ComplaintsforRobinhood
Financial Services
Additional Complaint Information
Customer Complaint:
Robinhood came to BBB’s attention in September 2018. A review of complaints was done in June 2024. Complaints on file state concerns with account security.
BBB recommends users to review the following:
Two-factor authentication
How you're protected
Security guarantee
For additional support, please visit How to contact support.
Robinhood came to BBB’s attention in September 2018. A review of complaints was done in June 2024. Complaints on file state concerns with account security.
BBB recommends users to review the following:
Two-factor authentication
How you're protected
Security guarantee
For additional support, please visit How to contact support.
Need to file a complaint?
BBB is here to help. We'll guide you through the process.
Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
10/31/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
On 10/21/2024, Robinhood locked my account due to trying to login from a 'restricted location' (it was a plane). They asked for paperwork (utility bill proving my US residential address which I provided). I have been emailing support for 10 days consecutively and I am not getting any responses back. I have an account worth $110,000 with open positions that expire soon and I need to close. I have provided all that information to support and no one is responding. They also said to contact them when I was back in the ***. Well, I am back home since 10/30/24 and have not received any responses. I have a lot of money that is at risk in my account and support is not helping. PLEASE HELP **** *******Business response
11/04/2024
Thank you for bringing this matter to our attention and for giving us the opportunity to serve you. Robinhood has thoroughly researched the concern and responded directly to the individual initiating the inquiry accordingly on 11/04/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Customer response
11/04/2024
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me albeit somewhat late after the damage to my account was done. Unfortunately, the only way to make Robinhood respond after 10 days of locking my account and being non-responsive, was to file a complaint with the BBB.Thanks to the BBB for providing this method to help me (the consumer). I don't know what else to do and how long would it have taken to ge tmy issue resolved.
Sincerely,
**** *******Initial Complaint
10/30/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
This issue has been troubling me for a long time. When I originally opened my account, I wasnt a U.S. citizen, but now I am, and its my only citizenship. Ive been trying to update my profile, but the agents/system keep requesting unnecessary documents for verification. They ignore my Real ID and insist on a U.S. passport, which I dont have nor plan to get, as I have no intention of traveling abroad. I dont want to spend extra money just to update my profile on ************************* unsure if the customer service representatives Im dealing with are U.S. citizens. I pointed out the Veteran tag on my Real ID, which legally serves as a Veteran ID. How could someone who isnt a U.S. citizen be a U.S. veteran?I hope a supervisor or policy department can be informed and update the requirements.Business response
10/31/2024
Thank you for bringing this matter to our attention and for giving us the opportunity to serve you. Robinhood has thoroughly researched the concern and responded directly to the individual initiating the inquiry accordingly on 10/31/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Initial Complaint
10/29/2024
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
I deposited $5,000 (5k) into my Robinhood account as an initial deposit to open my account and then another $10,000 (10k) the next day. On 10/22/2024 the 5k and on 10/25/2024 the 10k cleared from my savings account at ***********. The 5k settled in my Robinhood account 5 business days later and was made available for trades. The 10k was supposed to be made available 10/30/2024. Today I open my Robinhood account and it shows I'm in a deficit. I look in the history and both my 5k and 10k transfers are gone. Please note, as stated above the ** had settled already and was available for trades, but in the attached image both missing items are in the pending section.Business response
11/04/2024
Thank you for bringing this matter to our attention and for giving us the opportunity to serve you. Robinhood has thoroughly researched the concern and responded directly to the individual initiating the inquiry accordingly on 11/4/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Initial Complaint
10/28/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
