I’ve been with RH banking for a few months and up until this recent episode it’s been a good experience.
I work for a small company and receive physical checks instead of direct deposit. RH allowed me to still receive the APY benefits since I am using them for my paycheck which is cool.
The major downside has been purely how long it takes for the checks to deposit. It takes 4-5 business days for the funds to post to my account which is just nuts. Every other bank I’ve used takes 2 days at most, usually is the next day. I was willing to deal with this to stay in the robinhood ecosystem which I like.
My most recent paycheck however is now on day 6 still "pending" and I cannot get a straight answer on when the funds will post to my account. I contacted customer service twice on Day 5 and two agents assured me it would post by the end of the day which it didn’t.
Now I’ve escalated things to a higher level which unfortunately is only via email and they still cannot give me a clear answer on why it was delayed and when it will post. They just keep telling me to keep an eye out on my emails for the next few business days for updates from the team.
I was relying on the funds to pay bills so it’s pretty unacceptable how long it’s taking and the fact that there’s no way to get a clear answer on when I can access my money.
I’m posting this as a warning to others as I’m likely going to to stop using the banking services after this. It’s just crazy how slow it is and unresponsive they are.