Sign in

Scottrade

Sharing is caring! Have something to share about Scottrade? Use RevDex to write a review

Scottrade Reviews (16)

Revdex.com: I appreciate Scottrade's prompt attention to this matter I understand I misheard the person's message, which I thought was a possibility after listening to it multiple times I credit Scottrade for recording their calls for quality control purposes Frankly, some of my reaction to this was probably built up from the prior frequent calls from Scottrade sales representatives.I did call the person who left the message to clarify the purpose before filing my Revdex.com complaint and was not satisfied with her answers She did not remember calling me the day before, understandable given the job requirements, but she made repeated requests for personal information when I had not been able to confirm that the initial call or the person's business was legitimate Specifically, I stated that if my account was on hold that they send me an email so I could confirm their identify and was told something to the effect of "We're not allowed to send emails due to financing regulations" That is really why I filed the complaint: to ensure the contact was legitimate, and if it was, to make it cease I do not wish to be contacted by Scottrade sales personnel unless I initiate the contact I plan to withdraw my business and use a competitor in the near future Thanks, [redacted]

Hello, We have reviewed Mr. ***'s follow up complaint and have nothing new to add. Please refer to our previous response to Mr. ***'s original complaint. Sincerely, Michael B***Senior Investigation and Resolution Examiner

June 3, Re: Revdex.com Complaint Case # [redacted] To Whom It May Concern: I am writing in response to a complaint you forwarded to Scottrade on May 17, In the complaint, our client states Scottrade did not provide notification that his unsecured debit would be sent to collectionsI have researched this matter and am reporting my findings below In May our client incurred a considerable debit balance within his account and did not hold any other securities to cover the amount owed to ScottradeSince the client held an unsecured debit an email was sent to the client notifying him that he would need to cover the amount with cashThe client began making consistent monthly payments to cover this debit from May through July As the client was making consistent payments Scottrade did not take any action on his account in good faith Between August and September Scottrade did not receive any payments so a letter was mailed to the client's home address on September 30,notifying him that he was past due on his paymentsThe letter explained that if he did not continue to make payments that Scottrade would be forced to report his account as delinquent to the national credit bureaus and may pursue collection of his debt Scottrade did receive a payment from the client in October but after not receiving any additional payments a second letter was mailed to the client on December 21, reiterating that if he did not continue payments we may pursue collection of the debt through a collection agencyThe letter also explained that if he needed to make an arrangement for payments that he could contact one of our Debt Recovery associates at the number providedWe were never contacted by the client about making arrangements The client made a payment in January but did not make any additional payments the following monthSince no payment was received in February a third letter was then mailed on March 10, reiterating that if he did not continue payments we may pursue collection of the debt through a collections agencyAnother month went by without any payments being made and Scottrade sent a final reminder letter to the client on Apri14, After not receiving any payments from the client since January Scottrade turned this unsecured debit over to a collections agency on April 25, Based on my findings I show Scottrade properly notified the client his debit was at risk of being turned over to collectionsThe client never contacted Scottrade to make arrangements and after three months of not receiving any payment from the client we turned the debit over to collectionsIt is my understanding that the client has since worked with the collections agency to pay off the remainder of this debit Thank you for allowing us the opportunity to respond to this matter and we hope this satisfactorily addresses our client's concerns Sincerely Ryan O [redacted] Investigation and Resolution Examiner

Revdex.com: I have reviewed the offer made by the business in reference to complaint ID [redacted] , and find that this resolution would be satisfactory to meI will wait for the business to perform this action and, if it does, will consider this complaint resolvedIf the company does not perform as promised I can get back to you at: [redacted] Regards, [redacted] ***

I spoke to Mr [redacted] on June 11, 2015, and extended the expiration date on his free trades to December 10, I apologized for the initial expiration date and we mutually believe the matter has been addressed to his satisfaction, and we consider the matter closed[redacted] [redacted]

