This guide will show exactly how to withdraw your money on Robinhood.
Robinhood allows you to trade in stocks, cryptocurrencies, options, etc. The catch here is trading with no fees – Robinhood charges you nothing for trading on the platform.
To withdraw what you have on Robinhood you must, first of all, sell it off be it stock or crypto.
Let’s say for example you bought Dogecoin for $1,000 and sold it at $100 profit leaving you with $1,100 and you wish to withdraw. Well, your money won’t be immediately available for withdrawal you’ll have to give Robinhood about 7 working days to “Settle your transaction”.
After this period your money will then become withdrawable. For so many who wants instant withdrawal that’s not possible on Robinhood.
That leads us to how to withdraw to our bank accounts.
How to Withdraw on Robinhood to Bank Account
- Open your Robinhood app and tap on the person icon in the bottom-right corner.
- Tap on “Transfer”
- There you’ll see 3 options tap on “Transfer to your Bank“
- Type in the amount you want to withdraw. You can tap on the little question mark to see the “Withdrawable cash” amount.
- After inputting the amount click on “Submit“
If you’ve not yet linked your account to Robinhood click here to see how it’s done.
