How To Withdraw Money From Robinhood?

Robinhood is considered the go-to finance application when buying stock, an ETF or investing their money into the stock market.

You can even buy and hold cryptocurrencies through the application. The most significant advantage beyond being able to finance at any time is to be able to sell your stock at any given moment.

In this article, you will learn about how one can withdraw funds from the Robinhood application. 

How To Withdraw Money From Robinhood?

For IOS Users

Steps to Withdraw Money From Robinhood For iOS Users:

1. Open up your Robinhood application.
2. Select the account icon on the downside of the screen.
3. Click on the transfers option.
4. Select “Transfers to your Bank.”
5. Select the bank account you wish to transfer the amount to.
6. Enter the amount you wish to transfer.
7. Click on “Submit.”

For Android Users

Steps to Withdraw Money From Robinhood For Android Users:

1. Open up your Robinhood application.
2. Select the account icon in the down corner of your phone.
3. Click on the menu option.
4. Select the Transfer option.
5. Tap on the Transfer to your bank.
6. Enter the amount you wish to transfer and continue.
7. You can now select the “from” option for finding your bank account for the “To” field.

From Robinhood Website

Steps to Withdraw Money From Robinhood Using Robinhood Website:

1. Launch your desktop browser and visit the official Robinhood website (https://robinhood.com/us/en/).
2. Login to your Robinhood account using your credentials.
3. Find and click on the “Account” option in the top-right corner of your screen. A drop-down menu will appear.
4. Find and click on the “Banking” option.
5. Enter the amount you wish to withdraw.
6. Confirm the transaction.

Also Read: Robinhood Mint Integration

How Long Does It Take To Withdraw Money From Robinhood?

From the moment one clicks the sell button on their Robinhood app to the time money is deposited into your account. The whole process takes somewhere around 7-8 Business days till the transaction is completed. The withdrawal from your Robinhood account takes about 2 trading days.

Robinhood Withdrawal Fee

There are no withdrawal fees associated with the Robinhood application; however, you might be charged by your bank in some circumstances. 

Robinhood Withdrawal Limit

You can withdraw up to $50,000 and 5 times in a given business day from the RobinHood application. 

How To Withdraw Money From Robinhood Immediately?

You can withdraw money from Robinhood immediately if you have a Robinhood Gold account or a Robinhood instant account. Then, you’ll have instant access to your proceeds from stock transactions and funds from bank deposits. This implies that if you sell your stocks today, you could access your funds immediately instead of waiting for 2 trading days.

With a Robinhood Instant account, you have instant access to up to $1000 instant deposits. A Robinhood Gold account will provide access to your tier amount in instant deposits. 

Also Read: How to Remove Pattern Day Trader Status Robinhood?

How To Withdraw Money From Robinhood Buying Power?

Steps to Withdraw Money From Robinhood Buying Power:

Step 1: Log in to your Robinhood account.

Step 2: Tap on the account icon on your phone.

Step 3: Now tap on the menu option 

Step 4: Click on the Transfer option.

Step 5: Select the “Transfer to your bank” option in your application.

Step 6: Fill in the dollar field and tap on the continue option.

Step 7: Now choose the “from” option to select the bank account and transfer the “To” field.

How To Cancel A Withdrawal In Robinhood?

A user might have to cancel a withdrawal in Robinhood for various reasons and the steps for the same are as follows:

Steps to How to Cancel a Withdrawal in Robinhood:

Step 1: Log in to your Robinhood account.

Step 2: Find and click on the “Account” icon.

Step 3: Find and click on the “History” option from the available options.

Step 4: Look for the “Pending” withdrawal you wish to cancel and select it.

Step 5: Click on “Cancel withdrawal” to cancel the withdrawal.

Make sure you do it before the transaction is complete.

Also Read: How to Avoid Robinhood Transfer Fee?

Final Thoughts

You have now learned about the withdrawal functionality in the Robinhood application and how one can use it at any given moment.

Frequently when there is too much volatility in the market, you might find it difficult to withdraw your money. However, In general, the platform is highly reliable and rarely ever has any issues withdrawing money. 

Frequently Asked Questions