Consumer complaint received 2024-09-14
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Problem accessing account
Company: ROBINHOOD MARKETS INC. (KS)

To Whom It May Concern I am submitting a formal complaint against Robinhood, a trading organization, due to their unjustified actions that have resulted in my account being locked without explanation. 

Summary of the Issue My Robinhood account ( Individual Account Number : XXXX and Spending Account Number : XXXX ) has been locked, and I have been denied access to my funds and investments. Despite numerous attempts to resolve the issue, I was only able to speak with a representative after XXXX XXXX, who asked intrusive and irrelevant questions. I have been informed that my account is " under review, '' but I have not been provided with any reason or expected outcome.

Expected Resolution I demand that my account be unlocked, and I be allowed to : 1. Transfer or liquidate my cryptocurrency holdings 2. Sell any investment positions 3. Transfer all funds to my bank account Context and Account Information My personal details are as follows : Name : XXXX XXXX Phone Number : XXXX Email Address : XXXX Address : XXXX XXXX XXXX, XXXXXXXX XXXX XXXXXXXX Date of Birth : XX/XX/48 My Robinhood account information is : Name : XXXX XXXX Email : XXXX Phone : XXXX I have submitted Pictures of my XXXX ( XXXX Drivers License )  to RobinHood I have submitted pictures of my face to Robinhood ( left, right, and front ) They have my DOB and SS # on file There is 2 factor authentication enabled on the account. Each time you transfer money IN OR OUT of the account, I must supply the code from the authenticator app. 
Account Numbers : XXXX XXXX XXXX XXXX XXXX Account Number : XXXXXXXX XXXX XXXX XXXX XXXX XXXX Account Number : XXXX Detailed Account of Events Leading to Complaint As a Robinhood customer, I have utilized various features and products offered by the platform, including : 1. Investment Account : Buying and selling stocks 2. Spending Account : Transferring cash into the account and using the debit card for bills and shopping 3. Cryptocurrency : Buying, selling, and transferring cryptocurrency Incident on XX/XX/XXXX On XX/XX/XXXX, I logged into my account to review my Spending Account activity. I noticed two pending charges for the same transaction ( XXXX XXXX for {$290.00} ). To avoid duplicate charges, I confirmed one transaction and declined the other. However, this action triggered an unexpected response from the system, and I was locked out of my account. 

Lack of Communication and Support For XXXX XXXX, I was unable to access my account or receive any updates on the status of the issue. On XX/XX/XXXX, I received a notification stating that the matter would be addressed on XX/XX/XXXX. After significant effort, I managed to schedule a phone call with Robinhood 's support team. 

Concerns with Support Interaction During the phone call, I spoke with a representative from a foreign country ( believed to be the XXXX ). Unfortunately, I struggled to understand her due to a strong accent and my own hearing difficulties. The representative asked a series of questions that I deemed intrusive and irrelevant to the issue at hand, including : 1. Why do I own cryptocurrency?

2. Who am I transferring cryptocurrency to?

3. Why don't I simply pay them in cash?

4. What is my level of knowledge about cryptocurrency ( beginner or otherwise )? 

Ongoing Issues and Loss of Confidence As of XX/XX/XXXX, my account remains locked, pending an " investigation. '' However, I have lost confidence in Robinhood 's ability to manage my account and protect my interests. I request that my account be unlocked, and I be allowed to : Transfer all funds out of the account Sell all cryptocurrency holdings Close my account Concerns about Robinhood 's Cryptocurrency  Services I question why Robinhood offers cryptocurrency services if they are not willing to allow customers to use them freely. I believe it is essential for Robinhood to clarify their policies and procedures regarding cryptocurrency transactions to avoid similar incidents in the future. 

Additional Concerns As a XXXX XXXX, I am concerned that Robinhood 's actions may constitute XXXX XXXX. If this matter is not resolved promptly, I will be forced to report it to the relevant authorities. 

Please investigate this matter urgently, and I appreciate your attention to this complaint. 
Sincerely, XXXX XXXX