Michelle Legge
By Michelle LeggeHead of Crypto Tax Education
Updated Jan 26, 2024
This article has been fact checked and reviewed as per our editorial policy.

How To Withdraw Money From Robinhood

Robinhood has been a game-changer in the world of investing, making it super easy for the average Joe to get into stocks and cryptocurrencies. But what if you want to cash out and enjoy your hard-earned gains? Well, we've got your back! In this guide, we'll walk you through how to withdraw money from Robinhood to your bank account in a few simple steps.

Robinhood withdrawal rules and limits

Before we dive in, there are a few things you need to know about withdrawals on Robinhood:

  • Deposit wait time: When you put money into Robinhood, it might take up to 5 business days before you can take it out. Instant Deposits may allow you to trade right away, but you can't move that cash instantly.

  • Trade settlement: If you're trading in the US, it takes 3 days to settle. Robinhood Gold or Instant users may have instant settlement for quick withdrawals after selling stocks, ETFs, or options.

  • Withdrawal limit: You can make up to 5 transfers per business day.

  • Daily limit: You can withdraw up to $50,000 per business day. For more, you'll need to do lump sum withdrawals.

  • Free stock sales wait: After selling free referral stock, you've got to wait 30 days before getting the cash.

  • Changing bank accounts: Switching bank accounts might raise some eyebrows, so be careful when moving funds from one account to another.

  • Account restriction hold: If Robinhood has slapped any restrictions on your account, it could put a hold on your withdrawals.

How to transfer money from Robinhood to bank

Alright, let's get into the nitty-gritty of how to get your moolah out of Robinhood and into your bank account. We've got three ways to do it, so pick the one that suits the device you use:

How to withdraw money from Robinhood on iOS

  1. Open the Robinhood app on your iPhone

  2. Tap on the account icon in the bottom right corner

  3. Tap the three horizontal lines in the top-right corner

  4. Tap transfers

  5. Tap transfer money

  6. Enter how much cash you want to withdraw

  7. Under from, choose Robinhood

  8. Under to, choose your bank account

  9. Follow the on-screen prompts to confirm and finish the transaction

Keep in mind that withdrawals might take some time, so be patient.

How to withdraw money from Robinhood on Android

  1. Open the Robinhood app on your device

  2. Tap the account icon in the bottom right

  3. Tap the three lines in the upper right corner 

  4. Tap transfers

  5. Tap transfer from your bank

  6. Enter the amount you want to transfer and hit continue

  7. Under from, choose Robinhood

  8. Under too, choose your bank account

  9. Tap transfer to complete the transaction

Remember, it might take up to 5 days for the money to show up in your bank.

How to withdraw money from Robinhood on desktop

  1. Select account, and then transfers

  2. Select transfer from your bank

  3. Enter the amount you want to transfer

  4. Under from, choose Robinhood

  5. Under to, choose your bank account

  6. Select submit

Remember, it may take up to 5 working days for your funds to appear in your bank account.

Pro tips for a simple cash withdrawal from Robinhood

Now that you know how to cash out from Robinhood, here are some tips to make it a breeze:

  • Plan ahead: Think about your investment goals and strategy before you withdraw.

  • Adhere to waiting periods: Respect Robinhood's waiting periods to avoid surprises.

  • Consider account restrictions: Sort out any account issues before withdrawing.

  • Gather documentation: Have your documents ready, just in case.

  • Choose the right timing: Pick a stable market time for your withdrawals.

  • Communicate with support: If you need help, don't be shy to reach out to Robinhood's customer support.

What are withdrawal errors on Robinhood?

If you see an error crop up when you try and make a cash withdrawal from Robinhood, there are generally two reasons why - account restrictions or withdrawing to a different source. 

Robinhood account restriction

There are many reasons why your Robinhood account could face restrictions, but any account restriction may result in you being unable to withdraw funds from Robinhood. You should contact Robinhood ASAP to resolve any account restrictions. 

Withdrawing to a different source

If you’re withdrawing cash to a new bank account that you haven’t withdrawn to or deposited from before, you’ll need to first link it to Robinhood with a new deposit. 

Read next: Learn how to report your Robinhood crypto taxes

Robinhood withdrawal FAQs

How do I get my money out of Robinhood and into my bank account?
Why can’t I withdraw my money from Robinhood?
How long does it take to move money from Robinhood to a bank?
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