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Business Profile

Financial Services

Robinhood

Headquarters

This business is NOT BBB Accredited.

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This business has 2 alerts

Complaints

This profile includes complaints for Robinhood's headquarters and its corporate-owned locations. To view all corporate locations, see

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Robinhood has 4 locations, listed below.

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    Customer Complaints Summary

    • 2,244 total complaints in the last 3 years.
    • 1,125 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. 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.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:03/07/2023

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Back in 2020 I was inadvertently locked out of my robinhood account due to insufficient funds in a new ***** ********** account for a transaction I made on the app. It was maybe $20 dollars overdrawn before the attempt Robinhood draw of approximately $8 dollars. I was able contact support, they asked me submit a copy of the bank statement showing... the transaction in question and my state ID, both of which I did (still have email records of the correspondence).. still no access. I had since gotten another phone (same #) as the last phone was damaged, however I was locked out of my ****** Authenticator app... on the old phone which was deleted and shipping back to the carrier. So, same # different phone, I decided to get my own plan with the same carrier, as I was on my wife's plan... still same phone... now I have a new number and the problem was never corrected. I've tried and complied several times to just get access to my account. I KNOW I took a loss during the whole ***** and dodgecoin explosion as I was still locked out of MY account.... I submitted the proof that I own the account. I have my acct login info, I just need the 2FA disabled, so I can change my phone # and generally get access to my account. I don't for certain yet, but I feel as if I've lost thousands of dollars or more. Please help!

      Business Response

      Date: 03/24/2023

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:03/07/2023

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Over two weeks ago, ************ requested that I upload all my documents ( state ******** statements and even a facial scan on the app ) after a restriction was placed on my account. I did everything and all they could say was that my account was restricted due to fraud and would be deactivated like whaat? Even after submitting supporting documents? Now my fund is hanging in there until a certain remediation is done which I have no idea when that would ever happen. I have filed a complaint with SEC and I would definitely involve legal proceedings soon. This is STEALING. I have read the same issues with people on here who have the same issues. Robinhood is trying so hard to make me believe that all the news about stealing from people is true. Remember , this country is a litigate society. Unrestrict my account now and let me withdraw my money successfully and close it. Treating customers like this is absolutely terrible.

      Business Response

      Date: 03/15/2023

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:03/05/2023

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I have received 3 pieces of mail through the post office within the last three months letting me know to contact Robinhood , as I supposedly owe a fee to them. Within the past 5 years I did look into the company for possible investment. Not once did I send money to do any type of business with them.Within those past years I let them know I was not interested. Now they are letting me know I owe a fee for their services even though I have never gave money for their service or for me to start investing. All of Robinhoods correspondence has been through the post office or by email.Robinhood refuses to:- let me know how much of a fee I owe;- give me a direct phone number to actually talk with a person;Robinhood: continuously is asking for my:- social security number;- a picture of my drivers license front and back;- birthdate I believe since I have s spent no money, sent Robinhood no money, and let them know I am not interested in doing business with them:- I should not be continuously harassed by them by mail through the postoffice and by email.Again, I believe since Robinhood continues to ask for my social security number, drivers license, and birthdate regularly and them refusing to give a phone number to actually talk with a person, I feel I need to contact the Better Business Bureau. My hope is for this issue of me supposedly owing Robinhood a fee will be resolved as soon as possible by not having to owe any money. Even though Robinhood is not letting me know for what or for how much the fee is for as I have inquired multiple times, I do believe this issue can be resolved without owing any money.I appreciate your time and am looking forward to hearing back from you as soon as possible.Thank you and have a good day.-

      Business Response

      Date: 03/23/2023

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:03/03/2023

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
       
      Complaint: 19535540

      I am rejecting this response because: Whilst they admitted fault, they have conducted illegal activities on my account and I had to retain a lawyer to address these problems.

      Sincerely,

      *************************

      Business Response

      Date: 03/16/2023

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:03/03/2023

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
       
      Complaint: 19532048

      I am rejecting this response because:
       I was given specific instructions and information on the process of deactivating my account. I have been locked out for three years because of no fault of my own. This business is not reputable and reporting correct information.
      Someone has deactivated my account without me being able to get my funds back, and I have been given an excuse that came with no evidence of the accusations or incidents they have claimed. I cant reach anyone anymore because of my account being deactivated without them following the steps that held me from withdrawing my funds in the first place. 
      Sincerely,

      *********************************

      Business Response

      Date: 03/09/2023

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:03/01/2023

      Type:Service or Repair Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.

      From: *********************** <*********************************>

       

      Hi,

       

      Kindly close this case as Robinhood has responded and lifted the restrictions. Thanks a lot for your help.

       

      ***************

      where. They didn't provide and ended the chat.Clearly they are randomly restricting accounts and have refused to be accountable. This is demonstrated by the fact they lifted the restrictions while sending an apology and two minutes later restricted it again. I have all emails, chats and account screenshots regarding my engagement with them. At this point I am in a financial distress while Robinhood is clearly violating my rights without due process, explanation or resolution. They are also in direct contravention of Securities Exchange Act, CFPB and FINRA regulations and other laws.All I want is my money to meet immediate financial obligations and get out of this below standard brokerage firm. If you are out there and you are considering using Robinhood, kindly think twice. Yes it's free but one day you will pay it costly through arbitrary withholding of your funds and time spent trying to resolve endless unseen issues. Agree to pay a little and get a proper broker elsewhere.

    • Initial Complaint

      Date:03/01/2023

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Ive been a Robinhood customer for years with a cash management account. I recently had to dispute a charge on my debit card and support would not initiate my dispute for almost a week. In this time, they limited my ability to request live support (chat and phone) through the app. My only option was to submit a ticket via email. It has been almost a month and this issue persists. I reached out to support today and representative ****** informed me that they cant give me access to live support at this time but I may be able to establish rapport with them to enable this later on. This is absolutely ridiculous and against their obligations as a financial institution. As a banking customer, it is my right to be able to contact support through any channel I want to, whenever I need it. Its not a privilege that can be revoked and held over my head with conditions. Robinhood Money LLC is acting unethically and I do not trust them to hold any of my funds or assets. I need access to live support through ALL channels on my account to be reinstated promptly and permanently.

      Business Response

      Date: 03/10/2023

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:03/01/2023

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I invested with robinhood and somewhere along the line they put my funds on hold and requested I verified the banks I linked to my account but submitting banks statements. I didnt all the necessary verifications yet, the put a permanent hold on my account for a fraud related issues. Its been months and I cant have access to my funds. I thing this restriction was done by error and I neee them to lift if it return my money to my bank.

      Business Response

      Date: 03/10/2023

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:03/01/2023

      Type:Service or Repair Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

      Sincerely,

      ********************* ****my money that I need for personal expenses and are elongating the process to getting me my money back in any way they possibly can.

      Business Response

      Date: 03/10/2023

      Please see attached correspondence that was sent to the customer.

    • Initial Complaint

      Date:02/28/2023

      Type:Customer Service Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. I do think that Robinhood Investments is worth the while but I wish that Robinhood **************** would have handled this issue in house and not forced me to escalate a satisfactory response through the BBB because of the negative PR it causes.

      Sincerely,

      *****************************mation and a prior warning that a complaint would be filed with the BBB if no contact was made to resolve the issue concerning account ownership verification.

      Business Response

      Date: 03/10/2023

      Please see attached correspondence that was sent to the customer. 

    Robinhood is NOT a BBB Accredited Business.

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