How to Withdraw Money From Robinhood: Step-by-Step Guide
Written by
Andrew Lisa
Edited by
Nupur Gambhir
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Founded in 2013, Robinhood disrupted the traditional brokerage industry by launching the commission-free trading revolution that democratized investing for the masses. More than a decade later, it remains one of the most popular and trusted trading platforms on the market.
Investing is all about making money, but when you trade with an app, money is just numbers on a screen until you withdraw it as spendable cash.
It’s crucial to understand the available methods for converting in-brokerage funds to bank money, as well as the associated timelines and fees.
The article offers a step-by-step guide on how to transfer money out of Robinhood for anyone using the platform or considering signing up.
Can You Withdraw Money From Robinhood?
Robinhood users can withdraw their funds as cash through transfers to their bank accounts for free unless they choose to pay to expedite the transaction. The process is fairly straightforward. There are several ways to do it and all you need is an account in good standing, a linked external bank account, and settled funds available for withdrawal.
Step-by-Step Guide to Withdrawing Money From Robinhood
You can execute a withdrawal through the Robinhood app or a web browser.
Using the Robinhood App
- Select “Account,” which is indicated with a person icon.
- Select “Menu,” represented by 3 bars.
- Select “Transfers,” then “Withdraw.”
- Enter the withdrawal amount.
- Select the Robinhood account with the withdrawable funds.
- Select the linked external account where you want the transfer to land. Robinhood will note if the account is eligible for instant transfers.
- Review the withdrawal and take note of any fees.
- Select “Transfer.”
Using the Robinhood Website
- Select “Account”
- Choose “Transfer,” then “Transfer money”
- Input the amount of the withdrawal.
- Select the Robinhood account with the withdrawable funds.
- Choose a linked external account as the withdrawal destination. Robinhood will indicate if your account qualifies for instant transfers.
- Review your withdrawal request details and any fees.
- Hit “Transfer”
How Long Does It Take to Withdraw Money From Robinhood?
The waiting period to convert your Robinhood holdings to cash in your bank account depends on whether you choose a standard or instant transfer.
Standard Withdrawal Times
After completing a trade, funds become available as withdrawable cash after a settlement period of the trade date, plus one trading day for options and equities. After that, users can initiate withdrawals, which can take up to five business days, depending on your bank’s processing speed and factors like holiday schedules.
Robinhood limits the amount and frequency of transfers. The limit varies by user and resets daily at 7 p.m.
Instant Transfers
To expedite withdrawals, users can request an instant transfer, which usually puts cash in their bank account within 10 minutes. The service is available only with select banks and accounts linked to the Plaid platform.
Robinhood also limits the amount and frequency of instant transfers. In this case, the limit resets daily at 12 a.m.
However, cutting the waiting period from five days to 10 minutes comes with a price.
Robinhood Withdrawal Fees: What to Expect
Withdrawing money from Robinhood can be free–unless you’re in a hurry. Here’s how the fees break down:
- Standard bank transfers (ACH) are free and typically take 1-5 business days to reach your account.
- Instant transfers to a linked debit card or bank account come with a 1.75% fee, with a minimum of $1 and a maximum of $150. These usually arrive within minutes.
If you’re not in a rush, the standard transfer is the best option. But if you need quick access to your cash, the instant option is convenient — just know you’ll pay for the speed.
Other fees to be aware of:
- Brokerage transfer fee (ACATS): $100 to transfer your stocks or other assets to another brokerage.
- Wire transfers: $25 per outgoing wire if you move funds this way.
Bottom line
Stick with standard withdrawals to avoid fees, and only use instant transfers when time is more important than cost.
Can You Transfer Money Back Into Robinhood?
You can transfer money back into Robinhood by initiating a deposit instead of a withdrawal.
The steps are nearly the same whether you’re using the app or a browser. Just go to your account, tap or click on “Transfer,” and this time choose “Deposit” instead of “Withdrawal.” Then, select your bank as the source and Robinhood as the destination, then confirm the transfer.
Reinvesting this way keeps your money working for you, helping grow your portfolio and build long-term wealth.
FAQ
- How do I withdraw money from Robinhood to my bank account?
- Use the app or a web browser to navigate to your Robinhood account and choose the linked bank account where you want the funds to arrive. Then, choose standard or instant transfer, review the transaction details and fees, and then submit the request.
- Are there fees for withdrawing money from Robinhood?
- Standard transfers are free, but Robinhood charges a 1.75% fee for instant transfers.
- How long does it take to process a Robinhood withdrawal?
- Standard transfers can take up to five days to clear but instant transfers usually settle in 10 minutes or less.
- Can I withdraw money from Robinhood without a bank account?
- No, users must link an external bank account to execute deposits and withdrawals.
- What should I do if my withdrawal from Robinhood is delayed?
- Several errors can delay transfers. If your funds don’t clear, you can cancel a pending withdrawal, check that your account is in good standing, that you didn’t exceed a transfer limit and try again, or reschedule the transfer with a different account.
