Checking or savings account -- Managing an account -- Complaint #5866048
Complaint Overview
Complaint ID: 5866048
Company: Robinhood Markets INC.
Product: Checking or savings account
Sub-Product: Other banking product or service
Issue: Managing an account
Sub-Issue: Problem accessing account
State: Ohio
ZIP Code: 452XX
Date Received: 2022-08-10T12:00:00-05:00
Date Sent to Company: 2022-08-26T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have been fighting with Robinhood to get them to unrestrict my spending and investment accounts for 11 days now, since they restricted it for " suspicious activity '' on XX/XX/31 when I tried to use my debit card linked to my spending account at a grocery store XXXX mile from my house. I had the correct PIN to use the debit card, because I tried twice, and I had used the card before multiple times before that. I have provided the following documentation to Robinhood to verify it was me : picture of my driver 's license, pictures of myself from multiple angles, picture of SS card, and two bank statements. That's a lot of documentation for something like this, it seems. Especially ridiculous since I talked to them on the phone and verified my identity several times. There is zero sense of urgency on their end to resolve the issue, all the while my money is locked up. It's not an insignificant sum of money for me either. I get that suspicious activity happens and Robinhood has to protect me and itself. Those documentation requirements are seemingly a bit onerous, but, setting that aside a minute, there needs to be some timely resolution of these issue. Robinhood advertises that you should go direct deposit with them. Imagine if I had done that? I'd be 10 days without access to my pay! I have no idea why things are so messed up there, but they are. Someone needs to look into Robinhood and their practices before someone gets hurt.
Frequently Asked Questions
What is Complaint #5866048 about?
Complaint #5866048 was filed against Robinhood Markets INC. regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-08-10T12:00:00-05:00.
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.