The basic process: withdraw to your linked bank account

To move money from Robinhood to your bank account, you log into the app or website, go to your Account menu, select Transfer Funds, choose Withdraw, enter the amount, and confirm. The money goes to whichever bank account you linked when you opened your Robinhood account. Robinhood does not charge a fee for this transfer.

The transfer itself takes one to three business days once you submit it. That timeline depends on your bank, not on Robinhood. Some banks post transfers faster than others, and weekend or holiday timing can add a day. You will see the withdrawal leave your Robinhood account immediately, but it may not show up in your bank account until the next business day or later.

You can only withdraw to a bank account that you have already linked to your Robinhood account. If you want to send money to a different bank, you will need to add that account first, which takes a few minutes and requires your routing number and account number.

Key Takeaways

  • Robinhood withdrawals go only to a bank account you have already linked, and the transfer takes one to three business days.
  • You cannot withdraw directly to a third-party payment app like PayPal or Venmo; you must go through a bank account first.
  • Robinhood charges no fee for withdrawals, but your bank may charge a fee if you withdraw below a minimum balance.
  • If your withdrawal is rejected, the most common reason is that your linked bank account information is outdated or does not match your Robinhood profile.

How to link a new bank account if you need to change where the money goes

Open Robinhood and go to Account > Transfer Funds > Linked Banks. Click Add a Bank Account. You will need your bank's routing number and your account number. Robinhood will verify the account by depositing two small amounts (usually under $1 each) into that account, which takes one to two business days. Once those deposits clear, you confirm the amounts in Robinhood, and the account is linked.

After the account is linked, you can withdraw to it immediately. You can link multiple bank accounts, but each withdrawal goes to only one account at a time. If you want to split a withdrawal between two accounts, you have to make two separate transfers.

If you are linking a bank account for the first time and Robinhood is asking for verification deposits, you will not be able to withdraw until those deposits clear and you confirm them. This process usually takes two to three business days total.

What happens if your withdrawal is rejected or delayed

The most common reason a withdrawal fails is that your linked bank account information does not match what your bank has on file. This includes your name, address, or account number. Check that your Robinhood profile name and address match exactly what your bank shows. If they do not, update your Robinhood profile first, then try the withdrawal again.

A second common reason is that your bank account is closed or flagged for fraud. Contact your bank directly to confirm the account is active and in good standing. If your bank has flagged the account, you will need to resolve that with them before Robinhood can send money to it.

If the withdrawal leaves Robinhood but does not arrive at your bank after three business days, contact Robinhood support with your withdrawal confirmation number. Robinhood can trace the transfer and work with your bank to locate it. In rare cases, the money may be returned to your Robinhood account, and you will need to try again with updated account information.

Withdrawals from a Robinhood account with unsettled trades or margin

If you have recently sold stocks or options, the proceeds may be in a settling state for one to two business days. You cannot withdraw unsettled cash. Wait for the settlement period to end, then try the withdrawal again. Robinhood shows your settled and unsettled cash separately in your Account menu, so you can see exactly how much is available to withdraw right now.

If you have a Robinhood Gold account (which offers margin), your withdrawal limit depends on your account balance and how much margin you are using. If you have borrowed money through margin, Robinhood may not let you withdraw the full amount in your account. Reduce your margin debt first by depositing more cash or selling positions, then try the withdrawal again.

Transferring money to payment apps or digital wallets instead

Robinhood does not send money directly to PayPal, Venmo, Cash App, or other payment apps. Your only option is to withdraw to your bank account first, then transfer from your bank to the payment app. This adds an extra step and an extra one to three business days.

If you need the money in a payment app quickly, withdraw from Robinhood to your bank account, then immediately transfer from your bank to the payment app. Some banks offer instant transfers to payment apps, which can cut the total time to a few hours. Check your bank's app to see whether it offers instant transfers and to which services.

Tax documents and record-keeping for withdrawals

Withdrawing cash from Robinhood is not a taxable event by itself. You only owe taxes on gains when you sell an investment, not when you move the money out of the account. However, you should keep records of all your withdrawals for your own bookkeeping and in case you need to prove the source of the funds to your bank or for a loan application.

Robinhood sends you a 1099 form at the end of the year if you had any taxable events (sales, dividends, or interest). The withdrawal itself does not appear on the 1099. If you need a record of a specific withdrawal for your records, you can download your transaction history from Robinhood's Account menu.

Frequently Asked Questions

Can I withdraw money if I have pending buy orders?

Yes. Pending orders do not lock up your cash. You can withdraw any cash that is not already settled from a recent sale. If your pending buy order executes after you withdraw, Robinhood will use margin or reject the order if you do not have enough cash left.

What if I want to transfer money to someone else's bank account?

You cannot do this through Robinhood. Withdraw to your own bank account, then use your bank's transfer tools or a payment app to send money to another person. This adds one to three business days to the process.

Does Robinhood charge a fee to withdraw?

No. Robinhood does not charge a withdrawal fee. Your bank may charge a fee if you fall below a minimum balance after the withdrawal, but that is your bank's policy, not Robinhood's.

Why does my withdrawal say "pending" for more than three days?

Contact Robinhood support with your withdrawal confirmation number. Withdrawals should clear within three business days. If yours has not, there may be an issue with your bank account information or your bank may be holding the transfer for review.

Can I cancel a withdrawal after I submit it?

Yes, but only if it has not left Robinhood yet. Once the transfer is in progress, you cannot cancel it. Contact Robinhood support immediately if you need to stop a withdrawal, and provide your confirmation number.