So you have applied for the Robinhood application, and it has been under review for a long time. Do not worry or panic, as in this article, you will learn about how long it takes to get account verification and why it may be taking too long?
Robinhood Application Under Review
When you create an account with Robinhood, then the process involves verification of your application. This means that they verify the details provided by you, like your identity, to help protect your account and prevent any fraud.
And, so, they ask for details such as your Social Security Number, which as per the application, is only used to verify your identity and prevent fraud.
Why Is My Robinhood Application Under Review?
Robinhood Application is Under Review because the verification process is there and the platform is required to comply with the following laws and rules:
- The platform requests for personal information to comply with the US government laws & FINRA rules. Therefore, it asks for financial & tax identification information.
- Since Robinhood complies with the SEC customer identification rule of the USA Patriot Act, 2001, it includes procedures to record and maintain details of people trying to make an account on the platform.
- Robinhood is also required to check the details of its customers and ensure they’re not associated with any terrorist organization.
To ensure all these compliances and prevent frauds, all the Robinhood applications are thoroughly reviewed.
Also Read: This Stock is Not Supported on Robinhood
Robinhood Application Under Review Time
Essentially when you apply for Robinhood, the company requires some time to verify your identity and the documents you have submitted. The verification process may take anywhere between:
After sending your application, within the first 1-2 trading days, you’ll receive an email. The email will either confirm your application’s approval or it’ll request more information.
If Robinhood requested you for more information, then you’d be required to provide the documents via the secure link provided by them. Thereafter, you’d be required to wait for at least 5-7 trading days to hear the final verdict on your application’s approval.
How To Resolve “Robinhood Application Under Review”?
The platform will take some time to approve your application. It can be anywhere between a few minutes to 2 days. To ensure that it takes as little time as possible, ensure that you provide all the details correctly. In case, you’re asked to provide more information, make sure you provide the right information.
Also Read: Robinhood Account Deficit
Why Is It Taking So Long For My Robinhood Account To Be Approved?
The reason behind the Robinhood account taking too long to be approved is linked to the time being taken to verify documents. It can be an issue, and you can ask a Robinhood executive to guide you through the process.
Why Is My Robinhood Application Still Pending?
If you’ve been waiting for about five days, it’s a perfectly normal time for an application to be pending. However, if it is taking longer than expected, you can get in touch through a call or email to the company.
You have now learned about the verification process and why it may take longer than expected to get verified. Do not worry; as long as your documents do not have a discrepancy in them, there shouldn’t be any issues with it.
Also Read: Why does Robinhood Need my Bank Login?
Frequently Asked Questions
Is Robinhood Legit?
Yes, Robinhood is entirely legit and is verified by the US government, significant regulators across the globe.
Is My Information Secure With Robinhood?
Yes, absolutely all the information secured in the Robinhood servers is fully encrypted and secured in their servers. They employ the highest level of security and comply with global data regulations.