Consumer complaint received 2025-06-17 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Managing, opening, or closing your mobile wallet account — 
Company: ROBINHOOD MARKETS INC.
State: AZ

Complaint narrative:
On XX/XX/year> at XXXX XXXX  ET, I sold XXXX on my account totaling to {$1900.00} in cash in my wallet. Shortly after, I tried to withdraw and my account was saying that the withdraw wasn't able to be made. I think received an email shortly after as well saying that restrictions have been placed on my account which entailed " All Accounts - Withdrawals Locked ''. 

I contacted support and the reply I received was unspecific and generic ( XX/XX/year> at XXXXXXXX XXXX  ET ) : " Hi XXXX, Thank you for reaching out this is XXXX from Robinhood Support. I hope you're well and safe! 

Were still reviewing your account. We may request documents in the app during our review, so please continue to monitor your app and reply to any requests. 

Youll also hear from us by phone or email soon after weve completed the review. If we need any additional documents or have status updates well send updates to the email or call the phone number on your account. 

Thank you for your patience! 

Sincerely, XXXX XXXX ID : XXXX '' Then on XX/XX/year>XXXX XXXX XXXX XXXX ET, I receive an email from Robinhood saying that they are closing my account which includes : " We will begin closing your Robinhood account ( s ). Youll be removed from features you had access to. Any open positions will be liquidated. If any of your accounts are in a negative balance, well apply your existing funds on Robinhood to cover the balance. Any remaining funds may be returned based on eligibility. You might receive additional communications or information requests from us during this timeplease keep a lookout for these. '' Then 8 minutes later, I receive an email again saying that " Action is required to lift restrictions ''. A list followed of what restrictions were on my account, but not how to resolve and why it was being restricted. Here was the message : " XXXX XXXX, You currently have restrictions placed on your Robinhood account. Here are the details of the restrictions : All Accounts - Position close only : You can no longer open positions. You can still close positions that you currently own. 
All Accounts - Deposits locked : You can no longer deposit money into your account. 
All Accounts - Withdrawals locked : You can no longer withdraw money from your account. 
Roth IRA - Withdrawals locked : You can no longer withdraw money from your account by bank transfers.

Individual - Withdrawals locked : You can no longer withdraw money from your account by bank transfers.

Crypto - Withdrawals locked : You can no longer withdraw crypto from your crypto account.

The Robinhood team ''. 

3 days later on XX/XX/XXXX at XXXX XXXX, orders for a stock I had in XXXX XXXX executed and sold. And on that same day at XXXX XXXX, Robinhood initiates a withdrawal on my account to my personal bank account. The amount was only {$210.00} and not {$1900.00} : " Robinhood Withdrawal Initiated Hi XXXX, Your request to withdraw {$210.00} from your individual account to your XXXX XXXXXXXX Banking account ending in XXXX XXXX XXXX XXXX XXXXXXXX has been received. This transfer will reflect in your bank account within a few business days, depending on your bank. 
If you did not request this change, please contact us immediately. 
The Robinhood team ''. 

I reached out to support again via email on Monday XX/XX/XXXX at XXXX ET about why my balance disappeared with the rest of my money not being sent to my account and this was the same generic response with not update : " Hello XXXX XXXX Thank you for reaching out. My name is XXXX with Robinhood Support and I hope you are doing well. 

At this time, were still reviewing your account. We XXXX request documents in the app during our review, so please continue to monitor your app and reply to any requests. 

Youll also hear from us by phone or email soon after weve completed the review. If we need any additional documents or have status updates well send updates to the email or call the phone number on your account. 

Thank you for your patience! 

Sincerely, XXXX XXXX ID : XXXX ''. 

The following day at XXXX XXXX, I get an email saying that the {$210.00} withdrawal completed with no status on the remainder of my money and then the following email at XXXX XXXX is that my Individual Account is closed : " Your individual account has been deactivated. 
Hi XXXX, your individual account has been deactivated. You will no longer be able to use your individual account. 

If you have any questions, please visit our Help Center or contact support. 
Sincerely, The Robinhood team ''.

Company response to consumer: Closed with explanation