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ETRADE Report Card

Overall rating score 40%
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ETRADE Customer Review

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Philip H's Profile Image

1 out of 5 marks

Reviewed by Philip H

Mar 4th 2010

Incompetent

I Googled around for reviews on E*TRADE before deciding to bank with them. I heard nothing but horrible reviews but ignored them thinking that many of the issues were just specific to reviewer circumstances or obsolete by now. I haven't even received my checks yet & I am attempting to close the account due to an already existent account freeze where I received notification that there is suspicious activity, to call and confirm identity, and to deal with customer service which has absolutely no clue and no options in regards to my account status. I'm told to wait for a letter in the mail, that they have no one I can talk to for details, and when asking for someone to talk to in regards to closing my account they stated that they don't have anyone capable of doing that. They were, however, very equipped when I needed to OPEN a new account. I only put $100 in the account but I can tell already this is going to be a total hassle. I regret that I ignored the reviews--I should have known better. If this is the vibe I get now, I can only imagine how much of a hassle it would be down the road. I went with Ally Bank & I ain't lookin' back. Ally, on the other hand, is a totally different story. Check 'em out.

Is this review helpful? ▲ Yes 2 ▼ No 0

Other ETRADE Reviews

mpuppet's Profile Image

Reviewed by mpuppet

Apr 15th 2014

1 out of 5 marks

Locked out of account

etrade locked me out of my account because I attempted to wire money to a bank account in my name in the UK. I had followed their directions and attached a copy of my passport.

I called them the minute I noticed their call but they acted very suspicious and said I needed to talk to the "Unit" that handles these issues. Four days later when this special unit got around to calling me, I find out that this unit is the security unit. Paranoid does not describe the mall cop I spoke too. I did not have the correct phone number for my account he finally told me. This was an account that was bought out twice so the original phone number was 20 years old and 6 residences previous. But I had answers for all of their other questions. Not good enough. Dude was such a jerk. You know, the IT security dude. Sorry for those of you who are good ones. This guy was a cop wanna be. You know how they talk to you. Guilty until proven innocent.

I told them to forget about the wire, I would transfer the money to another U.S. account that has resided on my quick transfer screen for a couple of years. Nope. Still locked out until I go to the U.S Consulate and get a notarized affidavit for identity. Because the alternative in the UK seems to take over 2 weeks.

If eTrade wants to have strict security then introduce a number validation card like B of A or others. Or have more security questions like other banking and brokerage accounts.

All activity on an account seems suspicious to them. Well my suspicion is that this is the cheap way to maintain security and they use your cash while the account is in lock down. Just a little extra interest to keep them afloat.

When my account is unlocked, everything will be moved.

Is this review helpful? ▲ Yes 1 ▼ No 0

Max723's Profile Image

Reviewed by Max723

Jan 19th 2014

1 out of 5 marks

Awful

I tried to open an account at etrade around January 1 2014. My credit bureau has a fraud alert system for security reasons. So I was told I had to mail a copy of my ID and SSN cards.

I sent it in in a full clear color printer copy.

I waited a week and called and was told that my SSN card copy was not clear enough in their scanned copy. The guy said I must have faxed it in. No it was not faxed in, it is their scanner problem. Then I was told to fax another copy.

Since then I have opened an account at Scottrade and TDAmeritrade. TDAmeritrade even just verified over the phone and did not ask for any ID copies.

So I will agree with the other complaints that these etrade people are incredibly incompetent.

Is this review helpful? ▲ Yes 2 ▼ No 0

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