E*Trade Financial
Reviews and Complaints

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

My account has been restricted and Etrade told me to acknowledge that I must call specific numbers to resolve the issue during specific EST hours. I did as they said and have repeatedly had to wait more than 30 minutes on a waitlist. The music is terrible and repetitive, and my issue is still not resolved. Right now I am unable to use my account as usual for a reason they haven't disclosed in enough detail ('unusual activity'). It is to the disadvantage to an investor such as myself, who wishes full disclosure from my investing platform. It defeats the purpose of using Etrade as there is no efficiency for such delicate issues.

E*Trade restricted my account and I complied with requirements on 6/3/22. Called Saturday and was told I needed to upload better quality on 6/4 which I did. Went through last week getting danced with long hold times and "in process" stalling. I called on 6/10 and the Customer Service (always well handled by them) checked with Account Activation and told me that I had submitted everything that was needed and the file was being processed. Called 6/13 and after long holds, working my way to account activation and being put on hold to "review my file" was told that I would be transferred which was to the feedback service. 10 days with this kind of treatment for something that shold not have been a problem in the first place is absurd. This does not seem like the manner in which a healthy, functioning business would operate to me.

5/30 - 6/6

For the past week and a half I’ve tried reaching someone who can help me with my account. I opened a bank/checking account online and have been unable to speak with anyone regarding the message I receive when logging in (see below and attached email):

Account Restriction

Due to a change in your account status, access to certain features in your account(s) may be temporarily limited until we are able to speak with you. Please contact 1-800-ETRADE-[protected]) anytime, seven days a week. From outside the U.S. call +[protected].

I have to say that this is by far the worst customer experience ever from E-Trade. How can you possible expect people to wait on the phone for over an hour every time they call? If you’re interested, take a look at the reddit.com feeds on how frustrated people are.

Unfortunately, because I’ve been unable to reach anyone - despite getting emails that say I need to reach out and call- I am asking that this account be closed.

Please work on making this a better customer experience. The very least you can do is offer an email or chat option on the website so people don’t feel like they’re funding an account belonging to an organization that can care less about their money.

I have an account with etrade. Because of a typo they put a restriction on my account. They asked me to upload a copy of my social security card so they could confirm my SS#. I did that over a week ago and all the keep saying is it will take 2-3 days for the "backroom" to get this changed. Seriously, I needed my money a week ago and they are holding it hostage. I have a savings account with them which they let me transfer from so I really don't understand it. Is there anything I can do to hurry this along? Do I need to take legal action?

When calling Customer Service, the shortest phone wait time I have encountered is 90 minutes with most calls telling me over 2 hours of wait time.

Also, I cannot locate the online chat app on the site, either.

My name is

Joseph T Maimona

521 W Bay St #10

Jacksonville, FL 32202

I had an ankle injury some time back and lost my P O Box (could not get out to pay for it) during that time, so I asked them to please only contact me at my residence (above) which I believe is on file as well or to email me.

Phone: [protected]

E*Trade account [protected]

I am over 82 years old and do not have access to a computer, so I have asked my neighbor to try and get me access to my account.

I do not have access to my old att.net email as I was using another person’s account with whom I am not in contact with anymore.

I now have a Gmail account: [protected]@gmail.com

I have asked them to send a regular letter (with or without a check [preferably with] for my account balance) to me at my address.

I have also written to Morgan Stanley which now owns E*Trade. No answer from them either,

WITH CUSTOMER SERVICE AS BAD AS IT IS, I WILL MOVE MY ACCOUNT TO ANOTHER BROKER. ALSO, ALL THE FLORIDA BRANCHES ARE CLOSED AND I CANNOT REACH THEM EITHER.

MY NEXT STEP IS TO FILE A FORMAL COMPLAINT WITH THE SEC

I have been reaching out to Etrade customer service for 6 weeks now - via email, secure messaging, paper mail and phone. Phone calls all involve long wait times, especially to beneficiary services where I consistently wait over 90 minutes to talk to a representative. On multiple occasions, I have been promised a callback or timely response - which never happened.

I have been trying to reconcile 3 issues, 2 of which are related to my husband’s passing in January.

The most time-sensitive issue for me is getting the assets in his Roth IRA account transferred into my Roth IRA. Both accounts are with ETrade, and I am listed as the 100% beneficiary on his account. I uploaded his death certificate with the transfer request (no one ever told me that they needed the original/certified certificate until I reached out to check on the transfer status). I immediately mailed them a certified certificate. Since then, nothing has happened. I have been perpetually told that the transfer is “in process”, but no one can give me a date when it will happen.

This has become time-sensitive for me - since I need those accounts combined for a pending mortgage application.

Estate-related requests at my other brokerage firm were all reconciled within 48 hours of my uploading a death certificate. I cannot understand why it is taking weeks to get this accomplished at ETrade.

*and I have also reached out to my local branch to see if they can assist. I have sent at least 3 emails and an appointment request - no response.