Consumer complaint received 2025-05-20 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: ROBINHOOD MARKETS INC.
State: OH

Complaint narrative:
Regarding the case complaint XXXX XXXX company contacted me as they promised XX/XX/XXXX and below is what they said Thank you for bringing this matter to our attention and please accept our sincere apology for any inconvenience this matter may have caused you. At XXXX, we pride ourselves in customer satisfaction. We would like to let you know that we take customer feedback very seriously and we are always striving to improve our services. Our staff diligently looked into your concerns received in your CFPB complaint. Please see below for more details. 
Upon review, an XXXX brokerage account was created under your credentials on XX/XX/year>, followed by a XXXX account on XX/XX/year>. On XX/XX/year>, a routine review of your accounts was conducted, during which temporary restrictions were placed. These restrictions removed access to crypto transfers. Additional temporary restrictions were placed on XX/XX/year>, blocking account transfers, deposits, and withdrawals, and limiting trading activity in the accounts to position-closing only. 
Throughout the review, the Investigations team collected additional information, including requests for bank statements, images of the front and back of your government-issued ID, and three-point selfies for verification. On XX/XX/year>, the Investigations team concluded their review and determined that we could no longer support you as a XXXX customer. 
The determination was confirmed in cases XXXX, XXXX, and XXXX on XX/XX/year>. XXXX reserves the right to close accounts as outlined in the XXXX XXXX XXXX, and XXXX XXXX XXXX XXXX. 
This decision was reaffirmed on XX/XX/year>, in cases XXXX and XXXX, as well. 
XXXX XXXX indicated that you would be notified whenever resolution could be reached regarding the funds, but that a timeline could not be provided. Beginning on XX/XX/year>, our support teams closed open positions within your accounts and transferred the remaining assets from your XXXX account into your XXXX account. 
return them to their original source. At this time, XXXX is continuing to work with those institutions to ensure the deposited funds are returned appropriately. It is important to note that this process could take up to 120 days depending on the bank. Once these funds have been successfully returned to their original source, XXXX will work to disburse any remaining balance upon the completion of this process, and your XXXX account will be scheduled for deactivation. 
We hope this clears up any remaining confusion around your recent account restrictions. 
Thank you for giving us the opportunity to serve you. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at XXXX om. 
Sincerely, XXXX XXXX XXXX ID : XXXX. 




, XXXX creating this case complaint just to aid for help from you guys for them to understand to work this out in a timely manner according to them my account has been restricted from XX/XX/XXXX to this moment which is 41 days of helding my funds XXXX which has caused potential delay in my business and they are saying in there information that it will take 120 days to process a refund first I want them to understand that theres a XXXX XXXX account linked to my Robinhood account thats where I would be receiving my refund and secondly they should consider the time being taken away from me and the damage and frustration this has caused for me to be fair and work in a timely manner to get me back my funds asap Im tired and frustrated and I look forward to you guys sorting this out for me thank you

Company response to consumer: Closed with explanation