Robinhood is an excellent platform for newbie investors.
But if you’re new to this investing world or if you’re using Robinhood for the first time, you might have difficulties and confusion while using the app.
One such difficulty is adding money to the Robinhood account.
It’s the most common issue that the majority of people face when they open a Robinhood account for the first time.
Especially if you want to add funds to Robinhood without a bank account, it certainly seems impossible.
But to be honest, it is possible to add money to your Robinhood account without ever connecting your bank account.
But the question is: how?
That’s what we’re going to find out in this post.
In this post, we’ll show you how to add money to Robinhood without a bank account.
So without wasting any further time, let’s dive in.
Is It Possible to Add Money to Robinhood Without a Bank Account?
The good news is that Robinhood makes it easy for people to add funds without adding a bank account on the platform. The platform supports various financial apps and digital banks, including PayPal, Cash App, Chime, and Netspend.
So, YES! It is possible to add money to Robinhood without a bank account. But you will have to use different methods for doing that.
How to Add Money to Robinhood Without Bank Account
Although there are a lot of different methods to add money to Robinhood without a bank account, below are the simplest and safest ones:
PayPal is a popular way to send and receive money, and millions of users use the platform daily. Robinhood has made it easy to link your PayPal account and add funds to Robinhood without any hassle.
Step 1. Open the Robinhood app, and tap on the Cash icon.
Step 2. Tap on Deposit funds.
Step 3. Now tap on Continue.
Step 4. Find PayPal from the list and link it to Robinhood.
Step 5. Log in to your PayPal account safely.
Once the PayPal account linking is successful, you can use it to deposit funds to Robinhood.
Adding money to Robinhood without a bank account using Skrill is pretty much the same as PayPal. Here’s how you use it for adding money to your Robinhood wallet.
Step 1. Open the Robinhood app and tap on the Account icon in the bottom right corner.
Step 2. Now tap on Transfers.
Step 3. Tap on Linked Accounts.
Step 4. From here, tap on Add New Account.
Step 5. Find Skrill from the list and link your Skrill account.
Step 6. Then log in to your Skrill account.
And now, you’ll be able to add funds to your Robinhood account using Skrill.
Use Netspend Prepaid Debit Card
It is no strange information that Robinhood allows certain prepaid cards. Robinhood accepts Netspend Prepaid cards, and you can seamlessly add the card to your Robinhood account. Once you add the prepaid debit card to your account, you can use it to add funds.
You can set up a direct deposit if you have a payer, an employer, or a payroll provider. There are three ways of doing it.
If you work for a company or have a payroll provider, you can set up a Direct Deposit (DD) from their website.
Can You Add Funds to Robinhood With a Debit Card?
Yes, adding funds to Robinhood with a debit card is possible. All you have to do is link the debit card to your Robinhood account.
The process is the same as linking any other bank account. It’s super easy and won’t take more than a couple of minutes.
Can You Use Robinhood Without Linking your Bank Account?
Yes, you can use Robinhood without linking your bank account. Adding a bank account to Robinhood is not necessary. As long as you use other methods to add funds to your account, you can trade, buy stocks or invest in cryptocurrencies peacefully.
Can You Use a Credit Card to Add Funds to Robinhood?
No, you can’t use credit cards to add funds on Robinhood. You can only use debit cards to add money to this platform.
Can You Deposit Cash into Robinhood?
No, the Robinhood trading platform does not accept cash for deposits. The only way to add funds is via digital methods.
Can You Deposit Crypto into Robinhood?
Yes, you can instantly deposit Crypto in your Robinhood account.
Does Robinhood Allow Instant Deposits for Crypto?
Yes, the Robinhood platform does allow instant deposits for Crypto. But you will need access to a Robinhood Instant Account to get access to your funds up to $1,000 to trade cryptocurrency.
Adding money to Robinhood without a bank account is totally possible and a seamless process. If you have a PayPal or a Skrill account, you are already set as you just have to link them to your Robinhood account. Additionally, you can also use the Direct Deposit service to add funds to your account.
We hope now you have a clear understanding of how to add money to Robinhood without linking any bank account.