Investing Simple Logo
Menu
Get 1 Free Stock Worth Up To $200 From Robinhood!
Sign up with Robinhood, deposit any amount and get 1 Free Stock. It takes less than 3 minutes to sign up and claim your Free Stock Bonus.
Webull free stock promotion
Get Up To 5 Free Stocks From Webull
Open a new Webull brokerage account today and deposit any amount of money to receive 5 free stocks. Webull offers commission free stock, ETF, option and crypto trading.
Written by Sam Pennington on March 27, 2023
Category: 
FTC Disclosure

Can I Transfer Money From A Debit Card To Robinhood?

Robinhood is a popular investing app that allows users to buy and sell stocks, options, and cryptocurrencies.

One of the features of the app is the ability to transfer funds from your linked bank account to your Robinhood account, which you can then use to invest in securities.

But what about transferring money from a debit card to Robinhood?

Debit Card Transfers

The good news is that you can transfer money from a non-Robinhood Visa or Mastercard debit card to your Robinhood account.

However, there are a few steps you need to take to link and verify your debit card before you can make a transfer.

How To Link Debit Card

To link and verify your debit card in the Robinhood app or on the web, you need to go to your account, select Transfers, then Linked accounts, and Add account.

From there, select Debit card and enter your card information. Once you've entered your information, tap Link card.

Next, Robinhood will temporarily charge $1.95 to your bank account to confirm your debit card. This charge typically appears in a few minutes, but it may take longer depending on your bank.

You'll need to check your bank account and find the $1.95 charge with RH* followed by a 6-digit code on your statement.

Copy the 6-digit code, return to the Robinhood app, and select Continue.

Enter the code and select Confirm, and you'll receive confirmation in the app when your card is successfully verified and ready to use.

Once your debit card is linked and verified, you can transfer funds to your Robinhood account.

Instant Transfer Fee

The fee is 1.5% of the withdrawal amount, which is deducted from the requested amount when it’s transferred.

It's important to note that there are limits to how much you can transfer from your Robinhood account using a debit card. You can withdraw up to $5,000 per day with instant transfers and up to $50,000 via standard transfers (ACH) to a linked bank account.

In conclusion, while you can transfer money from a non-Robinhood Visa or Mastercard debit card to your Robinhood account, there are a few steps you need to take to link and verify your card before you can make a transfer.

Additionally, there are limits on how much you can transfer using a debit card, so be sure to keep that in mind when making transfers. But the good news is that transfers from your debit card to Robinhood are easy.

This article was generated using automation technology, and thoroughly edited and fact-checked by an editor on our editorial staff.

Article written by Sam Pennington
Sam is a personal finance writer. While in college, he dedicated his spare time to learning about personal finance, investing, and real estate. Sam currently works as a business analyst for one of the top food manufacturers in the world.

Read more

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Fundrise
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
Copyright © 2018 – 2023 Investing Simple LLC. All Rights Reserved.
Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
Website managed by Stallion Cognitive™
magnifiermenuchevron-downcross-circlechevron-down-circle

Get 1 Free Stock Worth Up To $200 From Robinhood!

Don't Miss This Opportunity!

Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.

18749
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram