E*Trade Financial Corporation

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.They wired the funds to me and I'd appreciate it if you would not post my complaint online as I...

wasn't aware the actual complaint would be made public and I had personal information included in it. 
Sincerely,
[redacted]

At this time, I have been contacted directly by E*TRADE Financial Corporation regarding complaint ID ***, however my complaint has NOT been resolved because:
[Your Answer Here]
 
 i have recieved a letter by email stating the all of my requests have been made to my account.  thank you.  *** ***
 
 
In order for the Revdex.com to appropriately process your response, you MUST answer the question above.
Sincerely,
*** ***

I saw the complaints were mostly dealing with security of accounts and it made me feel better about the service. There are other online brokers but I picked this one because of the number of no transaction fee mutual funds available. You may see that they charge for ETF (exchange traded funds) but you can find a mutual fund with similar characteristics for low fees and no transaction fees.
Online investing has changed my life. I went from saving ~12% of my income for retirement to saving close to 40%. Their service is great for the individual that is looking to put a fixed amount per month into a fund without the middleman.
My only request: I would like more security features. For instance, I would like the option to make selling securities harder. It would be neat if I could set an option that a sale request would send a text or automated call to my cell where I have to respond with a PIN. I would like more assurance that if someone hacks into my account that I have a chance to recover my assets. For many of us that use it, that number at the home screen is our entire worth.

I have been trying to apply for a Simple IRA account for the past 6 weeks. I have sent in 4 separate applications, yet none of them have been processed. The first application was said to be missing some information but then after receiving the information 2 days later, they said it was an old version of the form. They made me submit additional copies because the applications did not show up in their system. I have faxed and mailed applications but neither method seems to work. Over the past 6 weeks I have spent close to 6 hours on the phone with customer service and have called more than 10 times. My employer is a small business and we don't have the time and resources to deal with this, not to mention that for every week I don't have an account I miss out on the 3% match my employer offers. Your application process has cost me hundreds of dollars and valuable time. Please fix this.

At this time, I have been contacted directly by E*Trade Financial Corporation regarding complaint ID [redacted], however my complaint has NOT been resolved because:
About 3-4 months ago, E-trade has - de-activated my checking account without any types of explanation card leaving me unable to make a transactions and demanding me to contact them. - Meantime, etrade reps has been calling incessantly during both business and non-business hours to my cellphone despite me being busy and unable to reach them when calling back. - E-trade representative over the phone has lied about new card being sent to my home address which did nt materialize. - It is impossible to reach someone over the phone who is competent enough to give quality service. - Over their web site, e-trade has blocked my account from requesting new card. (attachment) This is a service issue, do not [redacted] close this complaint. 
 
[redacted]

Revdex.com:At this time, I have not been contacted by E*Trade Financial Corporation regarding complaint ID [redacted].Sincerely,[redacted]

Revdex.com:At this time, I have not been contacted by E*Trade Financial Corporation regarding complaint ID [redacted].Sincerely,[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.
Sincerely,
[redacted]
/>

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.
Sincerely,
[redacted]
/>

Review: On 5/**/2015 I called etrade's customer service line and asked about the process to transfer my Roth IRA to another financial institution. I was told how to initiate the process, and also told that I would be charged a fee of $19.99 for the transaction. I consented, and proceeded with the transfer. Upon processing my request, etrade proceeded to charge me $79.99 - the $19.99 fee that they informed me of, and an additional $60.00 fee. When I initially contacted etrade, I was told that the $19.99 fee was the only fee I would incur, otherwise I would have never initiated the transfer as the fees represented more than half of the amount being transferred. I have contacted etrade in an attempt to resolve the situation, but they told me they didn't care what I was told when I called.Desired Settlement: I would like the $60 fee that they did not inform me of initially returned.

Consumer

Response:

At this time, my complaint, ID [redacted] regarding E*Trade Financial Corporation has been resolved.

(By clicking "OK", your complaint will be closed as Resolved.)