So on Tuesday Night in the date of October 22nd I get a direct deposit of 1102.83$ from ********************************** which is a company I work for and I get pay from every Tuesday..on Wednesday morning after I took out 100$ the previous night I get a notification telling me ***** **** restricted my account and under review after contacting many times they decided to close my account with all my money In there..I been trying to get in contact with them for the past 2 days but its been a complete waste of time .. I asked for a call back they did and put me In 1 hr hold on whom I eventually hung up because I was getting impatient and frustrated..at this point I dont want the account because I dont use it to trade or nothing I use it to get pay and handle some stuff like buy food and pay for ride transportation I usually take all my money out but I didnt have no time to do so this week since they restricted my account the next day I got paid..I just need my money the first is coming up and I have to pay my bills I have to pay rent I got fired from my job cause I couldnt make it to work for the past 3 days you guys already made My life miserable I just need my money so I can pay my bills and be done with you guys !! ***** **** is bad business I definitely wont recommend Nobody to sign up with them is there any way I can transfer my money out the account? Everytime I tried to contact them they sent me the same email over and over with no follow up on how I can unrestrict my account and get my money out I even file a complaint with **** and Im willing to take this to the authorities because this is not fair at allBusiness response
11/01/2024
Thank you for bringing this matter to our attention and for giving us the opportunity to serve you. Robinhood has thoroughly researched the concern and responded directly to the individual initiating the inquiry accordingly on 11/01/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Initial Complaint
10/28/2024
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
I unsubscribed from there emails, they sent me a letter via **** saying I'm going to accur fees if I don't update my email preferences, so I just wanted to close my account, and their customer service representatives would not help me at all, in fact they were rude and just kept asking me if I'm sure I want to close my account, over and over. They wouldn't resolve my issue then they just ignored me from there and froze the conversation thread all together.Business response
11/01/2024
Thank you for bringing this matter to our attention and for giving us the opportunity to serve you. Robinhood has thoroughly researched the concern and responded directly to the individual initiating the inquiry accordingly on 11/01/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Customer response
11/01/2024
Complaint: 22478370
I am rejecting this response because:They said everything was handled properly and in a timely manner which is not true, and they left out the part where they threatened me with fees for not updating and using there platform.
I want to thank THE BBB however, once they reached out to them, within, id say an hour, did robinhood finally give me an option to close my account.
Thank you.
Sincerely,
******* *******Initial Complaint
10/28/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
10/26/2024 Robinhood has advertised a promotional match % for transfering your brokerage account into ************************ brokerage platform. There was little to no other details on the timeline, or that an extensive amount of time, documents, and the similar would be needed that is inline with the majority of other similar ************ has been excessively too much time, lack of communications, intentional avoiding my attempts to contact the company, and much more of the similar. I spoke with **********, where I had my brokerages account prior to the transfer, and the representatives validated my concerns. The delays have been detrimental to my ability to maintain stable financial funding to spend on basic living needs for my family, caused delays in paying bills, especially a car order payment which is now in jeopardy of being taken from my reservation to buy, and accumulating late fees, and penalties.I have the unfortunate issues documented fairly well with photos (they don't allow screenshots, and I can see why). I do plan to write to the ***, and other local city, state, and governmental oversight committees if this is not resolved asap (I spoke with Nino, a Robinhood representative over a week ago, who graciously spent about an hour on the phone instructing me all that was needed, how to upload all, and confirmed receipt of all that was needed. He also said I would have access to my account shortly). It has been egregiously delayed, and even worse customer support since then, and I still currently do not have access to my funds to this day. This is unacceptable, unprofessional, and I will look into the legality of the events that have transpired.Business response
11/01/2024
Thank you for bringing this matter to our attention and for giving us the opportunity to serve you. Robinhood has thoroughly researched the concern and responded directly to the individual initiating the inquiry accordingly on 11/01/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Initial Complaint
10/25/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
Robinhood restricts my investing account after I had a disagreement with customer support, I was requesting information about how much money was lending to transfer from my account so I could make sure I didnt incur in a deficit. Immediately after our argument they restricted my account, they froze all of my money and asked me tos end my id and bank statement and a selfie, I did all of it. It has been 6 days since. They have called me back with an automated system and then leave me on hold for over 30 minutes at a time, I hang up and then receive a message we tried to contact you on this date__ and then the button to request a call Back doesnt work. I finally got a call back, I answered all of the questions they said I would get a resolution by tomorrow, today they called again and left me on hold for 30 minutes, I called another number and the agent confirmed my information and then said he couldnt help me release my funds its $2,465.00. After ********* **** up on me and said they couldnt help me over the phone BUT THERE IS NO OTHER WAY TO CONTACT THEM the other service is Ai chat bots. Im a widower and this is all my savings, I need my money back and this company is holding my money from me for no reason. Here is my complaint with **** with all the photos. Case#: 241021-16577820Business response
