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Written by Sam Pennington on May 3, 2023
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How To Transfer From Venmo To Robinhood 2023

Venmo is a top choice for many when it comes to peer to peer money transfers. The platform makes it easy to move funds from a bank to a friend or new account.

Many individuals wonder if they can move the funds in their Venmo account directly to an investment account such as Robinhood. While a direct transfer is not possible, you can certainly move your funds to Robinhood.

In this article, we will cover the steps to transfer from Venmo to Robinhood. Let's jump right in!

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How To Transfer From Venmo To Robinhood

Because Venmo is not an investing platform, many members seek to move their funds to an app such as Robinhood.

Unfortunately, there is not a way to directly transfer your funds from Venmo to Robinhood. Instead, you will need to follow the steps below:

  1. Sign up for a Robinhood Account (if you do not already have an account)
  2. Transfer your Venmo cash to your bank
  3. Link your bank to Robinhood
  4. Transfer from your bank to Robinhood

Let's take a closer look at each of these steps!

1. Create a Robinhood Account

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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. Transfer from Venmo to your Bank

Transferring from Venmo to your bank is very simple. Follow the steps below:

  1. Open the Venmo app and login if needed
  2. Tap the person icon on the right in the bottom navigation menu
  3. Select the "Manage Balance" choice underneath your Venmo balance
  4. Choose "Transfer to Bank"
  5. Enter in the amount you would like to move. Venmo will automatically set up the transfer with your entire balance. You can edit this number by tapping on it.
  6. Choose to transfer your funds instantly (this option comes with a 1.5% fee or a max of $15) or regularly through the 1-3 business day option
  7. Select a bank account to transfer to
  8. Tap "Transfer $XX"

If you need to link a bank account to Venmo, you can do so by clicking on the "Add a bank" selection after tapping on the bank in the "Transfer to" space.

3. Link your Bank to Robinhood

In order to transfer cash from Venmo to Robinhood, you will need to add a new linked bank account to Robinhood. (If you have already linked a bank account, then you can skip this step.)

The steps to link a bank account and Robinhood are as follows:

  1. Open and login into the Robinhood App
  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. Click "Continue" to move to the next screen.
  8. Search for your bank in the search bar. If your bank is not listed after searching, click the "Link Manually" option. If you need to link manually, follow the sub steps below:
    1. Choose the account type (Checking or Savings)
    2. Enter your bank account number and routing number
  9. After selecting your bank, you will be prompted to sign in to your bank's platform. This is done through Plaid, which is secure.
  10. After logging in to your bank, you will select the account you wish to link.

4. Transfer from your Bank to Robinhood

To transfer your newly added funds from your newly added bank account, you will simply follow most of the same steps as above, repeated here for your convenience.

  1. Open and login into the Robinhood App
  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"
  7. Choose the account you just added in the previous section
  8. Enter in the amount of money you wish to add
  9. Tap "Transfer" if the details are correct

This transfer can take up to 5 business days to reach the account; however, you can trade instantly. Be advised, while you can trade instantly, these funds will not be available to withdraw until they clear.

Transfer From Venmo To Robinhood: Final Thoughts

Transferring from Venmo to Robinhood does have a few extra steps as you cannot directly transfer your funds. Even though there is not an option to transfer directly, the process is still fairly straightforward. The downside is that you will need to wait for the funds to move from location to location.

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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