Consumer complaint received 2024-12-08 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: ROBINHOOD MARKETS INC.
State: MO

Complaint narrative:
On XX/XX/XXXX, I opened a Robinhood account. Between XX/XX/XXXX and XX/XX/XXXX i made three instant deposits/transfers from my checking accounts to my Robinhood account totaling {$1300.00}. On XX/XX/XXXX, I attempted to do make an instant transfer of {$1000.00} to my XXXX account and it didn't show on my available balance on XXXX. I tried to make several more attempts and they never showed up available as purchasing power. Worried that I did something wrong, I looked at my history and it had them as deposits, not instant deposits and they were set to be available in 4-5 days. I cancelled all but one of those deposits and left one {$1000.00} deposit that was set to be available out in 4-5 days. When I got home later in the day, I did some reading on why the instant deposits were not available. In my reading I found that only {$2000.00} were available for instant deposits in the beginning. I then understood that I could use my debit card for instant deposits from then forward. So, I entered my debit card, provided my ID and set of live selfies when prompted. My debit card was then authorized, and I used it to deposit another {$1000.00} into my Robinhood account. Shortly after I purchased another {$250.00} of crypto. After that I turned on two factor authorization using my phone for more protection. Around, XXXX I set up XXXX transfers on the Robinhood app. Around XXXX I sent a small amount of crypto to my secure storage/wallet to make sure there were no hiccups. Shortly after that I attempted to transfer the remainder of my crypto at the time to the same storage wallet. It was declined and within 5 mins my account was restricted. I can genuinely state that I am thankful for security. However, what Robinhood is doing now is nothing less than fraud. When the account was restricted, it asked for a copy of my ID and three more live selfies. I promptly provided the documentation. I received a message on the app stating that Robinhood would review the documents and get back with me by XX/XX/XXXX. On XX/XX/XXXX the date was changed to XX/XX/XXXX. On XX/XX/XXXX it was changed to XX/XX/XXXX and so on. I will provide screenshots of this showing the XXXX giving an example. Every time I attempt to contact support it gives a message to take action. Then at the bottom there is only one response available, " Yes, that's all ''. This is the response i have gotten every day since XX/XX/XXXX, what a joke? I have attempted to request a call back, Robinhoods support system stated it did not recognize my telephone number. I will provide a screen shot of me using two factor authorization and them using my telephone number showing that there is no reason to claim they don't recognize the number. I have reached out on XXXXXXXX XXXX XXXX XXXX  to their support bot, that's been no help. I have received four emails with case numbers ( XXXX, XXXX, XXXX, and XXXX ), when I call the provided number ( XXXX ) in the email, it states they can not verify the case numbers. I have screenshots from the Help bot stating they will call. On XX/XX/XXXX, I received a pop-up text stating that Robinhood had attempted to call me. My phone had never rung, and my call log will prove that through my telephone service provider. I checked my email, and I received an email at XXXX XXXX XXXX stating that Robinhood noticed some unusual activity on my account and tried to call me on XX/XX/XXXX, it gave instructions on how to request a call through the app. I have attempted to do exactly as instructed and there is no option to request a call with their instructions given. On the app and there was a message for me to request a call. When I tap the request a call area it does absolutely nothing. Look Robinhood has had my info for over a week, they have received no less than three copies of my ID both front and back as well as 5 sets of live selfies though the app and computer. They are giving me the run around and I know that this isn't the only occurrence. There are people on social media talking about it. If any other emails, screenshots, records are needed, please let me know. After recently researching Robinhoods past they are known to do shady stuff and are not consumer friendly at all. There is no live or even live email support. I've lost opportunity and money as a result of their actions. I am just thankful that it wasn't a huge sum of money tied up with them and can wait them out to do the right thing. Either by choice or through the legal system as I am filing a complaint with my State AG this week as well. The fact that I am offering copies of all correspondence, screenshots, and making a complaint through a GOVERNMENT WEBSITE should state that I am who I say I am and have nothing to hide. I have yet to be told why my account is restricted other than unusual activity. I am inclined to say it was my attempt to transfer my crypto out of Robinhood. Or it may be that i cancelled some deposits and used my debit card. Again, their communication is leading me to believe that something illegal or shady is going on with Robinhood as I am reading similar occurrences happening more and more and this no communication game is their MO.

Company response to consumer: Closed with explanation