How Long Does It Take to Get Money from Robinhood?

Discover the factors determining the fund transfer duration on Robinhood.

Learning about the intricacies of fund transfers on Robinhood is important to effectively manage your financial transactions. Moreover, understanding the timing for accessing your funds can also play an important role in achieving your financial goals. With this guide, you will understand how long it takes to withdraw your money from Robinhood and the factors that influence the process.

How Long Does It Take to Get Money from Robinhood?

How Long Does It Take to Get Money from Robinhood?

If you know how long it takes for funds to transfer in Robinhood, it can help you make timely investment decisions. It also helps you plan your investments for both short-term needs and long-term goals. Robinhood takes up to five business days to transfer funds to your bank account after you initiate a withdrawal. It is due to a standard settlement period for securities transactions in the United States.

During this time, Robinhood is processing the withdrawal, and the funds are being transferred from the brokerage to your bank. This timeframe can be longer if there are any issues or delays with the withdrawal. For instance, it could take longer to receive your money if you:

  • Don’t have sufficient funds in your account to cover the withdrawal
  • Face technical issues with the transfer

Additionally, the timeline for withdrawing funds may be shorter if you have a Robinhood Gold account. With a Gold account, you can get instant access to up to $50,000 in buying power and withdraw up to $5,000 instantly. However, there may be fees associated with the gold account that you’ll want to be aware of before signing up.

Do You Get Money Instantly from Robinhood?

No, you do not get money instantly from Robinhood. When you sell stocks on Robinhood, the proceeds will be immediately available as buying power in your account. However, if you want to withdraw the money to your bank account, it can take a few days as explained above.

Also Read: Is Robinhood Legit for Investing?

How Do I Get Money into My Robinhood Account?

To deposit money into your Robinhood account, you can follow these steps:

1. Open the Robinhood app on your phone.

Note: Make sure you are signed into your Robinhood account.

2. Tap on the Profile tab from the bottom panel.

Tap on the Profile icon | withdraw money from Robinhood

3. Tap on the Transfers option.

Tap on the Transfers option

4. Now, select the Transfer to Robinhood option to deposit money into your Robinhood account.

select the Transfer to Robinhood option

5. Enter the desired amount you want to deposit and tap on Review.

6. Finally, tap on Submit to transfer funds to your Robinhood account.

After you transfer funds into your Robinhood account, you’ll need to wait for them to clear. It usually takes 3-5 business days, depending on your bank.

Also Read: How to Cancel Robinhood Deposit

How Much is Robinhood Withdrawal Fee?

The Robinhood withdrawal fee varies depending on the method you choose. Here’s a concise breakdown:

  • Bank Transfers (ACH): There is no fee for standard ACH withdrawals or closing your Robinhood account.
  • Immediate Withdrawals: If you opt for an immediate withdrawal to a debit card or bank account, there may be a 1.5% fee.
  • Wire Transfers: If you prefer to make a wire transfer, Robinhood charges a $25 fee for domestic transfers and a $50 fee for international transfers. Wire transfers typically take 1-2 business days to complete.

To summarize, Robinhood does not charge fees for standard ACH withdrawals or closing your account. However, immediate withdrawals may incur a 1.5% fee, and wire transfers have associated fees of $25 for domestic transfers and $50 for international transfers.

How Do I Withdraw Money from Robinhood?

First, let’s understand the various withdrawal limits on Robinhood:

  • For banking accounts: You may withdraw money from any of your Robinhood accounts up to five times each business day. You can withdraw up to $50,000 from your Robinhood accounts to a connected bank account and $5,000 via Instant transfers each working day.
  • For debit cards: Your daily withdrawal limit from any Robinhood account is $5,000.

If you’re looking to withdraw money from your Robinhood account, you’ll be pleased to know that it’s a relatively straightforward process. Let’s see how to do so:

1. Tap on the Profile icon in the Robinhood app.

2. Tap on the Transfers option from the menu.

3. Now, tap on Transfer to Your Bank.

tap on Transfer to Your Bank |

4. Enter the desired amount you want to withdraw.

5. Tap on Review > Submit.

Also Read: Is There a Penalty If I Withdraw Money from Acorns?

We hope you have understood how long does it take to get money from Robinhood with the help of this guide. You must have also learned the withdrawal fees and processing times for various methods. Share your remarks in the comments below and keep coming back for more interesting articles.

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