Once you have decided to delete your Robinhood account, it is necessary for you to keep in mind some most important things before you remove your account. In this article, we will explain to you how to delete a Robinhood account and a lot more things about a Robinhood account.
Important Factor Before you Delete Your Robinhood Account
Before you delete your Robinhood account, you’ll need to clear your account completely.
To delete Robinhood’s brokerage account, be aware that the firm requires a written request to do so. The broker also will not close an account unless it has a $0.00 balance.
Now, see all your securities and then transfer the cash balance to your external bank account. You can do so by using the broker’s mobile app. Since Robinhood has $0 commissions, you don’t have to worry about the liquidation process costing anything.
How to Delete Robinhood Account
As we already mentioned that you can only delete your account with a written request. If you are using your browser to delete your Robinhood account, make sure your account has a zero balance. Now once your account has a zero balance, you’ll need to send a closure request via e-mail to firstname.lastname@example.org. It could take up to a week for the firm to complete the request.
Once your request is completed or your account will be deleted, to confirm, you will get a notification. Otherwise, after a week, you can try to log in to your account, if it says that the user doesn’t exist, you consider that your account has been deleted.
How to Close Robinhood Account
If you are using your Robinhood account via App, no issue you can still close your Robinhood account. In the broker’s mobile app, it has an account closure request form. To close your Robinhood account, make sure you follow the instructions carefully.
1. Open the app on your phone (Android and iPhone) and go to the Help menu. Now under the Help menu, choose ‘Contact Support’.
2. Next, tap on ‘My Account’. Now under the My Account section, you can choose ‘Close my account’.
3. You’ll be asked to type a quick message request the closure of your trading account. Other brokers, such as TD Ameritrade, can be reached via online chat to submit a request.
- Once your request is completed, tax documents, trade confirmations, and account statements will still be available through the Robinhood mobile platform.
- In case you change your mind or want to reactivate your Robinhood account after you close it, you’ll need to register as a new user.
Note: Unfortunately, Robinhood doesn’t offer this type of service.
Note: Robinhood does not charge anything to close a brokerage account.
How to Reactivate Robinhood Account
As you cannot delete your account on your own, you even cannot reactivate your Robinhood account on your own. However, you can send them an email before completely deleting your account to stop deletion or reactivate your account.
Can I delete my Robinhood account and make a new one
You’ll need to send the closure request of your account at email@example.com to delete your Robinhood account. Once your request completed and your account will delete, you can then create your new account.
Can’t deactivate Robinhood account
If you want to deactivate your Robinhood account within the app, make sure you follow the steps carefully.
- Open the Robinhood account on your phone and tap the Account (person) icon.
- Now, tap Settings>Account information.
- Scroll and hit Deactivate Account.
- Now, you can follow the steps of all your positions and withdraw your outstanding balance. Once your balance is $0.00 and your positions closed, you will be able to confirm your deactivation request.
How to close positions on Robinhood
To close positions on the Robinhood account, you will need to tap Settings>Account Information, and scroll down, and hit Deactivate account.
Follow the steps to close all your positions and withdraw your outstanding balance.
How to unlink bank account from Robinhood
To unlink a bank account from Robinhood, open the app and tap ‘Account’ in the top-right corner of the browser and choose ‘banking’ from the menu that pops up.
Under ‘linked accounts’ hit the ‘remove’ button next to the account you wish to unlink.