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Get the latest tips you need to manage your money — delivered to you biweekly. LoadingSomething is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy. Robinhood is one of the most popular trading platforms for young investors, but not all users are happy. If you want to switch from Robinhood to one of Insider's top-ranked investment apps, you can either directly transfer securities out of Robinhood into your new brokerage account, or you can sell your stocks and crypto and transfer the money into your bank account. It's easy to withdraw money from Robinhood on your iOS or Android mobile device — or by using the website. If you can, it's best to withdraw your cash into the same bank account you used to fund your account. Otherwise, Robinhood may ask you for extra documents to prove that you own the bank accounts in question. Rules for withdrawing funds from RobinhoodRobinhood users should look out for a few rules that limit how and when they can withdraw their cash from their accounts.
How to withdraw money from Robinhood on iOS
How to withdraw money from Robinhood on Android
How to withdraw money from Robinhood on the web
The financial takeawayYou can easily transfer money out of Robinhood into your bank account. But there are a few catches. Most importantly, you can't take money out until five business days after you've transferred that money into Robinhood. You'll also need to wait three business days after selling stocks, ETFs, or options before you can withdraw the proceeds. On the iOS or Android app, get started by tapping the "Account" button in the bottom right of the screen, which looks like a cartoon person. From your browser window, get started by clicking "Account" in the top right, and then click "Transfers." Elena Botella Elena Botella is a reporter who covers business and finance. Her work has appeared in Slate, U.S. News and World Report, American Banker, Forbes.com, and other outlets. Previously, Elena was an analyst at Capital One. Why can't I transfer my buying power to my bank Robinhood?In most cases, the issue comes down to the settlement period. Following each sale, the money in your Robinhood account needs to “settle” before it can be transferred. This period includes the trade date plus two additional days; on or after the third, you'll be able to withdraw it.
Why can't I withdraw my buying power from Robinhood?You may not be able to withdraw money while your account is restricted. Robinhood sometimes restricts users' accounts. That can happen if the user has a negative balance, had a bank account transaction reversed, if the user is suspected of fraud, or for a few other reasons.
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