Robinhood is a financial services company that claims to provide commission-free stock trading. One of the features of this service is instant deposits; users can instantly make transactions on their accounts.
However, many users have reported that they cannot withdraw the money back into their bank account after instant deposits.
Reasons For You Can’t Withdraw Money From Robinhood
There are a few reasons why you will most likely be unable to withdraw money from Robinhood.
The first reason is attempting to eliminate funds before the settlement time frame is over. It’s also due that you might have made many withdrawals within 24 hours or that you’re attempting to withdraw an excess of cash.
If not, it is possible that you can’t take out the money because of restrictions on the account.
Expecting your account has, as of now, been approved, you’ll possibly be kept from withdrawing money, assuming you’re going over the limit.
Robinhood just permits up to five withdrawals each workday. Anything else than that will be denied. Also, your withdrawal must be up to $50,000 dollars each workday across all withdrawals.
Also Read: How to Reactivate Robinhood Account?
Why Can’t I Withdraw Instant Deposits, Robinhood?
You can not withdraw the instant deposits from the Robinhood account if the account is restricted. Robinhood restricts the account sometimes;
if the user account balance is negative, any transaction in the account is reversed, if Robinhood suspects that the user is a fraud or many other reasons. You need to contact Robinhood for further transactions.
These are undeniably more uncommon, normally just showing up for clients who change their connected account or have shown strange behavior or exchange patterns.
Assuming you suspect your account might be restricted, you’ll have to reach out to Robinhood support straightforwardly.
What Is The Robinhood Withdrawal Limit?
The withdrawal limit in RobinHood is up to five per account per business day. And the withdrawal should not exceed $50,000 per business day.
Final Thoughts
Robinhood can restrict the withdrawal of money on some conditions that we have mentioned above. However, most people do not know how to fix them or are unaware of those conditions.
To successfully withdraw money from the Robinhood account, get in touch with the support team. We hope this article has helped you understand the common reasons people can’t withdraw their funds.
Also Read: Is Robinhood Legal and Safe?
