E Trade
Brokerage And MMA E Trade Brokerage and MMA Siphons Bank Account Thru Deceptive Business Practices

When I opened my E TRade brokerage account I was told the way to avoid fees was to also open a Money Market account. All I needed to do was keep $2000 between the two accounts. I opened a $200 MMA online. I get a brokerage statement each month but it doesn't mention the MMA. So it looks like everything is fine and I am not being charged. I'm also under the impression that the $200 online MMA account is fine b/c I followed their rules. WRONG! Since the day I opened the Money Market Account E Trade began to drain it until it was all gone. I was out $200 and got zero satisfaction or customer service from etrade re. The matter and the fact that their own sales person pitched me this idea. Each supervisor i was passed onto told me they did not have the authority to fix the problem. I spent over three hours on the phone, even talked to people in the PHillipines. This is a SICK company which wastes its own time and money while it steals yours. The only way I could've put a stop to it was to check the online amount every month, but it was a bogus checking account to begin with anyway. This company is seriously bad news and a larger nationwide class action should be brought against their deceptions and incompetence. Once I discovered the fraud, they said the minimum in both accounts not to incur fees was $5000. It was conveniently left out of the conversation with the intial customer service rep. Watch out for these creeps!

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

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