How to Withdraw Money on Robinhood

Robinhood makes it really easy to open an account, deposit money, and start investing.

Withdrawing money, however, isn't quite as simple.

Here's everything you need to know about Robinhood withdrawals, including where to navigate, what "withdrawable cash" means, how much you can withdraw, how long you'll have to wait, and how you can avoid paying any fees.

How to transfer money out of Robinhood

You can withdraw money from Robinhood via your computer or mobile device.

Here are the steps for either:

Computer	Mobile
1. Select Account	1. Select Account (person icon), then Menu (3 horizontal lines)
2. Select Transfers	2. Select Transfers
3. Select Transfer money	3. Select Transfer money
4. Choose the amount to transfer, which account you want transfer money from, and which account you want to transfer money to	4. Choose the amount to transfer, which account you want transfer money from, and which account you want to transfer money to
5. Set the frequency	5. Set the frequency
6. Choose between Standard Transfer or Instant Transfer and review any fees (if applicable)*	6. Choose between Standard Transfer or Instant Transfer and review any fees (if applicable)*
7. Review and confirm the withdrawal	7. Review and confirm the withdrawal

*For more information on the difference between Standard Transfers and Instant Transfers, and the applicable fees, read the next section.

Standard Transfers vs Instant Transfers

You can withdraw your funds from Robinhood with a Standard Transfer (ACH bank transfer) or with an Instant Transfer (debit card or bank).

1. Standard Transfer — Bank transfer (ACH)

• Time: 3-5 business days
• Daily limit: $50,000
• Fee: n/a

The main advantages to using an ACH transfer is the transaction is free and you can withdraw up to $50,000 per day. However, most bank transfers take between 3-5 days to complete.

If you need access to your money faster you'll need to use an Instant Transfer, and pay a small fee.

2. Instant Transfer — Debit card or bank

• Time: Approximately 30 minutes
• Daily limit: $5,000
• Fee: 1.75%*

*There is a minimum fee of $1 and a maximum fee of $150 per transfer.

The main advantage of using an Instant Transfer is speed. However, you can only withdraw $5,000 per day and will be charged a 1.75% fee, or $17.50 on every $1,000 you withdraw.

What is "withdrawable cash" on Robinhood? 

Robinhood refers to the amount of money that's available for withdrawal as “withdrawable cash.”

Withdrawable cash is any money that is settled and not being held for a pending order.

Settlement periods

After selling stocks or depositing money into your brokerage account, funds will take 1–3 business days to settle before they're accessible. This is known as the “settlement period.”

If you have a margin account, you can buy and sell with these funds while they're settling, but you can't withdraw funds that are in their settlement period.

This only applies to the amount being settled, however — any other funds you have in your account are still accessible during this period.

Pending orders

If you have pending orders placed, the amount required for the transaction will not be available in your withdrawable cash. To access this money, simply cancel the pending trade order.

To see/cancel pending orders, go to Account → History.

Referral stock

If you received referral stock after signing up for Robinhood, you can sell the stock within a few days (after it has settled in your account).

However, there is a 30-day window before you will be able to withdraw those funds from your account.

Why can't I withdraw my money from Robinhood?

Beyond withdrawable cash restrictions, there are a few other reasons you might not be able to withdraw your money.

Account restriction

There are a number of reasons for your account being placed under restriction, such as:

• Attempting to buy stock in a company in which you're a company control person
• Incorrect or outdated account information
• Reversing a pending bank transfer
• Account levies filed against you
• Suspected fraudulent activities
  

If you have an account restriction, contact Robinhood to resolve the issue.

A new bank account

You can only send funds to bank accounts that are already connected.

If you don't see the bank account you want to withdraw to listed as an option, you'll need to connect it first.

To connect your bank account, you'll need to make a deposit. Select Account → Transfers → Transfer money, enter your desired deposit amount, choose your bank from the list, and review and confirm the deposit. 

Once the deposit settles, you'll get a notification that your funds are available to trade and your bank account is linked.

You can then transfer all of your funds to the newly linked bank account.

How to cancel a withdrawal from Robinhood

To cancel a pending withdrawal, go to Account → Menu → History, select the transaction you want to cancel and select Cancel transfer.

Robinhood alternatives

Now that you've withdrawn your money from Robinhood, you may be in the market for a new brokerage account.

If so, here are two we recommend:

• For long-term investors, we like Public. Public has most of the same benefits of Robinhood — a sleek mobile app, easy-to-use platforms, and commission-free stock and ETF trades. You can invest in stocks, ETFs, cryptocurrencies, Treasury bonds, corporate bonds, and collectibles, all from the same account.

• For short-term traders, we like Moomoo. Like Robinhood, you can invest in stocks and ETFs commission-free, as well as pay $0 for options contracts. You'll also unlock more market data with a funded account, and Moomoo offers new users up to 60 free shares with this link.

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FAQs when withdrawing money from Robinhood

Below are a few more questions you may have about withdrawing money from Robinhood.

Can money be withdrawn from Robinhood?

Yes, you can withdraw money from Robinhood.

That said, you're only able to transfer out what Robinhood refers to as “withdrawable cash” — funds that have settled following a recent transaction or deposit.

Are there fees for withdrawing money from Robinhood?

No, Robinhood does not charge fees for standard ACH withdrawals. You will not pay a fee on deposits or withdrawals to or from Robinhood.

However, if you choose to withdraw your money via debit card (which takes just 30 minutes instead of up to 5 business days), you will be charged a 1.75% fee.

What are the limits for withdrawing cash from Robinhood?

Here are the most common limits users bump into when withdrawing money from their Robinhood account:

• You can only withdraw funds that are settled, which Robinhood refers to as “withdrawable cash.”
• Your withdrawal amount must be between $0.01 and $100,000 per transaction.
• You can only make up to 5 withdrawals per day.

How long do Robinhood transfers take?

Robinhood bank transfers take between 2–5 business days.

While the withdrawal amount will immediately be deducted from your portfolio balance, the funds will show as “Pending” in your History until the funds clear.

When can I sell my reward stock and get cash?

If another user signed up to Robinhood through your referral link, Robinhood will pay you $5 in a stock of your choosing.

You can immediately sell this stock and use the proceeds for other investments, but you can't withdraw the cash from the sale until 30 days have passed.

Is there a fee for transferring funds to another brokerage?

Robinhood charges a $100 fee for transferring funds from your Robinhood account (via ACATS) to another brokerage (like Public).

If you don't want to pay this fee, you could sell all of your positions, wait for the funds to sell, then transfer the money to your bank. You could then deposit the money into your new brokerage account. 

However, using this method will have tax implications from closing existing positions. If you have more than $500 in gains, you're probably better off making a transfer.

With a transfer, Robinhood will sell any crypto positions and send the proceeds to the other brokerage, while stock and ETF positions will be sent as-is.

For example, if your Robinhood account has $50 worth of bitcoin, $50 in cash, and one share of Apple (AAPL), the bitcoin will be sold and your new account will contain $100 in cash and one share of Apple.