How To Transfer From Robinhood To Charles Schwab 2024

Transferring your stock holdings from one brokerage platform to another can seem like a daunting task, but with Charles Schwab, the process is simpler than you might think.

This guide will walk you through the step-by-step process of transferring your stocks from Robinhood to Charles Schwab, ensuring a seamless transition without the burden of excessive fees or complicated paperwork.

Check out my video on how to transfer your brokerage account below, let's dive in!

Learn More: Robinhood Retirement 3% Match

Robinhood is a popular "all-in-one" investing app.

While they are most well-known for their commission free stock trading, they've recently shaken up the Retirement Investing World too.

Introducing Robinhood Retirement; home of the biggest IRA match on the market.

Here's what you need to know:

• Robinhood offers 2 types of retirement accounts - the Roth IRA and Traditional IRA
• All Robinhood investors will get a 1% Match on what they Contribute or Transfer
• Robinhood Gold members will get a 3% Match - the biggest on the market

And don't worry, this comes with a Portfolio Builder Tool. You don't have to construct your investment portfolio from scratch if you don't want to.

Lastly, you'll even get a free stock worth up to $200 when you open a new Robinhood account using our link.

Best Free Stock Promotions

Brokerage	Promotion	Link
	1 Free Fractional Share Worth Up To $200	Learn More
	Earn Up To 75 Free Fractional Shares	Learn More
	5 Free Stocks When You Deposit $100+	Learn More
	$20 Bonus When You Invest $5+	Learn More

Important Tips

1. Charles Schwab does not impose fees on account transfers.
2. You do not need to pay taxes on assets transferred to Schwab. However, if you decide to sell assets that cannot be transferred, you may incur tax liabilities on those sales. Assets like publicly traded stocks, ETFs, mutual funds, and bonds can generally be seamlessly transferred.
3. Crypto cannot be transferred.
4. Robinhood charges a $75 fee for transferring your assets.
5. To prevent potential issues during the transfer, ensure that your Robinhood account does not have fractional shares, options contracts, or unsettled transactions. These factors can complicate the transfer process.

1. Open an Account with Charles Schwab

To begin the transfer process, you'll need to open an account with Charles Schwab.

When prompted to choose a funding option, select "investment account transfer."

Your account will be approved within five business days, after which you can proceed to initiate the transfer.

2. Log In and Navigate to Transfers and Payments

Once your Schwab account is ready, log in to the desktop site.

Navigate to the 'Accounts' tab and select 'Transfer Account' from the dropdown menu.

This will lead you to the Transfers and Payments section, where you can manage the transfer of your assets.

3. Enter Account Information

In the transfer interface, enter the name of the firm holding your Robinhood account and your Robinhood account number.

This information is crucial for accurately identifying and initiating the transfer of your assets.

4. Decide What to Transfer

Choose whether you want to transfer the entire account (full transfer) or only specific assets (partial transfer) from your Robinhood account to Charles Schwab.

This flexibility allows you to tailor the transfer to meet your individual preferences and portfolio needs.

5. Authorize the Transfer

Provide the necessary information to authorize the transfer. This typically involves confirming your identity and approving the transfer request.

Charles Schwab ensures a smooth and secure transfer process with minimal hassle.

Conclusion

Transferring your stocks from Robinhood to Charles Schwab is a straightforward process that can be easily managed through the desktop site.

With no transfer fees on the Charles Schwab side, this move allows you to take advantage of Schwab's comprehensive brokerage services without unnecessary financial burdens.