Robinhood Financial

Dont ever use this app they will take money from you and blame it on you or your bank not there shady buisness practices

Warning!!! I have 15k worth of stock I wish to transfer as far as I can get it from Robinhood. Terrible support that keep giving me a run around and I still cant get my money because they will not lift a restriction to my account. They do not except any phone calls. Please use a accredited brokerage company not Robinhood. I have never posted a negative review until this one.

I think it can be a great app; has a few kinks to work out. however, when kinks & questions come up it takes PROFESSIONAL and accurate fixes. not BS. IF YOU DON"T KNOW HOW TO DO SOMETHING then escalate it to someone who does.
Oh, I see they are replying so I'll give some of the details here. I wanted to go Gold, so I said Hey I want to go gold how much do I need to deposit. The app asked for appx $1200 transfer so I hit it, waited. Then tried to do the transaction I wanted to do. The app acted like my transfer wasn't hit, asked for $1300 the 2nd time. So I assumed the first time didn't take (I had $800 or more in value in my account already, it takes $2000 in your account to go 'Gold' and use $1000 more of RH $$).
since I couldn't take advantage of the gold level to make my purchase after the initial $1200 deposit, and since the app ASKED me for another $1300 (remember even if I had nothing in my account, it only takes $2000 total so it shouldn't be asking me for $1300 if it already saw $1200 coming in). I said yes, do the $1300 I want to make this transaction.
So of course, it withdrew it from my bank account twice, one at each level. I tried to get RH to stop one of the 2, either one, but they refused so I was able to get my bank to stop one of them. I COULD HAVE STOPPED THEM BOTH robinhood, but wanted to give your business a chance.
when I asked RH support about this, they NEVER, never never admitted fault. 'Its' only user input, we don't initiate those transfers. So it's your fault as a customer" NO, your POS software made it seem like the first transfer didn't go through, that is the ONLY reason I initiated the 2nd one. I took screenshots as I did it so stop LYING and making it seem like I"m the one who messed up.
ADMIT your mistakes. HAVE some customer service. DO what is right. So since I stopped payment on one of the transactions, the app asked me for ID again, make sure I wasn't a $$ launderer or whatever. FINE. I supplied the ID like it asked.
I repeatedly for weeks, and now months, asked Robin Hood to close my account. Once I liquidated everything, there was still some change left in the account I think?
Then after the 1st of the month, $6 hit the account due to the "gold" status. So not only could I not even use the account, because even though I sent the ID they asked for, my account was restricted. and now a -$5 and some odd change.
After much arguing with customer service, I went ahead and paid to get the account back to zero. asked two more times to have the account closed. The account was still restricted going into June, then POOF another $6 fee. Then I went off on Customer Service, because I have wanted the account closed for at least 6-8 weeks and it simply isn't getting done.
now they won't even answer me back, account is still restricted so I can't remove the Gold status, and I think they hope I will just let it go and take a $6 hit every month from now until kingdom come. HOW. ABOUT. AN. ANSWER. OR. PHONE. CALL.

I think these people are crooks. My husband passed away and I have been trying to close the account for more than 2 months. I have given them everything they've asked for: death certificate, my passport, my SSN, copy of the will, copy of our marriage certificate, etc. and they will NOT turn the funds (approx. $545) over to me. Now they don't even have the courtesy to respond to my e-mails asking for an update. They realize it would cost more than it's worth to get an attorney. So now my only outlet is to put out as many complaints as I can.

Garbage group of low life pond sm. Holding onto money thats money that I clearly am owed. They locked my account and simply wont return fudn that have cleared. Let everyone know its time this company goes bankrupt. Notifying the SEC, FINRA, and suing them in my local court.

Robinhood seems like a great company and platform at first. But, if you start trading options BEWARE. I have gotten assigned after hours multiple times. This isnt an issue except that it will freeze or restrict your account if if that assignment was part of a spread. SO, in short you are locked into a position and cant exercise your risk limiting spread. Their customer support has to do this. Even worse, I was then supposedly "margin trading" and my account got restricted for 90 days. In short a position that I took risking 140 dollars (collected 110 premium) assigned me ~170k and then when that wasnt in my account I got restricted. Their customer service was atrocious and accused me of complaining....

