ComplaintsforRobinhood

Financial Services

Current Alerts For This Business

There are 3 alerts for this business. See all alerts

Pattern of Complaint:

Robinhood came to BBB’s attention in September 2018. A annual review of complaints was completed in November 2023. Based on BBB files, the company continues to have a pattern of complaints. Complaints processed by BBB state receiving no response or follow up when contacting the company to resolve issues. Complainants also state despite providing the requested information to verify their identity in some cases multiple times, they still are unable to get access to their account.

BBB has reached out to Robinhood, asking that they address BBB’s concerns and, to date, have not received a response.

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Initial Complaint
04/11/2024
Complaint Type:
Service or Repair Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I've been trying to update my physical address with robinhood for several weeks now. I've given them MULTIPLE supporting documents showing my updated address, but they refuse to change it. They insist that I do not meet their criteria for proving my address, when in fact I've proven it without a doubt. I've given them multiple bank statements from 2 banks, my drivers license and an invoice from an internet provider, all of which clearly have my name and updated address on them. At this point, I have serious security concerns regarding my financial documents being mailed to an address that I am no longer affiliated with.
Business response
04/18/2024
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 4/18/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at *******************************.

Customer response
04/18/2024
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********. They have changed my address like I've been requesting and I find that this resolution is satisfactory to me.

Sincerely,

***************************
Initial Complaint
04/05/2024
Complaint Type:
Product Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Starting in March 2024 & ongoing. I had a iPad crash, was then unable to access my email, I set up a new email & bought a new iPad, called Robinhood to inform them because they restricted my account. Then it began, I have taken my picture multiple times, sent copies of my drivers license multiple ************ my latest bank statement to them over & over. To no avail, another person will call & tell me to do it all over. I am 69 years old & have high blood pressure, I cannot deal with it anymore.I have requested to speak Only to a supervisor at this point Im waiting to see if they actually have Any supervision! They refuse to lift the restriction although I can give them money from my bank, I cant transfer MY money back to my bank? I have ask them to close the account send me my money back, I will just sell off stocks to cash. They can send funds to the bank directly.Please any help would be appreciated.
Business response
04/12/2024
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 April 5, 2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
Customer response
04/12/2024

Complaint: 21534535

I am rejecting this response because: they have done Nothing to resolve this problem! I am still locked out of my account.
You can tell by the over 2000 complaints what this company is like. They still have not returned my call when I asked for a supervisor. They continue to support staff, call over & over telling me to do the same things over & over & over again. Take photo, copy drivers license, send bank info, which I have done repeated with at least 4-5 people. I will not do it again.
I will not do it again until I speak with a supervisor. Again they are have done nothing to resolve this matter.

Sincerely,

*************************
Business response
04/16/2024
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 04/16/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
Customer response
04/17/2024

Complaint: 21534535

I am rejecting this response because:, now I am completely unable to even see my account, I have to factor ID account comes up to a blank Robinhood screen.
i really wish these people would stop playing games. I just want my money back& I cant even get into the account to trade & cash out!

Sincerely,

*************************
Initial Complaint
04/05/2024
Complaint Type:
Delivery Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I placed a limit order to buy $540 of ETH crypto currency for a maximum price of $3250 on 04/03/2024 at 10:45pm on 04 /05/2024 in-between 1:00am & 1:30am the price fell below $3250 at which time my limit order should have been executed but it was not and when I reached out to support they did not help
Business response
04/12/2024
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 April 10, 2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
Initial Complaint
04/05/2024
Complaint Type:
Product Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
On Jan. 10th and 18th I deposited a total of $100.000.00 to my Robinhood brokerage account from the linked account of **** of America in my Robinhood App, and then on Feb. 7th I received a restricted notice from Robinhood and then on Feb 8th I received a email of Account Closure(s) in Progress, (All of your Robinhood accounts will be closed. Account closure can take up to 4-7 business days depending on the assets held in your account and if liquidation or transaction settlement is needed.) they are holding my total funds of $102.297.22 and I sent them emails almost everyday since Feb 8th, asking when can they release my money to my original bank source that linked to Robinhood, they replied the same email says (All funds will be returned if eligible to either the accounts that deposited the funds or a linked bank account. Youll receive email alerts as these transfers are processed. It may take up to 15 business days to complete this process.) but the fact is they are holding my money and put me to wait like endless. This is happened on Feb. its been almost a month since the account closure date. Ps: I didnt do anything wrong I was using the robinhood app to buy and sell stocks and cryptos, suddenly they restricted and closed my account and retained my funds. I have nowhere else to complain no body to discuss right now Im panic Im afraid they are not returning my funds, because these issue happens to a lot of Robinhood customers. Please help me
Business response
04/10/2024
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 4/9/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at *******************************.
Initial Complaint
04/04/2024
Complaint Type:
Service or Repair Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I have been trying to withdraw my money from my Robinhood account for ****** for days. They keep telling me my bank account is not linked and it is. I have talked to several representatives and none of them resolved my issue yet. If my account was not linked how were they able to charge me 1.95 several times for instant transfer. I would like to get my money and close all accounts with them.
Customer response
04/10/2024
From: ***************************** <**********************>
Sent: Tuesday, April 9, 2024 6:57 PM
To: info <************************************>
Subject: Re: You have a New Message from BBB Serving ********************** and Northern Coastal **********, Complaint #********

