FAQs
Transfer fees: We don't charge a fee for transferring money between a bank and your individual investing. Card replacement fees: If your card is lost, stolen, or damaged, Robinhood will mail you a new card free of charge.
What is the $100 transfer fee on Robinhood? ›
After you complete a full ACATS transfer, we'll put your account on hold. We charge a $100 fee for a partial or full ACATS out of Robinhood. Currently, fractional security shares with RHF and crypto held with RHC aren't transferable to other brokerages.
Is there a fee to transfer money out of Robinhood? ›
Standard bank transfer: No fee for withdrawals. External debit card account: Withdrawals have up to a 1.75% fee based on the amount being transferred out. You'll see the calculated fee when you initiate the withdrawal, so you'll know the amount up front.
Why is Robinhood charging me? ›
We don't charge you fees to open or maintain your account. However, the following regulatory organizations charge Robinhood fees for trading that we do pass on to you to cover our costs: The Financial Industry Regulatory Authority (FINRA) charges a regulatory transaction fee and trading activity fee for sell orders.
Does Robinhood waive transfer fees? ›
Eligible assets from your outside IRAs can be transferred into Robinhood. We'll reimburse the IRA closing or transfer fee that the other brokerage might charge, up to $75 for transfers of $7,500 or more in equity, options, and cash assets, provided we receive proof of the charge.
How much does Robinhood charge to transfer money to bank account? ›
There's no fee for bank transfers.
What is a transfer fee in investing? ›
A transfer fee is a charge applied by banks or financial service providers when funds are shifted from one account or place to another. This fee primarily addresses the administrative, technical, and sometimes, security aspects of the transaction.
Is it safe to transfer money to Robinhood? ›
Robinhood is considered safe for investors. It's a member for the Securities Investor Protection Corp. (SIPC), is regulated by the SEC, and has additional financial protection per customer up to certain amounts for cash and securities.
Why is Fidelity better than Robinhood? ›
It depends on your preferences as an investor. Fidelity is geared more toward long-term investors, offering robo-advisor services and access to mutual funds, bonds, and CDs. Robinhood is more popular with active traders, including those who want to trade a wide variety of cryptocurrencies.
What is the instant transfer limit on Robinhood? ›
Our Instant Deposit feature gives you immediate access to $1,000 after you initiate a deposit. With Robinhood Gold, you can get even bigger Instant Deposits—up to $50,000 depending on your individual investing account balance and status.
Robinhood Gold is an account offering premium services available for a $5 monthly fee. Not all investors will be eligible to trade on margin. Margin investing involves the risk of greater investment losses.
Can Robinhood keep my money? ›
Your securities and cash are protected by SIPC
Robinhood Financial LLC and Robinhood Securities, LLC are both members of SIPC, which protects securities for customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.
How do I get my money out of Robinhood? ›
To transfer funds to your bank from your individual investing account:
- Go into your Cash tab.
- Tap Transfer.
- Tap Transfer to Your Bank.
- Select the external bank account you want to move funds to.
- Input the amount you want to transfer to your bank.
Fortunately, transaction fees are easily avoided by selecting a broker that offers a list of no-transaction-fee mutual funds — most do. Many funds on this list will be from the broker itself, but other mutual fund companies often pay brokers to offer their funds to customers without a transaction cost.
How much does it cost to transfer stocks from one broker to another? ›
Many brokers charge a fee when you transfer brokerage account assets. The typical fee ranges from about $50 to $100, but not every broker has an account transfer fee. The only way to know how much your old broker charges is to check its list of fees or contact customer service.
How does Robinhood make money if they don't charge fees? ›
Robinhood Securities earns fees from banks that participate in its brokerage sweep program when it sweeps uninvested cash in individual investing accounts to those banks.
When did Robinhood start charging fees? ›
Robinhood will begin passing on regulatory fees to customers for options trading starting Sept. 21, according to a notice sent to customers Thursday.
How much can I instant transfer to Robinhood? ›
You may get up to $1,000 instantly after you initiate a bank deposit into your Robinhood investing or IRA account. Although you may have access to these funds right away, the transfer from your bank into your Robinhood account may take up to 5 business days.
How much does Robinhood charge to transfer crypto? ›
We don't charge any extra fees to send or receive crypto.
