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ETRADE - ETRADE STEALS MONEY NO CUSTOMER SERVICE AT ALL
Posted on Thursday, January 17th, 2008 at 3:40pm CST by 180aadb9
Product: ETRADE ACCOUNT
PO Box 101600
Arlington VA 22210-4600
Arlington, VA, 22210, US
PLEASE NOTE the only reason I decided to use ETRADE for my new brokerage account was the fact that I thought Etrade could use the business especially based on its current stock prices and economic condition. However, I have discovered the reason Etrade is having business problems is the UNQUALIFIED Customer Service Team. Furthermore ETRADE will not give out it the Corporate Phone Number or allow a customer to contact the Corporate Offices.
Most Customer Service Representatives will not even give you a Supervisor. Edwardo Pongol would not even give me the Investor Relations phone number. Another Customer Service representative did not even know what a CFO was or who Etrades was, once I finally explained it to her she said that Customers were not allowed to contact the Corporate Offices.
Please see me issues below:
I opened on new account on 1-14-08 and initiated a Quick Funds transfer of $9,500 from my checking account.
Here is the ETARDE INFO on ETRADE SITE
For this type of deposit... Funds are available for withdrawal in...
Transfer from an external account via Quick Transfer On the evening of the 3rd business day after the day of deposit
Note I have been an etrade IRA customer for 8 years or more. On 1-16-08 I received the below from Etrade.
I received a message from Etrade on my new account stating I had to call to activate my account. I called and was told by the Customer Service Rep that the only way my account could be activated is if I faxed a copy of my driver license. I told this person to have a supervisor call me and close my account as this was ridiculous. I than send the following email to Etrade:
I called regarding the message to "CALL TO ACTIVATE MY ACCOUNT". I was told that I would have to fax a copy of my ID and other info. NOWHERE was this in the information to start an account. If I knew this and that the timing would take this long I would not have initiated and QUICK FUNDING transfer and would NEVER have opened and new account with Etrade. I would have gone down to my Local Brokerage house, opened an account in person and started trading that day.
PLEASE CANCEL THIS ACCOUNT. ALSO ENSURE THAT THE ELECTRONIC FUNDS TRANSFER FROM MY BANK IS CANCELLED AS WELL.
I think we will be moving all our funds from my husband and my accounts from Etrade in the near future.
A supervisor called me back and stated that Etrade ran my credit report and if I could answer 3 security questions my account could be activated at this time. I agreed and answered the questions. The supervisor called back later that day to say they account had been activated and my funds transferred. No problem right.
WRONG! After the account was activated Etrade then closed the account (they say because of the above email obviously no one read the notes from the Supervisors and my contact that day). Further, they received my initial deposit of $9,500 and did not credit it towards my account. Basically ETRADE STOLE THE MONEY!
On 1-17-08 I looked at my account and Etrade hadd closed the account and taken the $9,500 transferred from my bank and refuses to transfer the funds back unless I wait 5 business days.
I have spoken today with Angela Lizano ext 3963, she stated sorry. She told me to go to my bank and stop the transfer. My bank says the funds are already at Etrade.
I then called and sent the following email:
Well today the account IS CLOSED and my funds $9,500 have been withdrawn from my bank. WHERE IS MY MONEY AND WHERE IS MY ACCOUNT. THIS BETTER GET FIXED ASAP! NO WONDER ETRADE IS GOING OUT OF BUSINESS!!!!
I am working with Angela Lizano ext 3963 on this issue but wanted Etarde to have full documentation of this problem.
Per Angela there is nothing she can do I just have to wait until Etarde sends the funds back. I asked to speak with her Supervisor. Mr. Tarrayo was too busy to deal with a customer issues. Mr Jeff Lee was too busy to deal with a customer. Finally a low level supervisor Van Hornbuckle called and basically said there is nothing Etrade can do. I had been told my options and that was that.
I called back to get the phone number of the corporate offices and was told it could not be given out per Edwardo Pongol; further he stated that Etrade did not have an Investment relations department. I called again and the Customer Service agent didn???t even know what a CFO was let alone how to contact Etrades.
Finally I spoke with Ray Magga who gave me the Investor relations phone # of 646-521-4300, I have left a message but of course no return call.
I have now wasted about 6 hours with Etrade and am very ANGRY at the absolute lack of Customer Service from a completely untrained and unknowledgeable Customer Service staff who has been trained to do nothing but hassle customers and keep them from contacting either Investor Relations or the Corporate Offices to launch a complaint. ETRADE WILL NOT CONTACT YOU TO THE CORPORATE OFFICE OR GIVE YOU THEIR PHONE #.
I WANT MY MONEY BACK NOW. I THINK ALL CUSTOMERs SHOULD BE AWARE OF ETRADES ISSUES SO THEY CAN PULL OUT ALL THEIR MONEY BEFORE THIS HAPPENS TO THEM. ETRADE WILL NOT SURVIVE THIS ECONOMIC CLIMATE WITH A BUSINESS MOTTO OF SCREW THE CUSTOMER. DO NOT PUT YOUR MONEY IN ETRADE YOU WILL BE SORRY!
DO NOT INVEST IN ETARDE AS THEY WILL SOON BE OUT OF BUSINESS BECAUSE THE COMPANY HAS NO BUSINESS SENSE AND DOES NOT EVEN ABIDE BY THE TERMS OF THEIR OWN WEBSITE AND DISCLOSURE.
THE ABOVE DISCLOSURE SAYS MY FUNDS WOULD BE AVAILABLE 1-17-08, here we are and I am being told to WAIT 7 days to trade or 5 days to get my money back. UNACCPETABLE!!!!!
Tierney McClary; Certified Public Accountant
THIS WILL BE SENT TO THE SEC, THE NASDAQ, BOH, and posted on every consumer site I can find.