Consumer complaint received 2024-01-19 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: ROBINHOOD MARKETS INC.
State: FL

Complaint narrative:
On XX/XX/2023 someone stole my phone and hacked into it changing all my passwords. I immediately reported the unauthorized transactions to Robinhood though they took hours to call me back after I requested the phone call and contact them through the app and social media without success. After I was able to report the unauthorized transactions to a customer service agent over the phone I have also submitted the police report and explained to them that the thieves had added their debit card through transfer my money from my brokerage saving account to their card. In fact on XX/XX/XXXX the thieves added their card with their information and change the password on my account. They used Robinhood instant transfer feature to transfer the money immediately. In all my years of using Robinhood I have never once used the instant transfer feature, and the account they stole money from was saving account were I was putting money on a weekly basis. The customer service agent confirmed what I told him and initiated the investigation to retrieve my money. The investigation kept getting pushed back as Robinhood kept changing the final review dates. I kept following up with Robinhood both through phone and email as none of their agent seem to understand my situation. Every time I called or emailed, they gave me a new ID number which created confusion. I requested multiple times to be connected to a manager or a supervisor without success. After over two weeks they reached out to me stating they did not find any unauthorized transactions. I reached out to them again to have an explanation and instead of telling how they came with the decision they opened another investigation. A manager named XXXX finally reached out to me by email where I explained to him what happened and attached to the emails also banks and credit cards letters where it was stated they had found unauthorized transactions on the same date ( XX/XX/2023 ) and because of these transactions they froze my accounts to safeguard them. After this email XXXX never replied but instead three other customer service agents started replying without answering my questions as I had also asked them to provide the details of the thieves debit card to the authorities or to me. After another two weeks the investigation again and gave me the same decision that no unauthorized was detected. I am still trying to contact them to talk to a manager but they are refusing to connect me. I have gone to the police to try to subpoena the account used to steal my money however they are requiring full card number and bank which I do not have. I have asked Robinhood to send me that information since to complete the transfers the thieves must had to put all their information but Robinhood is refusing to provide me with the thieves details. the lack of cooperation and assistance from Robinhood has left me in a distressing and vulnerable position. I firmly believe that your intervention and expertise are crucial in remedying this situation and ensuring the recovery of the stolen funds. I am prepared to provide all relevant documentation, including transaction records, emails and any other information necessary to facilitate your investigation and subsequent actions. Your prompt attention to this matter would be invaluable in alleviating the financial and emotional strain caused by this incident. Thank you for your attention and consideration.

Company response to consumer: Closed with explanation