The steps to close a Robinhood account
To close your Robinhood account, log in to the app or website, go to your Account settings, select "Account" from the menu, scroll to the bottom, and tap or click "Close Account." Robinhood will ask you to confirm and may ask why you're leaving. After you confirm, the account closes immediately, but it takes a few business days for any remaining cash or securities to be returned to you.
Before you close the account, make sure you have no open positions—that means no stocks, options, or crypto holdings. If you do, you'll need to sell them first. You also cannot close the account if you have a negative balance or owe Robinhood money. If you have unsettled trades (trades that haven't finished processing), wait for them to settle before closing.
If you have cash sitting in the account, Robinhood will return it to the bank account or debit card you used to fund it. If you funded it with multiple accounts, the money goes back to the most recent one. The transfer usually takes three to five business days after the account closes.
Key Takeaways
- You must sell all stocks, options, and crypto before closing—Robinhood will not close an account with open positions.
- Any cash in the account returns to the bank account or debit card you used to deposit it, typically within three to five business days.
- Unsettled trades and negative balances will block the closure, so check your account status before you start the process.
- The account closes immediately after you confirm, but the return of your money takes several business days.
What happens to your money and holdings when you close
Any cash balance in your account is returned to the original funding source. If you deposited money from a checking account, it goes back there. If you used a debit card, it returns to that card. Robinhood does not hold your money after the account closes—it all goes back to you.
If you have stocks or other securities, you must sell them before closing. Robinhood will not transfer holdings to another brokerage as part of the closure process. If you want to move your investments to a different broker, you need to sell everything first, close the account, and then open a new account elsewhere. Some brokers offer a service called ACAT (Automated Customer Account Transfer) that can move holdings between firms, but Robinhood does not participate in this for outgoing transfers.
Cryptocurrency holdings must also be sold before closure. You cannot transfer crypto out of Robinhood to a wallet or another exchange through the account closure process.
Checking your account status before closing
Open the Robinhood app or website and go to your Account tab. Look at your positions—this shows everything you own. If the list is empty except for a cash balance, you're ready to close. If you see any stocks, options, ETFs, or crypto listed, you need to sell those first.
Check your buying power or cash balance. If it shows a negative number, you owe Robinhood money and cannot close until that's paid. If you have pending deposits or transfers, wait for them to complete before closing.
Look for any open orders. These are buy or sell requests you've placed but haven't executed yet. Cancel any open orders before you close, because they could execute after your account is closed and create complications.
Selling your positions before closure
In the Robinhood app, tap the position you want to sell. Tap the sell button, enter the number of shares or the dollar amount, and confirm. For stocks and ETFs, the sale usually executes immediately during market hours. For options, the sale may take longer depending on market conditions. For crypto, sales execute 24/7.
After you sell, the proceeds appear as cash in your account. Wait for the trades to settle—this takes one business day for stocks and ETFs, and is immediate for crypto. Once everything is sold and settled, your account will show only a cash balance with no open positions.
If you have fractional shares (pieces of a share), you can sell those too. Robinhood allows you to sell fractional shares at any time, so you don't have to round up to whole shares.
How long the closure takes
The account itself closes instantly when you confirm the closure in the app or on the website. However, returning your money takes longer. Cash transfers back to your bank account or debit card within three to five business days. Weekends and holidays add to this timeline—if you close on a Friday, the money may not arrive until the following Wednesday or Thursday.
If you have pending trades or unsettled transactions, the closure may be delayed until those clear. Robinhood will not close an account with unsettled activity.
What to do if you cannot close your account
If you see an error message when you try to close, the most common reasons are: you have open positions, you have a negative balance, you have unsettled trades, or you have pending transfers. Go back to your Account tab and check each of these. Sell any remaining holdings, wait for trades to settle, and make sure your balance is zero or positive.
If you have a negative balance (you owe money), you must deposit funds to bring it to zero before closing. If you have pending deposits or transfers, wait for them to complete or cancel them if possible.
If you still cannot close after checking these items, contact Robinhood support through the app. Tap the profile icon, scroll to Help, and select "Contact Us." Describe the error you're seeing, and support can tell you what's blocking the closure.
After your account is closed
Once closed, you cannot log back in or access the account. If you want to trade again, you'll need to open a new account. The new account will have a new account number and will be treated as a fresh account.
Keep any tax documents Robinhood sent you. If you sold securities at a gain or loss, you'll need those records for your tax return. Robinhood sends year-end tax forms (1099-B for securities sales, 1099-INT for interest) to your email. Save these even after you close the account.
If you closed the account but money hasn't arrived after five business days, check your bank account to see if it posted under a different name or description. If it's not there, contact Robinhood support with the date you closed and ask them to trace the transfer.
Frequently Asked Questions
Can I reopen a Robinhood account after closing it?
Yes. You can open a new account at any time using the same email address or a different one. The new account will be a separate account with its own account number. Any history from the closed account will not transfer over.
What if I have a margin balance or borrowed money?
You must pay back any borrowed money before closing. Go to your Account tab, look at your buying power or cash balance, and if it's negative, deposit funds to bring it to zero. Once the balance is positive or zero, you can close.
Do I lose my tax records when I close the account?
No. Robinhood sends tax documents to your email address, not to your account. After you close, you can still access those emails. Download and save any 1099 forms or trade confirmations before closing if you want a backup copy.
Can I transfer my stocks to another brokerage instead of selling them?
Robinhood does not support outgoing transfers of securities. You must sell everything before closing. After you close and open an account at another broker, you can buy the same stocks there if you want to hold them again.
How do I know if my cash transfer actually went through?
Check your bank account or debit card statement three to five business days after closing. The transfer should appear as a deposit from Robinhood or a related payment processor. If you don't see it after five business days, contact Robinhood support with your account closure date and the amount transferred.