Consumer complaint received 2020-11-09
Company: ROBINHOOD MARKETS INC.
State: NV
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
I am at a loss of words. I really have tried explaining this weeks ago toXX/XX/XXXX and XX/XX/XXXX I realize I still am waiting on results from those queries, I am just so passionate about the level of wrong being committed by ROBINHOOD LLC and XXXX. 


Simply put I can provide proof in the way of a bank statement from the time of the transaction. To a statement from XXXX ambiguous at best. That clearly shows that funds were indeed in my account on the day I requested them using robinhood. 

The week of XX/XX/XXXX XXXX splits. 

Numerous times I emailed their tech support over a number of anomalous behaviors within the app. Not the least of which being BANK DEPOSITS. There is written correspondence of me inquiring about the weird behavior of delayed deposit but I digress. 


My buying power was reversed, this was in XX/XX/2020. I had been using robinhood like an XX/XX/XXXXXXXX to trade for the first time in my life in one of the most aggressively over priced markets in the history of our common era. 

Trash companies like robinhood are TAKING FULL ADVANTAGE OF INVESTORS. ABSOLUTELY XXXX ON INVESTOR CONFIDENCE PROVIDING HORRIBLE FILL PRICES, EXERCISING SPREADS EVEN WITH SPECIFIC INSTRUCTIONS NOT TOO HOLDING FUNDS AND SAVINGS RANSOM FOR MONTHS. WE ARE IN A PANDEMIC. 

WHAT THESE PEOPLE ARE DOING IS CRIMINAL.I Have already made efforts to serve them papers at both their XX/XX/XXXX and XX/XX/XXXX locations. That will take time and i intend to pursue them to the fullest extent of the law. 


I was told as recently as two weeks ago that selling out of my positions and options was the only way I would be able to transfer my account. Furthermore I was instructed by one of their incompetent employees that I have yet to furnish proof of the XXXX dollars in my account ending in XXXX. 

That. Is simply absurd and the furthest thing from the truth. Initially thinking the restriction was caused by the XXXX. something I had never encountered, needless to, say Robinhood was INCREDIBLY LESS THAN ADEQUATE ABOUT EXPLAINING THIS PROCESS. this is what cause me to trigger XXXX in the first place. Trying to make up buying power that should have never been dismissed. 

This effected my investing strategy having to rely on 5 day deposits. 

I sold securities recently purchased, XXXX, XX/XX/XXXX, the XX/XX/XXXX, any one of these could have triggered the pdt I was simply trying to make up the buying power taken wrongly by robinhood. 

I was asked to provide my id a week after all this occurred. I had deposited 1000s into the account and at one time had an account value of XXXX pre split and they ask me for ID after restricting my account. 

I have contacted both XXXXXX/XX/XXXX and robinhood numerous times to absolutely no effect what so ever. I will be providing not only the documentation furnished to me by the bank, but also making it known that being a caretaker for elderly family has been greatly stressed because of this and now that things have passed I seek to pursue this to the absolute fullest extent of the law. I am aware of their LLC status but this simply will not stand and I feel many people are unaware to which the extent they lack customer service entirely. 

My name is XXXX XXXX. My email is XXXX XXXX

Company response to consumer: Closed with explanation