Are there any fees or restrictions when transferring funds from Robinhood to a bank for cryptocurrency transactions?

3 answers

• Dec 17, 2021 · 3 years ago
  Yes, there are fees and restrictions when transferring funds from Robinhood to a bank for cryptocurrency transactions. Robinhood charges a fee of $75 for each outgoing wire transfer. Additionally, there may be fees imposed by your bank for receiving the funds. It's important to check with your bank for their specific fee structure. As for restrictions, Robinhood has a daily transfer limit of $50,000 and a weekly limit of $100,000. These limits are in place to ensure the security and compliance of the platform.
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• Dec 17, 2021 · 3 years ago
  Transferring funds from Robinhood to a bank for cryptocurrency transactions does come with fees and restrictions. The fees charged by Robinhood for outgoing wire transfers are $75 per transfer. Your bank may also impose fees for receiving the funds. It's advisable to review your bank's fee schedule to understand the potential costs. In terms of restrictions, Robinhood has a daily transfer limit of $50,000 and a weekly limit of $100,000. These limits are in place to prevent unauthorized or excessive transfers and to comply with regulatory requirements.
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• Dec 17, 2021 · 3 years ago
  Yes, there are fees and restrictions associated with transferring funds from Robinhood to a bank for cryptocurrency transactions. Robinhood charges a fee of $75 for each outgoing wire transfer. It's important to note that this fee is subject to change, so it's always a good idea to check the latest fee schedule on Robinhood's website. Additionally, your bank may charge fees for receiving the funds. As for restrictions, Robinhood has a daily transfer limit of $50,000 and a weekly limit of $100,000. These limits are in place to ensure the security and integrity of the platform.
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