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Business Profile

Financial Services

Robinhood

Headquarters

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Financial Services.

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

    • 2,224 total complaints in the last 3 years.
    • 1,127 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:07/14/2022

      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 have been purchasing Cryptocurrency and stocks through Robinhood for several months. Randomly I received information saying my account was restricted from purchasing. After receiving an email informing me my account has been restricted from purchasing and buying until I submitted the necessary documents to prove my identity and validate my bank account in PDF format. So I spent the whole day talking with my two banks and obtaining the files needed I sent photos of my State Driver's license, my Social security card, and my bank account information displaying my name address and account used to purchase my cryptocurrency and my stocks. It strictly stated to send the bank statement in PDF format and to make sure my name and address was visible on the statement that was less than 60 days old. I sent the confidential pdf file which I did not want to do and I also sent the password needed to view the PDF file. Even after meeting all of their requirements to remove my restrictions and have my funds released they still continue to hold my money from my own account and they are refusing to put it back into my account. They stole my money that I used to make my purchases and they kept everything I purchased as well with no resolution, explanation, or response after I gave them all of the requirements they requested of me. Robinhood is actively committing theft to it's users and nothing is being done about it.

      Business Response

      Date: 07/20/2022

      Please refer to the attached document

    • Initial Complaint

      Date:07/13/2022

      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 have been locked out of my account after clearing my app session, as of last November, because I no longer have access to the phone number previously associated with my account **************[PLEASE REDACT IN PUBLIC COMPLAINT], account number ********* [PLEASE REDACT IN PUBLIC COMPLAINT] and can no longer receive SMS messages. I have tried extensively to contact Robinhood through electronic means for live manual assistance to no avail. Robinhood's automated verification process is both invasive and unfeasible as at the end, it asks me to add a new phone number to receive SMS verification messages when I am physically unable to. I have never had this issue with any other financial services companies as they all allow for voice call verification where SMS is unavailable; nor have any other companies ask that I go through an evasive yet automated process to verify my identity when a simple 15 minute phone call to customer service would do. Moreover, ********************** does not provide contact information so such a simple matter has taken so long to be addressed. I need access to my account immediately, whether by disabling 2FA for my account or by enabling 2FA through email or voice call. The contact information, account number, address and phone number should be proof that this complaint is legitimate and should assist in locating my account. I look forward to Robinhood's response so that we can work constructively toward a mutually agreeable resolution.

      Business Response

      Date: 07/15/2022

      Please see attached correspondence that was sent to the customer.

      Customer Answer

      Date: 07/18/2022

       
      Complaint: 17563865

      I am rejecting this response as the business has still not addressed some technical issues yet. I cannot elaborate here for privacy and security reasons.

      Sincerely,

      ****** Law

    • Initial Complaint

      Date:07/13/2022

      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 transfered around 2k into a Robin hood account and they have stolen it. They tell me my account is restricted and I can not trade withdrawal deposit or use the money an any other way. They also stated that there was no issue woth the account and that they are not sure why it was flagged restricted. I followed thier instructions to and provided all documentation needed to unrestricted the account, waited the max two weeks with no help and when I contacted them again they just want to start the proccess over. At this point they have had my money for about a month and are unwilling to send it back the the funding account, unlock my account, or let me access my money in any method. I attempted to close the account but was told I can not.

      Business Response

      Date: 07/20/2022

      Please see attached correspondence that was sent to the customer.

    Robinhood is NOT a BBB Accredited Business.

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