Please cancel your services, I was able to get my money from Robinhood after several calls and emails.
Initial Complaint
04/04/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
hello, ive been investing in the robinhood business, for about 2 years. this happend within a span for 4 weeks. Basically what happend was i was trying to withdraw money from my brokeage account to my personal bank account. they said my account was restricted( ive tried to contact them in multiple emails, they wouldnt tell me why my account was restricted and not helping me unrestrict my account. when logged on my account i see that a huge portion of my money that i had, was missing. i contacted the support again, they were unhelpful. all i want is my full refund.
Business response
04/12/2024
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 April 10, 2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
Initial Complaint
04/03/2024
Complaint Type:
Product Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Three times I have requested a call back from *************** to discuss whether they will/could/can transfer my stocks that have a specific CUSIP Number. Three times a representative that obviously had no experience with such matters asked for me to hold for them while they consulted either their script, co-worker, or supervisor for the answer. All ended up being over 1 hr. + (1:38 being the longest) hold in which they hung up on me. I then received an email for each by them saying we attempted to contact you by phone but were not available to because no one was at the requested call back number. Each one of those calls never rang but went straight to voicemail. I asked them to leave either a voice mail or an email in which they could leave detailed instructions on how to transfer my shares. I received not one response that could help me. Saw plenty of oh so cheery happy looking customers responses worded by the company. and all remained with no response. Their customer support, if you want to call it that, is not even so nowhere even close to the definition of and legally should not be able to say that they have anything remotely like it. I even said if they couldn't help me I would close my account, so I guess that's what I will do today.
Business response
04/12/2024
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 April 9, 2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
Initial Complaint
04/03/2024
Complaint Type:
Product Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I opened an account with ********************** on March 2 2024. I purchased Ethereum crypto currency that same day and my account was restricted on March 4 2024. Robinhood support claimed they locked my account due to suspicion of fraud. After supplying all requested information to prove it wasn't, they closed my account on March 6 2024. Robinhood sold my Ethereum on March 7 2024, for more than I purchased it for. On March 13th, I received all of the money I used to fund the Robinhood account(2500 dollars). I was told all my holdings would be refunded back to me by March 25th. I still have not received the profit that was made when Robinhood forced the sell of my investments. I have tried multiple times to contact Robinhood and the outcome is always the same, I get an email that states they are no longer able to support me as a customer. What right do they have that entitles them to keep my money?
Business response
04/05/2024
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 04/05/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
Customer response
04/05/2024

Complaint: 21523668

I am rejecting this response because: Robinhood still has not released my money and their reply states the following "we will no longer be able to support you as a customer here at **********************". I am fine not being a Robinhood customer, but they still posses the profits I earned in the brief time that I was.

Sincerely,

***************************
Business response
04/11/2024
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 04/11/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
Customer response
04/11/2024

Complaint: 21523668

I am rejecting this response because:
Your solution is to keep my earned money and inform me there is nothing else you can do, because my account is closed? The account which you issued a forced closure of after I supplied all requested documents and answered every question.

Sincerely,

***************************
Business response
04/16/2024
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 04/16/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
Customer response
04/17/2024

Complaint: 21523668

I am rejecting this response because: Your final decision to keep the profits from my investments is unacceptable. Your lack of customer service is equally appalling.