I recently detected fraudulent activity on my Robinhood account. Upon attempts to resolve the issue, Robinhood provided poor customer service and was neglectful in the responsibilities as a financial institution to protect my account. Upon self-resolution of the issue, Robinhood is currently denying me access to my funds due to anti-money laundering policies for which my situation should obviously be an exception to. On 3/12/19, someone other than me (a thief) linked a bank account that does not belong to me to my Robinhood account. This account showed as having the name ‘Total Checking’ and ended in the number *** On 3/18/19, the thief sold 21 shares of PPA stock within my Robinhood account in the amount of $1,205.40. On 3/20/19, the thief initiated a withdrawal in the amount of $1,290 from my Robinhood account to his/her bank account (the one that the thief linked to my Robinhood account in 3/12/19). On 3/22/19, I first noticed this activity on my Robinhood account and reported it via email while the withdrawal was still in pending status. On 3/25/19, I emailed again because no one had answered. The transaction was still in pending status and I assume could have been stopped. Also on 3/25/19, I attempted to call for support, however, the phone number I called is just a recording that instructs users to email for support. Again, the transaction was still in pending status and I assume could have been stopped. Later, on 3/25/19, the withdrawal transaction was completed, and the thief received my $1,290. I find that the customer service and support are lacking when a customer cannot reach a company for days by phone or by email. I feel that this withdrawal should have been non-existent, as I tried to have it stopped while it was still pending, and Robinhood was neglectful in their customer service and support. On 3/26/19, upon no response from Robinhood to assist and no way of knowing when I would receive a response or if I ever would, since the thief’s bank account was still linked to my Robinhood account and *** had just wrongfully received my funds, I initiated a transfer in the amount of $1,290 back into my Robinhood account from the thief’s bank account which is an action that can only be done from within the Robinhood account. On 3/27/19, I received a response to my support email, and my Robinhood account was disabled. In the email response, the person clearly didn't read my support request in the first place, because that person acted like I personally linked that bank account and performed all of the actions that the thief fraudulently performed on my Robinhood account, so I re-explained that this was someone performing fraudulent activity on my Robinhood account and explained that the initiated deposit was my attempt to rectify the situation since Robindhood would not help me or answer me. Also, this email informed me that phone support is not available - only email. With email support being the only option, in the financial field, it is important that customers can reach the company in less than 6 days, especially when time sensitive issues or fraudulent issues are common. Between 3/27/19 and 3/28/19, I followed all of the steps that were requested by Robinhood, including providing proof that my bank accounts were my bank accounts. On 3/29/19, the deposit that I initiated to get my money back was completed. If I hadn't taken this action, I am certain, based on the service I have received from Robinhood, that my money would not be in my account today. I also had to ask that the thief's bank account be unlinked from my Robinhood account. I feel that this should have been done for me without me having to request this as a responsible financial institution would take steps to protect customer accounts. On 4/5/19, I was informed that the investigation team found that I was correct in the fact that fraudulent activity was performed on my account, but they also determined it was 'no harm, no foul' as I made money on the sale of the PPA stock and the money was already back in my account. On 4/11/19, I asked when I can withdrawal my money. On 4/12/19, I received the response that I can transfer it into account ending 1073 - the thief's account! Also, this email informed me that I would only be able to withdrawal the funds to this account for the first 60 days and no other bank account due to policies to avoid money laundering. Also on 4/12/19, I had to re-explain again that this is not my bank account and explain the entire situation again. On 4/16/19, Robinhood asked me to provide proof that I am the owner of my bank accounts again, as I had already done on 3/27/19. Also on 4/16/19, I explained in detail the issue and explained why I feel that this withdrawal and deposit would never have happened if a thief had not stolen my money from Robinhood or if Robinhood would have stopped the withdrawal within the first 5 days of being notified that an unauthorized user had initiated a withdrawal to and unauthorized bank account. As these email support issues are simply replies to previous messages related to my issue, and there is a conversation visible in a string, I do not feel that it is appropriate for each response from Robinhood obviously show that the person responding is not reading history on the issues, previous email, or looking at notes on my account. Having money stolen and wrongfully kept from a person is frustrating enough, and the additional frustration added from indifference on the part of the company that the customer depends on is uncalled for and the epitome of poor service. On 4/17/19, Robinhood apologized and informed me that the issue that I have (not being able to withdrawal my funds to my personal bank account) within 3-5 business days. On 4/25/19, upon no response from Robinhood and no ability to withdrawal my funds, I emailed Robinhood again to follow up on the issue. Also on 4/25/19, Robinhood asked for screenshot of the error message I was getting when I tried to withdrawal the funds. I responded on 4/25/19 with a screenshot of the error. On 4/26/19, Robinhood responded to let me know that I can only withdrawal funds that have been deposited to the same account they were deposited from for the first 60 days. Again, clearly this person did not read the history on my account or any of the previous 28 emails that were exchanged back and forth between us. On 4/26/19, I explained again the issue and informed Robinhood that I would have to report this issue to the Revdex.com. I have not received a response from Robinhood. I cannot withdrawal my funds to date.

