Do you have Robinhood account and you are wondering whether you can purchase Robinhood gift card for your loved ones? Let’s find out!
1. At the moment, it is not possible to purchase Robinhood gift card.
2.You can not fund your Robinhood account using prepaid cards.
3. You can get your hands on Amazon Gift Card via Robinhood by taking a simple survey.
…and Much More!
Is It Possible To Buy a Robinhood Gift Card?
One of the most frequently asked questions from a new Robinhood accountholder is whether he can buy a gift card or not?
Gift cards are definitely more attractive as easier to use than carrying cash at all time. They can also be gifted to other on special occasion.
- Robinhood gift card would be a dream come true as it would allow for easy purchase of stock but the company does not offer any card of this sort yet.
Can You Fund Robinhood Account Using a Prepaid Card?
It is a commendable service that lets you invest in stock market with Robinhood. Users who are looking for a good investment opportunity often think about using the money in their bank account to buy stocks here.
- However, you can not use a prepaid card to add money to Robinhood or make any purchase here.
Don’t be disappointed! Gift cards that you have purchased or got can be utilized in many other ways.
- You can exchange the gift cards for cash at different walk-in stores or websites.
- You can withdraw cash from the gift card at relevant kiosk.
- Gift cards can also be used for making purchases online or in-store as an alternative to paying at different stores with the bank account.
Is It Possible To Fund The Account Using App Store Gift Card?
Long story shot: No!
You can not fund a Robinhood account using your App store gift card. However, we do understand where the confusion stems from.
Since Robinhood is an application, most users believe that the account can be topped-up through app card.
- Not True!
You can download the app for free and use it as per your need but it can not be refunded in this manner. If you are in need of purchasing via app, the only hope is to link a bank account and transfer money through it.
Alternative: Amazon Gift Card
The company came up with the idea of giving out Amazon gift cards to its users several years back.
Robinhood customers cost money when they could not trade so the company instead offered $75 Amazon gift cards to comfort the users against lack of service.
- Robinhood customer can also get their hands on Amazon gift cards by responding to a 10-minute long survey online.
The survey is basically a questionnaire that could help Robinhood improve its service. In return, the participants get a chance to win $5 Amazon gift card. However, you need to complete the survey to be eligible for the card.
The Bottom Line
You can not purchase the card neither can you fund the account using any other gift card. However, users can obtain Amazon gift cards that Robinhood offers. Moreover, they can gift a friend the power of purchasing stock using cash.
Considering how quickly gift card use is growing, we are hopeful that Robinhood would soon introduce the feature. The article would then be updated accordingly so stay tuned!
Frequently Asked Questions About Robinhood Gift Card
Can I gift stocks on Robinhood to a friend?
Although it is not possible to buy a card for friends on this platform, you can refer the account and receive $500 in tocks of Robinhood account.
Does Robinhood allow you to share funds or stocks with others?
You can completely or partially share your Robinhood stocks with other accounts via Automated Customer Account Transfer Service. If you transfer all the stocks, your account will be closed automatically.
Jamie Johnson is very enthusiastic Kansas City – based freelance writer, and her core expertise are finance and insurance. She has been endorsed on several personal finance, insurance & business website to share her thoughts. Her publications can be found on famous sites like Bankrate, The Balance, Business Insider, Chamber of Commerce and many others.
From many years, she served more than 10,000 hours of research and writing to more than 2000 articles related to personal finance, credit building, mortgages, and personal and student loans.