10/30/2024
Thank you for bringing this matter to our attention and for giving us the opportunity to serve you. Robinhood has thoroughly researched the concern and responded directly to the individual initiating the inquiry accordingly on 10/30/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Customer response
10/30/2024
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me.Sincerely,
**** ******* *******Initial Complaint
10/25/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
I've been trying to contact Robinhood Support for 2 weeks about restrictions on my account for "unusual activity". I don't see any. My rent money is in my cash account but I can't access it due to the restrictions. I need that money TODAY or I will be evicted next week and homeless! I've actually talked to a real person twice, although their accents made it difficult to understand them. I just got off the phone with Ivy. All she could tell me was what the emails said "It's under review with our internal team." FOR 2 WEEKS!!! I told her my predicament and asked to speak with someone higher up with authority. She said she can't do that. Can the *** or SIPC help me get some action out of these people? I need access to my cash that's being held against my will. Their customer service process is the worst I've ever dealt with! And I'm a Business Analyst specializing in customer service and process improvement. Bottom line: I want the restrictions lifted and the money in my cash account TODAY!! I need a contact from a decision maker TODAY. If I'm homeless next week due to their inadequate business practices, I will sue them and it will cost them more than my $3100!!Business response
10/29/2024
Thank you for bringing this matter to our attention and for giving us the opportunity to serve you. Robinhood has thoroughly researched the concern and responded directly to the individual initiating the inquiry accordingly on 10/29/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Initial Complaint
10/24/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I have an account with ********************** with over $600.00 i have been trying to reach them for over two years, I no longer have the same cell # old # ************ trying to reach them i created an other account so i could talk to a person.Business response
10/31/2024
Thank you for bringing this matter to our attention and for giving us the opportunity to serve you. Robinhood has thoroughly researched the concern and responded directly to the individual initiating the inquiry accordingly on 10/31/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Initial Complaint
10/24/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
On October 8th I purchased crypto through the robinhood app to send to my brothers crypto wallet so he is able to pay his rent. I was able to get around $994 sent to his wallet successfully. However , after I tried to send him another $500 transaction, my account was restricted. Robinhood has asked for a picture of my ID, a selfie with me holding my ID , and a bank statement thats linked with my debit card making the purchases. I sent everything to them and they told me they would get back with me after they reviewed my documents. Everyday I go and log into my account to see if the restriction has been lifted , they push the day back on the restriction. And they email me telling me they have been trying to call me which is false, they have not called me. I then called them at least 5 times since my account was restricted, and they tell me its nothing they can do, I have to wait until my account is done getting reviewed. I cant wait anymore , my brother lives in *************** and I was sending him the money so he could pay his rent, I was trying to use my exodus app to purchase crypto however it wasnt working so I started using robinhood, if I would have known they would hold my money without me knowing I would have never used their platform. I have been telling them how they are putting my brother in a bind , and they show they dont care by holding my money day after day for no reason. They told me that me sending crypto was a fraud pattern. There is nothing fraud related about sending crypto , and crypto is no where near illegal. I am contacting you guys because I would like my money out of the account so I never have to use their platform again. If you guys cant help me, my last resort is to sue because my brother is facing eviction, please get back to me as soon as possible as I cant wait around anymore just for them to tell me they cant help me .Business response
10/30/2024
Thank you for bringing this matter to our attention and for giving us the opportunity to serve you. Robinhood has thoroughly researched the concern and responded directly to the individual initiating the inquiry accordingly on 10/30/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
Customer Reviews are not used in the calculation of BBB Rating
Customer Complaints Summary
1,823 total complaints in the last 3 years.
726 complaints closed in the last 12 months.