Sincerely,

I was lied to by three separate agents over a two day period. I attempted to empty my brokerage account via check, the agent verified my info and I advised that I had moved, he updated the info and advised the check was on its way. I received an email form Etrade saying the check was going to have a stop payment issued due to my address being changed. I called back and was told that my account had been locked for fraud reasons and that once it was resolved the check would be good again. (that was lie) I then demanded a new check be issued and demanded that it be in my hands before close of business the rep assured me this would happen, (also a lie). This company is full of nothing but customer service reps that lie. I will never do any business with them ever again.

Worst nightmare ever. I am a foreign national living in US legally for the past 12 years. I have accounts with several financial service companies and not once I have ever come across harassment like ETrade. Basically ETrade has some process where I need to provide documentation to prove that for tax purposes I am domestic purpose. I understand the need for this and so far, I have faxed documentation twice and mailed a hard copy for my account activation. This is for Employee Stock Plan. Today, I was contacted to provide two new documents (W9 and SSN copy) and a written letter requesting to change the status from International to Domestic so they can activate my account.

My questions to CS and his supervisor was very simple...

1. Please share a complete list of instructions so that I dont have to go round about in iterations

2. Why am I being asked for a requesting letter to change the status from International to Domestic. I am totally confused on this one because, its the ETrade system that is requesting this additional document which I am ready to provide. The question is why a letter is needed from me

3. Why is my case different from any other employee who has the ESP through ETrade. No one has had this experience and all they had to provide is simple documentation proving they are domestic.

4. I asked the CS to share the detailed instructions thats available somewhere on ETrade website that asks for all of it... the answer is its internal policy and its not available in our website, nor the supervisor is ready to give it in writing. Seriously ???

I have had an account with Etrade for approximately 9 years. Lately I got a new laptop, and a new browser, as well. I have been locked out of my account, and have made multiple calls to their customer service, which is always met with no positive results. They asked me to send in two of my ID's, which apparently were not good enough, and then I sent in a passport ID. Still nothing has been communicated to me, and I cannot even begin to express my disgust for this process...

Review: On the day of 6/**/2015, I have attempted to make a couple of transaction during the evening but it was declined out of blue. On the next day, also I have attempted to use my card at my work's cafeteria and also at the fast food restaurant. On both instance it was declined. It was not clear why e-trade has declined which is a very rude and possible illegal scheme to lock-up customer's money. Because without it, my regular checking account will be locked in case if I need to use some emergency fund. I felt very violated by this aggressive policy by e-trade and would like to demand compensation and also promptly re-activate the card back for normal resume operation without any question asked. I will not agree with any other outcome and for any other outcome I will start preparing to close my e-trade accounts altogether.Desired Settlement: Re-imbursement of minimum of 500$ to my checking account for continued use of e-trade account plus prompt re-activation to release my fund currently locked in etrade's checking account for no fault of my own.

Consumer

Response:

At this time, my complaint, ID [redacted] regarding E*Trade Financial Corporation has been resolved.

(By clicking "OK", your complaint will be closed as Resolved.)

Sincerely,[redacted]

Consumer

Response:

At this time, I have been contacted directly by E*Trade Financial Corporation regarding complaint ID [redacted], however my complaint has NOT been resolved because:

About 3-4 months ago, E-trade has - de-activated my checking account without any types of explanation card leaving me unable to make a transactions and demanding me to contact them. - Meantime, etrade reps has been calling incessantly during both business and non-business hours to my cellphone despite me being busy and unable to reach them when calling back. - E-trade representative over the phone has lied about new card being sent to my home address which did nt materialize. - It is impossible to reach someone over the phone who is competent enough to give quality service. - Over their web site, e-trade has blocked my account from requesting new card. (attachment) This is a service issue, do not [redacted] close this complaint.

