![]() ![]() But then folks started uploading selfies instead of their driver’s licenses, causing more headaches. So the company added a photo requirement to its signup process. That meant that as many as 10% of the registrations bounced back, spokesman Jack Randall said, and required further documentation-often a photo ID. ![]() The month’s top performers win real cash, too. Since Robinhood’s target audience skews younger, many didn’t have a lot of credit history to go on. and you can use the app’s social network and news feed to source ideas. and 48 hours after providing Cultural Vistas with the required information to validate their visa. It is advised that the participant applies for the SSN no less than 10 days after entry to the U.S. ![]() The Patriot Act says a service of this type has to make sure its customers are real people, and Robinhood used information such as social security numbers and addresses to cross-reference customers against credit bureau databases and ensure they weren’t laundering money or doing other nefarious things. The participant will then need to visit a local Social Security Office with all required documentation to apply. The process was slowed both by regulatory hurdles and, strangely, by the selfie-taking tendencies of millennials.īecause operating a brokerage means more regulatory scrutiny than the typical app, Robinhood couldn’t just register people instantly. Why didn’t the company just let in all comers from the beginning? Easier said than done. ![]()
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