How to Robinhood Transfer Stock to Another Person?

Robinhood doesn't offer a direct feature to transfer stocks to another person's account on the platform. However, you can still transfer stocks indirectly to another person by following these general steps:

1. Sell the Stock: First, you need to sell the stock you want to transfer from your Robinhood account. To do this, open the Robinhood app or website, navigate to the stock you want to sell, and initiate a sell order.
2. Transfer Cash: Once you've sold the stock, the proceeds will be reflected as cash in your Robinhood account. You can then transfer this cash to your bank account using the "Transfer" feature in the app or website.
3. Gift or Transfer Cash: After the cash is in your bank account, you can transfer it to the other person's bank account, either through a standard bank transfer or by withdrawing cash and physically giving it to them.
4. Other Person Buys Stock: Once the other person has received the cash, they can use it to purchase the same stock (or any other stock) using their own Robinhood account.

While this method allows you to indirectly transfer the value of the stock to another person, it doesn't involve transferring the stock itself between Robinhood accounts. Keep in mind any tax implications of selling the stock and transferring cash.

If you need assistance or have questions about the process, you can contact Robinhood's customer support for further guidance. Additionally, Robinhood may introduce new features or services in the future, so it's a good idea to check their platform for any updates on stock transfer capabilities.

How to transfer stocks from robinhood to fidelity?

Transferring stocks from Robinhood to Fidelity involves a process called ACATS (Automated Customer Account Transfer Service). Here's a general overview of how to initiate a transfer:

1. Open an Account with Fidelity: If you don't already have an account with Fidelity, you'll need to open one. You can do this online through the Fidelity website or by contacting their customer service.
2. Initiate the Transfer with Fidelity: Once your Fidelity account is set up, you'll need to initiate the transfer process with Fidelity. They will provide you with instructions and any necessary forms to fill out.
3. Provide Robinhood Account Information: You'll need to provide Fidelity with information about your Robinhood account, including the account number and any other required details.
4. Authorize the Transfer: You'll likely need to sign a transfer authorization form provided by Fidelity. This form gives Fidelity permission to request the transfer of your assets from Robinhood on your behalf.
5. Wait for the Transfer to Complete: After you've submitted the necessary paperwork, Fidelity will handle the rest of the transfer process. This typically takes around 5-7 business days, although it can vary depending on the complexity of the transfer.
6. Confirm the Transfer: Once the transfer is complete, you should receive confirmation from both Fidelity and Robinhood. You'll be able to see your transferred stocks in your Fidelity account.
7. Review and Manage Your Holdings: Once your stocks are in your Fidelity account, you can manage them just like any other holdings in your portfolio.

It's important to note that there may be fees associated with transferring assets between brokerage accounts, although many brokers, including Fidelity, often reimburse transfer fees up to a certain amount. Be sure to check with Fidelity for their current policies and any potential fees.

Additionally, keep in mind any tax implications of transferring stocks, as transferring securities between accounts may have tax consequences. It's a good idea to consult with a tax advisor or financial professional if you have questions about the tax implications of transferring your stocks.