Robinhood Transfer Fee | How Much is the Robinhood ACATS Transfer Fee?
If you want to transfer your assets in or out of Robinhood, you may encounter some fees that you should be aware of.
In this article, we will explain what these fees are and how they affect your transfers.
Robinhood Transfer Fees
The only fees that Robinhood will charge for transfers are for transfers in and out of your Robinhood account and to external debit cards.
These fees are not related to the trading commissions, which are zero for most securities on Robinhood. Let’s take a look at each type of transfer fee in more detail.
Robinhood’s Automated Customer Account Transfer Service (ACATS) Transfer Out Fee
If you want to transfer your assets from Robinhood to another brokerage, you will need to use the Automated Customer Account Transfer Service (ACATS).
This is a standard protocol that allows brokerages to communicate and transfer assets between each other.
However, Robinhood charges a $100 fee for a partial or full ACATS out of Robinhood.
This fee is deducted from your account balance at the time of the transfer. However, if you contact the broker you are switching to, they may cover the fee.
Robinhood’s Automated Customer Account Transfer Service (ACATS) Transfer In Fee
If you want to transfer your assets from another brokerage to Robinhood, you can also use the ACATS.
Robinhood supports ACATS transfers in and they will reimburse up to $75 for transfers in of $7,500 or more.
Your outside brokerage may charge you a transfer fee to transfer your assets out of their account, but Robinhood will cover up to $75 of it.
Withdrawing to a Bank Account From Robinhood
If you want to withdraw money from your Robinhood account to your bank account, there is no fee for doing so.
You can link your bank account to your Robinhood account and initiate a withdrawal request from the app or the website.
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It may take up to five working days for the withdrawal to be finalized.
Withdrawing to an External Debit Card Account
If you want to withdraw money from your Robinhood account to an external debit card account, such as Cash App or Venmo, there is a 1.5% fee based on the amount being transferred out.
The fee amount will be shown to you when you start the withdrawal, so you can be aware of it beforehand. The withdrawal process may take up to 30 minutes to complete.
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