Top Consumer Question About Robinhood: “Is It Safe?”

Robinhood.com is an investment platform, or online broker, designed for young and new investors. The platform users are interested in stocks, bonds, and cryptocurrencies, and they use it to invest in fractional shares of various investments. Since there are no commissions, it is easy to start investing money on Robinhood, but sometimes these investors run into trouble when it’s time to pull money out of the platform again.

Customers considering investing money in Robinhood.com want to know that it’s safe. They want to be sure when they call the Robinhood customer service number that someone will answer. Who better to discuss the perks and drawbacks of Robinhood customer service than the investors who work on the platform regularly?

Number of Robinhood Reviews – 12K

Robinhood Rating* – 1.7⭐⭐

Claimed Losses – $20.8M

Issues Resolved – 54

Successful Calls – 4%/74.8K

Here we have compiled some of the most common questions and consumer experiences:

• How to contact Robinhood customer service?
• How withdraw cash from Robinhood?
• Is Robinhood safe?
• How does it work?
• How to delete the account?

How to Contact Robinhood Customer Service?

There are many ways to contact Robinhood customer service. While there are options available, some users still have frustrations trying to contact their support. Customers have left many Robinhood reviews about customer service experiences, including challenges simply finding the contact options.

Contact Robinhood by Email

Robinhood.com seems to prefer email as a form of communication with customers. The Robinhood customer service email is report@robinhood.com for issues with scams or possible questions. The Contact Us section of the website also lists these Robinhood customer service emails: help@robinhood.com and support@robinhood.com for additional questions. Finally, you can also use the app on your mobile device to contact Robinhood customer support through email from the app’s help menu.

Contact Robinhood by Phone

If you would rather contact Robinhood customer support by phone, the investment platform has created new phone options for opening a support ticket. In the Support section of www.robinhood.com, there is information about speaking with a representative over the phone. If you’re having trouble with your account, for example, trying to figure out how to upload a bank statement to Robinhood.com or access funds for withdrawal, you can request a phone call from them.

To request a phone call from Robinhood customer care, you are instructed to log into your account, select the Contact Us option and request a call. The company will contact you from there. There is not a Robinhood customer service number listed to simply call, although you may be successful by calling (650) 294-4858.

Contact Robinhood on Social Media

You may also bring your Robinhood complaints to the company through social media accounts. The company does support some social media accounts on Facebook, Twitter, LinkedIn, and Instagram. On their social pages, you are allowed to leave comments on posts, where some customers ask questions or air grievances. Direct contact options through social media may be limited.

How to Withdraw Cash from Robinhood?

Of course, once you get your money into the app, you’ll want to know how to get it – and your dividends – out again. Robinhood cash management is explained in the Robinhood customer support help center. There you will find instructions on Robinhood withdrawable cash.

Despite several back-and-forth interactions through Robinhood customer service email, one frustrated customer left both written and video reviews about his experiences trying to withdraw money from his account.

According to his Robinhood review, he has “7k invested and 20k just sitting there” but the company is not allowing him to withdraw the funds. In his video review, however, the customer indicated that while he is frustrated with the situation, he would like to continue trading with the company if he’s simply able to withdraw his own funds again. This indicates the frustration he is experiencing is based on Robinhood withdrawal policies, not the platform overall. 

Thus if you are wondering how to withdraw cash from Robinhood, the process may require some knowledge. After setting up a brokerage account with the platform, you will be sent a debit card for access to your Robinhood withdrawable cash

You have other options to withdraw cash, but according to Robinhood reviews, these don’t always work as well as you might hope. According to the website instructions, to withdraw money from Robinhood, you simply select a transfer from your account once you are inside the app. This should initiate a transfer to the bank you have connected to your account.

There are some limitations on Robinhood cash withdrawals. This is what has spurred several calls made by consumers to the Robinhood customer service phone number. You should note that there is a settlement period and a waiting period on new deposits. It often frustrates customers and can lead to a new Robinhood support ticket when money doesn’t move fast enough.

According to their FAQ page about withdrawing cash from the Robinhood app, you may not withdraw funds for at least two days after a trading day due to settlement. It should also be noted that you may not withdraw any funds related to your Robinhood free stock for at least thirty days.

Is Robinhood Safe?

