E*Trade Financial
Reviews and Complaints

New Level of Incompetence

I have been a loyal customer of ETrade for thirteen years. About three weeks ago I attempted to log into my account.A verification code was needed. The phone number given which would receive the code accepts voice, but not codes. I wasted about four hour with support to try to log in. At that time I was required to upload an ID document and a statement with the date and confirming who I was. I wonder if it occurred to ETrade that not all customers log in via a cell phone.Do they realize that some customers log in via PC's and other types of computers? This four hour nightmare was primarily caused by the support person not making it clear that a photo needed to be taken via a camera on my PC and that photo of my statement needed to be uploaded with my ID document (in this case my driver license). I finally got accessed to my account, but when I tried to log in on a later date the same nonsense occurred. On the previous successful login I included my cell phone which can receive codes. On this next login attempt I was not allowed to use my cell phone to receive the verification code. I have verified myself at other sites by (1) receiving a voice code on my phone, (2) receiving a code on my cell phone, and (3) receiving a code via email. The numbskulls who put the new verification method in place do not allow me to use any one of the three methods I've used with other login sites. For the most part, the support people did their best to get me logged in. Consider the enormous waste of customer support efforts that should not have occurred. You are pathetic, ETrade.

E*Trade estates department has asked me for the same document repeatedly. I send it to them and they do not follow up. They have transferred 2 IRA accounts to my name and account but continue to drag their heals regarding the Individual account. They have all the documents they asked for but have not transferred the account and it has been 7 months. Their customer service rep Esther has hung up on me two times during a phone call. I get no follow up. The original case manager either quit or was fired and no one informed me. The new case manager has never contacted me. I am helpless and they have my money. I am the beneficiary and executor.

Hello, Etrade went onto a two-factor authorization, except that you need a cell phone in order for them to text you a code which is all fine except I don't have a cellphone and when you click on an alternative method, it doesn't work. I have emailed them a few times now but to no avail. They should not have introduced a new system unless they had everything sorted. It has been a week now and I can't get into my accounts.

I got a cell message that there was a $1.15 charge by Amazon on my

E* Trade debit card...the computer voice asked if I recognized the charge...I went to my account online and did not see a $1.15 charge so I said "no" by pressing 3. immediately the voice said "your card had been canceled".

I called etrade.

I was informed that they would issue a new card but not to where I live which is in Mexico.

First complaint: that computer voice should have said, if you don't recognize the charge, please call etrade to investigate my account...

Next Complaint: Capital One sent me a card by a delivery service a couple of years ago. But, Morgan Stanley Global Bank with a facility in Mexico City and many many cities outside the USA! The fellow I spoke with told me there was No one I could talk to about this because his manager said they would not mail a card out of the USA...period.

hello,

last week on Friday June 2nd, 2023 around 10 am, I contacted your customer service and was represented by Jackson Pingree, who was terribly unhelpful. He responded once to me, told me to explain my concerns or questions and never responded again.

I'd like to state that I am limited to my communications as a deaf individual and am unable to communicate via telephone, so when he refused to return a single message back to me, it was very disappointing, and I still feel like my situation was not resolved.

Is this the type of accessibility I should expect? This is not very inclusive at all, and I am highly disappointed in your service representative.

My brokerage account ends in 8454, my name is Jeremy Ford, you can contact me at [protected]@gmail.com and I will be expecting a response in some form about this.

I moved to a new location last year at which time I changed my personal information with E*Trade. I have since had issues with them still sending my emails to the previous email address, which took some phone calls to resolve. Now recently I received a letter stating I had changed my personal information on one of my accounts, with an old address that is a year old. I called E*Trade to try and resolve and the representative stated that this was normal. I continued to voiced my concerns about my account as I had not made any changes and also my concerns about them using an old address. He was not able to help and actually told me I need to close down my accounts to resolve this issue. I then asked to speak to a supervisor which I was put on hold for over an hour at which time I hung up. I plan on reporting this as it is apparent they are not handling my private information correctly.

I have been trying to transfer my retirement account from etrade to my new financial advisor for just over two months now ( 3/6 ) I had other accounts with Ameritrade and Vanguard that took just two weeks to transfer. Etrade keeps throwing obstacles in the way for this transfer to happen. I have been calling them and resubmitting the transfer form often the past 30 days or so . My financial advisor says they always have this problem with Etrade. I am so pissed with Etrade right now. What can I do?

