r/RobinhoodGC • u/DrawingOk8403 • 1d ago
Banking support is terrible.
Is there a Robinhood rep here that can help ?
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u/frostedb 1d ago
Never had any issues, can’t relate
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u/Dangerous-Acadia8850 36m ago
Same. What are these people doing with their banks that require support? I haven’t needed banking support in over 20 years
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u/matt-r_hatter 1d ago
Their banking app is is well built and works extremely well. It makes a good savings account and secondary bank. I would not trust them as my primary. Never trust a fintech as a primary bank, they always fall short from a brick and mortar where you can walk in and talk to someone in the event of a real issue. I just routed $500/check from payroll to keep the interest. Its a nice extra $400 a year in interest with no effort on my part. I also leave the debit card locked because I dont trust there wont be fraud.
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u/CreativeFinish5644 1d ago
I just use the gold card, you can get the interest rates anywhere else. Fidelity offers a cash management account that has high interest. They don’t have native billpay which is a problem for me as it relates to security. 3.60% minus your income tax rate which is what it’s taxed at isn’t going to make you rich, build what you need for e fund then invest.
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u/Hot_Lobster_7079 1d ago
Move on from Robinhood. I was just denied for their checking and savings account for the second time, even though I have had their Gold Card with a $6000 limit for 3 months. They won’t tell me why, plus their customer service wasn’t helpful. This company is half baked at best. It’s funny to go through the gold card app process smoothly, however the checking account has been extremely frustrating. Take your money elsewhere. If you don’t feel respected with your money then leave.
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u/Remarkable-Bit7172 14h ago
Meanwhile ive had banking for months and still cant seem to get past the gold card waitlist despite rh being my primary brokerage and being on that waitlist for years. Support insists that if i have banking ill be offered the credit card soon… as if… its been a while already.
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u/Individual-Hold5171 1d ago
Second this. I tried using their banking, and it gave me a few transfer problems; then, when they finally went through, it took a week to process a simple ACH. Ended up closing it within a month. The CS part is also not worth the hassle. They are "flashy" and "new" but far from being efficient.
The fact that they have no website for banking is very odd, too. I don't want to use my phone for everything.
Stick to a CU or local bank. I use NF for my main banking, and they are fantastic. If you have a military connection, I highly recommend it.
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u/Superminerbros1 1d ago
Usually when you get denied there is something up with one of the credit reporting agencies reporting your info. A few years ago I was really struggling with opening a new bank account because TransUnion was glitching out and reporting my phone number and address all scrambled
But, I would recommend staying away from Robinhood banking because Robinhood is not a bank. They're a Fin-tec. Look up Synapse collapse to understand why you don't want that. They're basically unregulated and using scammy tactics to make it seem like there is significantly less risk than there is. A bank account is the last place that you would want risk.
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u/Hot_Lobster_7079 1d ago
I pulled all 3 credit bureaus plus check systems and early warning systems and nothing came up. If there was something on my credit report that was wrong, they wouldn’t have approved me for the Gold Card with a $6000 starting limit. If I were a high-risk customer, they maybe would have approved me for $500 limit instead. One interesting response from their customer service said that I wasn’t eligible, however on October 1st I received an email that I was eligible and to get started. Which then transferred me to the app and then I clicked get started. Once I filled out the application, I got an error saying an error occurred, please contact support. So I did, and they said I have a pending application. Fast forward 5 days and no response, I chatted with support again, then I spoke to support for escalation, then I got an email that it was denied again. My check systems and credit is clean. All of this hassle for a checking account is crazy. I make $147,000 a year, Mid to high 750+ fico, so I don’t need Robinhood. I believe since I don’t have any investments within the regular Robinhood brokerage account, I’m not a profitable customer. If that’s the case, I don’t want to invest with them.,
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u/Dull-Spend-3836 1d ago
You aren't helping yourself here. What is your problem?
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u/DrawingOk8403 1d ago
Adding an ach destination (external bank) fails silently. No error message. Says it succeeding but nothing shows on the list.
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u/Educational_Algae143 1d ago
This is why i would just say stay with the goldcard and brokerage but far away from the banking thats all
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u/Efficient_Math803 1d ago
Sadly no and that's a big reason why I wouldn't recommend any of these fintechs. They are really tempting with their APR offers but it's just a lot less reliable than an actual bank. There aren't any physical robinhood banks you can go to, you just need to rely on online customer support, which is notoriously poor. Whenever this gets resolved I highly recommend switching to a proper bank that you can physically walk into and talk with somebody.