To withdraw money from Robinhood, the steps are: From the Robinhood mobile app:
- Tap the person icon to go to the "Account" page.
- Open the menu with three bars.
- Select "Transfers."
- Tap "Withdraw."
- Enter the withdrawal amount.
- Choose the Robinhood account to withdraw from (such as Investing or Retirement).
- Select a linked bank account or debit card for the transfer.
- Choose between an instant withdrawal (which may incur a fee) or a regular ACH bank transfer.
- Confirm all details and tap "Transfer" to complete.
From the Robinhood desktop website:
- Go to the "Account" tab.
- Select "Transfer" then "Transfer Money."
- Enter the withdrawal amount.
- Choose the Robinhood account.
- Select the linked bank account or debit card.
- Choose the transfer type (instant or ACH).
- Review and confirm the withdrawal.
A few important notes:
- Standard bank transfers (ACH) have no fees; instant transfers have a fee (around 1.75% of the amount).
- Withdrawable cash excludes funds from unsettled trades (which settle in one trading day after sale for stocks/options).
- If withdrawing from Robinhood Strategies managed accounts, asset sales may be needed, causing a delay.
- For cryptocurrency, Robinhood also allows withdrawals to external wallets after identity verification.
In summary, withdrawal is straightforward after selecting the transfer type and destination, but settlement periods and fees apply depending on method and account type.
