Pinned Asked: May 15, 20222022-05-15T06:59:46+01:00 2022-05-15T06:59:46+01:00In: Business & Finance How do I Withdraw money from my Robinhood account? Anonymous How do I withdraw money from my Robinhood account? 1 Answer Recent Voted Oldest admin Enlightened 2022-05-15T07:05:47+01:00Added an answer on May 15, 2022 at 7:05 am Robinhood Markets, Inc. is an American financial services company headquartered in Menlo Park, California, known for pioneering commission-free trades of stocks, exchange-traded funds and cryptocurrencies via a mobile app introduced in March 2015. Robinhood has commission-free investing, and tools to help shape your financial future. Sign up and get your first stock free. Before finalising a withdrawal from your Robinhood account, you may want to note that; You can make up to 5 withdrawals per business day into your account. You can withdraw up to $50,000 per business day from Robinhood. Withdrawal rules Deposit pending A deposit can take up to five 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. Settlement period Following a sale in your brokerage account, the transaction needs to “settle” before you can withdraw them to your bank account. The settlement period 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 show that you are the account holder of the two linked bank accounts. Photos or PDFs must be clear and easy to read. The amount and a 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. Robinhood Gold If you are using the margin investing feature on Robinhood Gold, you will need to maintain a brokerage account value of at least $2,000 (minus any cryptocurrency positions) to meet the minimum requirements to borrow. In order to withdraw below $2,000, you will need to turn off margin investing in Settings. How do I withdraw money from my Robinhood account? Procedure for iOS users To transfer your funds to your bank account on your iOS app: Tap the Account icon in the bottom right corner Tap Transfers Tap Transfer to Your Bank Choose the bank account you’d like to transfer to Enter the amount you’d like to transfer to your bank Tap Submit Using the Android App To transfer your funds to your bank account on your Android app: Tap the Account icon in the bottom right corner Tap Transfers Tap Transfer to Your Bank Choose the bank account you’d like to transfer to Enter the amount you’d like to transfer to your bank Tap Submit Via the website To transfer your funds to your bank account on your web app: Click Account in the upper right corner of the screen Click Transfers Initiate a transfer from Robinhood to your bank account using the panel on the right Canceling a withdrawal To cancel a pending withdrawal in your mobile app: Tap the Account icon in the bottom right corner. If you’re an Android customer or have more than one account on Robinhood: Next, tap the Menu icon in the top right (3 horizontal bars). Tap History. Tap the pending withdrawal you want to cancel. Tap Cancel Transfer. 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. On weekends, you can cancel transfers up until 3:00 PM ET the following Monday. Source: https://robinhood.com/us/en/support/articles/withdraw-money-from-robinhood/ 0 Share Share Share on Facebook Share on Twitter Share on LinkedIn Share on WhatsApp You must login to add an answer. 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