Consumer complaint received 2024-12-19 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Other transaction problem — 
Company: ROBINHOOD MARKETS INC.
State: AZ

Complaint narrative:
Robinhood Markets ( RH ) : XX/XX/year> Just as XXXX if not millions of other customers or investors have had their accounts restricted, and locked out because of potential security breaches, or concerns, they have blocked every one of my attempts to correct any deficiency in the security restriction that they noted. I invested {$20000.00} to purchase Cryptocurrency ( XXXX ) via a bank ACH on XX/XX/year> and have yet to have my account freed up to send, receive, sell or send back to my original bank account, The funds are in limbo in their maze of countless loops that end up nowhere. This restriction of my account actually began on XX/XX/year> They have sent me on " wild-goose chases '' to obfuscate, confuse, and dead-end any potential solution. I have waited on hold in the queue for 6, 8 and up to 16 hours only to be asked questions that were erroneous and not even related to my profile. They even hung up on me as soon as we began a conversation with me. Someone, perhaps a Robinhood employee changed my profile cell phone number which has a Arizona pre-fix to a XXXX Massachusetts cell phone number. They claim they had attempted to contact me but of course, it was the Massachusetts number and not my correct cell number! I have received Robo-emails that do nothing to put me in contact with any " real live person! '' The 2 times that I have had verbal contact with their " offshore '' representatives, they said they would send the info taken on the phone question session and would send an answer back to me by phone or email. Of course, they responded by message in the Robinhood App that they could not reach me. I have provided my correct info and profile nearly 50 times and their response is either nothing at all or some non-relevant response to the restriction or problems they cite on my account! I have validated my identity with a passport, driver 's license, selfie photos, computer camera pictures, social security number, birthdate, Bank account verification, and even said they would deposit a small amount into my bank accounts to verify if those accounts were genuinely mine. The " restriction '' on my account was under the guise of security issue. 


I have since had to close the bank accounts down since the reps may or may not have been from Robinhood. These reps most likely would have cleared my accounts out for their own gain and my loss! The nightmare continues with being locked out of their " dead-end looped '' Robinhood Phone App. Now since my original accounts have changed to different numbers, they will not transfer back to a different account number. Every possible " dead-lock '' and means of connection to correct the problems that Robinhood has created becomes more and more confused and leads to nowhere by design. According to Financial News, it appears that Robinhood company has to pay back funds that XXXX ( XXXX  XXXX collapse ) has invested into Robinhood. The lack of contact and worst communication with Robinhood representatives by emails, Apps, texts messaging have clearly intentionally disallowed/blocked the rights of investors the right to access their funds which is one of many infractions according to the SEC, XXXX, CFPB, FTC and many other government Federal and state laws. Robinhood from the beginning has manipulated and embezzled investor funds. This is evidenced by Robinhood not contesting charges on many cases, but by merely paying the settlements to the courts. 
XX/XX/year> : At this time, after nearly 92 hours of waiting on hold, showing my passport, drivers license, providing the last 4 digits of my social security number, birthdate, computer camera photos, cell phone phone selfie photos, multiple emails and new emails, countless other methods to prove my identity, RH permitted access to my RH Account and the hold restrictions were lifted. and I succeeded by providing to them a new email and to change my profile to my correct cell number. 
This took nearly 2 months to accomplish! 

The RH employees signed me up for their $ XXXX month Robinhood XXXX plan which I did not authorize. My account went negative into a deficit so they sold some of my XXXX  shares to cover that charge. I could not reach anyone in RH to speak to them, so they just stole the {$5.00} from my account on a fake charge. I finally had access to my account, so I sold the XXXX XXXX at basically a break-even number. 

XXXX XXXX XXXX XXXX Now, a new roadblock to prevent access to my account began when I chose the transfer back to my original account that funded the RH account, the transfer was reversed not once but three times for the reason of " Invalid Account Number. '' I have visited XXXX XXXX  everyday for a week and the very knowledgeable banker said that there was nothing blocking the account from receiving the ACH transfer into my account. The XXXX XXXX  has kept open the original account number open to make this transfer, so there is no hindrance on the part of the XXXX XXXX  side. 
At this time, I have been waiting in a chat and for a call back to solve this but RH does not respond back and continues to stall and block any communication to repair their obfuscation and " Ponzi Scheme '' system to permanently retain my funds. The RH Company hides behind " Ebots '' to avoid responsibility in order to embezzle the funds from hard-working consumers and XXXX  citizens like myself. This experience with RH is now causing very serious health issues for me. I will soon be onto the third month that the RH Company has blocked my money by restricting access ( placing a permanent hold ) to my account. This experience has become commonplace with thousands of customers that have had the horrible nightmare experience of trying to do business with this Robinhood Company.

Company response to consumer: Closed with explanation