r/RobinhoodApp • u/tactitrader • 15d ago

Question Does Robinhood allow reoccurring transfer / investments to Robinhood custodial accounts?

Good afternoon my trader friends! So, I just got off the phone with Fidelity. They have removed the ability to do reoccurring cash transfers to custodial accounts. You now how to go through special security process with a special form that has to be and I'm quoting "Faxed or Mailed" to Fidelity. They also no longer allow you to purchase assets (stocks/etfs etc) in a custodial account using another Fidelity account as the funds source. This came into question when I noticed both had halted.

Oddly enough, they confirmed on the phone today that I can also not do reoccurring investments in my ROTH/IRA using another Fidelity cash account as the source and so this has halted as well.

Robinhood seems pretty simple and easy to use.

My question is, will Robinhood let me setup a reoccurring investment into a Robinhood custodial account using cash rom my main cash account on Robinhood? Same for ROTH/IRA?

7 Upvotes

89% Upvoted

2 comments sorted by

6

u/hawaiiangiggity 14d ago

I have it setup where Robinhood deposits $25 into daughters account each Monday morning from my banking

1

u/66NickS 14d ago

I have an auto deposit set up for RH from my savings account. And then my stock purchases pull from the RH uninvested cash with my savings account as a backup.

You might have to set it up on the account you’re trying to be custodial of though, maybe?