Consumer complaint received 2025-02-04 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: ROBINHOOD MARKETS INC.
State: WI

Complaint narrative:
On XX/XX/XXXX, I transferred {$1200.00} from my individual account to my spending account so that I could make a purchase with my Robinhood debit card on XXXX. The spending account already had around {$100.00} in it so the transfer put my spending account at around {$1300.00} or so ( I can't see the exact amount ). I attempted to make the purchase for {$1300.00} on XXXX, but the purchase failed. This had happened before, so I opened the Robinhood app and confirmed it was me trying to make the purchase. I then tried again but it again failed. I repeated the process XXXX more times but each time the purchase failed. I also attempted to withdraw the money from my spending account to a checking account I have with a different bank, but the withdrawal also failed. The next day, ( XX/XX/XXXX ) I was informed on the robinhood app that my account had been restricted. The app said " Your Robinhood accounts are restricted due to a recent review. Well notify you by XX/XX/XXXX ''. So I waited until XX/XX/XXXX, but on the day, the notification had switched to saying " Your Robinhood accounts are restricted due to a recent review. Well notify you by XX/XX/XXXX. '' So I tapped on Learn More and my only option was to get in a queue for a support call. I did that and even though it said it would connect me within XXXX minutes, I waited for XXXX hours for a call and it never came. Since then, each new day has had the notification in the app saying " Your Robinhood accounts are restricted due to a recent review. Well notify you by x day '' where x day was the next day. On XX/XX/XXXX I think, the app added an option to send an email support request as well as the call request, so I did that and said something to the effect of XXXX, I would like to know why my account is restricted and when the restriction will be removed. '. The next day on XX/XX/XXXX I got an email which said " Hi There, Thank you for reaching out! This is XXXX a member of Robinhood Support team.

Were still reviewing your account. We may request documents in the app during our review, so please continue to monitor your app and reply to any requests. 


Youll also hear from us by phone or email soon after weve completed the review. If we need any additional documents or have status updates well send updates to the email or call the phone number on your account. 


Thank you for your patience! 


Sincerely, XXXX '' Since this email didn't answer either of my questions I responded with " Hi, I would still like to know when I'll have access to my money, every day for the past 4 days the date that I am told I will be informed of the status of my account has changed to the next day. I don't like not having access to my money. '' They reply : " XXXX XXXX, Thank you for reaching out! 


Were still reviewing your account. We may request documents in the app during our review, so please continue to monitor your app and reply to any requests. 


Youll also hear from us by phone or email soon after weve completed the review. If we need any additional documents or have status updates well send updates to the email or call the phone number on your account. 


Thank you for your patience! 


Sincerely, XXXX '' I respond " XXXX there XXXX or perhaps XXXX? You seem to be completely ignoring my request that you tell me when I'll have access to my money for purchases and withdrawals. I consider this lack of addressing my questions as unacceptable. Please honor my request and explain why my account is restricted and when the restriction will be lifted. Thank you. '' and " If I don't receive an explanation soon I'll have no choice but to file complaints with the CFPB, FINRA, SEC, and whoever else is necessary for me to regain access to my funds. If you need information from me I am willing to provide it. '' They reply : " XXXX XXXX, Thank you for reaching out to us! My name is XXXX a member of Robinhood Support Team. 


We have placed a temporary restriction on your account for the security and protection of Robinhood and our customers. We need some more information from you before we can lift your accounts restriction '' along with XXXX questions which I answered in reply. 

Then respond : " Hello, My name is XXXX, a member of Robinhood 's support team. I hope this email finds you well and safe. 


Thanks for reaching out. In order to move forward with our review, we will need some additional information. 


We encourage you to please read this entire email carefully and respond with as much detail as possible. '' along with XXXX more questions which I answered in reply. 

They reply : " XXXX XXXX, Thank you for reaching out! This is XXXX a member of the Robinhood support team.

Were still reviewing your account. We may request documents in the app during our review, so please continue to monitor your app and reply to any requests. 


Youll also hear from us by phone or email soon after weve completed the review. If we need any additional documents or have status updates well send updates to the email or call the phone number on your account. 


Thank you for your patience! 


Sincerely, XXXX '' I reply : " I am again requesting an ETA for my regaining access to my accounts ability to spend with my debit card and to withdraw. Please don't ignore my request again. I deserve to know when my account will become unrestricted. The " Well notify you by x date. '' has changed 5 days in a row now, I can't be expected to just sit around and wait for an unknown, ever increasing number of days. Whoever is reading this, since it seems each email comes from a different person, if you are even real people and not AI chatbots, please heed my request otherwise in order to protect myself and my finances I will proceed with filing complaints with FINRA, SEC, CFPB, etc. 
Thank you, XXXX '' They reply " XXXX XXXX, Thank you for reaching out! This is XXXX a member of the Robinhood support team. 


We are currently in the process of reviewing your account. During this time, you might receive requests for documents through the app, so please keep an eye on it and respond promptly to any inquiries. 

Additionally, once we finish the review, we will reach out to you via phone or email. If we require any further documents or have updates regarding your status, we will communicate those through the email or phone number associated with your account. 


Thank you for your patience! 


Sincerely, XXXX '' And that is where the email chain is at currently. The last reply they sent was XXXX hours ago as of XXXX XXXX XXXXXX/XX/year>. 

Each and every time I asked why my account was restricted or when it will stop being restricted, I was ignored and given boilerplate text as you can see. I now have been unable to use my debit card or withdraw money from robinhood for a full week. This has caused me immense frustration.

Company response to consumer: Closed with explanation