Consumer complaint received 2024-06-18
Product: Checking or savings account — Savings account
Issue: Managing an account — Problem using a debit or ATM card
Company: ROBINHOOD MARKETS INC. (GA)

On XX/XX/XXXX my wallet and cell phone were stolen. I was XXXX  at a bar and something slipped XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. I had a second device with me and logged into my banking accounts and saw massive unauthorized transactions. The thief was able to get into my phone and into my banking applications. My assumption is they saw me enter my password into my phone. Once in, they were able to reset passwords and ignore fraud alerts. 

They were able to get into my Robinhood account and add their own banking account and transferred {$5000.00} out. I reported this to Robinhood immediately and had my account locked. Unfortunately i was travelling for XXXX XXXX  on my honeymoon with limited access to resolve the issues. I called a multiple times and was in email contact with Robinhood and told them my situation and they said it was okay and they would not reactive the account and leave the case open. However, they unlocked my account which could have opened it back to the thieves again, thankfully i was able to get Robinhood to relock it again before anything happened. 

They also continue to tell me the investigation would remain open until i submitted the police report, which took me a long time to get. However, a month they closed the case as not eligible because my account was not compromised. When i called, they said it was because they do not leave cases open. I told them to review their emails and call logs with me, i have been in contact and throughout they said it was okay and the case would not close. But then it did. 

So they reopened it as an appeal and within a few days closed it again and said " no new evidence was provided so the decision holds ''. I didn't have the police report yet, and was again told it would not close but they did anyway. Then i was told it can only be appealed once and they would not look at the case again. The representative hung up the phone on me while i was trying to explain the situation to them! I called back immediately and talk to someone else who talk to the investigation team. They agreed to look at it again once i submitted the police report because they agreed it should not have been closed. 

I submitted the police report and they replied within a few hours saying they would not look at the case and the decision is final. I call and spoke to someone again and explained, they said there is no record of anyone saying they would look at it again and they wont. I gave them the case number XXXX from XXXX who told me they would. The representative then agreed and said they would escalate it. I never heard back. I called a week later and that person said they would escalate. I have not heard back. I have been sending emails and still no response. They are ignoring me requests and not following through with what they said they would do. 

Based on their own guidelines for is cover, this unauthorized transaction should be covered. All i needed to do was supply the police report, which i have done. They are blaming now on the fact that a case can not be appealed, but they closed the cases without the proper documentation and they told me they would not.