I opened an account a checking account with ETrade. They required me to call in to account services a few times to verify and send in documents. This is after the account was open and the funds had been held for the amount allowed by federal laws. I provide all requested items and after calling in a third time they informed me that by online access had been terminated and now that I can't submit documents online that have to go and do additional steps to submit the same documents. ETrade has never sent me or informed me in writing or via text a reason that the documents need to be resubmitted, what the issue was with the ones I originally submitted and what if anything would further be required to get my restriction lifted and allow me access to cleared funds.

I rolled over my Roth IRA in 2022. I did not receive the required tax forms. When I went to download the forms from the e-Trade site, there are no forms available and I am unable to contact Customer Service (much less find contact information) because I no longer have an active account with them. Should be illegal to block access to prior tax year's records and block all communication channels with the company to try and resolve the issue.

After opening an account with them, shortly after they wanted me to upload documents. the first guy i spoke with was cool. sent everything in called back and a female was just rude, then said she couldnt see my documents because of the background, lies. its barley visable.

She locked all my accounts and all the while im losing money.

Dont trade with them from what i see now customer service is trash.

Pretty sure its at home workers, the lack of care shows.

There wasnt an issue untill my account generated money, they were happy to take my money and give me penny's.

Strikes me odd.

Then the lady wanted me to call my bank while she is on the line to verify my account. That's not normal to me. Especially since you need a special code.

I dont want some random lady to have my secret code.

Its been over a year since I opened my account with e trade I invested 10 thousand into a joint investment account. Soon after opening my account E trade notify me saying "we no longer wanna do business with you" My response was no problem cool great wonderful Run me my 10 racks and that's when [censored] fell apart. I been giving the run around ever since they don't wanna give me my money back. I sent them a copie off both account holders drivers license, social security cards you name it I sent it 5 maybe 6 times faxef it mailed it e~emailed it. I didn't even have to show id to open the account. They are truly a scam I will only work with fidelity in the future

Opened an account to test the company before I moved all of my investment funds to them. After over a year and at best, the fees cancel out any earnings every month. Most of the time the fees are more than the earnings. When you try to sell assets and get your money back for such a poor quality product, you have to jump through hoops. Been trying to get my money back for months as it just steadily decreases due to fees and they’re holding the money hostage.

Two weeks after opening accounts with E-Trade, all 3 are now frozen. I've called multiple times and no one is willing to help and the agents seem to not know what they want from me. They claim that my employer's (a state agency) check is fraudulent. The 1st and 3rd check (from the same employer) deposited are not fraudulent, but the 2nd one is. I asked why and how is it fraudulent and they couldn't give me an answer. Could it be the name on the check? Is a person with my name not supposed to deposit a $1000+ check ? I was told I needed to submit a letter of intent along with a picture ID. I did. Then, I was told I needed to submit them both on one file. I did. Then, I was told I need to submit proof that my employer issued me that check. Again, they accepted my 1st and 3rd check deposited since opening 3 accounts with them, but for the 2nd check I need to prove that my employer issued me it. So then, they asked to see a pay stub, which I don't have for that check because I don't keep my pay stubs. Why should I? I got paid what I was owed by my employer for the check's pay period so I have no need to keep it. So I instructed the agent for E-Trade to reject my check so that I may deposit it at another institution. She said they can't do that. So I asked her what will happen when my employer's check clears, just like the 1st one, proving that it obviously isn't a fraudulent check. She said that they still won't unfreeze my accounts. This is a betrayal of trust and I don't know what options I have.

To E*TRADE Compliance/Customer Complaint,

My name is Maryann Colucci. I am filing this letter as a formal complaint against E*TRADE. I am recently widowed and my deceased husband had opened a Tenants in Common account on 01/20/2021, account number [protected]. This account was co-owned by myself and my son Anthony. My husband, Richard A. Colucci, passed on June 17th of 2022. I called E*TRADE two business days after his passing to alert Chad Morris, his financial advisor, that Richard Colucci had passed. At that time Chad said that he would alert the Platinum E*TRADE team of his passing. My husband had vast experience with investing for many years. I on the other hand have no investing experience. I received no direction on this Tenant in Common account when I called. I did not know that the account was so high risk and was heavily traded on margin. Chad told us on the call that Richard did all of his own trading, and had a lot of experience, but that was it.

On August 17th we called E*TRADE and spoke to Chad Morris when another advisor, from Raymond James, told us that this account was very high risk and on margin. We asked for the call to be recorded and requested that the margin be removed immediately from the account. Chad told us that this could not be done because it is a Joint Tenants in Common account and that Richard’s part of the account needed to be put into an estate account. I feel that this caused irreparable damage to the value of the account since August 17th. The margin has increased, and the value of the cash position has dropped. In my opinion the margin should have been immediately removed given the fact that I have no investment experience and the risk associated with this account does not fit my best interests.