I’ve first downloaded this app in December of 2015 and since then I’ve executed day trades, options trading iron condors and crypto. Any time I executed trades all has been perfect ??. I’ve withdrawn funds and deposited funds no issues??.
So far I’ve referred 2 people and both of them received FREE stocks and so did I. (I received CHK and Zynga)
I decided to read some reviews when downloading an update and I was offended from what I seen because I’ve used this app for almost 5 years and have yet experience something bad.
On some of those bad reviews make me really wonder if some of these people lost money from not doing their homework on how to invest and now are blaming RobinHood which I would hope not because this company is trying to ENABLE us not take from us.

Horrible customer service. They took money out of my bank account 3 days ago and have been showing pending for 3 days on their app and site. Customer service acts like there is nothing they can do. I have sent them bank records and everything. Extremely unhelpful and I will be closing my accounts.

This company isn't a good company. They took money out my account without my permission. It took me about two months to get the account open closed. No one would talk to me by phone. They had to many people contacting me to try to get the issue fix. They take you through to much red tape. This is not a good company. I had to request over and over and over for them to close the account. I were told the account couldn't me close because the investment they chose for me had made money and the account had to be at zero before they could close the account. There were no money. I didn't get any money. This is not a good company. Get a company were you can speak to a person. Not good business to handle investment by email only.

This company gets your personal information including bank routing numbers. It then provides little to no customer service via email. Then repeatedly unauthorizes charges to your account after that. I have to get a new checking account now! I don' think its even legal for them to do that. Big time scam company!!!!!

I do not know what to do. My nerves are at the end with Robin Hood. I created my account on Robin Hood about the 24 of March with a refer of ***. She already got her free stock and used it and I am still struggled to get my account approved. I have been getting message saying I have multiple accounts use the other account. Perhaps you guys do not understand I created my account about 24 of March with a referral so I do not know why you say I have multiple accounts. If it created it twice on your side that I do not know what happen. I can log in with no problem it just says not approved. It took over 5 days to get my account denied with no clear reason. I kept on getting en email saying you have multiple accounts but Robin Hood took money from my account and still denied my. Which I do not understand here are some email correspondents. In summary they found my account. Then they thought it was my phone so uninstalled, updated and reinstalled. Still nothing. Now they said I have multiple accounts but one active so why cannot I access my free stock and still trade. In addition, they said go ahead if you like file the complaint. So that is what I am doing? Hopefully with the Revdex.com messaging them perhaps it will light a fire under them so I can get some help. Thanks, *** said. *** (Robinhood Help Center) Apr 2, 11:04 AM PDT Good morning *** Thank you for providing me with that information. Here is the information you requested on your open account: • Account Number: XXXXXX5 • Email: *** I also see that a deposit was initiated for $10.00 on March 24, 2019 from the account ending in ***. Please feel free to reply to this email with any other questions or concerns. Sincerely, *** Then *** followed with this. *** (Robinhood Help Center) Apr 2, 12:08 PM PDT Hi *** Please try the following steps to resolve your issue: • Log out and log into the Robinhood app • Uninstall and reinstall the Robinhood app • Turn your phone on and off and make sure no other apps are running in the background • Make sure you're on the latest version of the Robinhood app. If not, please download the latest version of the Android app, or download the latest version of the iOS app. • Make sure your device is running the latest operating system • Make sure you’re not connected to a Virtual Private Network (VPN) If these troubleshooting tips don’t help solve your issue, please respond to this email with the following information: • Your app version number (found at the bottom of the “Settings” tab) • Whether you’re on iOS or Android • Your phone’s operating system version number • Any screenshots you have of the issue • A description of your activity when the problem presented itself Please feel free to respond to this email if you have any additional questions. We're here to help. Sincerely, *** said. Hello, You applied more than once. All the applications are on file. However, you only have 1 active account. Nothing to worry about, as you can only have 1 account per person. Happy trading..... Sincerely, *** If I only have active account why does it say not approved? Why can I not get my free stock and start trading. *** said I can file a complain with you may file a complaint online with the Revdex.com or with the Financial Industry Regulatory Authority.