Review: When I attempted to move some of my funds around, I was locked out of my account online because my birthday they had on file did not match my actual birthday. I demanded an explanation: when the date had been changed and what transactions they had recorded from that date. They never provided that information. Even though I had records showing that the transfer of my IRA Roth from HRBlock included my real birthday (in 2005), I followed their protocol and sent in images of both sides of my drivers license and a letter indicating that my account should be activated. I had to send this in twice over the course of a week. All told, it took 10 days to access my own funds. For the trouble, I was also charged a transfer fee. To add insult to injury, when I contacted Fidelity to transfer the remaining funds from e*trade to Fidelity, the told Fidelity that I had provided the wrong account number. The same error, runaround and incomplete documentation occurred with my husband's account. Their shady and unethical practices are disgusting and horrifying. They should not be allowed to continue their usury practices.Desired Settlement: I want them to act like a federally regulated financial services company and transfer my funds to Fidelity without playing all these ridiculous games. I also want an apology and an explanation of how essential data, like birthdates and social security numbers could have been altered. As well as a record of when these errors occurred and what happened between then and now. I want all my fees waived from the error's occurrence through the present date. And I also want the same for my husband's account.

Business

Response:

Dear [redacted]:

On behalf of E"TRADE Securities LLC ("E-TRADE"), this letter is in response to your correspondence to the Revdex.com ("Revdex.com") concerning the above-referenced account.

A review of account records confirms that you contacted Customer Service on June *, 2013 to initiate a distribution from the account. A Financial Services Representative attempted to verify your date of birth at that time: however, the date of birth provided did not match the information on record. A security restriction was placed on the account on June *, 2013 pending receipt of a letter verifying your identity and copies of the driver's licenses and passports of both account holders.

It is noted that the account was converted from a Harrisdirect account to an E*TRADE account on April *, 2005. The information on file for the account, including your date of birth, was provided to E"TRADE by Harrisdirect.

The security restriction was removed from the account upon receipt of the required documentation on June **, 2013. Per your request, $7,500.00 was distributed to your account at Educational Community Credit Union on June **, 2013 via Automated Clearing House ("ACH") transfer. The account was assessed a $25.00 premature distribution fee in accordance with the Special Request Fees schedule posted on the E-TRADE website. The registration of the account was updated to include your correct date of birth on July *, 2013.

While E"TRADE regrets your disappointment, your request for compensation is respectfully declined.

Review: I transferred my account to [redacted] and without any notice, call, or email I was charged a transfer fee of $60.75Desired Settlement: refund of this charge.

Business

Response:

Dear [redacted]:

On behalf of E"TRADE Securities LLC ("E•TRADE"), this letter is in response to your March **, 2013 correspondence to the Revdex.com ("Revdex.com") regarding the transfer fee that was assessed to the above-referenced account.

A review of account records confirms that a $60.00 full account transfer fee was assessed to the account on March **, 2013 following the transfer of the account to [redacted] The full account transfer fee was assessed to the account in accordance with the Special Request Fees schedule posted on the E"TRADE website.

You are respectfully reminded that at the time the account was opened, you agreed to the terms set forth in the E*TRADE Securities Brokerage Customer Agreement. Section 4(b) states, in pertinent part:

I agree to pay brokerage commissions, charges and other fees promptly as set forth in E'TRADE Securities' then-current fee schedule and as applicable to my Account and the transactions and services l may receive. I also agree to pay all applicable federal, state and local taxes. I authorize E'TRADE Securities automatically to debit my Account for any such brokerage commissions, charges, fees and taxes. A schedule of the current fees and commissions is available on the E'TRADE Securities Web site. E'TRADE Securities may modify the fee structure at any time by posting a modified schedule on its Website.

It is noted that you discussed the concerns referenced in your correspondence to the Revdex.com with [redacted], Financial Service Representative, on March **, 2013. [redacted] confirmed that the full account transfer fee was appropriately assessed to the account; however, in the interest of customer relations, a $60.00 credit posted to the account on March **, 2013. The $60.00 balance was swept to [redacted] on April *, 2013.

E'TRADE appreciates the opportunity to respond to your concerns.

