Robinhood ACAT (Account Transfer) Fee (Transferring OUT)
Robinhood ACAT fee cost is $75 for account transfer (stock positions and ETF's). If you move your account to
Webull,
they will reimburse this ACAT fee (accounts with over $2,500 balance).
Robinhood Account Transfer
If you no longer find the novelty of Robinhood brokerage app appealing, and you're looking to transfer to a more traditional brokerage, then read on.
Robinhood app offers outgoing ACAT transfers for an industry standard price of $75. While the trades are free, the account transfers unfortunately are not. There is no option given for a partial account transfers.
The cost of this transfer is likely to be offset by your new brokerage's reimbursement of your
transfer fees. Not all brokerages offer ACAT reimbursement so please make sure that your new
brokerage offers reimbursement
prior to moving your funds. Some popular brokerages that do not offer reimbursement of ACAT fees
include: Webull and
Ally Invest.
Many other smaller brokerages don't include reimbursement as well so it's always a good idea to call and check to see if ACAT reimbursement is available at your new brokerage.
Brokerages typically have some leeway in deciding whether or not to offer somebody reimbursement. The
larger your account, the better your chances of getting something to entice you to join. Nearly all brokerages, including Robinhood,
do not charge a fee to transfer your account to their brokerage.
Popular Transfer Destinations from Robinhood
How To Close and Transfer Robinhood Account
To learn how to close a Robinhood account and transfer it to another broker follow this link »
Robinhood Wire Transfer Fees
For out-going wire transfer at Robinhood there is $25 fee per domestic transfer, and $50 for international transfer. Incoming wires
are free.
How Many Customers Are Leaving
Data on account transfers is usually kept under lock and key. Most brokerages will not willingly provide information regarding how many
accounts leave them each year. Luckily, this information can be found for a major broker, E-Trade, due to its publicly traded status.
The account attrition rate was 8.5%, 9.7% and 8.7% for the years ended 2016, 2015 and 2014, respectively, according to
E-Trade's most recent 10-K. With over 3 million accounts at E-Trade, this amounts to nearly 300,000 accounts transferring out each year
at E-Trade alone with a little more than that transferring in or creating new accounts. Millions of people transfer accounts each year,
some people do it to take advantage of promotions, some because of higher levels of service and education tools, and others because of
lower fees.
Why Customers Are Leaving Robinhood
If you're transferring from Robinhood, it's unlikely you're doing so because of high commissions,
given that there are no commissions. If you're looking for better tools and education, nearly every broker, even the discount ones
like Ally Invest, will offer tools to help and support you along with market data. Many people leave Robinhood because they were
unsuccessful at picking individual stocks that beat the market and they are now looking to simply buy index mutual funds. If this is the case,
the top new brokerages are shown above.
By switching from Robinhood to one of the above brokers, you can buy many mutual funds and ETFs commission free while enjoying the
benefits of market data and educational tools as well as a more standard brokerage platform with more tools and options.
Robinhood Account Transfer Fee Disclaimer
To view current Robinhood ACAT fees (full and partial account transfer out, as well as wire transfer and ACH fees and ACAT eligibility status)
visit their online portal.
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