Consumer complaint received 2025-01-13 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Other transaction problem — 
Company: ROBINHOOD MARKETS INC.
State: IA

Complaint narrative:
My Name : XXXX XXXX 

Complaint against : Company Name : Robinhood Financial LLC Company Address : XXXX XXXX XXXX, XXXX XXXX, CA XXXX, XXXX Website : robinhood.com Date of Complaint : XXXX Subject : Unjustified Account Restriction and Inability to Access Funds Complaint Details : I am filing a complaint against Robinhood Financial LLC due to an unjustified account restriction and their complete failure to provide customer support, resulting in my inability to access over {$30000.00} of my funds. 

In the last months of XXXX, I opened a brokerage account with Robinhood. As of [ Date ], my account holds approximately : {$1200.00} in a Roth IRA {$20000.00} in XXXX {$11000.00} in cash When I attempted to withdraw my Bitcoin, I inadvertently exceeded a transaction limit, which triggered an account restriction for " suspicious activity. '' This restriction has effectively frozen all of my assets held with Robinhood.

Since the restriction was placed, I have made numerous attempts to contact Robinhood customer support through various channels, including : Multiple phone calls, often waiting on hold for extended periods with no response. 
Numerous emails, none of which have received a reply. 
I managed to speak with a representative only once. During this conversation, they requested a bank account closure statement from an account that was closed four months prior and has no connection to my current Robinhood account or funding sources. Furthermore, they are also requesting a bank statement from the same account. Robinhood 's platform only allows for the upload of one document per account, making it impossible for me to provide both the requested documents. 

Because I can not contact Robinhood and can not fulfill their unreasonable document request due to their system limitations, I am unable to access any of my funds. Robinhood has effectively taken control of my money, and their lack of communication and support has left me with no recourse. They will not even allow me to withdraw my cash balance directly to my current bank account. 

This situation has caused me significant financial and emotional distress. I am requesting the CFPB to investigate Robinhood 's practices, specifically their : Unjustified account restrictions.

Lack of adequate customer support.

Unreasonable document requests.

System limitations preventing users from complying with requests.

Holding of customer funds without proper justification.

I have attached my Robinhood account summary, my bank account closure statement and last bank account statement, a screenshot of a failed cash withdraw, and my user interface, which denies me the ability to upload the documents requested. 

I request the CFPB to intervene and assist in resolving this matter so I can regain access to my funds. 

Desired Resolution : Restitution of fees incurred in the withdrawal process Immediate removal of the account restriction.

Release of all my funds held by Robinhood.

An investigation into Robinhood 's customer support practices. 

Thank you, XXXX XXXX

Company response to consumer: Closed with explanation