Sincerely,

Senior Compliance Analyst

Compliance Department

E'TRADE Securities LLC

Review: I bought stock from etrade.com back in 2004, and didn't physically log on to check it since it was doing so poorly. Now, after about 8 years, I went to check on it, and my account was closed. After various phone calls and emails, I've found that they charged me a $40/quarter maintenance fee until the account was in the negative. I never read or signed anything that mentioned this. They advertised big and bold $9/trade or whatever it was at the time, and then, somehow they decided to charge me a maintenance fee without me knowing. I'm not stupid, and wouldn't have put $1000 into an account that was going to charge me $160/year. They also failed to contact me in any way shape or form about this. Now, after trying to resolve this myself, they keep giving me the run-around and occasionally calling/emailing back.Desired Settlement: I'm either looking for a full reimbursement of my initial $1000.00 investment, or, all 125 shares of stock I bought reimbursed with a written apology for their incompetence and deception.

Consumer

Response:

At this time, I have been contacted directly by E*Trade Financial Corporation regarding complaint ID [redacted], however my complaint has NOT been resolved because:

[Your Answer Here]

They sort of responded back. They sent a letter in the mail, in regards to this specific Revdex.com complaint, stating that I signed up for this maintenance fee. But, as I keep pointing out to them, they provided no proof, and I NEVER got notification via email like they are saying. They haven't addressed the issue through various account messages/emails either. A representative, [redacted], offered me partial compensation, and that was the last I've heard. I haven't gotten a check or response back since that last phone call.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Review: I opened an Etrade account on January **, 2013. I saw an ad on [redacted] that advertised free trades for 60 days. I called today (2/*/2013) to ask why my comissions were not being refunded. I was told that I had to deposit $10,000 to receive the promotion. I only made an initial deposit of $3,000. When I clicked on the ad on Jan. [redacted], it took me to the "Create New Account" page at Etrade. Nowhere did it state that there was any requirement on the amount of deposit required to get the promotion. There were other disclosures at the bottome of the webpage, but there was NOTHING about the $10,000 requirement. When I called today they sent me to some other link that had the requirement listed. This was very deceptive to say the least. Either a) the requirement was listed on some other page that no reasonable person could have found or b) they changed it after the fact (after I opened the account in reliance on the offer). I spent considerable time and energy setting up this account and never would have done so if I wasn't mislead.Desired Settlement: I would like to receive the "free trade" offer for 60 days.

Business

Response:

On behalf of E"TRADE Securities LLC ("E"TRADE" or "Firm"), this letter is in response to your correspondence to the Revdex.com ("Revdex.com") received on February**, 2013, concerning a promotional offer.

A review of account records confims that the above-referenced account was opened on January **, 2013. At the time the account was opened, it was enrolled in the 60 Day Free Trades Plus $500 Cash Credit for Consolidation promotional offer.

E"TRADE records confirm that all advertisements on third party websites such as [redacted] were updated on July **, 2012, when the minimum funding requirement was increased from $2,000.00 to

$10,000.00 for promotional offers. The E"TRADE advertisement link re-directed you to the E"TRADE website. For your ease of reference, a printed copy of the website you were re-directed to is enclosed.

It is noted that you spoke with [redacted], Customer Service Manager, on February *, 2013, and the concerns referenced in your correspondence to the Revdex.com were discussed at that time. In the interest of customer relations, a credit in the amount of $59.94 posted to the account on February *. 2013 in consideration for the commissions assessed for six trades that executed in the account. You are respectfully reminded that tne account did not qualify for the 60 Day Free Trades Plus

$500 Cash Credit for Consolidation promotional offer because the $10,000.00 minimum funding requirement was not met.

E"TRADE appreciates the opportunity to respond to your correspondence.

[redacted]

Review: company charged me for items I didn't not authorize, company refuses to help me resolve. agents hang up on me including the corporate office. I am the sweetest person in the phone and all they do is yell at meDesired Settlement: I want this corrected removed fees from my account. even if balance is brought to zero

Business

Response:

Dear [redacted]:

On behalf of E"TRADE Securities LLC ("E"TRADE"), this letter is in response to your correspondence to the Revdex.com ("Revdex.com") concerning fees assessed to the above-referenced account.