July 16, Revdex.com serving Central Virginia Moorefield Park DrSuite Richmond, VA RE: Case # [redacted] : [redacted] To Whom It May Concern: I am writing in response to your letter, dated July 14, 2015, regarding the complaint you forwarded to Scottrade from [redacted] Mr [redacted] questions why he received a phone call from his local Scottrade branch office on July 10, He also alleges deceptive sales practices by Scottrade I have researched Mr [redacted] ’s issue and am responding accordingly In his complaint Mr [redacted] states the voicemail he received on July 10th from [redacted] , branch manager of his local Scottrade branch office, stated his account had a ‘hold’ placed on itIn my research I listened to the voicemail left for Mr [redacted] , which I have transcribed below: Hi, this message is for [redacted] , this is [redacted] calling from Scottrade here in SpringfieldI am the branch managerWanted to speak with you today in regards to the trading account you hold with us Our office telephone number you can give me a call is [redacted] And we are open M-F from 8- Look forwards to speaking with you soon Please note that Ms [redacted] did not inform Mr [redacted] that his account had a hold placed on itHer call was a routine customer service contact to Mr [redacted] to inform him we have not received a signature card for his accountThis call was not to sell Mr [redacted] products, and there were no deceptive sales practices involved If you have any further questions regarding this issue feel free to contact me at [redacted] ext*** Sincerely, [redacted] Senior Investigation & Resolution Examiner

Complaint: [redacted] I am rejecting this response because:While I can appreciate their explanationIt is pretty clear or should be pretty clear by my issuing a payment immediately prior to receiving the collection notice and my prompt response to the collection notice once it was received, that I never received any of the notices that they claim to have sent It should also be clear by my history of occasional payments that I was fully aware that this debt needed to be repaid and was willing and able to settle the debt without a collections agency getting involved despite receiving any formal agreement or payment planThe collection agency didn't seem to have any trouble getting in contact with meThe only thing this situation seems to display is that Scottrade was unwilling to take reasonable measures to get in contact with a client who was paying them backI admit some of my contact information was outdatedHowever, the phone number on the account was current and if they had expended a little bit of customer service and contacted me to update the rest of my contact information I would have received their noticesI also sent them checks that would have had my current mailing address which could have been updated in their systemI understand there are probably others who just refuse to pay their debt and ignore notices, but each case is unique and that is no excuse for poor customer service to a client that was making an effort to repay a debt.Sincerely, [redacted]

Check your account often to make sure they are not siphoning some off

I spoke to Mr. [redacted] on June 11, 2015, and extended the expiration date on his free trades to December 10, 2015.  I apologized for the initial expiration date and we mutually believe the matter has been addressed to his satisfaction, and we consider the matter closed.[redacted]...

[redacted]

Revdex.com:
I appreciate Scottrade's prompt attention to this matter.  I understand I misheard the person's message, which I thought was a possibility after listening to it multiple times.  I credit Scottrade for recording their calls for quality control purposes.  Frankly, some of my reaction to this was probably built up from the prior frequent calls from Scottrade sales representatives.I did call the person who left the message to clarify the purpose before filing my Revdex.com complaint and was not satisfied with her answers.  She did not remember calling me the day before, understandable given the job requirements, but she made repeated requests for personal information when I had not been able to confirm that the initial call or the person's business was legitimate.  Specifically, I stated that if my account was on hold that they send me an email so I could confirm their identify and was told something to the effect of "We're not allowed to send emails due to financing regulations".  That is really why I filed the complaint: to ensure the contact was legitimate, and if it was, to make it cease.  I do not wish to be contacted by Scottrade sales personnel unless I initiate the contact.  I plan to withdraw my business and use a competitor in the near future. 
Thanks,
[redacted]

I spoke to Mr. [redacted] on June 11, 2015, and extended the expiration date on his free trades to December 10, 2015.  I apologized for the initial expiration date and we mutually believe the matter has been addressed to his satisfaction, and we consider the matter closed.[redacted]...

[redacted]

July 16, 2015
 
Revdex.com serving Central Virginia
720 Moorefield Park Dr. Suite 300
Richmond, VA 23236
 
RE:      Case # [redacted]:
[redacted]
 
To Whom It May Concern:
 
I am writing in response to your...

letter, dated July 14, 2015,
regarding the complaint you forwarded to Scottrade from [redacted]. Mr.
[redacted] questions why he received a phone call from his local Scottrade branch
office on July 10, 2015. He also alleges deceptive sales practices by
Scottrade.  I have researched Mr. [redacted]’s
issue and am responding accordingly.   
 
