E-Trade Complaint - Froze My Assets With No Cause Or Warning - Brokerage Account
Brokerage Account - Complaint
ROANOKE, VIRGINIA -- Etrade gladly took my account from another company. Then all of a sudden I received a phone call asking me a bunch of "identity questions." I was told they wanted to clear up "my issue." I said I didn't have an "issue...they called me." They asked me stupid questions, one of which was to identify 4 zip codes in which I've lived. I failed my own identity test because I could only name 3! The next thing I know I'm told they would liquidate my entire account and send me a check within 30 days unless I move it elsewhere. They said they had the right to refuse to do business with me. So, I'm thinking my civil rights have been violated and I want to sue them, but I also recognize that my primary focus has to be on getting my money somewhere safe, AND QUICKLY. So I ask the person I was on the phone with how fast can I get my account transferred. Turns out that person is in THE PHILIPPINES working at a call center for Etrade. She said she'd have to "check with a licensed broker." I was on hold for 51 minutes and 6 seconds before I finally just hung up and called my tax preparer for suggestions.
I can only imagine what elderly, hard-of-hearing folks must go through dealing with ETRADE. I believe the company is riddled with problems!!!