Our son Scott died in August 2018. He had an investment account at Robinhood. In October 2018, we began the process of contacting Robinhood to determine what steps we needed to go through to receive *** assets. At every step, we have immediately responded to every document request and immediately responded to every email sent by Robinhood. It is now 6 months later and we are no closer to receiving the assets that are legally ours. We were counting on this money to cover the significant end of life expenses we have incurred. The contact originally assigned to us was ***. He requested all the standard documentation (death certificate, proof of our identity, account number, etc.), which we immediately provided. Then multiple times he requested additional information not originally requested, and we again immediately complied. There were several times when he requested the same documentation we had already provided. There would often be several weeks between contacts from *** while we waited desperately for information. As far back as January 8, *** stated in an email "We reviewed your case and it appears you have all the documents on file, except a check request form". We of course followed up on that, only to have more documents requested. After 5 months (!) of back and forth with *** (all of which we have documented) we suddenly got an email from someone named ***, indicating he was our new contact on this issue. We then had to resubmit some of the same documents we had submitted months previous, and were also asked for new documents that had never been requested before, which we of course immediately provided. Then, last week, we received an email from someone named *** indicating he was now our contact and the cycle has started again. At multiple times in this whole ordeal, starting October 18, we have begged for a phone call with a live person, providing land and cell phone numbers, and they have refused to engage with us in any other manner than email. Please help! We are farmers in rural Nebraska in our 70s and this is all new and confusing to us.

When Robinhood opened their cryptocurrency product over a year ago, I was excited about the service they were offering and I purchased cryptocurrency on their platform. I did this with the understanding that, like is extremely common practice across all other cryptocurrency brokers / exchanges, I would be able to withdraw and transfer my cryptocurrency freely to another one of my cryptocurrency wallets. In fact, about one year ago, this Reddit thread includes a screenshot of Robinhood's policy, which not only states that withdrawals are possible, but even provides step-by-step instructions on how to do so: *** Recently I had a need to withdraw my Robinhood crypto and realized that that Robinhood help page now says cryptocurrency can no longer be withdrawn: ***-Cryptocurrency-Transfers-and-Deposits. This came as a shock to me: it appears their policy around this was changed silently without any notice to clients whatsoever. I felt this was similar to depositing money in a bank with the understanding that one could withdraw that money, and then the bank one day deciding to not allow withdrawals...and to not even tell any customer about the change or give them a chance to react. In light of this, I contacted Robinhood customer support via email. Despite describing my situation and escalating the issue to more than one support agent, they said nothing could be done. The last agent even told me in bold to go have a good day and didn't seem like they wanted to deal with my issue any further (which I found very rude).

ZERO stars. Scam and they steal your money. Customer service is TERRIBLE. Buyer beware. Avoid.

