ComplaintsforRobinhood
Financial Services
Additional Complaint Information
Customer Complaint:
Robinhood came to BBB’s attention in September 2018. A review of complaints was done in June 2024. Complaints on file state concerns with account security.
BBB recommends users to review the following:
Two-factor authentication
How you're protected
Security guarantee
For additional support, please visit How to contact support.
Robinhood came to BBB’s attention in September 2018. A review of complaints was done in June 2024. Complaints on file state concerns with account security.
BBB recommends users to review the following:
Two-factor authentication
How you're protected
Security guarantee
For additional support, please visit How to contact support.
Need to file a complaint?
BBB is here to help. We'll guide you through the process.
Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
09/09/2024
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
I AM FILING A COMPLAINT AGAINST THIS COMPANY IN REGARDS TO THE **** THAT THEY HAVE PLACED A RESTRICITION ON MY ACCOUNT WITHOUT ANY REASON AND WILL NOT ANSWER ANY QUESTIONS DIRECTLY IN REGARDS TO MY ACCOUNT AND ARE WITHOLDING MY MONEY. THEY HAVE REQUESTED A COPY OF ALL OF MY BANK STATEMENTS AND I HAVE SUBMITTED THEM AND STILL CANNOT GET AN ANSWER FROM THE. ONLY $1,000.00 OF THE FUNDS WERE NOT CLEARED ON THE DAY THAT THE RESTRICITON WAS PLACED. THOSE FUNDS WERE NOT USED ON THIS DAY TO TRADE. I HAVE CALLED MULTIPLE TIMES, COMPLIED WITH ALL REQUESTS, SUBMITTED ALL DOCUMENTATION AND STILL CANNOT GET AN UPDATE. ALL I RECEIVE ARE GENERIC EMAILS. THEY HAVE ALMOST $16,000.00 WORTH OF MY MONEY AND WILL NOT LET ME WITHDRAW IT WHEN I HAVE BILLS TO PAY. I HAVE SCREENSHOTS SHOWING WHERE THE FUNDS WILL CLEAR AND SCREENSHOTS SHOWING THE MONEY WAS NOT EVEN USED ON THE DAY THE ACCOUNT WAS RESTRICTED. YOU CANNOT SPEAK DIRECTLY TO ANYONE ON THE INVESTIGATION TEAM AND YOU RECEIVE THE SAME GENERIC EMAIL OVER AND OVER WHEN EMAILING FOR AN UPDATE. I WANT MY FUNDS RELEASED THAT BELONG TO ME. THERE ARE ONLINE FORUMS WITH THOUSANDS OF PEOPLE HAVING THE SAME ISSUES WITH THIS COMPANY. THIS IS NOT OK TO WITHOLD THOUSANDS OF DOLLARS OF SOMEONE'S MONEY WITH NO ANSWERS AND NO EXPLANATION.Business response
09/11/2024
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 9/11/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Initial Complaint
09/06/2024
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
Stop sending me unsolicited spam. Your email (attached) says i cannot unsubscribe as it is a non-promotional communication. Yet this is clearly a promotional email. You are violating the law by spamming me with unsolicited emailsBusiness response
09/16/2024
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 September 16, 2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Customer response
09/16/2024
Complaint: 22249509
I am rejecting this response because: Robinhood has not addressed my issue. They instead tried to delete my account instead of responding to my actual concern
Sincerely,
**** ******Business response
09/18/2024
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 September 18, 2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Initial Complaint
09/06/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Do not trust this company. They advertise a cash card/debit card product. I had a direct deposit from my job go into the account. As soon as the deposit was made available, my account was restricted. I provided all the documents they advised me to. It has been over a week and the company has yet to release my account/funds. I asked why the account was restricted. They still have NOT provided me any reason to my account being restricted. The remaining of my money for this week is in that account. They do not care about individuals only what they have going. This is money that I worked for and I have to pay bills and get food. They won't provided you with information about your own account.Business response
09/09/2024
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 09/09/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Initial Complaint
09/05/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
On June 4th, 2024 Robinhood closed my account and sold my positions in AAPL, VOO, VUG, and VGT. They returned the principal investment to my bank account and retained the capital gains in the closed Robinhood Brokerage account. I have tried for three months to withdraw the remaining funds from that account through email with Robinhood support, providing all the necessary documents and identification they asked for. Since July 11th the only responses to my emails have been automated messages informing me the account is closed. Since the account is closed I have no access to live chat or to request a phone call. There are no more paths for me to take to communicate with Robinhood and resolve my issue.With how difficult they make themselves to reach, I can only assume they have no intention to return my money and to keep it for themselves. This is theft.Business response
09/11/2024
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 09/10/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at *******************************.Initial Complaint
