Consumer complaint received 2025-06-13 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Deposits and withdrawals
Company: ROBINHOOD MARKETS INC.
State: WA

Complaint narrative:
Formal Complaint Against Robinhood Financial LLC Case ID : XXXX On XX/XX/year>, Robinhood Financial LLC sent me a brief email stating that my account would be closed due to a review of my account, including any documents I had provided. However, I was never asked to provide any documents at any point during this process.

Despite multiple attempts to contact Robinhood for clarification, the only responses I received were automated, identical messages reiterating the original closure notice. Robinhood does not maintain a functional customer support phone line, and their app redirects all inquiries back to the same unresponsive email support. 

On XX/XX/year>, without any notice, consent, or authorization, Robinhood liquidated all of my stock and cryptocurrency holdings, totaling approximately XXXX XXXXXXXXwhich represents my entire retirement savings. This unauthorized action created a significant and involuntary taxable event. I was neither notified beforehand nor given an opportunity to intervene.

After nearly six weeks of silence, I received an email stating that my account was no longer restricted. However, the account is now fully deactivated. I am unable to access or withdraw my funds. Although Robinhood claims the funds will be returned to the originating bank account, no such transfer has occurred, and the platform now shows no available assets. There is no explanation, no visible cash balance, and no withdrawal option.

Robinhood has not provided any substantive communication or resolution. Their failure to respond, the unauthorized liquidation of assets, and the ongoing withholding of my funds constitute not only gross negligence but potentially unlawful behavior, including misappropriation of customer assets.

I request immediate regulatory intervention to compel Robinhood to : 1. Release and return the full balance of my assets.

2. Provide a complete, written explanation of all actions taken.

3. Address the financial and tax consequences of their unauthorized liquidation of my investments.

This situation is deeply distressing and financially damaging. I respectfully request the CFPBs urgent attention.Formal Complaint Against Robinhood Financial LLC Case ID : XXXX On XX/XX/year>, Robinhood Financial LLC sent me a brief email stating that my account would be closed due to a review of my account, including any documents I had provided. However, I was never asked to provide any documents at any point during this process.

Despite multiple attempts to contact Robinhood for clarification, the only responses I received were automated, identical messages reiterating the original closure notice. Robinhood does not maintain a functional customer support phone line, and their app redirects all inquiries back to the same unresponsive email support. 

On XX/XX/year>, without any notice, consent, or authorization, Robinhood liquidated all of my stock and cryptocurrency holdings, totaling approximately XXXX XXXXXXXXwhich represents my entire retirement savings. This unauthorized action created a significant and involuntary taxable event. I was neither notified beforehand nor given an opportunity to intervene. After nearly six weeks of silence, I received an email stating that my account was no longer restricted. However, the account is now fully deactivated. I am unable to access or withdraw my funds. Although
Robinhood claims the funds will be returned to the originating bank account, no such transfer has occurred, and the platform now shows no available assets. There is no explanation, no visible cash balance, and no withdrawal option.

Robinhood has not provided any substantive communication or resolution. Their failure to respond, the unauthorized liquidation of assets, and the ongoing withholding of my funds constitute not only gross negligence but potentially unlawful behavior, including misappropriation of customer assets.

I request immediate regulatory intervention to compel Robinhood to : 1. Release and return the full balance of my assets.

2. Provide a complete, written explanation of all actions taken.

3. Address the financial and tax consequences of their unauthorized liquidation of my investments.

This situation is deeply distressing and financially damaging. I respectfully request the CFPBs urgent attention.

I'm unable to upload screenshots on this website.

Company response to consumer: Closed with explanation