Furthermore we were directed to speak to E*TRADE Beneficiary Services Team, and were told that the margin can not be removed until a new Estate account was open. These accounts were only able to be transferred to a like account. I filled out the new estate account form for Richard’s part of the account and sent in the letters of testamentary, the tax ID of the estate, and the certification of the tax ID for the estate. We were not told that this process could take up to fourteen business days. Given the significant risk involved with a margin account, and the current market conditions this was a recipe for disaster. Due to a series of miscommunications by the beneficiary services team this process was even more delayed. We were told that the margin was only able to be removed once the new estate account was opened. Since that time we are losing funds rapidly.

I am requesting that the margin account is closed and covered with no cost to me or my husband’s estate. I am also requesting that the value of this account is restored to the highest value as of my request to removed the margin was made on August 17th 2022. I expect that E*TRADE will do the right thing for a widow with no investment experience.

We opened a case in regards to my deceased Uncle, Bruce Bodel, case # [protected]. over a year ago. It took ages to resolve 2 of the 3 accounts, we are on the last one. And they keep giving us misinformation, lies, and problems. The legal team approved documents, then changed their minds/methods, no one bothered to tell us. And then when we sent new docs, we are now waiting again, for a simple yes or no for percentage amounts. They have had everything for ages (I mean months for the new docs, over a year for the old ones), no one bothers to get back to us. They tell us their legal time doesn't even have a number for THEM to call. They can only communicate via EMAIL. Every time I call I get a different story, a different time of how long to wait for an answer. My dad or sister will call, and again they get different answers. I have been promised several times, that everything was done and approved and the funds would be distributed within 3 days, sometimes 7 days. One time 24 hours. This is not how a financial company should behave.

i was trying to deposit my check through e trade after being unfamiliar with how mobile deposit works and how long etrade said they would hold the funds i asked them to disregard cashing the check and i would cash it elsewhere they said ok. so i cashed it at a check cashing well next thing i know etrade decides to cash it and close my account. now i owe the check cashing people and etrade refuses to turn over the funds to annyone. this is crazy because im quite sure etrade planned this whole scam

I have been a customer for 3 years. My mother and I recently decided to open a joint savings account with eTrade. A couple days later, they closed both accounts and kept my money. Since June, I have been calling and calling and calling, and no resolution! They are wasting my time and keeping my money for no reason. A check needs to be sent back to the address on file if such action occurs. The latest representative said he was going to call me back the next day after he finds out what the process is. It has been a week and no one called me back. I am trying to find out how i can sue eTrade for not giving me my funds back.

Stay away from this institution,

I opened up my accounts at E*Trade “Morgan Stanley private bank” three weeks ago. Soon as I deposited funds into my checking they restricted my account due to “unusual activity” so in order to lift these restrictions they said they needed to speak with me and provided a account activation number to call. I’ve called and spoke with two customer service reps a few day apart from each other and provided all the information I was asked to verify and also uploaded my state drivers license, external bank statements, and they even had me upload a hand written note explaining the reason for deposits being returned by my bank with my name and account numbers all wrote down. Both of these times I was told that’s all they needed from me my account and money would be accessible in a couple days. It’s going on two weeks now and nothings changed at all still haven’t lifted restrictions. I’ve tried to call back yet again and have sat on hold for multiple hours on multiple occasions trying to get through with no luck at all. I’ve wrote them about ten times within the E*trade app explaining how I’ve complied and handled the matter twice now but get the same unhelpful message to call each time. I haven’t been able to access my accounts or money since opening my accounts.

I transferred money into etrade savings account because they raised their interest rate. I made many transfers in. Shortly after another bank gave a better rate. Etrade has locked my account for over a week because I was transferring MY money out of their account. I asked for the policy that sates we have to 3 way call my banks and verify my account and they could not provide any. My account was locked and unlocked 4 times and only after 10 plus calls and hours on hold was a small transfer finally able to go through. I just want to be done with etrade but can not transfer my own money.

I was a new customer to E*Trade just deposited 15k and was using my card for one day and account was froze l. Everytime I called the wait was 3+ hours to do everything the asked me to do and not be able to access my account next thing I know my account was closed and found out in a lettering the mail due to someone one else opened a account in my name and I have done sent them my driver’s license and ss card like this is poor customer service. I have over 12000 of my money that I want back if not I am going to find a attorney this is fraud if you ask me