How to Delete a Robinhood Account

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Are you ready to close your Robinhood account? Whether you're no longer excited about trading stocks and cryptocurrencies or just want to transfer your positions to another brokerage, closing your Robinhood account is incredibly easy. Before you close your account, you'll just need to sell or transfer your stocks and cryptocurrencies and withdraw any remaining funds to your bank account. This wikiHow article will walk you through the simple process of closing your Robinhood account.

Section 1 of 3:

Things You Should Know

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  1. If you hold any stocks or cryptocurrencies, you'll need to sell them before closing your account. If you don't want to sell your positions but no longer want to use Robinhood, you can transfer your positions to another brokerage, or your crypto to another blockchain. [1]
  2. If you have any funds in your account after closing your positions, you'll need to withdraw them to your bank account before closing. [2]
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  3. Should you need to download your tax statements and trade confirmations, you'll be able to do so at any time.
  4. If you choose to transfer your stocks to another brokerage, there's a fee. But otherwise, you will not be charged to close your Robinhood account.
  5. Closing your Robinhood account also closes your Cash Management account, which will deactivate your debit card. [3]
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Section 2 of 3:

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  1. You can launch the app on your Android, iPhone, or iPad to easily close your account. During the closing process, you'll be prompted to take care of any loose ends (such as closing your positions) along the way.
  2. If you have any remaining stock shares, you'll need to sell those first. Go to the stock's page, choose Trade , tap Sell , and choose your selling preferences.
    • If you want to transfer your stocks to another brokerage instead, you can do so . Once your new brokerage initiates and completes the transfer, Robinhood will instantly close your account.
  3. You'll also need to sell or transfer any crypto you own. To sell crypto, just go to the cryptocurrency's details page, tap Trade , tap Sell , select an order type, and confirm your order. [4]
    • If you've enabled the cryptocurrency wallet in Robinhood, you can opt to transfer your crypto to another blockchain instead. [5] To enable the cryptocurrency wallet, tap the Account icon (the person), tap the menu, choose Crypto , then follow the on-screen instructions to activate your wallet. This can take up to 5 days.
    • To transfer crypto to another location after activating the wallet, go to the currency's details page, tap Send , enter the amount and wallet address, and go to Review > Submit . Make sure you enter the wallet address carefully, as an incorrectly-typed wallet address will result in lost funds.
    • Any on-chain transfer fees will be deducted from your balance during the transfer.
  4. After selling stocks and currencies, you'll need to transfer your cash balance over to your bank account. [6] It's super easy: [7]
    • Tap the account icon at the bottom-right.
    • Tap the three-line menu.
    • Tap Transfers .
    • Select your Robinhood account in the "From" field.
    • Select your bank account in the "To" field.
    • Enter the entirety of your balance.
    • Tap Review .
  5. It's the outline of a person at the bottom-right corner.
  6. It's the three horizontal lines at the top-left or top-right corner, depending on your platform.
  7. You'll see this on the menu. [8]
  8. If you don't see this red button, tap Account Information first. [9]
  9. If you still have open positions or there's a balance on your account, you'll see that information under "Deactivate your brokerage account." It can take a few days for sales and transfers to complete—if the "Deactivate account" button is grayed out, there's still more to do.
  10. Once you've fulfilled all obligations, your Robinhood account will be closed. [10]
    • It can take anywhere from 3 days to a week to close your account.
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Section 3 of 3:

Transferring to Another Brokerage

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  1. It's the three horizontal lines at the top-left or top-right corner, depending on your platform. If you need to transfer your stocks, ETFs, or options, to another brokerage before canceling, it's easy to do.
    • There is a fee for brokerage transfers.
    • If you have fractional shares, they'll be sold before the transfer. The cash balance from the sale(s) will be transferred as cash to the new brokerage.
    • If you're using margin trading on Robinhood, reach out to your new brokerage before transferring. Your brokerage may accept leveraged accounts.
  2. It's at the top of the screen.
  3. It's the number at the top of the screen below "Account no." You'll need to give this number to your new brokerage.
  4. The new brokerage will need to start the transfer from their end. Provide the brokerage with the following information: [11]
    • Your Robinhood account number.
    • Robinhood's DTC number, which is 6769.
    • Request an ACATS (Automated Customer Account Transfer Service) transfer of your entire portfolio. This is the only type of transfer that will work with Robinhood.
  5. Once the transfer is complete, all your settled shares, options, and cash from fractional share sales will move to the new brokerage. If you do not have a remaining cash balance, Robinhood will automatically close your account once the transfer completes. [12]
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      Tips

      • If you've fulfilled all of your obligations and are still unable to close your account, contact Robinhood support at support@robinhood.com.
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      • To retrieve your tax documents and other information from Robinhood after closing your account, tap the Account icon (the person), tap Statements , and then choose a document.
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      • When transferring cryptocurrency to another wallet, it's important that you get the cryptocurrency wallet address correct. If you enter the address incorrectly, you will not receive your funds.
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      References

      1. ↑ https://robinhood.com/us/en/support/articles/close-my-account/
      2. ↑ https://robinhood.com/us/en/support/articles/close-my-account/
      3. ↑ https://robinhood.com/us/en/support/articles/get-started-with-cash-management/
      4. ↑ https://www.geeksforgeeks.org/how-to-delete-or-close-robinhood-account/
      5. ↑ https://robinhood.com/us/en/support/articles/cryptocurrency-wallets/
      6. ↑ https://www.geeksforgeeks.org/how-to-delete-or-close-robinhood-account/
      7. ↑ https://robinhood.com/us/en/support/articles/close-my-account/
      8. ↑ https://www.geeksforgeeks.org/how-to-delete-or-close-robinhood-account/
      9. ↑ https://www.geeksforgeeks.org/how-to-delete-or-close-robinhood-account/
      1. ↑ https://robinhood.com/us/en/support/articles/close-my-account/
      2. ↑ https://robinhood.com/us/en/support/articles/transfer-your-assets-out/
      3. ↑ https://robinhood.com/us/en/support/articles/transfer-stocks-out-of-your-robinhood-account/

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