Checking or savings account -- Managing an account -- Complaint #5588789
Complaint Overview
Complaint ID: 5588789
Company: Robinhood Markets INC.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: Texas
ZIP Code: 75013
Date Received: 2022-05-22T12:00:00-05:00
Date Sent to Company: 2022-05-22T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Robinhood markets Inc has frozen my account with them as a result of an account restriction that they will provide no details about how to get lifted. This has been ongoing for over 3 weeks and they will not allow me to withdraw my balance held in my account to an external account while this is ongoing. However they are debiting my balance for a premium account and services with their company which they are also restricting me from using. So they have limited my ability to access my own money and while they hold my money hostage theyre paying themselves from it for services they wont allow me to use. I logged in 3 weeks ago and was prompted to submit my social security card, my govt issued ID, as well as Bank statements in their entirety. I submitted all of the requested information within a matter of 1-2 days. However, my account remains restricted and despite continuous outreach on my behalf the only responses Ive received from them are XXXX customer service emails from robots that contain no real information and provide XXXX help getting my issue resolved. I have been requesting calls daily and they will not provide me access to the account review team who is supposedly reviewing my account to validate something, but cant tell me what it is or why. It is on its face ludicrous that it should take any company 3 weeks to validate any piece of customer info, much less a firm that is publicly traded and has thousands of employees. I want my money.
Frequently Asked Questions
What is Complaint #5588789 about?
Complaint #5588789 was filed against Robinhood Markets INC. regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-05-22T12:00:00-05:00.
How did Robinhood Markets INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Robinhood Markets INC.?
Yes, visit the Robinhood Markets INC. company profile at readthecomplaint.com/company/robinhood-markets-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.