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Written by Jenna Doege on December 28, 2021
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How To Transfer From Robinhood To Your Bank 2023

Robinhood is a commission free trading app which supports stock, ETF, options and even crypto trading.

There comes a time when you may want to transfer your funds out of your Robinhood account and over to your bank account.

In order to transfer money out of Robinhood, you need to have a cash balance within your Robinhood account. When you sell off shares of stocks, for example, the proceeds go to your cash balance and that can be transferred to your bank once the funds settle.

So, if you haven't done so already, the first step is to sell the shares you plan to in order to free up some cash.

Limited Time: Robinhood 1% Transfer Bonus

If you transfer an existing brokerage account to Robinhood through January 31st 2024, you can get an Unlimited 1% Transfer Bonus.

Robinhood Transfer Bonus

For example, if you transferred a brokerage account worth $50,000 - that would be a bonus of $500.

In addition, Robinhood offers a free stock for new users as well as a 1% IRA match for retirement accounts.

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How To Sell Assets On Robinhood

Mobile App Instructions:

  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

Desktop Platform Instructions:

  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

Once you sell assets on Robinhood, the amount you sell will be available in your cash balance visible on the homepage of the app. However, it will take a few days for the trade to settle before the funds are available for transfer to your bank account. 

Once the funds have settled, here's how to transfer! By default, it will transfer those funds to the original bank account you linked with Robinhood. If you want the funds to go to a different bank account, you will have to link that account beforehand.

Mobile App Instructions:

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

Desktop Platform Instructions:

  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

Final Considerations

Those are the simple steps involved with transferring money from Robinhood to your bank account! Once you initiate the transfer, it may take a few business days for the money to show up in your bank account.

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.

Don't forget to grab your free stock worth up to $200 from Robinhood today!

Article written by Jenna Doege

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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.

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