E-trade Complaint - If You Value Your Sanity Do Not Use Etrade - For Anything!
NEW YORK, NEW YORK -- We had a Line of Credit that was sold to ETrade Bank. They are absolutely the WORST company I have ever dealt with in my life. Trying to get the loan paid off is a nightmare. After a recent home refinance, our title company sent a payoff with the request that the loan be paid off, closed and title release forwarded. If there were any problems, such as an incorrect amount required for closing, please call the title company immediately. After two months we discovered that there was still a small balance remaining on the account. After spending nearly an hour on the phone and speaking to two individuals trying to find out why we were not supplied with corrected information for closing, we were told that their service department is NOT ALLOWED to call customers when there is a problem. All they can do is cash checks. They will not contact you even if you request it in writing. When you call them no one has the authority to do anything. You can only write or fax them, they have no contact numbers for individuals. They also claimed not to have received any paperwork with the check, then after further research found an eTrade form, but denied finding the title company's transmittal request. I for one do not believe that a title company would send a check, the financial company's payoff form and neglect to send their own transmittal form, signed by us, requesting release of the lien (I have a copy of the form).
I used to work for a bank that actually helped customers, so I could not believe this horrible attitude. Our bank would have been on the phone within 5 minutes to clear up any problems. Thankfully, we were not in a situation where we were trying to sell the house and had to wait for a lien release.
This is a situation where we were trying to GIVE them money. Their poor customer service has cost additional time and fees on our part to get this matter settled. Can you imagine the horror if you were trying to get your money out of them. If you value your sanity, read the other reviews of eTrade and go elsewhere. There are other financial institutions/brokerages who still value your business, that are cheaper, and have helpful customer service departments.