Robinhood Account Withdrawal Disabled is an issue that occurs when you try to withdraw money from your Robinhood account. You may see this message: “Account Withdrawal Disabled.” This means that you cannot send any funds from your Robinhood account at this time. If this happens, you will need to contact customer service so they can help fix it as soon as possible.
The first thing you should do if you’re having trouble withdrawing funds from Robinhood is to contact their support team. You can reach them by phone, email or live chat. If you prefer email or live chat, then make sure you include all relevant details about your issue in your message so they can get back to you right away.
Robinhood is a company with rules, regulations, and policies. The slightest disregard for these regulations could lead to the ‘account withdrawal disabled’ response. However, I have a few tips that could help clear such response.
How to Fix Robinhood Account Withdrawal Disabled Response
There are a number of different ways to fix your Robinhood account withdrawal disabled.
-If your withdrawal have been blocked by Robinhood, then there is a chance that they may be reviewing your account. This could take up to 48 hours, but if you’ve been waiting longer than that, then it’s probably time to give them a call and find out what’s going on.
-Another reason why your account might be blocked is because they believe you’re trying to withdraw more money than you have in your Robinhood account. If this happens, then it’s best not to try and deposit more money into your account until the issue has been resolved.
-If neither of these solutions work for you, you can try the possible solutions below:
You can have your funds locked or unlocked on your Robinson account. You may have activated the lock feature, restricting you from withdrawing.
If, for any reason, your account on Robinhood gets restricted from withdrawals, you have to search for ways to fix your restricted account before trying to withdraw your money. In such a case, you would be unable to have full access to your account talk more of placing a withdrawal order. The following are reasons why Robinhood can make your account restricted from withdrawals;
- Control person of a company.
- Inaccurate information
- Fraud protection
- Transfer Reversals
- Levies fixated on accounts.
As a withdrawal rule, the buying power has to be in your hands before a withdrawal order can be placed. This is usually because of a sale made in your brokerage account. After this sale, you are to wait for about three days (trade date + two trading days) for the fund to ‘settle‘ before you can initiate a withdrawal order to your bank account.
It takes five business days to settle a deposit in one’s account. And before the five business days, you do not have the power to spend or withdraw. You have to wait for it to be completed before deciding to place a withdrawal order.
Withdrawals to another bank account
When opening a Robinhood account, you would be required to register a bank account which would serve as the deposit account. However, suppose you would like to withdraw your money in another bank account different from the original account, you would be asked to deliver a series of additional information.
This procedure usually takes time to process, and you might have to wait for the information to be verified before initiating a withdrawal order.
Before initiating a withdrawal order on your Robinhood account, you should note that there is a limit to what you can withdraw and the days you can withdraw. First,
- You can only make up to five withdrawal orders for every business day. In other words, you can withdraw five times on any business day. This exempts public holidays, festive days, and so on.
- Your total withdrawal amount for a day should not be more than $50,000. If you like to withdraw an amount higher than that, you have to do that the following business day.
The following could be the reason why you are getting the ‘account withdrawal disabled’ response on your Robinhood account. If you fall within these reasons, fix it accordingly, and try withdrawing again. You can contact Robinhood Customer Support if needed.
TIP: In cases where you do not fall in any of the categories listed, and you’ve been trying to reach them and all to no avail, try sending a cautionary message stating your concern and struggles, and tell them about how to plan to initiate legal action if the ‘account withdrawal disabled’ is not fixed. That always seems to do the trick! But ensure you do not fall into any of these categories, and you must have done all that is necessary.
How To Withdraw Money From Robinhood Buying Power
As a financial brokerage company, it has various options that give room for the company and customer to control the money. The purpose of this is to create a secured and protected platform for the owner.
You can lock and unlock your cash and assets on your Robinhood account. This is helpful to people who would like to strategize their investment process. However, when your assets are locked away, you can not make withdrawals because the buying power is in the hands of the company and not you.
However, you can withdraw your money from Robinhood’s buying power by unlocking your cash and assets. Visit the CASH TAB on your account to see how you can withdraw money from Robinhood’s buying power by unlocking your cash and assets.
How do I enable withdrawal on Robinhood?
To make withdrawals to your bank account on your iOS or Android device, proceed with the following steps;
Step 1: At the bottom right corner of the app page, look for the Account icon.
Step 2: Click on Transfer.
Step 3: Click on Transfer to Bank.
Step 4: Select your preferred withdrawal bank account.
Step 5: Enter your desired amount to withdraw.
Step 6: Click on Submit.
However, to make a withdrawal order on the Robinhood web, proceed with the following steps;
Step 1: At the upper right corner of your web screen, click on account.
Step 2: Click on Transfer.
Step 3: Use the panel on the right side of your screen to start the withdrawal process.
Note: Before initiating this withdrawal order, check out “How to Fix Robinhood Account Withdrawal Disabled Response” section in this article. And ensure your fund is not ‘locked’ on your Cash Tab.
Why is Robinhood not letting me withdraw my money?
This could be due to numerous reasons. These reasons are;
- The money you seek to withdraw exceeds the withdrawal total amount limit. Also, your withdrawal order is not made on a business day.
- The money is yet to get ‘settled’ and ready for withdrawal.
- The deposit date is uncompleted. At such a period, you are not eligible to withdraw.
- Your account is restricted.
- You are withdrawing to a different bank account.
- Your account is locked from withdrawals.
The following could be the reason why your Robinhood account is restricted from withdrawal. If you fall within this category, check out the “How to Fix Robinhood Account Withdrawal Disabled Response” section in this article.
How long does it take for Robinhood to take money from the bank?
This usually takes about two to three business days. Your fund might even arrive before the beginning of the second day. However, two to three days is the official withdrawal date. You can contact customer support if you are yet to see yours after the third day.
How Much Does It Cost To Withdraw Money From Robinhood?
Robinson charges no withdrawal fee for ACH withdrawals to a bank account. However, some minor fees may come up for other transactions, such as domestic wire transfers ($25) and international wire withdrawals ($50).
Can you use Robinhood without a bank account?
Unfortunately, you can not use Robinson without a bank account. The reason is that bank accounts are used to deposit money in your Robinson account and make withdrawals.
Why Is My Withdrawable Cash $0 On Robinhood?
Your Robinhood account can be restricted from withdrawal because the cash has not exceeded the settlement period. After a trade or sale, you have to wait for the cash to ‘settle’ before any withdrawal can be placed. The withdrawal period normally takes three days, starting from the trade date to an additional two trading days. You should be able to see your withdrawal cash the following day.
How do I contact Robinhood immediately?
You can contact Robinhood customer support for all your queries, complaints, and other support needed. You have the option to sign in to your account or not.
However, you could also use the help center. If you need to get answers to your queries faster, you could use this method.
Shortcuts To Robinson Contact Support
|(650) 761-7789You can also initiate a call from a live agent within the Robinhood app.
Download the Apple Store app or Play Store app.
As discussed, there are numerous reasons why you can be getting the ‘Account Withdrawal Disabled’ response on your Robinson account. It could be that your account is restricted from withdrawal or other various reasons. However, I hope this article helps you find answers to your questions.