DoNotPay Can Help If You've Had Your Robinhood Account Suspended
Founded in April 2013, Robinhood allows users to engage in commission-free investing with multiple financial instruments including stocks, funds, options, and gold. You can also use Robinhood to invest in various cryptocurrencies with zero buying and selling fees. For these reasons alone, having your can be devastating. Whether short-term or permanent, account suspension will eliminate your access to incredible earning opportunities. Moreover, if your account suspension occurs while you have a significant amount of money in action, you may be worried about how you'll get these funds back.
The good news is that Robinhood has clear instructions for dealing with , account closures, and other account changes that prevent investors from managing or building their portfolios. Best of all, DoNotPay can help you follow these instructions to the letter, and can even put legal pressure on Robinhood to acknowledge your suspension appeal.
With Appeal Banned Accounts from DoNotPay, you can greatly increase your chances of successfully appealing account bans on multiple social networking, gaming, and financial platforms.
Common Reasons For Having a Robinhood Account Suspended
If you've just been notified of a , you've probably got a lot of questions. For instance, you may be wondering
- Why is my account suspended?
- Can I appeal my suspension?
- What's the best way to go about getting unbanned?
Robinhood account suspensions are typically the result of having violated its Terms and Conditions/Terms of Service Agreement. Among some of the more common missteps that result in account suspension or outright account closure are
- Transmitting or uploading any images or other materials that infringe upon the trade secrets, copyrights, privacy rights, or proprietary rights of any person or entity
- Misrepresenting or falsely stating your affiliations with any entities or persons
- Uploading or transmitting harmful, abusive, or unlawful content
- Using the Robinhood platform to harm a minor in any way
- Uploading or transmitting SPAM mail
- Interfering with or disrupting Robinhood servers
- Intentional or unintentional violation of state, federal, or local laws about online trading
If Robinhood determines your offense to be harmful to others or if you violate the Robinhood Terms of Service multiple times, your account may be permanently blocked. Unlike a suspended account, a blocked account may not be possible to recover. Robinhood and many other platforms typically block accounts permanently when
- Users repeatedly violate their terms of service
- Account users have had their appeals denied
- Serious federal, state, or local laws have been broken
Compliance-Related Account Restrictions
Regulations established and enforced by the United States Security Exchange Commission prohibit personal trading of any stock for which you are listed as a control person for that same entity. If you have recently listed yourself as a control person for any company, but have continued trading its stock, this is the most likely reason for any restriction placed on your account. Once the issue is identified, your ability to trade this stock will be blocked for compliance reasons. If you've mistakenly reported yourself as a control person or if you are no longer acting as a control person, you can contact the Robinhood Support Team to have the account restriction removed.
Account Suspensions Due to Negative Account Balances
Apart from violations of the Robinhood Terms and Conditions/Terms of Service Agreement, and account restrictions that are placed for compliance purposes, Robinhood additionally suspends accounts for having negative or insufficient balances.
If you have a negative account balance for any reason, transfer funds into your account to bring your balance current. Once the necessary funds have been posted, reach out to support to have the suspension or restriction reversed.
Restrictions for Investors That Use Instant and Gold Margin Accounts
Both Instant Margin and Gold Margin accounts have special limitations and requirements that users must adhere to. For instance, with either of these account types, if you make four or more consecutive day trades on this platform, Robinhood will label you as a pattern daytrader and restrict you from completing any further day trades for a full 90 days. The only way to get around this limitation is by maintaining an account balance of $25k or greater.
What to Do If You Get Banned From Robinhood
There are several simple steps that you should take if your Robinhood account has been suspended. These include
- Determine whether your account has been restricted, banned, or suspended
- Identify the underlying reason
- Contact Robinhood Support and remedy the problem
In some instances, this can be as easy as clearing up a negative account balance. In others, you might need to submit a formal appeal letter. When you have DoNotPay write your appeal letter for you, you can make the most of this single opportunity to have your account privileges restored.
Contact Information for Robinhood
You can send written appeal letters to:
85 Willow Rd.
Menlo Park, CA 94025
You can call Robinhood using the Robinhood mobile app and follow the online instructions for
Get Your Robinhood Account Back With DoNotPay
In the event of a suspended account, you generally only have one opportunity to state your case for an appeal. If you don't have experience in writing appeal letters and you don't know which legal protections to cite, DoNotPay can help.
All you have to do is
- Log in to your DoNotPay account and locate the Unban My Account product.
- Answer a few questions related to your banned account.
- Click on the Sign and Submit button.
DoNotPay will generate a customized appeal letter in less than five minutes and send it directly to the company. It will contain a two-week deadline for the company to respond.
How To Avoid Having Your Robinhood Account Suspended
Having a Robinhood account suspended, restricted, or blocked is not uncommon. This company regularly restricts high-activity accounts for various compliance reasons. The best way to avoid having limitations placed on your Robinhood account is to familiarize yourself with all restricted activities before you start trading, purchasing cryptocurrency, or performing any other actions on this platform.
You can access a comprehensive list of restricted activities on Robinhood here. Among the activities that are most likely to result in temporary account restrictions are
- Transfer reversals (due to insufficient funds or wrong account types)
- Information that's outdated or incorrect
- Levies on your account
- Fraud inquiries
DoNotPay Can Help You Appeal Suspended Accounts on Any Platform
Just like every other product from DoNotPay, the DoNotPay Appeal Banned Accounts product works across all companies and platforms with one click. This means that you can appeal your suspended accounts with multiple companies without having to invest a ton of effort. This includes appealing banned accounts with
What Else Can DoNotPay Do?
DoNotPay is a powerful, AI-driven robot lawyer. In addition to getting help writing an appeal letter after you've had your , you can use DoNotPay to get answers to important legal and financial questions. You can also use DoNotPay to take care of many other challenging, frustrating, or complex tasks including
- Getting copyright protection for your intellectual property and creative ideas
- Deleting old accounts that you're no longer using and no longer want
- Protecting yourself from identity theft, and resolving current identity theft issues
- Recovering forgotten account passwords
for DoNotPay now to start solving problems, saving cash, and saving time.