Comments on: E-trade sucks http://nothingreallypoignant.com/2002/05/02/e-trade-sucks/ A glimpse into the life of an American living in Taiwan. Fri, 12 Mar 2010 00:54:40 +0000 http://wordpress.com/ hourly 1 By: James http://nothingreallypoignant.com/2002/05/02/e-trade-sucks/#comment-10110 James Sat, 11 Apr 2009 15:17:57 +0000 http://jimmod.wordpress.com/2002/05/02/e-trade-sucks/#comment-10110 Hi Robert, Although I feel for you concerning your experience - I was worried with some of the pop-ups / ads on your site and removed the link. Your comment is helpful though and highlights the true issue with E Trade. Honestly - I gave them another try again - transferred some money from my bank account to a new Etrade savings account to make some stock purchases, then they said I need to send in a copy of my social security number to verify I am legit (after taking my money and having prior account information). I asked if i could send my passport copy instead, and they said this isn't good enough. I decided it wasn't worth the hassle and I should have known better. I transferred all my money back to my account, minus 1 USD to prevent having the E Trade savings account go below the minimum balance and asked E Trade to close the account and have a check cut. Hi Robert,

Although I feel for you concerning your experience – I was worried with some of the pop-ups / ads on your site and removed the link. Your comment is helpful though and highlights the true issue with E Trade. Honestly – I gave them another try again – transferred some money from my bank account to a new Etrade savings account to make some stock purchases, then they said I need to send in a copy of my social security number to verify I am legit (after taking my money and having prior account information). I asked if i could send my passport copy instead, and they said this isn’t good enough. I decided it wasn’t worth the hassle and I should have known better. I transferred all my money back to my account, minus 1 USD to prevent having the E Trade savings account go below the minimum balance and asked E Trade to close the account and have a check cut.

]]> By: Robert http://nothingreallypoignant.com/2002/05/02/e-trade-sucks/#comment-10108 Robert Sun, 29 Mar 2009 23:15:36 +0000 http://jimmod.wordpress.com/2002/05/02/e-trade-sucks/#comment-10108 In February 2009, E Trade sold all of my stocks, at a loss of $9,862.00, to satisfy $240.00 in “Maintenance fees”, without my permission or giving me any prior notice. I'm so mad I created a web site at (removed) to help spread the word about it. I even provided screen captures of my account and the emails I got as evidence of their corrupt policy. I urge everyone taken by these guys to file an SEC complaint! In February 2009, E Trade sold all of my stocks, at a loss of $9,862.00, to satisfy $240.00 in “Maintenance fees”, without my permission or giving me any prior notice. I’m so mad I created a web site at (removed) to help spread the word about it. I even provided screen captures of my account and the emails I got as evidence of their corrupt policy. I urge everyone taken by these guys to file an SEC complaint!

]]> By: Bonifacius http://nothingreallypoignant.com/2002/05/02/e-trade-sucks/#comment-10 Bonifacius Wed, 12 Apr 2006 15:38:10 +0000 http://jimmod.wordpress.com/2002/05/02/e-trade-sucks/#comment-10 Great article. I am just sad I dont know how to reply properly, though, since I want to show my appreciation like many other. Great article. I am just sad I dont know how to reply properly, though, since I want to show my appreciation like many other.

]]> By: James http://nothingreallypoignant.com/2002/05/02/e-trade-sucks/#comment-9 James Sun, 11 Dec 2005 11:37:31 +0000 http://jimmod.wordpress.com/2002/05/02/e-trade-sucks/#comment-9 I origionally wrote this back in 2002. It is a shame that they seem to get suckier every year. I origionally wrote this back in 2002. It is a shame that they seem to get suckier every year.

