How to Withdraw Money from Robinhood

Withdrawing money from Robinhood is straightforward, whether you're using a mobile device or desktop. The platform allows you to easily transfer funds from your brokerage account to your bank or debit card. But as with any financial transaction, it's essential to know the ins and outs, including timelines, fees and potential issues. This guide will walk you through the steps to withdraw your cash smoothly, whether on your phone or desktop.

How Do Withdrawals Work with Robinhood?

Robinhood offers two primary methods of withdrawing funds: debit card and bank transfer. Bank transfers are fee-free, but instant withdrawals to a debit card or bank account incur a 1.75% fee.

You can withdraw funds directly through the Robinhood app on your phone or via the desktop platform and both methods follow a similar process. Accessing your hard-earned cash is simple, whether on the go or at your desk.

How to Withdraw from Robinhood on Your Phone

Withdrawing money through the Robinhood app is quick and easy. Follow these steps:

1. Open the Robinhood app and log into your account.
2. Tap on the Account (person icon) in the bottom right corner.
3. Select Transfers from the menu.
4. Tap Transfer Money.
5. Choose the Robinhood account you wish to withdraw from.
6. Select your linked bank account or debit card. If your account qualifies, an "Instant transfers eligible" label will appear next.
7. Enter the amount you want to transfer.
8. Review the withdrawal details, including any fees for instant withdrawals.
9. Tap Transfer to complete the withdrawal.

How to Withdraw from Robinhood on Desktop

If you prefer to withdraw funds from Robinhood on a computer, follow these steps:

1. Log into your Robinhood account on a web browser.
2. Click on your Account icon in the top right corner.
3. From the drop-down menu, select Transfers.
4. Click Transfer Money.
5. Choose the account you'd like to withdraw from and select your linked bank account or debit card.
6. Enter the amount you want to withdraw.
7. Review the transfer details to ensure everything is correct, including any fees for instant transfers.
8. Click Submit to finalize the transaction.

How Long Do Robinhood Withdrawals Take?

Standard bank transfers typically take 3-5 business days for the funds to appear in your account. If you opt for an instant withdrawal to a debit card, the funds should arrive within minutes, though you’ll be charged a 1.75% fee for the convenience.

What Happens if You Can’t Withdraw Money From Robinhood After Selling?

If you’ve just sold stocks or options, you might notice that your cash isn’t immediately available for withdrawal. This is because Robinhood requires the transaction to go through a settlement period, which typically takes two business days (T+2). The sale must clear during this time before the proceeds become withdrawable cash.

If you still can’t withdraw your money after the settlement period, there could be other issues, such as pending deposits, cash held for pending orders or account restrictions. To resolve the issue, check your account activity or contact Robinhood's support team for help.

How to Close Your Robinhood Account

The process is simple if you’ve decided to close your Robinhood account. Here’s how to do it:

1. Open the Robinhood app or log in on the desktop.
2. Go to Account (person icon) in the app or click Account on the desktop.
3. Select Settings from the menu.
4. Scroll down to the Account Information section and select Close Account.
5. Follow the prompts to finalize the closure.

Alternatives to Robinhood

Are you looking for a platform that better suits your needs? If Robinhood doesn’t fit the bill, here are some excellent alternatives to consider. 

Best for Social Investing: Public.com

If you want to learn from the crowd and invest like your peers, Public.com over Robinhood is the go-to platform for social investing. Its unique community-based features allow you to follow other investors, see their portfolios and discuss their trades. This transparency makes it especially appealing for beginners who want to see what seasoned investors are doing in real time.

Why We Picked It: Public.com takes the mystery out of investing by offering a transparent look into how others build their portfolios. It’s an ideal platform for those who prefer learning through social engagement and who value the opportunity to follow and emulate successful investors.

Best for Active Traders: Webull

Webull is a powerhouse for more experienced traders looking for advanced tools. Webull vs Robinhood provides commission-free trading and sophisticated tools like advanced charting, technical indicators and real-time market data. It’s designed for active traders who need comprehensive tools to make quick, informed decisions.

Why We Picked It: Webull’s impressive lineup of trading tools makes it perfect for day traders and those who thrive on detailed technical analysis. With features catering to beginner and experienced traders, Webull is a well-rounded platform supporting multiple trading strategies.

Best for International Trading: Interactive Brokers

Interactive Brokers is hard to beat if global market access is a priority. It offers low fees and a vast selection of international markets, allowing users to easily trade across borders. This platform is ideal for investors looking to diversify their portfolios beyond U.S. stocks and ETFs.

Why We Picked It: Interactive Brokers stands out for its low costs and access to over 135 global markets. Whether you want to trade stocks, bonds or futures worldwide, this platform offers the tools and market access that international traders need to succeed.

Best for Comprehensive Tools: moomoo

For investors who want deep insight into market trends and performance, moomoo offers a wealth of real-time data, including in-depth stock analysis and zero-commission trades. It’s a robust platform that caters to investors who want access to information typically reserved for professional traders.

Why We Picked It: Moomoo combines zero-commission trading with a powerful suite of tools, including real-time data, advanced charting and AI-driven market insights. This makes it a great option for serious investors who need comprehensive information to make informed decisions.

Best for Low-Cost Trading: TradeStation

TradeStation offers a low-cost professional-grade trading experience, making it a strong choice for frequent traders. It features customizable trading platforms, access to a wide range of markets and some of the most competitive commission rates in the industry.

Why We Picked It: TradeStation’s low fees and powerful trading tools make it an excellent choice for frequent traders looking for a high-performance platform. With flexible pricing models and robust features, TradeStation caters to those who need a serious platform without breaking the bank.

Your Path to Smooth Withdrawals

Withdrawing money from Robinhood is hassle-free, whether you're using the mobile app or desktop platform. The steps are straightforward and while instant transfers come with a small fee, bank transfers remain free. Before hitting that transfer button, just be mindful of settlement periods and withdrawal limits.

Frequently Asked Questions