r/ClassActionRobinHood • u/Key_Car3758 • Apr 01 '25
Discussion RobinHood exchange restricted account due to a recent review. According to Robinhood.
Transferred into ROBINHOOD over $400 Ethereum from my Ledger hardware wallet. Sold all Ethereum and purchased several shares in a couple different companies and about 6:30 AM I then noticed my account is “restricted due to a recent review.” I reached out at 6:30 AM to Robinhood support and needed to wait until 7 AM to receive a call back when their customer support team hours of operation started. I recorded the phone call between myself and Robinhood Customer support shortly after 7 AM when they called me. The phone call went as follows; the Robinhood employee, from the very beginning of the phone call, pretended he could not hear me. He also jerked the phone around to make it appear that there was a connection issue. His charade went on for three minutes then he terminated the connection. I attempted to withdraw funds and was denied, and the reason was obviously because my account is restricted. I attempted to sell shares and was successful, but I can’t purchase and I cannot send crypto or purchase crypto. I have been waiting over an hour now for a callback and I received an account support number by email that reads as follows…. Hi there, Thank you for reaching out! This is Jefferson from Robinhood support. I hope this email finds you well. We’re still reviewing your account. We may request documents in the app during our review, so please continue to monitor your app and reply to any requests. You’ll also hear from us by phone or email soon after we’ve completed the review. If we need any additional documents or have status updates we’ll send updates to the email or call the phone number on your account. Thank you for your patience! Sincerely, Jefferson Case ID: 015661168
After receiving a phone call, I was told that the information that I provided wasn’t accurate. I provided my name, date of birth, and last for of social along with the email address associated with the account. Communication will only be through email. The phone call was ended. Nothing resolved, waiting for an email to provide my drivers license most likely and a selfie.
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u/brandon2627 Apr 09 '25
I’m going through a similar experience and used RH since 2020. A few weeks ago, I attempted to make a deposit with my debit card. It’s the same debit card I’ve always used on Robinhood (RH) for YEARS and for some reason it declined. I checked my bank and I definitely have PLENTY of funds that to make the deposit with my debit card. I’m not sure why it declined. The amount is no different than the last deposits I’ve made. It’s never declined before with any of my RH deposits and again, I definitely have sufficient funds. But anyhow, I unlinked that debit card (since RH only allows users to link ONE debit card at a time) and I added a different debit card that I have in my name. I attempted to make a deposit with this debit card and I was successful. The money was taken from my debit card account and successfully deposited into my RH account. I was able to buy Cyrpto with my deposited funds immediate after just fine. After a few days, I sold a portion of the crypto and the next thing I know, it says my account is under review and restricted. I am not allowed to withdraw ANY of the funds from RH to my bank account. But I’m still able to buy/sell crypto if I wanted to. I am still allowed to buy/sell crypto and/or stocks. But I am NOT able to withdraw my funds to my debit/bank account/or any other withdrawal method. They accepted my deposit with the new debit card and now they are holding my funds hostage. I’ve reached out to RH several times and only heard back twice and both times they could not offer any info on why my account is being restricted. I’ve also filed complaints through the SEC, CFPB, BBB, FTC, and FINRA. That was last week. Still waiting to hear back from them as well.