The investment service Robinhood has become more and more popular in recent years. So, many traders search for instructions on how to use it.
First, let us explain what Robinhood is. It is a source that offers an extensive selection of investment and financial services, including trading cryptocurrencies, stocks, options, equities, ETFs. One of the priorities of this company is the comfort and convenience of users. So, they offer easy access to their services via both web and mobile platforms, absence of commissions for trades, user-friendly interfaces. The withdrawing procedure is also fully intuitive.
How to Withdraw Money from Robinhood?
- Go to the website and log in if needed.
- Open the menu and find “Withdrawal funds”.
- Choose a sum, a suitable method, and a bank account, to which you want to receive money (note that they do not provide transfers to debit and credit cards or online wallets).
- Confirm the procedure.
If you prefer using a mobile app, the guidelines will be quite similar. To order a transfer, open “Account” ― “Transfers” ― “Transfer to Your Bank”.
Speaking about the terms, processing such requests takes 1 business day. One must be ready that additional verification may also be required.
And as for commissions, ACH withdrawals are provided for free, for wire transactions, users are charged $25, and international transfers are the most expensive ― $50.
Also Read: How to Trade Forex for Beginners: 10 Tips to Bear in Mind
By the way, for the sake of convenience, they also offer an option of withdrawal cancellation. It is available in the tab “History”.
In conclusion, Robinhood is a platform, which is designed for hassle-free investment. So, you will probably face no difficulties while earning from it or receiving your income. Still, in case of any problems, you can refer to detailed guidelines on their website or just contact the support team.