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Written by Sam Pennington on March 12, 2023
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How To Transfer From Cash App To Robinhood 2023

Cash App and Robinhood are two platforms designed to make investing and banking easy.

Cash App was created in 2013 as a peer to peer lending service. Since, it has become much more. With banking and investment options, Cash App is expanding its user base rather quickly.

However, the investment options available in Cash App are rather limited. For some investors, Robinhood may have more of the options they are looking for. With Robinhood, members can bank, trade stocks and cryptocurrencies, buy and sell options, and more all from one app. In fact, Robinhood recently launched their new IRA feature. With it, members receive a 1% match on all their contributions. Overall, Robinhood has truly become a powerhouse for personal finance. With its many features, it's a great option to manage your crypto, stocks, and money.

So, if you want to move funds or other assets from Cash App to Robinhood, then you've come to the right place. In this article, we provide all the steps necessary to transfer from Cash App to Robinhood.

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How To Transfer From Cash App To Robinhood

In this article, we are going to cover transfers from Cash App to Robinhood. This will include transferring stocks and cash, though these are two different processes.

First, we will cover how to transfer cash from one to the other. And second, we will review the steps to perform an ACATS transfer, which is a process to move your stocks.

Transfer Cash From Cash App To Robinhood

In order to transfer cash from Cash App to Robinhood, you will need to add a new linked bank account to Robinhood. (If you do not already have a Robinhood account, the steps to create an account are listed in the next section.)

The steps to link Cash App and Robinhood are as follows:

  1. Open and login into the Robinhood App. Create a new account first if needed.
  2. Tap the person symbol located in the bottom navigation menu
  3. Tap the 3 bar icon in the top left
  4. Choose "Transfers"
  5. Select "Transfer Money"
  6. In the from space, click on "Select an account" and choose the “Add Account" option
  7. This will open a new window from Plaid, a third party security company
  8. Cash App is currently not a listed option, so you will need to link manually. In order to do so, type in Cash App in the search bar. No results will be found. Click on the "Link Manually" option
  9. Choose the account type (Checking or Savings)
  10. Enter your Cash App Account number and routing number

Now to actually make a transfer, you will repeat steps 1-5 above. Instead of adding a new account, you will simply select the account you just added. Once you click "Transfer Money," you will enter in the amount you would like to transfer and select the from and to options.

This type of transfer can take a few business days to complete.

Transfer Stocks From Cash App To Robinhood

Transferring stocks from Cash App to Robinhood is actually quite simple as both brokerages support ACATS (Automated customer account transfer service).

With ACATS, you do not have to liquidate your positions and create a taxable event. Instead, you transfer the asset ownership to a new brokerage.

This process can be completed in just a few minutes, though the assets may take up to 7 business days to appear in your Robinhood account.

Robinhood does not charge for incoming ACATS transfers, but Cash App charges $75 for outgoing transfers. Robinhood will actually reimburse you for this fee. In order to get the reimbursement, you will need to reach out to Robinhood's customer service team.

In order to transfer from Cash App to Robinhood, you will need to follow the steps below:

  1. Open a Robinhood Account (If you do not already have one)
  2. Gather Information From Cash App
  3. Initiate an ACATS transfer

Let's jump into each of these steps in more detail!

1. Open A Robinhood Account

Robinhood Logo

Opening an account with Robinhood is fairly simple. If you already have an account, you can skip to the next step!

To apply for a Robinhood account, you’ll need to meet the following requirements:

  • Be 18 years or older
  • Have a valid Social Security Number (not a Taxpayer Identification Number)
  • Have a legal U.S. residential address within the 50 states or Puerto Rico (there may be exceptions for active U.S. military personnel stationed abroad)
  • Be a U.S. citizen, U.S. permanent resident, or have a valid U.S. visa.

Use the button above to get a completely free stock when you sign up!

If you meet these requirements, you are then ready to open a Robinhood account. The process is pretty simple and can be completed by submitting an application in the app. After downloading the app, you will select the register option. The application will then be reviewed and takes a few days for review. You will either receive an email confirming your account or asking for more information.

2. Gather Information From Cash App

In order to initiate the ACATS transfer from Cash App to Robinhood, you will need to find your account number. This number can be found at the top of any trade confirmations or monthly statements.

This transfer may also need a Depository Trust Company, or “DTC” participant number. The DTC number for this ACATS transaction is 3856.

With the account number, you are all set to initiate the transfer.

3. Initiate ACATS Transfer

Once you have your account number, the transfer is pretty simple. You will perform the steps below within the Robinhood app.

  1. Tap the person icon along the bottom navigation menu
  2. Tap the three lines icon in the top left
  3. Select "Transfers"
  4. Choose "Transfer accounts into Robinhood"
  5. Select Cash App by typing it in the search bar
  6. Enter in your account number
  7. Confirm your account name
  8. Answer whether or not your Cash App account has mutual funds or bonds
  9. Choose full or partial transfer
  10. Review the transfer and submit

This process can take up to 7 business days.

If you select the partial account transfer, then you will be able to select which assets you want to move.

You ought to be aware that you are not able to transfer the following assets:

  • Fractional shares
  • Cryptocurrencies
  • Options contracts expiring within 7 days
  • Unsupported options strategies
  • Mutual funds
  • Bonds
  • Futures
  • Annuities

These types of assets will need to be liquidated prior to requesting the transfer.

Transfer From Cash App To Robinhood: Final Thoughts

Cash App has both banking and investing capabilities. Because of this, you may want to transfer cash or stocks. Each of these options is possible, just requires a different set of steps.

Robinhood is a great option for many as it was designed for beginner investors, though the platform does have a number of additional features such as margin, options, crypto, and banking.

If you want to move your assets to Robinhood, then the steps listed above should be all you need!

Be sure to check out our full Robinhood review to learn more about the platform.

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.

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