How To Get My Money Off Robinhood

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• To withdraw money using the iOS or Android apps, you’ll have to navigate to your account settings and then click on the transfers selection using the website or app.
• Before you tin withdraw money from your Robinhood business relationship, you lot’ll have to come across sure requirements, depending on where the money came from.
• You can make upwards to 5 withdrawals a day and are limited to $50,000 per concern day.

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Robinhood is ane of the nigh popular trading platforms for young investors, just non all users are happy. If you want to switch from Robinhood to one of Insider’southward top-ranked investment apps, y’all can either directly transfer securities out of Robinhood into your new brokerage account, or you lot tin can sell your stocks and crypto and transfer the money into your bank account.

It’s easy to withdraw coin from Robinhood on your iOS or Android mobile device — or by using the website. If you can, it’s all-time to withdraw your cash into the same banking company account you used to fund your account. Otherwise, Robinhood may ask you for extra documents to prove that you own the bank accounts in question.

Rules for withdrawing funds from Robinhood

Robinhood users should look out for a few rules that limit how and when they tin withdraw their cash from their accounts.

• You may be required to wait upward to five business days later on depositing funds.
  Robinhood has an “Instant Deposits” policy, which means some customers can start trading as before long every bit they’ve moved cash into their Robinhood account from their checking or savings account. Simply there’s a catch: Even though you might be able to buy and sell stock with your “instant deposits,” you won’t be able to transfer your cash back
  out
  of Robinhood right abroad. One time you lot’ve moved money into your Robinhood account, you’re typically required to wait upwards to five business days before yous can motion that money out.

• After selling stock, you must wait for the trade to settle.
  When you buy or sell stocks, ETFs, or options in the United States, it takes three business organisation days for those trades to “settle,” which means the trade is officially complete. If you lot’re a Robinhood Aureate or a Robinhood Instant user, you may be eligible for instant settlement, which ways you lot tin withdraw whatsoever proceeds right subsequently you sell stocks, ETFs, or, options.

• Yous can brand only 5 withdrawals per business organisation twenty-four hour period.
  If you’ve already hit that limit, you’ll have to look until the adjacent business organisation day to make whatsoever additional transfers.

• You can withdraw merely $50,000 per business day.
  If yous have a big balance that exceeds that corporeality, you lot will have to withdraw money in lump sums.

• You lot accept to wait 30 days to withdraw funds from selling free stock.
  You know that costless stock you received from Robinhood’s Referral plan? Robinhood will let you sell that stock right away if you want, but you take to keep the cash value of that stock in your account for 30 days before you lot can withdraw information technology.

• You’ll confront special rules if you’re switching bank accounts.
  Scout out if yous funded your Robinhood business relationship with i banking company account, and want to move your coin into a
  different
  banking concern account. That can look suspicious, and Robinhood has some special rules that employ in that situation. They may inquire yous to send some documents to prove you’re really the owner of both banking concern accounts, like sending pictures of your photo ID or bank statements. To avoid the hassle, information technology’due south all-time if you can withdraw your cash into the aforementioned depository financial institution business relationship that funded your Robinhood business relationship.
• You may not be able to withdraw money while your account is restricted.
  Robinhood sometimes restricts users’ accounts. That can happen if the user has a negative balance, had a bank business relationship transaction reversed, if the user is suspected of fraud, or for a few other reasons. If your account is restricted, you may not exist able to withdraw any money until y’all’ve contacted Robinhood to articulate things upwardly.

The financial takeaway

Yous tin can easily transfer money out of Robinhood into your depository financial institution account. Only in that location are a few catches. Most chiefly, you tin’t have money out until five concern days after yous’ve transferred that coin into Robinhood. You’ll as well need to expect iii business concern days subsequently selling stocks, ETFs, or options before yous can withdraw the proceeds.

On the iOS or Android app, get started past tapping the “Business relationship” push button in the bottom correct of the screen, which looks similar a cartoon person. From your browser window, go started by clicking “Account” in the pinnacle right, and then click “Transfers.”