Fix: Robinhood Can’t Link Bank Account

When you sign up for Robinhood, the commission-free stock trading app, one of the first things you’re asked to do is link your bank account.

This allows Robinhood to pull your balance and transaction history so you can buy and sell stocks without having to type in your routing number and account number every time. 

However, sometimes it gets frustrating when we fail to link my bank account to Robinhood. Why is it happening? There could be certain reasons why Robinhood is not getting linked to your bank account. 

Robinhood Can’t Link Bank Account

If you receive the error message ” “Error: Please disable the added/extra security placed on the account,” you’ll need to either disable the two-factor verification setting on your bank account, or contact your bank to make sure there isn’t a problem with your online banking profile.”

When trying to link your bank account, it means that you have two-factor verification enabled on your bank account. To disable this setting, you’ll need to contact your bank.

How To Fix “Robinhood Can’t Link Bank Accounts”?

You can use the following methods to fix the issue and link Robinhood to your bank account:

1. Try To Add New Bank Account

You can start by trying to link a different bank account to the Robinhood platform. Because it may be an issue with your current bank account. Try to change your bank account then see you can link your bank account to Robinhood or not.

2. Add Your Bank Account Manually Into Robinhood

You can try adding your bank account manually. Do not choose your bank from the list instead, add all the details manually. If your account number links successfully, then the fix worked. 

3. Contact Robinhood Customer Support Team

If none of the fixes worked for you and you are unable to link your bank account to Robinhood, then you should contact Robinhood customer services as soon as you can. 

What Banks Are Supported By Robinhood?

Below are some banks  that Robinhood supports;  however, this list is not exhaustive:

• DBS
• OCBC
• UOB
• Standard Chartered Bank
• HSBC

Below Is A List Of Banks That Robinhood Does Not Support

• American Express
• Citibank
• Bank of America
• Wells Fargo

Also Read: How to get Robinhood Debit Card?

How To Add A Bank Account To Robinhood?

In Major Banks

It is easier to link a bank account if it is in a major bank. Also, linking your checking account instead of your savings account will save you from many potential transfer reversals.

Add A Bank Account To Robinhood Through Mobile App

The steps to link your bank account to your iOS or Android App are as follows:

• Click on the “account” icon present in the top right corner. 
• Click on “Transfers.”
• Select “Linked Accounts.”
• Click on “Add New Account.”
• Choose your bank from the given list. 
• Feed your online banking username and password.
• Select the account you would like to link.

Add A Bank Account To Robinhood Through Website

The steps to link your bank account using the Robinhood web app are as follows:

• Find the account icon in the upper right corner of your screen and click on it.
• Click on “Banking.”
• Go to Linked Accounts and click on “Add New Account.”
• Select your bank from the given list.
• Feed your online banking login username and password.
• Select the account you wish to add.

In Case Of Smaller Banks

When adding your bank account, if your bank is not on the list, then you’ll have to manually verify your account. The steps to link a bank account made in smaller banks are as follows:

Add A Bank Account To Robinhood Through Mobile App

The steps to link a smaller bank or credit union to your iOS or Android app are as follows:

• Click on the “Account” icon.
• Select “Transfers.”
• Select “Linked Accounts.”
• Click on “Add New Account.”
• Scroll down to find the option “More Banks” and click on it.
• Find your bank from the given list. If you can’t find it, click on “I don’t see my bank.”
• Choose savings or checking as applicable.
• Enter your account number and the routing number.

Add A Bank Account To Robinhood Through Website

Use the following instructions to add a small bank or credit union to your web app:

• Click on “Account.”
• Click on “Banking.”
• Go to Linked Accounts and click on “Add New Account.”
• Look for your bank in the list. If not found, select “I don’t see my bank.”
• Feed your account information.

After getting your information, Robinhood will make two micro-deposits to your bank account which can take up to 48 hours to be visible in your account. Then you can verify the account using the following steps:

• Click on the account icon..
• Select “transfers.”
• Select “Linked accounts.”
• Click on “verify.”
• Enter the amount of the two microdeposits. And confirm.

Also Read: Does Robinhood Report to IRS?

What Are The Fees For Robinhood?

The fees for Robinhood are as follows:

• A 0.25% commission on all executed buy and sell orders
• No withdrawal or deposit fees
• No inactivity or account closure fees
• No annual fees
• A minimum commission of S$0.50 on all orders

Why Is My Bank Not Supported By Robinhood?

It is because of an error. If you see the warning “Error: Please disable the additional security imposed on the account,” either disable the two-factor verification setting on your bank account or call your bank to make sure your internet banking profile isn’t broken.

Conclusion

Robinhood has been a popular app since it was founded in 2013, but there are some drawbacks. One such drawback is that the app cannot currently link to every bank account. This is what makes transferring money a bit difficult for users of the app.

While this may change in the future, for now, those who want to use Robinhood will need to be mindful of how they transfer money in and out of their account.

Also Read: Fix: Robinhood Account Withdrawal Disabled

Frequently Asked Questions