Robinhood Launches 24/7 Customer Service Support

A leading trading platform, Robinhood, has announced its launch of 24/7 customer service support for users of the platform.

Users of the app will now enjoy access to a live customer service representative round-the-clock. The company believes the 24/7 customer service support line will improve the platform’s reliability and accessibility. It would also position the firm to be able to answer time-sensitive questions of its users.

The customer service will be accessible through the Robinhood app. On request for a call, users will be notified when it is their turn for a call. Once it is time, a Robinhood customer representative will then put a call through.

24/7 Customer Service Support: A Necessity

Chief Operating Officer of Robinhood, Christine Brown stated there was a need to scale up its customer service to meet the huge demands characteristic of large exchanges and reduce wait times. Robinhood’s IPO filing in July showed it had 18 million registered accounts and about $80 billion in assets. Some have traced the spike in investors on the app to the commission free trading possible on the platform.

She noted that the company’s aim with the move was to resolve three significant barriers (economic, educational and emotional) to the financial markets.

Speaking on the emotional barrier, she noted the company should help people feel they’re ready to become investors. She said, “We need to help everyone feel that they’re ready to become investors, that they belong, and that they’ll get the support they need when they need it.” She expressed optimism that 24/7 customer service support will solve this issue.

The company noted in a blog post that it doubled the number of customer support staff this year. Brown confirmed this asserting that by June, Robinhood already had 2,700 customer support staff members. The company will continue to grow this team to meet user needs.

By launching the 24/7 service, Robinhood has embraced a trend many in the cryptocurrency ecosystem have shied away from. Many crypto investors have been deterred from investing in crypto because exchanges do not have round-the-clock support staff to guide them.

One of the most striking situations that highlighted the need for customer support is the Mt. Gox Bitcoin exchange attack. Over $400 million in customer funds was stolen. The situation was not handled well, and many customers and investors never got their money back. This inevitably led to the closedown of the exchange.