Consumer complaint received 2025-01-30 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Money was not available when promised — 
Company: ROBINHOOD MARKETS INC.
State: CO

Complaint narrative:
I have had my robin hood account for a few years already, and have used it multiple times throughout the time although not a large amount. on XX/XX/XXXX I decided to deposit $ XXXX to robin hood buying power. I switched over to a new debit card containing the funds I was looking to transfer to robin hood and take advantage of its instant transfer feature ( whole purpose for doing it through them with this card in the first place ) about an hour or two later I receive a message stating my accounts ability to send funds to another wallet has been restricted after trying to buy XXXX with my buying power to send to another crypto wallet that I own on another platform. I was understanding as depositing a sum and trying to transfer outside of said platform might be of suspicion. I wait until the " We'll notify you by XX/XX/XXXX '' date that they give me only to find out that once it is said day they only just change the date to the next day. I then try to contact them via their " call back '' feature that they have. first guy was not very useful but at least was honest and let me know my account was still under review and to just wait it out and should have my account back within 1-3 business days. On XX/XX/XXXX now the date that robin hood has given me to receive a notification has changed to XX/XX/XXXX. now this is the second time that they change the date so I request another call back. this time when receiving call back, the support rep lets me know that he is unable to identify my identity and gave me no chance to respond to his statement and follows with hanging up on me in the middle of me asking a question. I now request a call back for the third time after finding out once again date that robin hood is supposed to give me an update is now changed to XX/XX/XXXX. This is ridiculous and having these dates that they claim are for giving you an update on your account are absolutely pointless if each time it becomes said date they just change it to the next. That being said I decide to request another call back, once they do call me back after getting through the verification process again they decide to hang-up in the middle of conversation a second time, despite this time passing the over the phone verification process and did not receive a call back after this happened. I also have received a pop up on robin hood to submit ID verification documents which I have done and passed and still no luck with them removing the restriction on my account. I do not understand what else they want to hear or see from me as they do not communicate that with me as I have provided the necessary documents only for them to let me know in app that there is " no action needed. '' Them not communicating anything useful to me and their customer reps constantly hanging up after waiting 24 hours in queue for each callback and not receiving any more information whatsoever about the case shows me they have no interest in fixing my account restriction. this is truly frustrating as I believe this account restriction has costed me more than the transfer that I have made to this account as I needed it same day hence why I used their platform for their " instant transfer '' feature. I was still understanding and was ok with waiting a little while for them to do what they believe is the right thing but now they have proven they do not care to help solve this issue and do not plan on based off of the experience with them since the start of the incident and lack of efforts to communicate with me.

Company response to consumer: Closed with explanation