I have a brokerage account through the Robinhood app (***). When I signed up with Robinhood, I linked my own Wells Fargo bank account. I have roughly $4,300 in stocks, and I had $1,332 in cash reserves in the account available for me to use to buy more stock. Someone hacked into my Robinhood account, and changed the email address associated with my account so I wouldn't receive any email notifications about changes happening in my account. They also linked their Bank of America bank account (the Bank of America bank account number ends in 8297) to my Robinhood account and withdrew the $1,332 I had in cash reserves to their Bank of America bank account on 3/14/19. The Bank of America account was still linked to my Robinhood account when I noticed the theft on 3/15/19 and I tried to get my money back by reversing the money transfer. The money transfer to my Robinhood account has not gone through. I unlinked my Wells Fargo bank account from my Robinhood account. Robinhood closed my Robinhood account on 3/17/19, citing that the reverse money transfer recent transfer activity triggered an ACH compliance alert and asked me to provide a photo of my government-issued ID and bnk statement(s) showing that I'm the account holder of the linked bank account (the Bank of America one) to prove that the Bank of America bank account is mine so that they can open the Robinhood account back up. I explained to Robinhood that I cannot prove the Bank of America bank account is mine because it's not--it's the hacker's bank account. They responded by making the same request (asking for my ID & proof the linked bank account is mine). I tried again to explain. I can't access my stocks or sell the stocks and take the money out because Robinhood has closed my Robinhood account. They have also not taken any steps to investigate the security breach or said they would compensate me for my lost funds. I have not heard back from Robinhood since 3/20/19.

THEY REFUSE TO ISSUE A CORRECTED 1099 APEX tax form for 2018. I've been trying to contact them every way possible this past month. It's also arguably as brain-dead as it gets I cannot get them on the phone and they do not have an online chat to discuss this, given that it apparently is too complex for them to understand in an email exchange. (Good paper trail though to turn over to the IRS and attorney general's office.) Heck, took my dad about an hour when I was explaining all this to him. Heading into June 2018, I had purchased 300 shares of ***, average cost of about 96.19 a share. I sold three covered calls (AKA owning the collateral but "optioned" away the upside beyond a certain level) expiring 6/15, two with the 99 strike price and another with the 98 strike price. In theory my max profit (before any fees) on that should have been ~743. Instead, when AT&T completed its buyout of Time Warner -- which screwed everything up in their systems -- that week (53.75/shr cash + 1.43 AT&T shares per TWX or 431 AT&T shares received for my 300 TWX + 16125 cash), robinhood badly mishandled reporting the cost basis for tax purposes and on my APEX 1099 (page 37) for 2018 falsely, including falsely claiming I sold AT&T stock for 69/shr, WAY higher than AT&T stock ever traded (more than twice what the stock price closed at on 6/15), thereby claiming I had a (NONEXISTENT) profit in excess of 15 grand on what should have been a loss. (The cash component of AT&T's buyout was way more valuable than the 1.43 AT&T shares for every Time Warner share. Only thing worse than losing money is your broker lying on your taxes that it was a profit and refusing to fix it.) I did not have such a profit, otherwise my account value would have been increased by that obscene number. (Which if they gave me the cash from that nonexistent profit, I would pay the IRS and run along.) According to "Lonnie" at robinhood, supposedly the modified options contact meant I delivered those 429 AT&T shares + 16125 cash. Yet on page 6 of my APEX 1099 form, if that is how they came up with the inflated "proceeds" number, then they should have added 16125 to my cost basis to erase that 15008 profit and turn it into a 1117 loss on the stock side of the P&L. Although ~1425 minus 1117 does not equal the roughly 743 expected profit I mentioned above, this is relying on their cost basis numbers for that, which, if they messed one thing up, they probably messed another thing up too. (Although "*** claims there was no record of it, Monday 6/18 until 6/20 or 6/21, my account's value and cash balance was inflated by about 16125 by their mistake until *** took back the money that shouldn't have been there.) As I got to keep 2 of those AT&T shares (not required to turn over per the modified TWX covered calls post-AT&T merger), the official overall profit should have been no more than $809 (taxable or true economic profit) rather than the 16 grand gain shown on pages 6 and 9. Their completely useless automated/lazy responses included trying to claim it might have been a wash sale. (It wasn't and no such mention of a wash sale on those pages of the form.) Also they tried to give some other bizarre irrelevant responses such as using the latest version of the app: It's tax season, I need a corrected form 1099!

