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I'm thrilled to share tips about the process because despite reaching resolution, I think Robinhood has more to learn about how to appropriately handle this sit
by acaloiar 4y ago
I'm thrilled to share tips about the process because despite reaching resolution, I think Robinhood has more to learn about how to appropriately handle this situation. There was a point in my process when there were 5 business-days of radio silence from support. IMO a support request from a client requesting access to their brokerage cash should be handled most expeditiously.
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Note: It was difficult to tell as a consumer which government entity was the most appropriate place with which to file a complaint. I will say that I filed both a CFTC "TCR" report and a SEC Investor Complaint form. From the former, I received no additional feedback (roughly three weeks later). From the latter, I received confirmation of the report immediately, and then confirmation of the complaint having been forwarded to Robinhood four days later. Shortly after that second confirmation is when I received a response from Robinhood support that the withdrawal ban on my account had been lifted.
File your report here: https://www.sec.gov/oiea/Complaint.html https://www.sec.gov/oiea/Complaint.html
Be specific about the action you've taken so far. Include your Robinhood Support request ID(s). Don't be heated or incendiary; simply provide the facts. Knowing Robinhood Support, the facts are sufficient for the SEC to take your complaint seriously.
Good luck.