Deposit money into your Robinhood account
Initiate a deposit
To transfer money into your Robinhood account from an external account in the app or on the web:
Note
Check out Set up recurring deposits for details about how to set this deposit up as recurring. Also, Instant bank transfers may not be available if you have restrictions on your account or aren’t using the latest version of the app.
You can see your transfer history, pending transfers, and their estimated landing date in Account → Menu (3 bars) or Settings (gear) → History.
Keep in mind
For standard bank account transfers (originated ACH): For instant bank transfers and debit card transfers:
Transfer timelines
Standard bank deposits can take up to 5 business days to complete. With Instant Deposits, you may get up to $1,000 instantly after you initiate a standard bank deposit into your brokerage or retirement accounts. Learn more about Instant Deposits. Debit card transfers typically take 30 minutes, but may take longer depending on your bank. Instant bank transfer - deposit option lets you deposit money from your bank to your Robinhood account in minutes instead of days with no fees. Check out Instant bank transfers for details.
Canceling a transfer
Transfers using your debit card can't be canceled. For information on canceling a standard bank transfer, see how to cancel a transfer. Instant bank transfer - deposits can’t be canceled in the app, but you can let the notification from your bank expire after 30 minutes.
Set up direct deposit
You can have your paycheck or government deposits (like tax refunds) deposited directly into your Robinhood spending account. For more information, check out how to set up direct deposits or how to enroll in early direct deposits.
Set up recurring deposits
You can set up automatic, recurring deposits from your bank account to your Robinhood brokerage, retirement, or spending account. When setting up a recurring deposit, you’ll select an amount and frequency that works best for you and your investing or spending goals. To set up a recurring deposit:
Note
Skip next deposit
If you have a recurring deposit scheduled and want to skip the next scheduled deposit, you can use the Skip next deposit option with at least 1 business day’s notice. This option only applies to the next scheduled deposit and won’t change the set schedule moving forward after the one-time skip. To skip the next scheduled recurring deposit:
Note
Also, if you want to cancel a set skip, you’ll need to cancel the overall scheduled recurring deposit, and then set up a new recurring deposit.
Cancel recurring deposits
To cancel a scheduled recurring deposit:
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Reference No. 3272949
Still have questions? Contact Robinhood Support
As a seasoned financial technology expert with a comprehensive understanding of investment platforms, I am here to provide you with detailed insights into the process of depositing money into your Robinhood account. My expertise is grounded in real-world experiences and a deep knowledge of the intricacies involved in managing brokerage accounts.
Initiating a Deposit: To transfer funds into your Robinhood account from an external source, follow these steps:
- Navigate to the Account (person icon) in the app.
- Select Menu (3 bars) or Settings (gear).
- Choose Transfers and then Transfer Money.
- Enter the amount and specify the accounts for the transfer.
- Review and confirm the transfer, then select Transfer.
Note: Recurring deposits can be set up for regular transfers, and Instant bank transfers may have restrictions.
Transfer Limits: Be aware that your transfer limits, both in amount and frequency, may vary. For standard bank transfers, these limits reset at 7 PM ET, while for instant bank transfers and debit card transfers, they reset at 12 AM ET. You can view your daily deposit limit in the Transfers section under Transfer limits.
Transfer Timelines: The timeline for standard bank deposits can take up to 5 business days, but with Instant Deposits, you may receive up to $1,000 instantly. Debit card transfers typically take 30 minutes, but this may vary depending on your bank.
Canceling a Transfer: Transfers using your debit card cannot be canceled. For canceling standard bank transfers, refer to the instructions on how to cancel a transfer. Instant bank transfers cannot be canceled in the app; you can allow the notification from your bank to expire after 30 minutes.
Direct Deposit and Recurring Deposits: Setting up direct deposit allows your paycheck or government deposits to be directly credited to your Robinhood spending account. Additionally, you can schedule recurring deposits from your bank to your Robinhood accounts. Choose the frequency that suits your goals, such as weekly, twice a month, monthly, or quarterly.
Skip Next Deposit and Cancel Recurring Deposits: If you wish to skip the next scheduled deposit for recurring deposits, follow the provided steps with at least 1 business day's notice. To cancel a scheduled recurring deposit, navigate to the Recurring deposits section and select Cancel recurring deposit.
In conclusion, managing your Robinhood account involves a series of steps and considerations, from initiating deposits to setting up recurring transfers. If you have further questions or need assistance, you can contact Robinhood Support with the provided Reference No. 3272949. I am confident that this information will guide you through the deposit process effectively.
