Why Is My Withdrawable Cash $0 on Robinhood
The Robinhood app has become one of the best platforms for buying, trading, and selling stocks in the United States.
Nonetheless, whenever you invest your money or participate in a trade, you inevitably need to withdraw your money.
So, what happens if you try to make a withdrawal, but it says that your balance is $0? What do you do then?
If you have encountered this issue before, then let’s solve it right away.
Keep on reading to learn more about:
- Why is my withdrawable cash $0 on Robinhood?;
- What to know about Robinhood withdrawals;
- How to solve the “withdrawable cash $0” problem on Robinhood.
What Does “Withdrawable Cash is $0” on Robinhood Mean?
It simply means that you don’t have funds to withdraw on your account.
Trading stocks on Robinhood is often elementary, which is why many young investors choose it as their main platform.
But if you Can’t Withdraw Money from Robinhood, then frustration might appear. This happens mostly due to two reasons:
- You don’t have enough buying power to carry on transactions;
- You need to settle your Robinhood funds before you deposit them into your bank.
Newcomers need to understand these two concepts before they start using Robinhood.
That way, you will know when the access to your withdrawable funds will be granted.
We highly recommend you to read our Unsettled Funds on Robinhood guide for more information.
Either way, Robinhood provides up-to-date information regarding these topics on the official Robinhood website.
Also, keep in mind that whenever you transfer funds from your bank to Robinhood, you need to wait for more than one business day before the money is fully available on your profile.
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Why is My Withdrawable Cash $0 on Robinhood & How to Fix It
In order to successfully fix this issue, it is imperative to understand the root cause of the problem.
There are four main reasons that might lead you to experience this message, and the solutions vary.
Therefore, comprehending why your withdrawable cash is $0 will lead us to find a proper solution for a problem that has happened to many Robinhood users in the past.
Read Also: Why is Robinhood Not Working? Besides the “withdrawable cash $0 on Robinhood” error, there are other issues that might appear out of nowhere on your profile.
Worry not - we show you all the main solutions for the problems that might be tormenting your account! Read our post to learn more.
1. Your Robinhood Funds Need to Settle
This is the main reason why you can’t withdraw to your bank account.
After you sell or trade stocks, you need to wait for a while before being able to take the money to your bank.
All the funds and gains that come from stocks, crypto, EFT, and options, need to settle for at least two trading days.
Some users might wait as little as just one business day, or as high as three trading days.
It really depends, but wait for three days for the funds to settle after selling.
If the third day passes and you still have $0 on Robinhood, then try the following fixes.
Otherwise, just cash out your money to your bank account and your operation will be marked completed!
2. You Are Trying to Sell Referral Stock
Robinhood has a referral program that works amazingly for some users.
When their referrals start selling and obtaining revenue on their account, you can cash out some funds.
Nonetheless, you need to wait for 30 days before being able to make a referral funds withdrawal.
Just be patient! You will be able to withdraw the funds in a month - there’s no way around this.
3. Restricted Robinhood Account
Robinhood takes account restrictions seriously. A restricted Robinhood profile can happen due to many reasons: money laundering, suspicious activity, being a control person, and more.
If your account gets restricted, you won’t be able to make a funds withdrawal to your bank account - as simple as that.
In this case, understanding the reasons that led to the restrictions is your best show for solving these problems and gaining access to your account once again.
4. Withdrawal Limits to Your Bank Account
There are some details regarding any withdraw process that you need to know:
- You can withdraw up to 5 times on a single day;
- The maximum amount for weekly withdrawals is $50,000;
- If you try to make more than five withdrawals, your account might get blocked.
Failing to respect these limits might cause your inability to cash out after selling your assets.
Learn more about how to Withdraw Money from Robinhood here.
Contact Robinhood Support Team
If you tried all the previously mentioned fixes, but the “withdrawable cash $0” on Robinhood message continues to appear, then contact Robinhood support as soon as possible.
Worry not - the problem should disappear if you carefully follow our solutions.
For more Robinhood info, check the other articles we have for you here, at GrowFollowing.
FAQ
Can I Get Restricted Being a Robinhood Gold Member?
Yes, you can. Being a Robinhood Gold Member it’s not a reason for not being blocked on the platform in case you do something suspicious, so watch out!
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.