Customers want to be able to trust their financial institutions. So, is Robinhood safe? Some of the various Robinhood complaints might suggest there are some areas of concern.

In her Robinhood review, Kimberly explains that she trusted the app enough to invest more than $61,000. Her trouble started with her Robinhood withdrawable cash. As Kimberly reports, the “issue seems to be my bank account not linked to Robinhood, so I cannot withdrawal my cash. I have asked since 2/17 for Robinhood to make the 2 small deposits to verify my account.”

According to her Robinhood complaints, the company made the two small deposits but revoked them, leaving Kimberly, and her funds stuck. She tried contacting the Robinhood contact number about the two deposits she needed to verify her account for the withdrawal but got stuck again. According to her Robinhood review, “Every message comes back the same....It will take 1-3 days to resolve the matter" That is a joke.”

Even when she called the Robinhood customer service phone number, she found the “phone numbers they have listed do not work, or you can't speak to anyone.”

Kimberly’s initial experience is consistent with the company policies as they are stated on the Robinhood withdrawal FAQ page. A bank account must be linked to the platform before funds can be invested. If you try to pull withdrawable cash on Robinhood out through a different account, there will be a few road bumps including additional information and required assistance from the support team.

So, is Robinhood safe? For most customers, the app hasn’t posed many issues. But for some, like Kimberly who has not yet shared any resolution to her issue, the platform can be dangerously expensive.

How Does Robinhood Work?

To buy and sell through this platform, users simply link the app to their bank account to fund their Robinhood account. Once they have funds, they can buy and sell stocks and cryptocurrencies by simply clicking a button or two on the screen. The Robinhood app is set up to have some game-like features as well, such as scratching off virtual lottery tickets or confetti that rains down after some transactions. These features make Robinhood and investing feel more like fun and less like stuffy transactions.

Robinhood customer support offers several options for trading within the platform.

• Stocks – Investors can buy as little as $1 worth of a particular company’s stock or a bundled stock option called ETFs.
• Options – Investors also have the opportunity to try and predict or time the market using put and call options. The company provides a large learning section about how to trade options on Robinhood.
• Gold– Robinhood users have the option to invest in gold as well as stocks and cryptocurrencies.
• Cryptocurrency – Users are able to buy, hold, and sell cryptocurrencies like Bitcoin, Dogecoin, and Ethereum.

Many Robinhood reviews explain how simple it is to start investing. There are more steps to consider, however, when you try to figure out how to withdraw cash from Robinhood.

In both cases, you will need to link your preferred bank account. There are multiple levels of authentication to help answer the question: is Robinhood safe? Then, once you are linked, you can transfer money into the platform to invest. After the appropriate time for transactions and waiting periods, you can withdraw funds.

If you run into trouble, you can always contact Robinhood customer service for help. You have the option to call the Robinhood customer service phone number, or you can try emailing customer service at support@robinhood.com. Customer service can also help you determine how to delete Robinhood account access if needed.

How to Delete a Robinhood Account?

You don’t have to contact support to sort out how to delete Robinhood account access. The process is straightforward. The platform has the steps for how to delete Robinhood account access when you’re ready to close your account.

To have your account deactivated, you go through Settings in the app and then click on Account Information. From there you select Deactivate Account and follow the steps listed. Your account will need to be at $0.00 to confirm your deactivation, so be sure you know how to withdraw cash from Robinhood before trying to close your account.

Customers who run into trouble or have questions are encouraged to contact Robinhood customer service with questions. You can reach out for help by calling the Robinhood customer service number. If you prefer a written correspondence with support representatives, you may also contact the company via this Robinhood customer service email: support@robinhood.com.

If closing a Robinhood account doesn’t feel thorough enough, you can also unlink your bank account before deactivating your account. In Robinhood, remove bank account information in the app by logging into your account, selecting banking from the account menu, and choosing “remove” for the bank account in question.

If you run into trouble or have additional complaints, contact the company to open a Robinhood support ticket for help.

Have you had your own experiences with Robinhood.com? Share your story with others by leaving a Robinhood review on PissedConsumer, and help others minimize their risks.

*The company ratings on the PissedConsumer website are calculated using a mathematical algorithm that evaluates the information in the company’s profile. The algorithm parameters are: users’ rating, the number of resolved issues, the number of company responses and more. The PissedConsumer algorithm is also subject to change in the future.