Money transfer, virtual currency, or money service -- Money was not available when promised -- Complaint #9886862
Complaint Overview
Complaint ID: 9886862
Company: Robinhood Markets INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Money was not available when promised
State: California
ZIP Code: 91356
Date Received: 2024-08-19T12:00:00-05:00
Date Sent to Company: 2024-08-22T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Subject : XXXX XXXX XXXX XXXX for XXXX XXXX XXXX Dear consumer federal protection bureau I am writing to formally lodge a complaint against XXXX regarding a troubling experience I had with a XXXX transaction on XX/XX/year>. At XXXX XXXX, I received XXXX XXXX, and was informed that the transaction would take approximately XXXX minutes to complete. Following this, I was notified to perform a final check and was told that my XXXX would be visible in my account. However, I found that the XXXX did not appear in my account as promised. I was informed that the transaction was under review and that I would need to wait XXXX hours for the coins to show up. Despite this, by XX/XX/year>, the XXXX still had not been credited to my account. Upon contacting a live agent, I was told that I would have to wait an additional XXXX days for the issue to be resolved. This situation is deeply concerning, as it appears that XXXX is using customers funds without permission for an extended period, which I believe constitutes fraud. The volatility of cryptocurrency prices means that the value of the XXXX I am owed could change drastically over those days, leaving customers like myself at a severe disadvantage. I urge you to take immediate action against this practice to protect users from potentially fraudulent activities. Thank you for your attention to this serious matter. Sincerely,
Frequently Asked Questions
What is Complaint #9886862 about?
Complaint #9886862 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 2024-08-19T12:00:00-05:00.
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.