E*TRADE Securities LLC
E

My problem is a very simple one: Etrade is de facto refusing to close my account.

I have been trying to close my Etrade account since end of November. After having sold all my stock asset I ended up with a cash balance and two worthless stocks. After a couple of calls to Etrade, they decided to issue stock certificates for those stocks and send them to me, refusing my request of simply "disposing" of them (they cannot be sold on the market). One of the two worthless stocks disappeared promptly from my account over a month ago, whereas the other is still lying there for no reason.

Meanwhile, I tried for two months to wire my cash balance to another bank's account but to no avail. Each time I followed the instructions I have been given, including faxing them 4 times my request. Each fax has been considered unsuitable for variuos petty reasons including: adding a fax of the passport along the wire request, adding an enlarged image of the passport, changing the expression "wire all my cash balance" with "wire $... (exact amount)", etc...

The process took so long that meanwhile the receiving bank changed their swift code and I had to resubmit a new fax with the updated code. This just triggered a new series of fax requests because: the passport is not yet legible, the request has not been properly signed...
At that point, I figured they were just making new rules up each time in the attempt of not executing my wiring request.

I decided to explicitely ask Etrade to provide me with a precise list of all the instructions I should follow to have my cash balance wired. This list should have been signed by a responsible account manager, whom I would have hold accountable for processing my wiring request.
An Etrade's Financial Services Representative just replied me that "we will not disclose specifics of our wire policy".

I have already filed complaints to Better Business Bureau and finra, but when I let them know, the representatives at Etrade didn't seem to be worried about it.

From what I could grasp searching on the web, Etrade collected a long record of complaints regarding their customer's accounts policies and abuses. I wonder if the victims of such misconduct could join together in filing a class action against Etrade.

Zaf
milano
Italy

Company: E*TRADE Securities LLC
Country: USA
State: Virginia
City: Merrifield
Address: P.O. Box 1542
Phone: 18003872331

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