How To Cancel A Transfer - Robinhood

How to cancel a transfer

If you don’t see the Cancel transfer option, that means your deposit or withdrawal has been submitted to your bank account for processing and can’t be canceled.

You can’t cancel an instant bank transfer but you might be able to cancel a standard bank transfer to or from your Robinhood account. Keep in mind that:

• An external debit card transfer can’t be canceled after it’s initiated, because the money transfers instantly. If you accidentally make a deposit, you can make a withdrawal to reverse it. Just remember, you’ll be charged a 1.75% fee (minimum fee of $1 and maximum fee of $150 per transaction) for instant withdrawals using a debit card, which is based on the amount being transferred out (daily withdrawal limits may vary).
• A standard bank transfer can be canceled while it’s still pending. Refer to the following steps to cancel a pending transfer. You can also make a withdrawal to your bank account for no fee to reverse it.
• An instant bank transfer (deposit or withdrawal) can't be canceled, but it will expire after 30 minutes if it's not accepted at your bank.

1. Select Account (person icon)
2. Select Menu (3 bars) → History
3. Select the pending deposit you want to cancel
4. Select Cancel transfer

1. Select Account → History
2. Select the pending deposit you want to cancel
3. Select Cancel transfer

Although bank transfers can be processed in minutes with Instant bank transfers, the following is the current schedule of when standard transfers to a bank account are processed:

After your bank processes the standard bank transfer, you can no longer cancel it. If you accidentally made a deposit, you can withdraw money from your Robinhood account after the transfer settles.

1. Select Account (person icon)
2. Select Menu (3 bars) → Investing
3. Select View Application
4. In Queued Deposits, select Cancel transfer
5. Select Yes

1. Select Account → Application Status
2. Select Cancel Deposit
3. Select Yes

If you’re a new applicant and successfully cancel a queued deposit, you’ll need to wait until your application is approved to fund your investing account. Also, if a Robinhood Strategies managed account remains unfunded for 120 days, it will be closed.