I downloaded the Robinhood app in December 2018 and linked my PayPal account to it immediately. The app said that to verify my account Robinhood would transfer two small amounts of money to my bank account and I would have to enter those in to the app. Well, finally after 6 days they transferred 4 amounts of money instead of 2 and then it didn't work, so customer support (after they finally got back to me 3 days later) told me to delete my account from the app and start over. I did it all again. This time it works. I transfer money from my PayPal and buy the $15.31 stock I've had my eye on. Next day, I've got an email from Robinhood saying that my deposit was reversed, they've given me a $9 reversal fee, and closed my account. To open my account back up I had to send them pictures of my ID, a bank statement from PayPal, and a reason why the deposit was reversed. I told them that I didn't reverse the deposit, PayPal didn't reverse it because I didn't ask them to, so I have no idea why. They opened my account again. To get the account open again took two weeks with customer service and I when I would get an email they would always be from a different person. Also, they just gave me robotic answers to everything, like they were just copy and pasting what they're supposed to say. I transferred just enough money to cover my stock and the $9 fee, $24.31. It sat there for a day and then immediately was reversed. I got another $9 fee, bringing my total now to -$33.31. I immediately reached out to Robinhood customer service asking them what the issue could be. They told me to upload my ID, bank statement, and reason for reversal again along with reaching out to PayPal to ask them if they allow transfers into Robinhood. I called PayPal and they said they allow transfers anywhere. At this point it had already been 10 days since the deposit reversal and I had already been emailing with five different customer service people and gotten the exact same copy and pasted paragraph (some of them scattered in a tiny bit of original content here and there.) I asked if there was any way to talk to someone on the phone because I felt like nobody was actually addressing my concern. The next email was surprisingly not copy and pasted. I was told that they don't have phone support right now and my account was unrestricted. He said the reason all of this was happening was because they don't accept PayPal as a funding source for Robinhood accounts. Remember those bank statements that I had to show them both times the deposit was reversed? They have a big PayPal logo on the top, and nobody said anything about not having PayPal as a funding source!! I even mentioned that I was using PayPal multiple times in my emails with alllllll these different customer service agents and nobody said a word, until this guy. I've looked through the website too and can't find anything about not using PayPal. When I tried to explain this to the customer service agent he said that he would remove one of the $9 fees, but only after I paid the -$33.31 balance. That didn't make much sense to me. Why would I pay for something that is just going to be paid back to me? I knew I couldn't use PayPal but that is my only banking source, so I was trying to figure out a different bank and Robinhood sold my stock as a margin call to make up for the negative balance that they created. I still have a -$12.00 balance that I don't know how to take care of because I only use PayPal and they don't make it clear that you can't use that to fund your account.

I was invited to try Robinhood's Gold program. I read all the info and decided to try it since the info stated that I did not need to deposit money or invest other than what I normally did: deposit at my convenience, from my bank, which up to this point had been working fine, for a small monthly charge of $6.00 monthly. Robinhood then initiated a rather large deposit to themselves debited from my bank ,twice, which I had not authorized, and which caused two returned item fees. I tried correcting this with Robinhood, which do not offer phone support, through emails. The responses were of no help and vague. My account was now "inactive" because of their reversed deposits, and the small deposits that I had authorized were now held captive, along with the funds accumulated in my portfolio. I can not transfer to my bank, withdraw funds or complete any other actions or transactions. I just want my portfolio earnings, bank fees and non-posted deposits that I authorized returned to my bank account. I can not even unlink my bank. And Robinhood is trying to charge me for reverseal of fees that were unauthorized transactions on their part to begin with.

I opened a brokerage/investment account with this platform in 2015. Due to very obvious poor handling of almost everything I decided not to fund the account and closed it in January 2016. Again...I never put a single dollar in my account. I continue to receive emails about "my account" three years later. They have mentioned that my account statements and tax documents are available. I have reached out to them directly many times and explained that I no longer have an account and nothing should be generated by them. I asked to me removed from all of their systems completely. Again and agin I keep getting emails. I receive auto responses regarding their email procedures when I try to contact them. They have no phone numbers listed where you can actually reach a person. I received another email this year to which I submitted another complaint. I came to work yesterday to find a paper statement with an account number and everything. I have no idea what to do from here. They are incorrectly using my information, have kept an account open 3 years past my closing it, continue to email and mail me information after multiple attempts to stop it.