common reasons for an account restriction include unusual trading patterns, changing your linked bank account, or a security breach on the platform. If none of these points answers your question, or you’re still confused about why you can’t withdraw money from your Robinhood account, then it’s best to contact Robinhood’s customer support directly. How Much Does It Cost To Withdraw Money From Robinhood?Robinhood typically won’t have transfer fees, but there may be exceptions depending on the circumstances. For example, there may be small regulatory trading fees, trading activity fees, and you’ll also have to pay a fee if you decide to move your money from Robinhood to another competing brokerage firm. However, even if you have to pay fees, you can be sure that they’ll be very low. Robinhood is an online brokerage platform that allows you to buy and sell stocks, cryptocurrencies, and other securities without paying a trading commission. The ability to trade stocks for free has made Robinhood a go-to platform for novice investors. Last week, Robinhood hired a new marketing chief to help it win over more users. Article continues below advertisement
You may already be aware of the various Robinhood account types, how a Robinhood debit card works, and how to purchase fractional shares on the platform. So, how do you withdraw money from Robinhood? For example, you completed profitable trades and want to take some cash out to spend on other things outside the platform. The process is simple, just like getting started with Robinhood investing. Article continues below advertisement
How to withdraw money from Robinhood:You can withdraw money from Robinhood to your bank account for free. However, certain rules will apply to Robinhood withdrawals. The applicable rules depend on whether you want to withdraw money from a Robinhood deposit, trade proceeds, or the sale of the free referral stock that Robinhood gives to new members when they open an account. Article continues below advertisement To withdraw money from a deposit, you will have to wait until the deposit hits your Robinhood account, which can take up to five days. Withdrawing money from Robinhood sales proceeds requires waiting a few days for the funds to settle in your account. It takes two business days for Robinhood to fully settle a transaction. Therefore, funds from a sale transaction would be available for withdrawal on the third day after a trade. If you sell the free referral stock Robinhood gives to new members, 30 days must pass before you can withdraw the funds. It may take up to four business days for Robinhood withdrawals to reach your bank account. However, withdrawals initiated before 4:00 p.m. ET usually reach a bank account the next business day. Robinhood's daily withdrawal limit is $50,000.
Article continues below advertisement Technical problems can get in the way and delay depositing and withdrawing money from Robinhood. Sending cash from Robinhood to a different bank accountYou can withdraw money from Robinhood and send it to a different bank account than the one that funded it. However, strict restrictions apply in this case. If you made a deposit to Robinhood through one bank account and then decided to withdraw the funds to another, you may have to wait up to 60 days before you can initiate a withdrawal request. Of course, you will have to wait up to four more business days for the funds to land in the new account after you initiate the withdrawal process. The long wait is a measure to prevent people from using the app for money laundering. Article continues below advertisement
 Source: Getty Steps to withdraw money from a Robinhood accountYou can access Robinhood through the mobile app on devices running iOS and Android software. Individuals can also access Robinhood through its website on desktop devices. The process of withdrawing money from Robinhood through the mobile app is the same for iOS and Android devices. On mobile, open the app and tap the "Account" icon located in the bottom right corner. From there click "Transfers" and then '"ransfer to Your Bank." Choose the bank account that you want to send money to and then enter the withdrawal amount. Tap "Submit" to initiate the withdrawal. To withdraw money from Robinhood through the website, head to the upper right corner of the screen and click "Account." Click "Banking" and a panel will appear on the right. Choose the recipient bank account and enter the transfer amount. Use the panel to withdraw the money from Robinhood. Does Robinhood transfer instantly?Although you get instant access to your money, the bank withdrawal could happen within 5 business days after you initiate the transfer. To prevent a possible reversal, make sure you have the necessary funds in your bank account for 5 business days after you initiate the bank transfer.
How long does it take to transfer money out Robinhood?In most cases, a withdrawal from Robinhood should take no more than two to three days. This is about the average amount of time it takes for a regular bank transfer, but you might occasionally see much faster times. Even so, be prepared for a reasonable wait until your Robinhood funds reach your bank account.
Why does Robinhood take so long to withdraw?In some cases, some accounts are restricted, which also prevents you from making withdrawals. Again, this will cause a delay in your withdrawal process. If you want to be able to transfer your money to a bank account, you will have to get in contact with the Robinhood staff.
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