E*Trade Complaint - Ripped off my checking account
I opened this savings account online and initiated the ACH transfer of the initial balance from my checking account. 3 days later they took the money from my checking account. It did not post to their account. Per their agreement the account is not fully open until they have a signature card on file.
I received said card and returned it to them 3 days later. Over a week passed and still my money did not appear in my savings account. I sent an email. The response was we can not locate an account for you, you have to call. I called the 800 number and spoke with a representative who spoke so little English that she absolutely could not understand me or why I was calling. I asked for a supervisor. After a VERY long wait, the same rep comes back on the line and says there are no supervisors available. I terminated the call and sent another email requesting the account be closed. No response. I drafted a letter ordering them to close the account and return my deposit and put it into the mail.
I also Googled to see if others had this sort of problem and was dismayed at what I found! I hold out little hope that I will ever see my money again. Fortunately it is only $25.00. But after reading this:
http://wilshipley.com/blog/2006/05/etheft-etrade.html, I am now extremely concerned that I will have close my checking account to keep E*Trade from making illegal transfers from it. I have my direct deposit and all my automatic payments for things like my utilities attached to that account. Closing it and opening a new one will be a hardship. I can not tell you how sick I am about this. Yes, I do accept my responsibility for not seeking out this information in the first place. My initial research was into the savings account itself, not into problems with E*Trade and that search turned up good reviews – including that they have outstanding security features – the main selling point for opening this account.
Now I am extremely sorry I even considered E*Trade to do business with. Extremely sorry.