Sincerely,

***************************
Initial Complaint
04/03/2024
Complaint Type:
Customer Service Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I had to call Robinhood multiple times around March 2, 2024, on different days because I am receiving an error message blocking me from using different features on my account. I was given a hard time by Robinhood during this time and experienced unprofessional customer service. The error message I keep receiving is, "Please try again tomorrow. To ensure the safety of your account, we have blocked this option." I was told I had to verify my identity, so I sent Robinhood my identification multiple times. Robinhood told me the error message was fixed and to give it time but after I waited the requested time, the error message was still there. I had to call again and Robinhood told me the error message was fixed again and this time I was finally able to do a few things on my Robinhood account that was previously blocked. Then I noticed the same error message popping up blocking other features on my account days later, which is still on my account as of 04/02/2024. This error message is currently preventing me from removing old devices that I no longer own from my account to help secure my account. I am also experiencing the same error message when I try to link my debit card to add funds to my Robinhood account. ********************** said it was a security measure preventing me from linking my debit card to add funds to my account and that I can try linking my bank account, but that option is not working either. I also have not been able to open a Robinhood spending account and ********************** said they could not tell me anything about what was going on and that a lot of other people were experiencing this same problem with Robinhood. Robinhood told me this issue was out of their control, which is concerning when trying to get assistance. I am requesting clarification on what "out of their control" means, because I have not been able to receive any help with this for the past month and would like to know who I would have to contact. I attached screenshots.
Business response
04/05/2024
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 04/05/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
Customer response
04/05/2024
From: ********************************** <**********************************>
Sent: Friday, April 5, 2024 11:54 AM
To: info <************************************>
Subject: Message from BBB.org

I never received the option to decline Robinhood's response or respond back to Robinhood. This matter is still not resolved after I was originally told it would be. It's a lot of "I don't know" answers in Robinhood statements and I would like to talk to someone who do know. I have experienced glitches in my account and would like my user account checked for bugs as well. I was also told that other people experienced similar issues. This is in regards to complaint #********.
Sent from ************************* (**********************************************)
Business response
04/10/2024
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 04/10/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
Initial Complaint
04/03/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
So I withdrawed $9,234 from stake.us into robinhood ETC and they are holding my money hostage saying its unrecoverable. I sent $9,234 eth to my etc wallet on accident and they are both connected to the same private key, they are associated, a technition from robinhood can fix this.They have done this to thousands of people and kept the money, I have a family and I need help bad, they are scamming 1000s of people by this issue stating its not recoverable but the money shows in the block chain as its succesfully delivered. PLease help me pressure this business, they can help, they have done this to so many people.
Business response
04/05/2024
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 04/05/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
Customer response
04/05/2024

Complaint: 21522609

I am rejecting this response because: I spoke with a Crypto Lawyer out of ********** and the Attorney General, I am taking this very seriously. They said robinhood can 100% retrieve my funds. Eth and Etc Classic run on the same private key. One of their representatives even said they have done it in the past on rare occasions. This is $9,200, I made a genuine mistake. How can they help a few other people but not me? I am begging as a customer who lost $50,000 in stocks on the robinhood platform last year, please help me get my $9200 back.

Sincerely,

*************************
Business response
04/11/2024
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 04/11/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
Customer response
04/11/2024

Complaint: 21522609

I am rejecting this response because:
a manager responded to my email and said they cannot help me but they have helped people in the past. So basically I was explained to that they have done a engineering lift to help others in the past but the are refusing to give me my $9200.
they have my ETH sitting in the ETC wallet and they are stealing my money.
they have recovered funds in the past but wont recover mine. This is theft, Robinhood is robbing people.

Sincerely,

*************************
Business response
04/16/2024
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 04/16/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************
Customer response
04/16/2024

Complaint: 21522609

I am rejecting this response because:
they stole my money, they refused to pay me my $10,000 worth of crypto, they lied to me vis email. A manager named ******** said they helped people before in my position, robinhood is stealing my money and causing my family mental health issues. People kill themselves over losing money, robinhood should do the right thing. They have done nothing to help me, they have been worthless. Robbing me.

Sincerely,

*************************

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