]]> By: Christophe Delsol http://nothingreallypoignant.com/2002/05/02/e-trade-sucks/#comment-8 Christophe Delsol Tue, 06 Dec 2005 16:07:31 +0000 http://jimmod.wordpress.com/2002/05/02/e-trade-sucks/#comment-8 E-Trade service is really bad read for yourself. 1) Phone 12_04_2005 (45 minutes hold time) to close one of my E-Trade accounts and move the content (less then $2000) to my E-Trade IRA account. Was told it would be done soon and would be visible on monday morning. 2) Monday morning still not visible. Phone (20 minutes hold time) to ask why. I''m told by Ziishan (ext 3171) that it took a little longer and should be done by the next morning at the latest. 3) Tuesday morning still not done. Phone (10 minutes hold time) again this time I speak with Levar (ext: 4453). I explain what I want and tell him about the previous 2 calls. He tells me it should be done soon. I ask "When will it be DONE?" he has the "balls" (pardon my french) to say "Well it's initiated now". So I insiste he gives me a "done target date". Put me on hold again (for minutes at a time). This time he comes back and says "You can not trasnfer the securities into your IRA". So now after insisting for a "done date" I got a "never will happen condition". At this point I do not trust what this man is saying since he appear to have been trying to just get me to end the call (his last word were "the transfer is initiated"....). I ask to speak to a manager, to get this done. It get Rene (ext 4453). After describing the situation to Rene I proceed to try immediatly understand the structure of the "customer service deparmtnet". I learn that she is really an "acting" team lead, the real team lead is Chris Dodson which himself reports to Connie Forster. Anyway after making her verify (since IRA is not her forte) she confirm that I must sell my stock and transfer the cash to my E-Trade IRA. I get online sell my stock at market and tell her "ok now my account is all cash, when can you close this account and trasnfer it's content to my other E-Trade account". She says that they now have to wait 3 days for the "stock sell" to clear and then will finially complete the trasnfer and closing of the account. So it should be done by next Monday. I hope it will be. Conclusion E-Trade customer service sucks big time. By the way the reason I'm closing one of my E-Trade accounts is that they were charging a $40/maintenance fee per quarter, $160/year since years. They "double suck", stay away from E-Trade...it a matter of weeks before I cloase my last E-Trade account away. E-Trade is going down... E-Trade service is really bad read for yourself.
1) Phone 12_04_2005 (45 minutes hold time) to close one of my E-Trade accounts and move the content (less then $2000) to my E-Trade IRA account.
Was told it would be done soon and would be visible on monday morning.
2) Monday morning still not visible. Phone (20 minutes hold time) to ask why. I”m told by Ziishan (ext 3171) that it took a little longer and should be done by the next morning at the latest.
3) Tuesday morning still not done. Phone (10 minutes hold time) again this time I speak with Levar (ext: 4453). I explain what I want and tell him about the previous 2 calls. He tells me it should be done soon. I ask “When will it be DONE?” he has the “balls” (pardon my french) to say “Well it’s initiated now”. So I insiste he gives me a “done target date”. Put me on hold again (for minutes at a time).
This time he comes back and says “You can not trasnfer the securities into your IRA”. So now after insisting for a “done date” I got a “never will happen condition”. At this point I do not trust what this man is saying since he appear to have been trying to just get me to end the call (his last word were “the transfer is initiated”….). I ask to speak to a manager, to get this done.
It get Rene (ext 4453). After describing the situation to Rene I proceed to try immediatly understand the structure of the “customer service deparmtnet”. I learn that she is really an “acting” team lead, the real team lead is Chris Dodson which himself reports to Connie Forster. Anyway after making her verify (since IRA is not her forte) she confirm that I must sell my stock and transfer the cash to my E-Trade IRA. I get online sell my stock at market and tell her “ok now my account is all cash, when can you close this account and trasnfer it’s content to my other E-Trade account”. She says that they now have to wait 3 days for the “stock sell” to clear and then will finially complete the trasnfer and closing of the account. So it should be done by next Monday. I hope it will be.

Conclusion E-Trade customer service sucks big time. By the way the reason I’m closing one of my E-Trade accounts is that they were charging a $40/maintenance fee per quarter, $160/year since years. They “double suck”, stay away from E-Trade…it a matter of weeks before I cloase my last E-Trade account away. E-Trade is going down…

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