E*Trade Finacial
Complete ripoff, holding cash for an absurd period of time

As we all know, E*Trade Financial has had some financial difficulties over the past several months.

I foolishly attempted to take advantage of their Max-Rate checking (3.25 % interest for a $5000 min balance, and their complete savings at a 3.45 % balance) The interest rate on the Complete Savings actually dropped to 3.01 the very next day after opening the account.

In all, I transferred about $25,000 from another online bank (3.05%) and distributed the money between the two accounts. The transfers occured between 3/31 and 4/2.

The funds are not available.

They will be available on 4/12. What a freakin' rip. Almost 2 weeks, these were not checks, it was cash from another bank that was taken from the other bank, and E*Trade has the money. Oh, but they are paying interest on it as of 4/2.

As soon as this cash is available to me, it will be going right back to the other bank.

Do not use E*Trade.

Company: E*Trade Finacial
Country: USA
Site: etrade.com

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