To close your Robinhood account, you'll first need to sell all your positions and withdraw the balance to your bank account. Once your account balance is $0.00, you can submit a closure request through the Robinhood app or contact their support team for assistance.
Requesting to delete data won't delete or deactivate your account. If you deactivate your account, Robinhood must retain certain data to comply with applicable laws and regulations. Review Close my account for details.
If you deactivate your account: You can reactivate whenever you want. People can't see your timeline or search for you. Some information may remain visible to others (example: messages you sent).
Chances are you can't withdraw money from Robinhood because your funds are "unsettled." No, we don't mean your money is moody; "unsettled" means it didn't clear Robinhood's books. For instance, if you just sold a stock, you must wait for Robinhood to process and confirm the transaction before it finalizes.
If your spending account has any remaining balance available when it's closed, we'll do one of the following with it: Automatically transfer it to your individual investing account. If you don't have an individual investing account, we'll transfer it to the bank account linked to your spending account.
Q: What happens when you sell stock on Robinhood? A: After you sell stock, Robinhood sends your orders to market makers that execute your trades. After that, something known as “clearance and settlement” occurs. It takes 2 days for the clearinghouse to transfer your stock to you.
If you still have open positions or there's a balance on your account, you'll see that information under "Deactivate your brokerage account." It can take a few days for sales and transfers to complete—if the "Deactivate account" button is grayed out, there's still more to do.
Yes - with some caveats. Your funds and securities with Robinhood are insured against losses resulting from Robinhood's own insolvency or failure. Additionally, your uninvested cash may be protected through the Federal Deposit Insurance Corporation (FDIC) via Robinhood's cash sweep program.
How do I cancel Robinhood and get money back? Contact Robinhood (𝟭)-𝟴𝟰𝟰-𝟰𝟯𝟵^𝟲𝟳𝟰𝟭 𝗼𝗿 +𝟭(𝟴𝟰𝟰)𝟰𝟯𝟵.𝟲(𝟳𝟰𝟭) Support: Reach out to Robinhood (𝟭)-𝟴𝟰𝟰-𝟰𝟯𝟵^𝟲𝟳𝟰𝟭 𝗼𝗿 +𝟭(𝟴𝟰𝟰)𝟰𝟯𝟵.𝟲(𝟳𝟰𝟭) customer support via the app, website, or email. Explain the situation clearly and request a refund.
$0.000166 per share (equity sells) and $0.00279 per contract (options sells). This fee is rounded to the nearest penny and no greater than $8.30.
You can close your Robinhood joint and individual investing accounts in the app or on web classic. Alternatively, you can transfer your individual, joint investing or IRA account to an outside brokerage company. After you close or transfer your account, you can continue to view your account records.
Unless you have more than $500,000 with Robinhood, even if the investment app went belly-up, the SIPC would step in and make you whole, ensuring that you didn't lose your securities. The SIPC is also intended to work quickly so that your securities wouldn't be marred in long legal battles or a drawn-out bankruptcy.
You can only withdraw funds that are settled, which Robinhood refers to as “withdrawable cash.” Your withdrawal amount must be between $0.01 and $100,000 per transaction. You can only make up to 5 withdrawals per day.
Your money might be unavailable for a few reasons, including: A pending transfer was reversed because of an issue with your bank account. The money from that transfer won't be available in your spending or investing account. One of your pending transfers failed due to a one-time system error.
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.
Think of it as 'hiding' the account from view. All of the transactions are still in the file. Deleting the account removes the account and all transaction details from the file. This will free up storage space, but you lose data.
To protect your privacy, remove your private data from services you no longer use. You can do this by deleting outdated accounts rather than leaving them dormant. Although it seems a painful process, it's not when you have the right tools to help you.
Productivity: Social media platforms can be time-consuming. If you find yourself spending too much time scrolling through your feed or constantly checking notifications, deactivating your account could help you reclaim time for more productive activities.