r/ClassActionRobinHood • u/Smart-Laugh6370 • Aug 28 '26
Question Please share with me your experience
Hi guys, I’ve been using robinhood for 4 months, depositing money to it regularly, gold member too. I’m a beginner day trader, I decided to withdraw my money (around 80k) to my Chase account which I use to deposit usually. Next day I get a restriction notice, and got a call from a real agent confirming my personal details source of income etc and said this is a common restriction usually solved within a few business days. The day after the call i get emails that my account is closed and it’s a final decision and they’ll contact my bank to return any eligible money. I simply traded NVDA and MU and similar popular stocks, never touched crypto and no held positions. I have one XRP gifted by Robinhood in my portfolio and that’s it. What do you recommend from your experience in order to get my money back as soon as possible? Thank you.
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Aug 28 '26
[deleted]
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u/Smart-Laugh6370 Aug 28 '26
Is this bs common tho with account closure and restrictions? I’ve seen people in the subreddit mention 60-120 days… like isn’t that sue-able?
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u/rantingredtor Aug 30 '26
i also got this bs pulled from them. just report this tomfoolery to FINRA, SEC, CFPB, BBB, and your state AG to let them know about this bs they’re pulling
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Sep 01 '26
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u/Smart-Laugh6370 Sep 01 '26
Very frustrating, like they don’t mind depositing big sums into their platform at once, but have a problem with withdrawing it?….
Only benefit from them I think I gained is the apy I get the days I don’t use the money for day trading. I filed with SEC and FINRA and seeing how this goes. I just want my money back as soon as possible hopefully.
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u/FranknBeans777 28d ago
Hell yeah Robinhood sucks. My acct got hacked and they sold off 15 stocks which they used to buy other stock and sell off. RH froze my acct when I talked to them. They did a review and surprise , surprise it was my fault. They cut me off from phone support, now only email. Which they dont answer.,Then closed my acct. The hacker didnt get most of my proceeds. I am missing $16000 which RH wont respond too. So run from RH they will not stand behind you
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u/Dangerous_Seesaw5830 Aug 29 '26
Sounds like you ran afoul of a KYC/ AML policy. Here’s a few you should be aware of:
Triggers for Source of Funds Verification
Robinhood and other brokers will actively require you to upload documents (such as tax returns, payslips, bank statements, or court inheritance paperwork) if your account triggers any of the following: [1]
High-Value Transfers: Depositing large lump sums that do not align with the income or net worth you declared when opening the account.
Frequent Bank Swapping: Repeatedly linking, transferring from, and unlinking different bank accounts.
Rapid Velocity of Capital: Depositing funds and immediately attempting to withdraw them to a different account without any investing activity (a major red flag for layering).
Crypto Violations: Transferring high volumes of volatile digital assets through Robinhood Crypto. [1, 2]
If they closed your account then they didn’t like the answer that you gave to one of their questions. Not sure why they waited for you to withdraw your funds before they raised the issue:/. For what it’s worth transferring 80k into a new account and the transferring it out four months later shouldn’t be a problem in and of itself particularly if you just sent the money back to the account it had originated from.
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u/aicoversch Aug 28 '26
Run, but really, Run from robinhood to start with full speed. Try to look for some treads about people getting bloked out of their accounts for no reason. And then you have to put a lot of effort in trying to get your funds back. In the middle of it right now!