Consumer complaint received 2023-05-26
Company: ROBINHOOD MARKETS INC.
State: FL
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Other transaction problem

Complaint:
XX/XX/XXXX i made 3 deposits 1 payment of {$1000.00} 2nd payment of {$48000.00} and the 3rd payment was of {$25000.00} ... .the 3rd payment was a mistake but in their app it said it was irreversible. i only wanted {$50000.00} on their platform so informed my bank i even reached out to inform robinhood of the mistake i still wanted a even amount of funds of their platform knowing the {$25000.00} would be removed so i tried to deposit another {$1000.00} it failed then i tried to move money around on the platform and couldn't so im confused so i try to withdraw {$5000.00} to move it to my brokerage failed so during this whole process im contacting to support informing them on what's going on the XX/XX/XXXX i was able to finally move funds around still apprehensive i wanted to make sure that everything was functioning i also had a 2nd account that's been connected to the robinhood platform since i opened a year ago i did 2 transactions 1 went through the other failed but i wasnt worried so XX/XX/XXXX i transferred money around within the platform everything was fine i even opened a robinhood wallet and put funds. Then my bank completed the reversal of the {$25000.00} which i already knew would happen and contacted robinhood before hand regarding it. They made me reverify my account resubmit my id face recognition everything so for about a week they gave me the run around with that saying they didn't receive my i.d which is false because you have to submit your i.d before you can move on and do face recognition all the while im doing all the reaching out opening multiple chats contacting them with little to no response. Then it was i need to reverify the bank account is mine and my bank statement of the transaction of funds which i submitted all of that. My account was unlocked for maybe 24hrs then locked again so i contacted them again which i will provide all my ss of emails and chats that i initiated i wasn't getting a response from them so eventually weeks later i received a email about going against their terms and conditions and the closing of my account. I read their terms and condition and asked how was i in violation no response. So with that being said the email said all funds will be returned after remediation that was XX/XX/XXXX and ever since then its been a merry go round of me contacting them every single day and them sending me automated emails and customer service reps in the chat automatically just closing the chat and sending it to a " email '' even me calling didnt go through. On XX/XX/XXXX i threatened legal action because they were ignoring me at this point. So XX/XX/XXXX they manually from their end attempted to withdraw from my account which i would have let it process but i notice they tried to keep {$1000.00} i then tried to withdraw my own money and they wouldn't allow me. i sent another email stating how is your platform trying to keep my money no response .which on XX/XX/XXXX they responded with " You can serve Robinhood markets in including all affiliates with a subpoena, search warrant, court order, or legal process through their registered agent ( email attached below ) and then i received multiple other emails from the previous chats as well that they were handling the situation. so i waited XX/XX/XXXX i filed a complaint with the XXXX because again no response email phone chat nothing. they responded to the XXXX to go through email and i declined that because i knew it would be the same thing as before and informed them to keep it on the XXXX  platform but i eventually gave in and went back to email. they sent another generic email stating they are unable to maintain my robinhood account which back in XXXX i already said i didn't care for they platform just give me my money back. Then they told me to dispute it through my bank which is why we are in this predicament in the 1st place. So i emailed them XX/XX/XXXX how they went against their own terms and conditions and against my rights i will be pursuing this to fullest extent. So on my XX/XX/XXXX i seen activity on the platform with 2 failed withdraw attempts that i didn't initiate and then 2 more withdrawals that i canceled but all for the full amount in my account i have since changed account numbers and banks because i dont trust this platform at all they still have my funds inside and as XX/XX/XXXX ss of the email a notification a card has been shipped how is that possible if the account is closed. i just want my money. In response to that card being shipped out to where ever i bet they jusy gone say its a glitch im so sick of this company! i have plenty of more SS if needed.

Company response to consumer: Closed with explanation