How to transfer money and stocks from Robinhood to a bank account or another brokerage?

 Here’s a guide on how to transfer money and stocks from Robinhood to a bank account or another brokerage like Fidelity or Charles Schwab:



  1. Transferring Money from Robinhood to a Bank Account

Steps:

  1. Open the Robinhood App: Log in to your account.
  2. Go to the Account Menu: Tap the account icon in the bottom right corner.
  3. Select ‘Transfers’: Choose the ‘Transfer to Your Bank’ option.
  4. Enter the Amount: Specify the amount you want to transfer.
  5. Choose the Bank Account: If you have multiple linked accounts, select the one you want to transfer to.
  6. Confirm the Transfer: Review the details and confirm the transfer.

Note: It may take 3-5 business days for the funds to appear in your bank account.

  1. Understanding Robinhood Withdrawable Cash

Withdrawable cash is the amount of money you can transfer to your bank account. This includes settled funds from stock sales or dividends but does not include funds from recent deposits or unsettled transactions.

  1. Transferring Stocks from Robinhood to Fidelity

Steps:

  1. Open a Fidelity Account: Ensure you have a Fidelity account ready.
  2. Request a Transfer: Go to the Fidelity website or app and initiate a transfer request.
  3. Select Full or Partial Transfer: Decide whether you want to transfer all your assets or just specific stocks.
  4. Provide Robinhood Account Details: Enter your Robinhood account number and details.
  5. Submit the Request: Fidelity will contact Robinhood to complete the transfer. This process may take 5-7 business days.
  6. Transferring Stocks from Robinhood to Charles Schwab

Steps:

  1. Open a Charles Schwab Account: Ensure you have an account at Schwab.
  2. Initiate the Transfer: Start the transfer process from Schwab’s platform.
  3. Choose Between Full or Partial Transfer: Select what you want to transfer.
  4. Enter Robinhood Information: Provide your Robinhood account details.
  5. Confirm and Submit: The process will be similar to the Fidelity transfer, taking about a week to complete.
  6. Robinhood Wire Transfer

Robinhood does not support direct wire transfers for sending money out of the platform. All transfers must be done via the ACH (Automated Clearing House) network, which usually takes a few business days.

Conclusion

Transferring stocks from Robinhood to fidelity to a bank account or another brokerage like Fidelity or Charles Schwab involves a few steps, but is a straightforward process. Make sure to initiate the transfer from the receiving brokerage and have all your account details handy.

For more detailed guides or specific questions, it might be helpful to check Robinhood’s support resources or contact customer service.

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