Robinhood Application Under Review? Tips To Speed It Up

Hey there! Have you recently applied for a Robinhood account only to find your application stuck in the dreaded "under review" status limbo? I totally get it – I’ve been there too. Having your investing dreams put on hold because Robinhood is taking their sweet time to verify your account can be frustrating.

But don’t worry, friend. I’m here to help explain what’s going on and give you tips to speed up the approval process. After all, there’s a whole world of commission-free investing just waiting for you on the other side!

Let me start by giving you the inside scoop on why Robinhood needs to review applications in the first place.

Why Robinhood Carefully Reviews All New Accounts

As a registered broker-dealer, Robinhood must follow strict federal regulations requiring the identity verification and background check of all customers on their platform. These laws enforced by the SEC, as well as internal policies, are meant to prevent fraud and money laundering in the investing world.

You see, because Robinhood operates purely online through their app – with no physical branch locations – the company doesn’t get the chance to meet you in person. This makes it extra important for them to validate customers remotely by thoroughly reviewing account applications.

Financial technology geeks like me refer to this process as “Know Your Customer” (KYC) and “Anti-Money Laundering” (AML) compliance.

During KYC reviews, Robinhood verifies your:

Identity – Name, birth date, address etc.
Background – No criminal history or fraud.
Eligibility – U.S. resident, over 18 years old.
Risk factors – No bankruptcy or suspicious activity.

They also confirm your funding sources, like the bank account you connected, are properly registered under your name. Think of it like getting ID’d at a bar, except digitally and with sophisticated AI tech!

Robinhood uses your SSN, public records, credit checks and documented income to validate all this information and ensure you are who you claim to be.

Rest assured the sensitive data is encrypted and Robinhood has advanced security measures in place to protect your privacy.

The Different Account Approval Timeframes

Now that you know why reviews happen, let’s get into how long they actually take.

The vast majority of new customers complete the streamlined application process within 1-3 business days.

Robinhood uses intelligent algorithms and automation to verify standard customers in just 24-48 hours. I’d say this applies to about 90% of newcomers to the platform.

For example, my own application took only a single day before getting the green light email. The smooth experience doesn’t surprise me though, considering Robinhood processes millions of new accounts each year. Their systems are extremely refined.

However, more complex cases can understandably take longer as additional verification steps are required. Roughly 10% of applications fall into this category.

Here are some common reasons your account might be stuck in review purgatory:

Incorrect personal information – Even minor typos in something as basic as your zip code or birthday delays identity confirmation. Always double check!
Incomplete details – Leaving any required fields blank puts things on hold until the missing info is provided.
Changing details – Adjusting personal data after submitting your application restarts the review.
Funding problems – Issues linking a valid bank account impedes necessary cash source validation.
Limited credit history – Those completely new to credit often undergo extra verification to confirm identities.
Suspicious activity – Accounts deemed high risk due to things like past fraud need deeper diligence.
Technical glitches – Computer errors can sometimes interfere with approvals. Try contacting Robinhood support.

According to Robinhood’s website, they strive to complete all reviews within 5-7 business days, though many are finalized much sooner.

I’ll share some tips later to help expedite the process, but first let’s go over how you can track where your application stands.

Checking Your Current Robinhood Account Status

Wondering what the hold up is? Here’s how to view your application status:

Open the Robinhood app and log in.
Tap the profile icon in the bottom right corner.
Select Account Details.
Scroll down to the Account Information section.

You should see one of the following:

Under Review – Your application is still processing.
Approved – You’re cleared to start investing!
Rejected – Your account request was unfortunately denied.

Robinhood will also email status updates and contact you directly if any extra info is needed to complete the review. Don’t ignore these – responding quickly is key for timely approval!

Speeding Things Up: Get Your Account Verified Faster

Alright, you’re likely most interested in my tips for hurrying the process along so you can start trading. Here are my top 7 tricks for getting approved in record time:

1. Provide complete and accurate data

I can’t stress this enough – incorrectly or incompletely entering personal details like your name, birthday, address etc. is the number one culprit behind stuck applications.

Triple check everything matches your legal identification. Data discrepancies put reviews in limbo until resolved.

2. Use your legal name

Avoid nicknames. Enter details exactly as they appear on official IDs like your social security card or driver’s license.

For international residents, use the name format shown on passports. Consistency avoids confusion.

3. Validate bank account information

Log into your bank to verify the account you’re using shows up as valid and registered under the same identity details you provided to Robinhood.

Mismatched ownership data between your bank and Robinhood accounts triggers in-depth verification. Save yourself the trouble.

4. Provide all optional details

Even though things like your occupation, income sources and investment experience are optional, providing this extra info gets you through the process faster.

The more data points the better for quick approvals.

5. Only submit the application once

I know the urge to just keep reapplying can be strong, but avoid doing so at all costs!

Submitting multiple applications actually restarts reviews from scratch each time. Just be patient with your original one.

6. Respond immediately to information requests

If Robinhood needs any additional documents or details from you, provide them ASAP. Waiting prolongs approval unnecessarily.

Reconfirm your email and notifications are on to receive requests promptly.

7. Contact support

If your application remains stuck under review after 5+ days, politely contact Robinhood support at [email protected] or (650) 940-2700 to inquire.

They can confirm whether any further action is needed on your end to complete the reviews.

Stick to this game plan and your account should be ready for trading within a week at most! Now let’s wrap up with some FAQs.

Robinhood Account Approval FAQs

Here are quick answers to some common questions I get about getting through Robinhood’s application reviews:

Can I trade while my account is still under review?

Unfortunately no. You cannot make any transactions until Robinhood has officially approved your account application. Remaining patient is key!

Does Robinhood need my Social Security Number?

Yes. Your SSN is required during the identity verification process when opening either Robinhood Financial LLC or Robinhood Crypto LLC accounts.

How long does the application review take?

The majority take only 1-3 days. More complex cases can take up to 5-7 days. Rare outliers may be longer.

I have bad credit. Will I get approved?

Yes, in most cases. Poor credit alone does not disqualify you. Income requirements depend on your account type. Additional verification steps may be required though.

Can non-US citizens get approved?

Robinhood currently only accepts applications from U.S. citizens, green card holders and certain visa holders residing in the United States. International accounts are not supported.

What happens if my application is rejected?

You will receive an email from Robinhood detailing specifically why your application was denied. Common reasons include outstanding debt obligations, past sanctions, or residency incompatibility. You may be able to reapply after resolving any issues.

The Bottom Line

The key takeaway about Robinhood’s application review process is to be patient, provide accurate personal information, and promptly respond to any requests from Robinhood to expedite approval.

For straightforward accounts, the process is quick and painless. Even more complex cases wrap up within a week or so in most situations.

It may seem frustrating at first, but try to see the application review as Robinhood taking important steps to protect you and the entire investing community. Validating members is crucial for preventing illicit activity.

Stick with it, and soon you’ll have access to seamless stock and crypto investing right from your phone! Let me know if any other questions come up. Happy trading!