Money transfer, virtual currency, or money service -- Money was not available when promised -- Complaint #7354176
Complaint Overview
Complaint ID: 7354176
Company: Robinhood Markets INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Money was not available when promised
State: Georgia
ZIP Code: 30518
Date Received: 2023-08-04T12:00:00-05:00
Date Sent to Company: 2023-08-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I have used Robinhood to buy and sell XXXX for a long time. I went to withdraw yesterday and received an error that I needed additional verification. I had to upload a copy of my drivers license, debit card, and bank statement. Even after that, they say that the money will be held from 2 days to 60 days until the review the information I uploaded. I have transferred XXXX of dollars over the year, and they claim withdrawals are instant. I have withdrawn in the past to the same 2 debits cards I use to deposit funds. They have a process where when you link a debit card to your account, you have to log into your bank account and find the code attached to a temporary withdrawal, and then enter that code in Robinhood to verify that you have access to that bank account and debit card. The amount is {$810.00}. Card ending in XXXXXXXX XXXX XXXX XXXX
Frequently Asked Questions
What is Complaint #7354176 about?
Complaint #7354176 was filed against Robinhood Markets INC. regarding Money transfer, virtual currency, or money service specifically about Money was not available when promised. It was received by the CFPB on 2023-08-04T12:00:00-05:00.
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 (Money transfer, virtual currency, or money service) 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.