In his complaint Mr. [redacted] states the voicemail he
received on July 10th from [redacted], branch manager of his
local Scottrade branch office,  stated
his account had a ‘hold’ placed on it. In my research I listened to the
voicemail left for Mr. [redacted], which I have transcribed below: 
 
Hi, this message is for [redacted], this is [redacted] calling from Scottrade here in Springfield. I am the branch manager. Wanted to
speak with you today in regards to the trading account you hold with us. 
Our office telephone number you can give me a call is [redacted].  And
we are open M-F from 8-5.  Look forwards to speaking with you soon.
 
Please note that Ms. [redacted] did not inform Mr. [redacted] that
his account had a hold placed on it. Her call was a routine customer service
contact to Mr. [redacted] to inform him we have not received a signature card for
his account. This call was not to sell Mr. [redacted] products, and there were no
deceptive sales practices involved.
 
If you have any further questions regarding this issue feel
free to contact me at [redacted] ext. [redacted].  
 
Sincerely,
 
 
 
[redacted]
Senior Investigation & Resolution Examiner

July 16, 2015
 
Roman" size="3">
Revdex.com serving Central Virginia
720 Moorefield Park Dr. Suite 300
Richmond, VA 23236
 
RE:      Case # [redacted]:
[redacted]
 
To Whom It May Concern:
 
I am writing in response to your letter, dated July 14, 2015,
regarding the complaint you forwarded to Scottrade from [redacted]. Mr.
[redacted] questions why he received a phone call from his local Scottrade branch
office on July 10, 2015. He also alleges deceptive sales practices by
Scottrade.  I have researched Mr. [redacted]’s
issue and am responding accordingly.   
 
In his complaint Mr. [redacted] states the voicemail he
received on July 10th from [redacted], branch manager of his
local Scottrade branch office,  stated
his account had a ‘hold’ placed on it. In my research I listened to the
voicemail left for Mr. [redacted], which I have transcribed below: 
 
Hi, this message is for [redacted], this is [redacted] calling from Scottrade here in Springfield. I am the branch manager. Wanted to
speak with you today in regards to the trading account you hold with us. 
Our office telephone number you can give me a call is [redacted].  And
we are open M-F from 8-5.  Look forwards to speaking with you soon.
 
Please note that Ms. [redacted] did not inform Mr. [redacted] that
his account had a hold placed on it. Her call was a routine customer service
contact to Mr. [redacted] to inform him we have not received a signature card for
his account. This call was not to sell Mr. [redacted] products, and there were no
deceptive sales practices involved.
 
If you have any further questions regarding this issue feel
free to contact me at [redacted] ext. [redacted].  
 
Sincerely,
 
 
 
[redacted]
Senior Investigation & Resolution Examiner

Revdex.com:
I have reviewed the offer made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved. If the company does not perform as promised I can get back to you at: [redacted]
Regards,
[redacted]

Review: I received a voicemail from someone identifying themselves as [redacted] from the "Springfield, Virginia branch" of Scottrade informing me a hold was placed on my account. While this could be a social networking scheme she left a callback number and when I called back there was a Scottrade identifier that seemed official. She asked for account ID and my date of birth, which I refused to provide. I later confirmed there was no hold on my account. I suspect this was a deceptive sales practice where the "hold" notice by phone was intended to have me call back so they could sell additional products to me. If true, this is an unwelcome nuisance.Desired Settlement: I would like confirmation whether this was a legitimate business contact. If it was, I would like an explanation of why this tactic was used. And I would like no further sales contacts with the business that are not initiated by me.

Business

Response:

July 16, 2015

Revdex.com serving Central Virginia

720 Moorefield Park Dr. Suite 300

Richmond, VA 23236

RE: Case # [redacted]:

To Whom It May Concern:

I am writing in response to your letter, dated July 14, 2015,

regarding the complaint you forwarded to Scottrade from [redacted]. Mr.

[redacted] questions why he received a phone call from his local Scottrade branch

office on July 10, 2015. He also alleges deceptive sales practices by

Scottrade. I have researched Mr. [redacted]’s

issue and am responding accordingly.

In his complaint Mr. [redacted] states the voicemail he

received on July 10th from [redacted], branch manager of his

local Scottrade branch office, stated

his account had a ‘hold’ placed on it. In my research I listened to the

voicemail left for Mr. [redacted], which I have transcribed below:

Hi, this message is for [redacted], this is [redacted] calling from Scottrade here in Springfield. I am the branch manager. Wanted to

speak with you today in regards to the trading account you hold with us.

