E*Trade Informative - Opening a new account...
ATLANTA, GEORGIA -- I applied for a new account by mail on December 16th 2007 and after not receiving any response I called in to check the status in the first week of January.
The customer service rep was cooperative but did not find my application. However, after looking for it for 30 minutes (on hold) he finally found it and told me that my SS# is missing.
He said that he will put it through after I gave the information on phone and said that somebody will call me next day to make sure everything is okay.
Nobody called me!
Since then I called twice inquiring about the application and in each case the Customer service took 30 minutes to locate the application. I was told that they are very sorry and I will hear from them same/next day by phone.
Finally today I called and again had to wait for 30 minutes till they located my application. Finally the guy told me that the SS# is still missing and I have to apply again.
I got frustrated and asked him to cancel my application.
Lesson #1: If opening an account is so difficult then what can happen when they get my money?
Lesson #2: Maybe their website is outsourced and I bet they do not have a proper computer system in-house otherwise how can somebody take 30 minutes to locate an application not once but four times!
So take your chances! not all 5.05% interest rate accounts are worth applying!!!