Consumer complaint received 2024-10-04
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: ROBINHOOD MARKETS INC. (KY)

Robinhood is what the issue is with XX/XX/year> I deposited {$7300.00} from my savings account into robinhood. 

XX/XX/XXXX I withdrew {$2000.00} to go back into my savings account and I moved {$3000.00} into the robinhood checking spend account. I left the remainder : {$2300.00} in thier general investment account so it accumulates interest. 

This is when everything started. The account shut down and everything froze. I called them instantly and spoke to customer support. I specifically asked them why this happened and they stated that further documentation was needed from me and it would be emailed or notified in the app. After a day the app did not work to submit documentation. I had to call them again and provoke them to find solution. They then said I could submit docs via email. I sumbitted my license that matches my physical address on file and took a selfie. I was then notified by them that I would have updates on XX/XX/year> ( why would this take multiple days? ) XX/XX/XXXX comes, my account is then pushed back to XX/XX/XXXX with with no explanation, warning, or emails. I call them again and demand to speak to a supervisor or the " specialist team '' they said who is handling my account. They said, " there is no one for you to talk to and that their supervisors do not take phone calls and their specialist team does not take phone calls. '' I wait until XX/XX/XXXX. XXXX of XX/XX/XXXX I call them and they say the exact same things they did days in past and the " Review date '' is now pushed to XX/XX/XXXX with no reason or communication why via phone, email, or in the app. 

On this call of morning of XX/XX/XXXX they begin asking me questions again. I was not notified of further information needed via email, call, or robinhood mobile application. I answered their questions about past XXXX XXXX transfers I had bought in their account MONTHS ago and transferred to my personal cold wallet. She said no other questions are needed at this time and I will be notified via phone or email. I asked which one and by when she said she did not know and that it was up to the review team. 

I am never notified and I keep checking the application. The app says now, " We are reviewing your case. We'll notify you by XX/XX/year>. 

I then call them again and I took detailed notes and asked very specific questions. The call is as follows : they verify my personal info- they say its being reviewed - They cant transfer me- they said there is no update right now. Its been passed to account. 
- I asked again in clear detail why account is frozen - She said she can not provide specific details and I will be updated after their review team completes review- I asked to be transferred to the review team - She said we do not have access to them and can not do that - I stated I filled legal complaint with with CFPB- I then clarified again by saying, its XX/XX/year> at XXXX est you are telling me you 1 ) can not provide me with why my account is restricted until the review is completed and 2 ) will not directly tell me next steps to resolve the issue, is that correct? She said yes that is correct - Call was concluded. 

The app still says " we are reviewing your case. We'll notify you by XX/XX/year>. And I am now looking to take legal action starting with CFPB complaint on XX/XX/year> at XXXXXXXX XXXX est.