The basic steps to transfer money out of Robinhood
To move cash from Robinhood to your bank account, you open the Account menu, select Transfers, choose Withdraw, and enter the amount and your linked bank account. Robinhood then sends the money to that account, which usually takes one to three business days. The process is the same whether you are transferring cash you deposited or proceeds from selling stocks and options.
Before you transfer, make sure your bank account is already linked to your Robinhood account. If it is not, you will need to add it first — Robinhood will ask for your routing number and account number, and may verify the account by depositing two small test amounts that you then confirm in your bank's records.
You can only withdraw to a bank account in your own name. Robinhood will not send money to someone else's account, a wire service, or a payment app like Venmo or PayPal.
Key Takeaways
- Transfers from Robinhood to a linked bank account take one to three business days and happen through the Account menu under Transfers.
- Your bank account must be linked to your Robinhood account before you can withdraw, and Robinhood verifies new accounts with two small test deposits.
- You can only transfer to a bank account in your own name — not to another person, payment app, or wire service.
- Robinhood does not charge a fee to withdraw money, but your bank may charge a fee for receiving an incoming transfer.
- If your transfer does not arrive within three business days, check your bank's incoming transfer settings and contact Robinhood support with your transaction ID.
How to link a bank account to Robinhood for the first time
Go to Account, then Transfers, then select the option to add a new bank account. Enter your bank's name, your account type (checking or savings), your routing number, and your account number. You can find both numbers on a check, in your bank's mobile app, or by calling your bank.
Robinhood will then deposit two small amounts — usually between $0.01 and $0.99 each — into that account. Within a few business days, you will see those deposits in your bank account. Go back to Robinhood, select the account you are verifying, and enter the two amounts. Once Robinhood confirms them, the account is linked and ready to use.
This verification step protects both you and Robinhood by proving you own the bank account. If you enter the wrong routing or account number, the test deposits will go to someone else's account and your account will not verify.
What happens when you request a withdrawal
When you submit a withdrawal request, Robinhood when ready sets aside the money in your account. The money leaves Robinhood's system and enters the banking network, which usually takes one to three business days. Weekends and bank holidays add time — a withdrawal requested on Friday afternoon may not arrive until Wednesday.
You can check the status of a pending transfer in the Transfers section of your Account menu. Robinhood shows you the date you requested it, the amount, the destination bank, and an estimated arrival date. Once the money arrives at your bank, your bank's records will show it as an incoming transfer.
If you need to cancel a withdrawal, you can do so only if it has not yet left Robinhood's system — usually within a few hours of requesting it. After that, the transfer is in the banking network and cannot be stopped through Robinhood.
Fees and limits on withdrawals
Robinhood does not charge you a fee to withdraw money to your bank account. However, your bank may charge a fee for receiving an incoming transfer, depending on your account type and your bank's policies. Check with your bank if you are unsure.
Robinhood does not publish a daily or monthly limit on how much you can withdraw. However, if you are withdrawing proceeds from a recent stock or options sale, the money may be subject to settlement rules. Stock sales settle in two business days, and options sales settle in one business day. Until settlement is complete, that money may not be available to withdraw.
If you are a day trader using Robinhood's margin account, additional rules explore to when you can withdraw unsettled funds. Contact Robinhood support if you are unsure whether your funds are settled.
Why your transfer might be delayed or fail
The most common reason a transfer does not arrive on time is that your bank has restrictions on incoming transfers. Some banks require you to turn on a setting that allows transfers from external sources, or they may flag transfers from investment accounts as suspicious and hold them for review. Log into your bank's website or app and look for settings related to transfers or external accounts.
If your bank rejected the transfer, you will see a message in Robinhood's Transfers section explaining why. Common reasons include a closed account, a mismatched account number, or a frozen account. If the account information was wrong, you can delete the linked account and add it again with the correct details.
If you have the correct account information, your bank is not blocking transfers, and the money still has not arrived after three business days, contact Robinhood support. Have your transaction ID ready — you can find it in the Transfers section next to the withdrawal request.
Transferring money from a joint or trust account
If your Robinhood account is registered as a joint account or a trust, you can still withdraw to a bank account, but the bank account must match the registration type. A joint Robinhood account can only withdraw to a joint bank account in the same names. A trust account can only withdraw to a bank account in the trust's name.
When you link the bank account, Robinhood will ask you to confirm the account registration type. If the names do not match, Robinhood will not allow the transfer. Contact your bank if you need to change how the account is registered, or contact Robinhood support if you have questions about your account registration.
Frequently Asked Questions
How long does it take for money to show up in my bank account?
Most transfers arrive within one to three business days. Weekends and bank holidays do not count as business days. If you requested the transfer on a Friday, it may not arrive until the following Wednesday or Thursday. If it has been more than three business days and the money has not arrived, check your bank's transfer settings and contact Robinhood support with your transaction ID.
Can I withdraw money that I just deposited?
Yes, you can withdraw money you deposited when ready. However, if you used that money to buy stocks or options, you may have to wait for the sale to settle before you can withdraw the proceeds. Stock sales settle in two business days, and options sales settle in one business day.
What if I linked the wrong bank account?
You can delete the incorrect account from your Transfers settings and add the correct one. If you already sent a withdrawal to the wrong account, contact Robinhood support right away with your transaction ID. Robinhood may be able to stop the transfer if it has not yet left their system, but once it enters the banking network, you will need to contact the bank that received it.
Do I have to pay taxes on money I withdraw?
Withdrawing cash you deposited is not a taxable event. However, if you are withdrawing proceeds from selling stocks or options at a profit, that profit is subject to capital gains tax. Robinhood sends you a tax form at the end of the year showing your gains and losses. Consult a tax professional about your specific situation.
Can I set up automatic recurring withdrawals?
Robinhood does not offer automatic recurring withdrawals. You must request each withdrawal manually through the Transfers section. You can request multiple withdrawals at once if you want to move a large amount, but each one must be submitted separately.