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Robinhood is offering new users 1 free stock worth between $3 and $225 when you open an account and fund it with any amount of money.
Written by Jenna Doege on February 6, 2021
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How To Transfer From Robinhood To Bank 2021

Regardless of if you have been investing in Robinhood for days, weeks, months, or years, there may come a time that you want to withdraw from the brokerage. We have the different steps you will need to take to assure a secure and simple transfer of your investments to your bank account.

Selling your Shares

The initial step to getting your funds transferred to your bank account from Robinhood is to sell your shares. This is where you can decide if you wish to keep some of your shares or sell all of them. Here are the steps for the selling process:

Mobile

  1. Find the stock you are looking to sell and click Trade
  2. Then tap on Sell
  3. Choose the Sell in Dollars option in the upper right corner
  4. Click on Review to make sure the information is correct
  5. Swipe up to submit your request

Web

  1. Find the stock you wish to sell and navigate to the details page for that specific one
  2. Click Sell in the options window
  3. Choose Sell in Dollars in the drop-down menu
  4. Review the information to make sure it is correct
  5. Submit your sell order 

Transferring to Bank Account

It then will take the day of the trade plus two more trading days for the funds to settle before being available for withdrawal. Before the next step, you will need to choose between a partial or a full withdrawal depending on your needs. Below are the steps for each platform withdrawal process.

robinhood transfer

Mobile

  1. Tap on your Account in the bottom right corner of the screen
  2. Click Transfers and choose Transfer to Your Bank
  3. Choose the bank account you wish to transfer to

*We will cover what goes into transferring to a different account below

  1. Enter the dollar amount you wish to transfer
  2. Click Submit once you have verified the information is correct

Web

  1. Click Account in the upper right-hand corner
  2. Tap Banking
  3. Using the panel on the right side, initiate a bank transfer from Robinhood

Robinhood Withdrawal Factors

Pending Deposits

Once you have gone through the steps to withdraw money into your connected bank account, it may take up to five trading days to be ready for withdrawal. Within that time period, this money cannot be invested. 

Separate Bank Account Deposit

This would be the case if you wish to deposit your funds into a different account than the one you had originally been depositing funds into Robinhood with. One of the largest drawbacks, if you are on a time crunch, is that it may take 60 days to verify the account due to the verification process. 

You may be prompted to give some of the reasoning as to why you are using a different account than the one already connected to Robinhood.

As a result, your best bet is generally to withdraw to the same account you initially linked to your Robinhood account.

Withdrawing Your Referral Stock

One of the perks Robinhood gives their investors is the free stock received when signing up. If that is one of your stocks you are looking to withdraw from, there is a thirty-day holding requirement to be able to do so.

This means that you'll have to wait a full month after opening your account to cash out on that free stock.

Summary

Before withdrawing from Robinhood, make sure you have a strong understanding of the different processes you will need to go through to do so. We hope this article can be a resource for you to use time and time again as you go through your investing journey.

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Robinhood Transfer To bank
Article written by Jenna Doege

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