Robinhood Account Withdrawal Disabled? Here’s Why
Imagine that you are trading in Robinhood, receive a profit, and now want to transfer those funds out of your Robinhood account directly into your bank.
But the moment you try to do so, you get an error message on the platform’s service: “Account Withdrawal Disabled.”
What happened? What’s the purpose and the reason behind this message?
If you have experienced this before, worry no more - continue reading today’s article on our web to get all the information you need about:
- How to fix Robinhood “Account Withdrawal Disabled” error message;
- Most common reasons why this error message appears on the Robinhood website;
- What to know about bank transfers in Robinhood.
Can’t Withdraw Money from Robinhood to Bank Account
When you sign in to Robinhood, you have access to trades, finances options, free stock trading, and more.
You can sell your stock and get the money transferred into your bank accounts (whether you have a normal or a savings account) in no time.
Nevertheless, it is possible for some users to be unable to access deposit features on time.
Although most reasons related to “ Can’t Withdraw Money on Robinhood” are actually linked to the platform’s settlement period policies, the restrictions might also appear out of nowhere.
You can learn more about Robinhood Crypto, Robinhood Financial, and Robinhood Gold by going to the Official Robinhood Website.
Why Is Your Robinhood Account Withdrawal Disabled & How to Fix It
Robinhood markets are actually a good option for those who want to trade in a safe space.
Nonetheless, when deposit problems start to happen, it is normal to lose interest in this platform.
There are actually a few requirements if you want to withdraw money from Robinhood to your bank account, whether you do it on the app or the official platform.
You can check more about these requirements here: Withdraw Money from Robinhood.
In any case, if you get a message that says “Account Withdrawal Disabled,” then there are four main reasons why this happens on this app, and we are going to address them all.
1. Your Robinhood Account Has Been Restricted
Account restrictions might be as light or as hard as Robinhood decides.
The platform security measures are top-notch, and if they sense fraud in any form, they will simply block transfers.
That’s why when you click account icon and tap on your settings, you will be limited from doing things inside Robinhood for a couple of days and even weeks.
Fix: Contact Robinhood Support Team to Lift Account Restriction
Your only course of action here is sending a message to Robinhood support and asking them to explain what’s happening.
You can either do this by clicking on “Support” at the bottom right corner of the menu icon, or click here.
They must explain the reasons behind your restricted account, and subsequently, unrestrict it, so you want to withdraw the money to your bank.
2. Automatic Withdrawals Suspended
As you know, it is possible to withdraw money from the Robinhood app in an automatic way.
Nonetheless, if your account has been slightly restricted for one reason or another, you will need to perform a manual withdrawal.
Fix: Contact Support for Manual Withdrawals
Then again, you need to talk to Robinhood customer support and ask for a manual funds withdrawal to your bank account.
They should reply within one business day, which should be more than enough for you.
Some users say that they have experienced these money limits on their account when logging in to different devices than the ones they use frequently.
3. Funds Need to Complete the Settlement Period
This is actually the most common reason why you can’t withdraw funds to your bank.
After performing a trade, you need to wait for the trade date plus two or three business days so you can withdraw funds to your account.
In some cases, three trading days must pass.
After the third day, the funds will settle, and then you will be able to cash them out.
Read Also: Why is your Withdrawable Cash 0 on Robinhood? Perhaps you need to wait for a while before you are able to transfer them to your bank.
Learn more about this problem by reading our related post.
Fix: Wait for Robinhood Limit to Over
Here you just need to wait for this limit to be restored. It’s a common rule that all Robinhood users must respect.
Sometimes, Gold users do not have to wait for settlement periods, so you might as well think about upgrading.
4. Outdated Personal or Linked Bank Account Information
If your personal or bank information is outdated, you must tap settings and update it as soon as you have a chance.
The “Account Withdrawal Disabled” message also appears when you try to use a different bank account from the one you originally deposited funds from.
Fix: Update Your Info and Contact Support
Tap on your profile, update your information, and send a message to the customer team once again.
As you can see, there’s a pattern here: the “Account Withdrawal Disabled” error message can mostly be solved by contacting support, so don’t waste your time and do it right away.
For more useful Robinhood trading content, check out our other articles on Hypenoon.
FAQ
Why Can’t I Withdraw Funds from the Robinhood App?
Perhaps the iOS or Android app is having problems. You can either try to update it via Google Play or Apple Store, or reinstall it if you must.
Learn more about this matter here: Robinhood Not Working.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.