What is ROBINHOOD on My Bank Statement?
ROBINHOOD is a billing label used when you’re charged for optional premium services through the Robinhood investing app. While most of Robinhood is free to use, some features—like Robinhood Gold—incur monthly fees.
Why Am I Being Charged by Robinhood?
Possible reasons include:
- Robinhood Gold subscription (offers margin trading, Level II market data, etc.)
- Interest on margin balances
- Other service fees (rare, but possible with certain trades)
What is Robinhood?
Robinhood is a mobile and web app that allows commission-free trading of stocks, ETFs, and crypto. It’s popular with beginner investors and offers both free and paid tools.
Is the Robinhood Charge Legit?
Yes, usually it’s a $5/month charge for Robinhood Gold. You can check your plan and history by logging into the app or visiting robinhood.com.
How to Cancel Robinhood Gold
To avoid future charges:
- Open the Robinhood app
- Go to Account > Menu > Investing
- Select Robinhood Gold and tap Cancel
FAQ
- What is ROBINHOOD on my credit card?
- It’s a charge for Robinhood Gold or another paid service within your Robinhood account.
- Why did I get charged if trading is free?
- You may have subscribed to Robinhood Gold or used margin trading features.
- How do I stop Robinhood charges?
- Go into your account settings and cancel Robinhood Gold.
