Deposit money into your Robinhood account
To transfer money into your Robinhood account from an external UK bank account in the app or on the web:
- Select Account (person icon)→ in the app, Menu (3 bars)
- Select Transfer → Deposit Money
- Enter the amount to deposit in British Pound Sterling (GBP)
- Review and confirm the amount, any applicable fees, and the bank
Note
We currently require deposits in GBP.
You can see your transfer history, pending transfers, and their estimated landing date in Account → in the app, Menu (3 bars) → History.
Keep in mind
- You can’t cancel an initiated or pending deposit.
- We currently don’t support wire transfers.
- We don’t accept mailed cheque deposits.
The following are your deposit limits:
- A maximum of 1 pending deposit at a time
- A maximum of 5 deposit attempts each day
- £100,000 deposit for a transaction
- £0.01 minimum transfer amount for each transaction
You’ll typically get access to your deposits immediately for use in your Robinhood account. Keep in mind, transfers can take up to 2 business days to process and be available to withdraw.
You can submit deposits any time. As soon as you initiate a deposit, the money is transferred immediately from your bank account. The deposit will then show as pending until processed. All deposits made during business days are processed immediately. The transfer window for business days starts at 10 PM GMT (5 PM ET) on Sunday through Friday at 9:45 PM GMT (4:45 PM ET).
Because of foreign exchange (FX) hours, any weekend deposits made outside the transfer window are processed as follows:
- Received by Robinhood as GBP until they are converted to USD on Sunday at 10 PM GMT by using the last available FX rate received before 9:45 PM GMT on Friday.
- Show as pending until processed inside the transfer window.
- Are protected by Robinhood during and after being processed.
During your Robinhood account application process, you can queue a deposit. This queued deposit will only be submitted to your bank for processing when your application is approved.
This queued deposit will expire and automatically be canceled if not processed within 7 days.
Robinhood U.K. Ltd (Robinhood UK) is authorised and regulated by the Financial Conduct Authority (FRN: 823590). Robinhood UK onboards UK customers and has the lead customer relationship with UK customers in relation to their use of the Robinhood UK app and website. Robinhood UK introduces UK customers to Robinhood Securities, LLC for order routing, execution, clearing, settlement, arranging custody services and margin lending to eligible UK customers with margin accounts. Robinhood Securities, LLC is regulated in the US by the SEC and FINRA. Robinhood UK and Robinhood Securities, LLC are subsidiaries of Robinhood Markets, Inc.
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FAQs
Some of the most common reasons why you can't use your Instant Deposit are: Your transfer was flagged by a risk check. Your recent transfers were reversed. Your transfer was over your Instant Deposit limit.
Why won't Robinhood let me link my debit card? ›
Unfortunately, we can't accept debit cards that function as checking accounts. You'll know it's a valid checking account if it provides monthly statements addressed to you, the account holder. Make sure you have sufficient funds in your account to prevent a bank overdraft fee.
What is the minimum deposit for Robinhood? ›
Once you have decided to open an account at Robinhood and completed both the registration and verification process, you need to fund your account to be able to begin trading. At Robinhood, the minimum deposit is $0. This means that you can deposit as little money as you wish.
Why is Robinhood not letting me transfer my money? ›
Your money might be unavailable for a few reasons, including: One of your pending transfers 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.
Does Robinhood give you $1000 dollars? ›
Standard bank transfers
Standard bank account transfers can take up to 5 business days after you initiate a transfer from your bank account into your Robinhood account. However, for your investing account, you can get up to $1,000 immediately after you initiate the transfer.
What banks does Robinhood accept? ›
Which banks are in our network?
- Goldman Sachs Bank USA.
- HSBC Bank USA, N.A.*
- Wells Fargo Bank, N.A.
- Citibank, N.A.
- Bank of Baroda.
- U.S. Bank, N.A.
- Bank of India.
- Truist Bank.
Deposits. The deposit option with an Instant bank transfer lets you deposit money from your bank to your Robinhood account in minutes instead of days with no Robinhood fees. Deposits with Instant bank transfer are only supported for select banks at this time.
Is it safe to deposit money to Robinhood? ›
Your securities and cash are protected by SIPC
Robinhood Financial LLC and Robinhood Securities, LLC are both members of SIPC, which protects securities for customers of its members up to $500,000 (including $250,000 for claims for cash) for each investing account, including IRAs.
Is it safe to link Robinhood to a bank account? ›
Yes, it's fairly safe to enter your bank account login info in the Robinhood app. Many people are alarmed that Robinhood asks for your bank login info when you attempt to link a bank account, and they wonder if it's safe to give Robinhood this information. The information, however, is not being requested by Robinhood.
How do you know if your Robinhood account is restricted? ›
To verify in the app whether you're restricted from day trading or not on any given day, check your Day trade counter.
If you earned referral stock upon signing up or referring a new user, you will need to wait 30 days until these funds will be available for withdrawal. Remember, Robinhood withdrawal limits are $5,000 for debit cards and $50,000 for bank transfers each day.
How do I deposit money into Robinhood? ›
To transfer money into your Robinhood account from an external account in the app or on the web:
- Select Account (person icon)→ Menu (3 bars)
- Select Transfers → Transfer Money.
- Enter the amount, and then select which account you want to transfer money From and To.
- Review and confirm the transfer, and then select Transfer.
Robinhood is also regulated by the U.S. Securities and Exchange Commission (SEC) because it's a registered broker-dealer. Finally, Robinhood offers added financial protection per customer account of up to $1.9 million for cash and $50 million for securities.
How much does Robinhood charge to deposit? ›
Add money Direct deposit $0 No fee for direct deposit. Cash reload $0 We do not charge a fee. Third party fees may apply.
Why is Robinhood not letting me cash out? ›
Why can't I withdraw money from Robinhood? You probably can't withdraw money from Robinhood because your funds are unsettled. You can only withdraw “settled funds”, money that hasn't been transacted with in the last 2 business days. This is known as Robinhood Withdrawable Cash.
Why won't my Robinhood load? ›
Ensure you have the latest version of the Robinhood app. Download for Android or Download for iOS. Force close and reopen the app. Log out of your account and then log back in.
Why is my Robinhood account restricted? ›
Your Robinhood investing account might be restricted for a number of reasons, including the following: Company control person. Bank transfer reversals. Incorrect or outdated account information.
Why won't Robinhood let me enable options? ›
If your financial status isn't strong enough, you may be assessed as too high of a risk for making losses. That means the app will wait until you have made several trades before approving you for option trading.