09/04/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I closed my account but still get statements about it being open. I have emailed support over and over for months and they won't close and delete my account. When they give me instructions on how to do so they don't work because I kept deleting my account and it kept coming back. **************** never addresses why this keeps happening. I want my account deleted and them to stop emailing me about an account I don't want and a company that is terrible.Business response
09/06/2024
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 09/06/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Initial Complaint
09/04/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
My husband Passed away and he had small investment account with **********************. It's very hard to get in touch with this company, but I was able to chat and than emailed them, no phone calls.I was trying to transfer his small investment account to my name as his wife and beneficiary on his account. I emailed them absolutely everything that they needed, but no emails back , no communications...Every time when I **** with life agent , they lied to me that they are working on my case...Robinhood is working with my late husband's money and trying to make me give up , so they can keep the funds.Business response
09/10/2024
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 09/10/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at *******************************.Initial Complaint
09/04/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
At 1:38 AM on 9/4/24, I received 3 emails stating that my Robinhood account has been approved, that I turned on 2 factor authentication, and that I changed personal information on my account. I did not request an account (I have recently been the victim of identity fraud). I went online to see how to contact Robinhood to report fraud but there appears to be no way to contact **************** unless you can log in or at least provide an account number, which I obviously cannot.Business response
09/11/2024
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 09/11/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at *******************************.Customer response
09/11/2024
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
*************************Initial Complaint
09/03/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
On August 20, 2024 I decided to open an account and try my hand with Robinhood. The app stated it was user friendly and safe. I verified with my debit card, social security number, and bank account. I put in $2,107.56. On September 2, 2024, I decided with my lack of confidence, it was not for me and went to withdrawal my funds back to my bank. Robinhood restricted my account so I could not do so. I spoke with over a dozen associates (all verified my account each time again) and could not give me a single reason why. They stated between September 6 or October 1 I would receive a call or email explaining it. I have full documentation from my bank showing these funds came from Navy Fed and literally only pennies were made. I am demanding my money be returned to my account ASAP and my account closed. I feel they are keeping my money and this is fraudulent because I am new. I can show proof of funds sitting in there as well.Business response
09/05/2024
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 9/5/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Initial Complaint
09/03/2024
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
My robinhood account was closed without giving me a reason, I never violated any of there terms and I have had that account for about 10 years. Within those 10 years I have never had any suspensions or anything that is against the terms and conditions. None of my actions with the account were violating or against any of there terms.Business response
09/04/2024
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 9/3/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at ********************************Initial Complaint
09/03/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
Twice Robinhood removed funds from my account under the guise of transferring it to a different account but debited only charging me for the transfer but never actually transfered it and kept all the value to be transferred and returned nothing back to my account even after several months of requests for Resolution they still refuse to communicate any form or effort they have ever even looked into it. There communication has been mostly nonexistent but very put off or misdirection on the few occasions someone was reached. It is obvious they are trying to bury this because of their personal benefit if it gets swept under the carpet with zero concern for me there client or morality or laws they may have Infringed upon. Whatever there reason it has no basis in legality or what's reasonable or fairBusiness response
09/10/2024
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 09/10/2024. If you have any further questions or comments regarding this matter, please do not hesitate to contact us at *******************************.
*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
Customer Reviews are not used in the calculation of BBB Rating
Customer Complaints Summary
1,862 total complaints in the last 3 years.
699 complaints closed in the last 12 months.