E*Trade Financial review: Asset transfer

The problem has persisted for several months

Following the decision of E*TRADE to change the status of my account, I have been trying to transfer my assets away from E*TRADE for several months, and I am being given the runaround. Every time a transfer request is submitted, you state a different reason for rejecting the transfer request. It is impossible to get anyone to provide details of your requirements.

My last phone call with E*TRADE on 9th January lasted over 45 minutes; I was assured the asset transfer request submitted on 8th January was being processed, only for it to be rejected the next day.

On 8th January via secure message:

Your request to process Correspondence for account XXXXX-XXXX has been received and fulfilled.

On 9th January

I spend 45 minutes on the phone with E*TRADE and assured everything is ok.

On 10th January via secure message:

Your Asset Transfer Request was rejected.

There is no email alert (as is customary with most other financial institutions) to say I have a response to secure message. E*TRADE expects me to log into my account everyday to check the status of a pending transaction

The party to who I wish to transfer my assets has submitted documents to E*Trade numerous times but can never get any feedback.

Customer service is unacceptable, and the knowledge of agents is clearly inadequate. Having no means of establishing a single contact within E*TRADE to resolve issues means a never-ending back and forth.

Since E*TRADE initiated the action leading to me transferring my assets, why the make it so difficult for me to move my assets away from E*Trade.