Robinhood adds 24/7 phone support for users

\n

The online broker Robinhood has launched a 24/7 phone support service.

\n\n\n\n

Let our people call you(r people) 24/7https://t.co/JShQEidn7c pic.twitter.com/iWnw6tPg9w

— Robinhood (@RobinhoodApp) October 5, 2021

\n\n\n\n

\”Request a call in the app to speak live with a member of our team. We … believe that round-the-clock telephone support without days off is an important step on the path to improving the reliability, accessibility and understanding of our services and the financial markets,\” Robinhood said.

\n\n\n\n

The company added that it is working on a solution that will allow users to contact support when they are unable to log into their account. By the end of the year the broker pledged to more than double the size of its support staff.

\n\n\n\n

Robinhood’s Chief Operating Officer Kristin Brown, in comments to Decrypt, noted that in addition to the new service the broker \”took steps to address the root causes of outages in March 2020 and to reduce the risk of future incidents.\”

\n\n\n\n

Earlier it became known that Robinhoodwill pay a record $70 million penalty to settle a dispute with FINRA. In March the firm assessed these costs at $26.6 million. The regulator noted frequent technical outages that occurred in the app between 2018 and 2021.

\n\n\n\n

The move may have been spurred by community criticism as well. In June a group of investors filed a class action against the bitcoin exchange Coinbase — they claimed the platform unlawfully blocked their accounts for up to several months. Some customers said they could not reach the company promptly.

\n\n\n\n

In February 2021, the parents of 20-year-old Alex Kerns accused Robinhood of driving their son to suicide. The trader received an erroneous notification of a negative balance of $730,000, could not reach support and took his own life.

\n\n\n\n

In June the Consumer Financial Protection Bureau noted a rise in complaints from US citizens about the operation of cryptocurrency exchanges.

\n\n\n\n

Subscribe to ForkLog news on Facebook!

\n