What is the $100 fee on Robinhood?

The $100 fee on Robinhood is an Asset Transfer Out fee, charged when you initiate a full or partial transfer of your investments or cash from your Robinhood account to another brokerage firm.

Understanding the Robinhood Asset Transfer Out Fee

This specific $100 charge applies when you decide to move your assets, such as stocks, ETFs, options, or even just your cash balance, from Robinhood to an account you hold at a different financial institution. This type of fee is common across the brokerage industry and is often referred to as an ACATS (Automated Customer Account Transfer Service) fee. It covers the administrative and processing costs associated with transferring assets between different brokerage systems.

The fee is automatically debited from your Robinhood account's available cash balance. Therefore, it's essential to have sufficient cash in your account to cover this charge when initiating a transfer to avoid delays or complications.

When Does This Fee Apply?

The $100 asset transfer out fee applies in specific scenarios:

• Full Account Transfer: When you decide to close your Robinhood account and transfer all your holdings (investments and cash) to another brokerage.
• Partial Account Transfer: When you choose to move only a portion of your investments or cash from Robinhood to an outside brokerage, while keeping the remaining assets or account open with Robinhood.

It is important to note that this fee does not apply when you simply sell your assets within Robinhood and then withdraw the cash to your linked bank account. This fee is specifically for transferring assets in kind to another brokerage.

How the Fee is Processed

When you request an asset transfer out, Robinhood will automatically attempt to deduct the $100 fee from the available cash in your Robinhood account. If your account does not have enough available cash to cover the fee, the transfer process might be held up or you may need to deposit funds to facilitate the transfer.

For more details on transferring your assets out, you can refer to Robinhood's support information: Transfer your assets out

Summary of the $100 Fee