Robinhood is one of the largest financial platforms around today. It’s accessible through the internet but also has Android and iOS apps, giving people a lot of choices on how to use the platform. Thanks to the convenience and the recent popularity of Robinhood in the media, we’re starting to see more and more people develop an interest in trading stocks and cryptocurrencies.
But if you’re just getting started with the platform, you are probably wondering how to withdraw money from Robinhood. Modern financial platforms confuse many people, but we’re here to simplify and make them easier to understand.
So here’s a complete guide on how you can easily withdraw money from Robinhood using either your Android smartphone, iOS device or your computer. Robinhood is one of the largest financial platforms around today. It’s accessible through the internet but also has Android and iOS apps, giving people a lot of choices on how to use the platform.
Thanks to the convenience and the recent popularity of Robinhood in the media, we’re starting to see more and more people develop an interest in trading stocks and cryptocurrencies. But if you’re just getting started with the platform, you are probably wondering how to withdraw money robinhood.
Modern financial platforms confuse many people, but we’re here to simplify and make them easier to understand. So here’s a complete guide on how you can easily robinhood withdrawal using either your Android smartphone, iOS device or your computer.
Can You Get Money Out of Robinhood?
Anyone with a Robinhood account can withdraw money. However, there are a couple of limitations you need to be aware of before cashing out.
First, you can only make five withdrawals in your account every business day.
This might seem a lot if you’re only planning to cash out once, but it can become a problem if you make many investment choices throughout the day.
The other limitation is that you can only withdraw up to $50,000 per business day. So if you’ve been growing your account for several months, do keep in mind that you can only withdraw a certain amount each day, so plan around that if you have a lot of money to cash out.
How to Withdraw Your Money From Robinhood?
The withdrawal process is relatively simple, but it is slightly different depending on whether you’re a mobile user or a desktop user.
Withdrawing Money From Robinhood on Your Phone
If you’re using your smartphone, then the process is very simple. All you need is your phone, the Robinhood app, and access to your account.
- Open the Robinhood app and access your account via the icon at the bottom-right corner of the screen.
- Find the “Transfers” menu, then select “Transfer to Your Bank.”
- Find your bank account in the list and choose it.
- Enter the amount that you want to withdraw.
- Check that all of your details are correct, then tap “Confirm.”
And there you have it - a simple way to withdraw money into your bank account from Robinhood.
Withdrawing Money From Robinhood on Your Computer
If you’re accustomed to using computers, the transaction process will be just as simple as on mobile devices, if a little different.
- Navigate to the Robinhood website and log in to your account.
- Once logged in, search for the “Robinhood Account” option in the top-right corner of the website.
- Click the “Banking” option. Locate the withdrawals section and enter the amount that you want to withdraw.
- Confirm the transaction and wait for the money to appear in your bank account.
While the menus are similar, it’s normal to be a little confused if you switch from one platform to another.