Our office telephone number you can give me a call is [redacted]. And

we are open M-F from 8-5. Look forwards to speaking with you soon.

Please note that Ms. [redacted] did not inform Mr. [redacted] that

his account had a hold placed on it. Her call was a routine customer service

contact to Mr. [redacted] to inform him we have not received a signature card for

his account. This call was not to sell Mr. [redacted] products, and there were no

deceptive sales practices involved.

If you have any further questions regarding this issue feel

free to contact me at [redacted] ext. [redacted].

Sincerely,

Senior Investigation & Resolution Examiner

Consumer

Response:

I appreciate Scottrade's prompt attention to this matter. I understand I misheard the person's message, which I thought was a possibility after listening to it multiple times. I credit Scottrade for recording their calls for quality control purposes. Frankly, some of my reaction to this was probably built up from the prior frequent calls from Scottrade sales representatives.I did call the person who left the message to clarify the purpose before filing my Revdex.com complaint and was not satisfied with her answers. She did not remember calling me the day before, understandable given the job requirements, but she made repeated requests for personal information when I had not been able to confirm that the initial call or the person's business was legitimate. Specifically, I stated that if my account was on hold that they send me an email so I could confirm their identify and was told something to the effect of "We're not allowed to send emails due to financing regulations". That is really why I filed the complaint: to ensure the contact was legitimate, and if it was, to make it cease. I do not wish to be contacted by Scottrade sales personnel unless I initiate the contact. I plan to withdraw my business and use a competitor in the near future.

Thanks,

Review: The Scottrade online platform has periods of outage during market hours which prohibit an investor from making an immediate sale/purchase of a stock. This has happened to me on multiple occasions, some I have informed them of, while others I have ignored. This happened again at the end of May. I contacted my local branch (listed here) to request a compensation for their system outage during market open which cost me approximately $2,000 as I was unable to execute a trade immediately. After the local branch spoke with the corporate office, corporate indicated they would offer 35 free trades and $1 off future trades for the remainder of the year. Previously they had compensated me for 50 trades. I waited a week for the [redacted] to return from vacation. When he contacted corporate, they indicated they would do a one-time 50 free trade credit to my account with the understanding they would not do this amount again. I was able to choose between the two options. Nothing was mentioned of an expiration of the credit (trades) in the 3 phone calls I made. Two weeks after the matter, the 50 free trades were uploaded to my account with an expiration date. I phoned the branch office and the attendant informed me that they routinely back the expiration date up for those credits and that I should not worry but he needed to check with corporate. This afternoon (6/4) a voicemail was left on my phone by the same attendant indicating that corporate is refusing to eliminate the deadline.Nothing was mentioned of an expiration date over the phone. And the local branch frequently indicates they can do nothing for me "because corporate says so." I feel that I have get everything in writing at this point when interacting with this company as many times what has been indicated is not what is being provided. While the 50 free trades are FAR from the resolution I initially requested, it was a compromise on my end. Now, the additional "surprise" terms of the resolution are inappropriate and unethical.Desired Settlement: My request is that the offered 50 trades have an end of year deadline (12/31/15) that will allow me to use them rather than having the bulk of them expire on 6/29/15 as presently indicated on my platform.

Business

Response:

I spoke to Mr. [redacted] on June 11, 2015, and extended the expiration date on his free trades to December 10, 2015. I apologized for the initial expiration date and we mutually believe the matter has been addressed to his satisfaction, and we consider the matter closed.[redacted]

Consumer

Response:

I have reviewed the offer made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved. If the company does not perform as promised I can get back to you at: [redacted]

Regards,

Check fields!

Write a review of Scottrade

Satisfaction rating
 
 
 
 
 
Upload here Increase visibility and credibility of your review by
adding a photo
Submit your review

Scottrade Rating

Overall satisfaction rating

Description: Stock & Bond Brokers

Address: 970 N Point Dr STE B150, Alpharetta, Georgia, United States, 30022-1704

Phone:

800619 0 0
Show more...

Web:

This website was reported to be associated with Scottrade.



Add contact information for Scottrade

Add new contacts
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | New | Updated