FAQs
Is there a fee for transferring funds out of Robinhood into another bank account or brokerage account? Yes, there is a fee for transferring funds out of Robinhood into another bank account or brokerage account. This fee is $75 per transfer, and it is deducted from the total amount of the transfer.
Does transferring money have a fee? ›
On average, wire transfer fees can range anywhere from $0 to $50 depending on where your money is going. The recipient may also be required to pay fees to receive their funds, as well as potential exchange fees if you're wiring the money to a location abroad.
Is there a fee for Robinhood transfers? ›
Transfers to External Debit Card Up to 1.75% (min. fee of $2) Fee charged for transfers to external (non-Robinhood) debit card. Instant Bank Transfers (Withdrawals) Up to 1.75% (min. fee of $2) Fee charged for instant transfers to external bank account.
Does Robinhood have hidden fees? ›
We don't charge you fees to open or maintain your account. However, the following regulatory organizations charge Robinhood fees for trading that we do pass on to you to cover our costs: The Financial Industry Regulatory Authority (FINRA) charges a regulatory transaction fee and trading activity fee for sell orders.
Is there a fee for options trading on Robinhood? ›
There's no commission fee to buy or sell options, nor is there a monthly fee. A driving commitment to offer you the best experience at low cost, coupled with the ability to create state-of-the-art technology pushed us to develop commission-free options trading.
Do you get charged for transferring money? ›
As well as interest, money transfer fees may apply. This is usually a small percentage of the transferred amount.
How much does a transfer fee cost? ›
Key takeaways
Balance transfer fees are typically 3 percent or 5 percent of the total balance you transfer to your new card.
What is the $100 fee on Robinhood? ›
After you complete a full ACATS transfer, we'll put your account on hold. We charge a $100 fee for a partial or full ACATS out of Robinhood. Currently, fractional security shares with RHF and crypto held with RHC aren't transferable to other brokerages.
Is there a fee for instant transfer on Robinhood? ›
There's no fee for bank transfers. However, instant withdrawals to a debit card or bank account can incur up to a 1.75% fee.
How do I avoid Robinhood fees? ›
Are there fees?
- Maintenance fees: We don't charge fees to open, close, or maintain an individual investing account.
- In-network ATM fees: As long as you use 1 of the 90,000+ ATMs in the Allpoint or MoneyPass networks, you won't pay any fees. ...
- Inactive account fees: We don't charge fees for account inactivity.
No mutual funds or bonds: The lack of mutual funds and bonds may make it difficult to build a truly diversified portfolio. Customers can only access bonds via bond ETFs. Limited customer support: Robinhood has made noticeable improvements to its customer service, but it's still not on par with other brokerages.
How does Robinhood make money if it's free? ›
Robinhood Securities earns fees from banks that participate in its brokerage sweep program when it sweeps uninvested cash in individual investing accounts to those banks.
Why is Fidelity better than Robinhood? ›
Fidelity's fee structure is somewhat different, as this platform offers significantly more products and services than Robinhood. Fidelity doesn't charge trading fees or commissions on stocks and ETFs. However, unlike Robinhood, it does charge $0.65 per contract to trade most options.
Does Robinhood charge a transfer fee? ›
Standard bank transfer: No fee for withdrawals. External debit card account: Withdrawals have up to a 1.75% fee based on the amount being transferred out. You'll see the calculated fee when you initiate the withdrawal, so you'll know the amount up front.
Does Robinhood charge fees when you sell? ›
$0.000166 per share (equity sells) and $0.00279 per contract (options sells). This fee is rounded up to the nearest penny and no greater than $8.30. statement or confirm is generated. Out-of-network ATM Providers may charge a fee, which Robinhood Financial will not reimburse.
How much does Robinhood charge for ATM withdrawal? ›
Robinhood debit card: At a glance
| Robinhood debit card¹ |
|---|
| Foreign transaction fees | None Mastercard may charge a currency conversion fee |
| Monthly fee | 0 USD |
| Minimum deposit | 0 USD |
| ATM Fees | In-network ATM fees: 0 USD Out of network ATM providers may charge a fee |
1 more rowNEFT/RTGS/IMPS Charges, Timings, Limits
| Transaction Charges | NEFT Charges (At Branch) |
|---|
| Amounts above ₹ 10,000 and upto ₹ 25,000 | ₹ 4.75 + Applicable GST |
| Amounts above ₹ 25,000 and upto ₹ 1 lakh | ₹ 4.75 + Applicable GST |
| Amounts above ₹ 1 lakh and upto ₹ 2 lakh | ₹ 14.75 + Applicable GST |
4 more rowsZelle. Best for: People with compatible bank accounts who don't want to download another app or pay fees. Zelle is a great option to quickly pay back your friends and family. It's free to use, your money moves within minutes and you may not even need to download another mobile app.
How much does bank charge for transfer? ›
Intra-Scheme Money Transfer
Sending to account holder Minimum of N50 subject to 1% of transaction value or N300, whichever is lower. Sending to non-account holder Minimum of N50 subject to 1.5% of transaction value or N500, whichever is lower.
How can I avoid transfer fees? ›
Check if your bank or provider offers fee discounts
Some US banks and transfer providers do offer fee discounts — or could even waive wire fees entirely — for some customers. Ask your bank if there's an option to cut your costs, or have a look at your specific account terms and conditions to understand your options.