A review of account records confirms that the account was opened on March **, 2008. Securities were purchased in the account; however, the account remained mostly inactive thereafter. The Account Service Fee ("ASP') was assessed to the account every quarter from March 2009 to March 2010 and the

$2.00 Paper Statement Fee has been assessed to the account almost every month from January 2010 to October 2013 in accordance with the fee schedule posted on the E"TRADE website.

Smart Alerts were sent to the account to inform you of each pending ASF and the steps that could be taken to avoid the assessment of the fee, and the ASF and Paper Statement Fee were disclosed on periodic account statements that were delivered to the mailing address of record. As a self-directed investor, it remains your responsibility to monitor activity in your E'TRADE account.

A $132.00 credit was applied to the account on November **, 2013 in consideration for the 26 Paper Statement Fees that were assessed to the account and for two of the $40.00 ASF that were assessed to the account. An additional $43.56 credit was applied to the account on November **, 2013 in satisfaction of the remaining negative balance.

It is noted that accounts XXXX-[redacted] and XXXX-[redacted] were transferred to Pershing LLC on November **, 2013- Each account was assessed a $60.00 account transfer fee in accordance with the Special Request Fees schedule posted on E"TRADE website. A copy of the fee schedule is enclosed.

E'TRADE wishes you success with your future investments.

Review: There is some issues with my Ira RECHARACTERIZATION I contacted ETRADE to fix the issue It has been 4 emails with no answer Total lack of courtesy and customer care Total absence of competence as the people I have spoken to never were able to answer to me But most of time no one even repliesDesired Settlement: Finish the job urgently before April as it involves taxes Report lack of professionalism and respect for clients to management Offer compensation for the trouble or accept that an unhappy client closes his accounts (me) Thank you

Business

Response:

Dear [redacted]:

On behalf of E'TRADE Securities LLG ("E'TRADE"), this letter is in response to your correspondence to the Revdex.com ("Revdex.com") concerning your customer service experience.

Please accept E*TRAOE's apologies for the service you feel you have received, as well as for any inconvenience you may have experienced.

A review of account records confirms that a request for an Individual Retirement Account ("IRA') recharacterization was submitted through the E'TRADE website on February **, 2013. It is noted that you discussed the status of the IRA recharacterization with [redacted], Senior Financial Services Representative, on February **, 2013. During that telephone conversation. [redacted] informed you that the request was rejected because a recharacterization cannot combine 2012 and 2013 contributions. IRA recharacterizations must be submitted individually for each tax year.

An IRA recharacterization request was submitted through the E•TRADE website again on February **, 2013. The request was rejected on March *, 2013 because the account did not hold sufficient cash to cover the value of the fractional shares of [redacted]. ("[redacted]''). A Secure Message was sent to the account on March *, 2013 to inform you that the request could not be completed (copy enclosed).

[redacted], Senior Financial Services Representative, spoke with you regarding the rejected IRA recharacterization on March **, 2013. [redacted] submitted another request on your behalf to recharacterize six shares of [redacted], 10 shares of [redacted] Sponsored ADR ("[redacted]') and $35.09 on March **, 2013. One of the following reasons must be given for the reeharacterization:

Ihave already converted a Traditional IRA to a Roth IRA and wish to transfer all or part of the balance back to a Traditional IRA.

I wish to reclassify my Roth IRA contribution to a Traditional IRA contribution.

I wish to reclassify my Traditional IRA contribution to a Roth IRA contribution.

[redacted] elected the first option to reverse a conversion to Roth IRA XXXX-[redacted] however, Roth IRA XXXX-[redacted] had not been previously converted from a Traditional IRA, and the recharacterization request was rejected.

You discussed the rejected recharacterization request with [redacted], Senior Financial Services Representative, on March **, 2013. [redacted] submitted a new recharacterization request, and it was completed on March **, 2013. Per your request, six shares of APPL and $39.71 were reclassified into Traditional IRA XXXX-[redacted].