Do Robinhood Accounts Expire?
Robinhood is a popular investment app that allows users to buy and sell stocks, ETFs, options, and cryptocurrencies. But like any financial account, there is always the question of whether it will expire. So, do Robinhood accounts expire?
The short answer is no, Robinhood accounts do not expire. Your Robinhood account will remain active as long as you continue to use it and meet the company’s requirements for maintaining an active account. This includes logging in to your account at least once every six months and maintaining a minimum account balance of $2,000 (or completing at least one trade every 12 months).
However, there are some important things to keep in mind when it comes to your Robinhood account. For one, if you fail to meet the requirements for maintaining an active account, your account may be considered “inactive” and subject to certain fees and restrictions. Additionally, if you do not log in to your account for an extended period of time, your account may be considered “dormant” and subject to additional fees and restrictions. In either case, you may also risk having your account closed by Robinhood.
Inactive Accounts
As mentioned above, if you fail to meet the requirements for maintaining an active account, your Robinhood account may be considered “inactive.” This typically happens if you do not log in to your account at least once every six months, or if your account balance falls below the minimum requirement of $2,000. If your account is considered inactive, you may be subject to certain fees and restrictions.
For example, Robinhood may charge you an inactivity fee of $50 per year if your account is inactive for more than two years. This fee is designed to cover the costs of maintaining your account and providing you with access to Robinhood’s services. In addition to this fee, your account may also be subject to other restrictions, such as limited access to certain features or a lower priority for customer support.
To avoid having your account become inactive, it is important to log in to your Robinhood account at least once every six months and maintain a minimum account balance of $2,000 (or complete at least one trade every 12 months). If you are unable to meet these requirements, you should contact Robinhood customer support to discuss your options and avoid any potential fees or restrictions.
Dormant Accounts
In addition to inactive accounts, Robinhood also has a policy for dormant accounts. A dormant account is one that has not been logged in to for an extended period of time, typically three years or more. If your Robinhood account becomes dormant, it may be subject to additional fees and restrictions.
For example, Robinhood may charge you a dormant account fee of $50 per year if your account is dormant for more than three years. This fee is designed to cover the costs of maintaining your account and providing you with access to Robinhood’s services. In addition to this fee, your account may also be subject to other restrictions, such as limited access to certain features or a lower priority for customer support.
To avoid having your account become dormant, it is important to log in to your Robinhood account on a regular basis. If you know that you will be unable to log in to your account for an extended period of time, you should contact Robinhood customer support to discuss your
