Consumer complaint received 2023-10-24
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Money was not available when promised — 
Company: ROBINHOOD MARKETS INC. (IL)

Case ID : XXXX New Account at Robinhood initiated XXXX XXXX XXXX Bonus stock awarded XXXX shares of XXXX  Value {$5.00} cost-free, XXXX XXXX XXXX  Amount Deposited from XXXX checking account XXXX, {$24000.00} Status completed XXXX XXXX XXXX XXXX XXXX XXXX : XXXX XXXX XXXX {$24000.00} XXXX XXXX  at {$26000.00} XXXX XXXX. Status Filled. Entered Amount {$24000.00}. Filled XX/XX/, XXXXXXXX XXXX  XXXX. Filled Quantity XXXX XXXX at {$26000.00} Total Notional {$24000.00} XX/XX/ XXXX XXXX  Sell {$24000.00} XXXX XXXX at {$26000.00} Type Market Sell Submitted XX/XX/ Status Filled Entered Amount {$24000.00} Filled XXXX XXXX XXXX, XXXX XXXX  XXXX Filled Quantity XXXX XXXX at {$26000.00} Total Notional {$24000.00} Withdrawable Cash {$24000.00} XX/XX/ We have placed a temporary restriction on your account for the security and protection of Robinhood and our customers. We need some more information from you before we can lift your accounts restriction. 


There should be an Action Required card displayed in your app. Please tap its prompt to upload the following documentation : A live selfie photo to help us verify your identity. There will be 3 photo requests for different angles ( left, center, and right ) Your face should be clearly visible and unobscured in all photos The photos should only include your head and shoulders in front of a solid colored background Remove any hats or accessories, and ensure your face is fully visible A recent PDF bank statement for account ending in XXXX. Please select the PDF Upload option when prompted. A photo of your bank statement will not be accepted. 


Dated within the last 60 days from a bank account linked to your Robinhood account. 

The statement must display your name, the banks name, the last four of your bank account number, and your residential address. 

If in case you don't see the prompt in the app, kindly upload these documents here : For a live selfie photo, please use this link. 
For bank statements, you upload it here via secure portal. 
Aside from these documents we need, wed like to speak with you over the phone. Please request a phone call in your Robinhood account for us to resolve the issue on your account. 


Please call us within the next 3 business days between XXXX XXXX  and XXXX XXXX, local time, Monday through Friday, so we can assist you as quickly as possible. 


When calling in, please reference the Case ID located at the bottom-left corner of this email. 


You can call us at XXXX while your support case is open, or you can call us through the Robinhood app by following these steps : Select Account ( person icon ) Depending on your device, select Settings ( gear icon ) or Menu ( 3 bars ) Select Robinhood Support Select Contact us 24/7 Select Account management Select Account security Select the most relevant topic to your situation Select Contact Us and choose the phone option We look forward to speaking with you soon, so we can resolve this for you. Well reach out to you if any additional information is required. Please check out our Help Center for more information on the types of documents we can accept. Were always here to help and thank you for being part of Robinhood. 


Sincerely, XXXX at Robinhood Support XX/XX/ XXXX SELL Status Filled Entered Quantity XXXX Filled XX/XX/2023 at XXXXXXXX XXXX  XXXX Filled Quantity XXXX shares at {$240.00} Filled Notional {$6.00} XXXX XXXXXXXX XXXX Hi XXXX, Thank you for giving us this information. My name is XXXX with Robinhood Support. I'm reaching out for an update on the review on your account. 

After reviewing your Robinhood account and support cases we found activity that violates our Customer Agreement. We regret to inform you that after careful consideration, Robinhood will no longer support your account. We reserve the right to this as part of our terms and conditions which you can read about more here. 


If there are any funds eligible for disbursement after our remediation process occurs, we will return them to you. If there are funds present that are not eligible for disbursement, we will attempt to return them to the original depositing source where available. It may take 15 business days to complete the remediation process. Please keep your email or line open for any update from us regarding the return of your funds. 


Please note that any funds that continue to arrive into your Robinhood account will be automatically rejected and sent back to the sender. 

? We apologize for the delay you encounter during this review process. We appreciate that you have been very patient and cooperative. 

We want to help where and whenever we can. For clarification or questions, feel free to reply to this email or you may also check out our Help Center article for additional information. We're here to help. 


Sincerely, XXXX at Robinhood Support Case ID : XXXX AFTER THIS date my inquiries receive the same response. Your account is restricted and under review. Thanks for your patience. Multiple inquires, multiple response.