I have a business checking account at E*Trade Bank and have encountered more problems in one year than I have with my local national bank in 40 years.
Here's the most recent deal-killer problem. E*Trade stopped payment on the check I authorized from my E*Trade checking account to pay my second quarter estimated taxes to the IRS. The stop payment was done without notifiyng me and without my authorization. ETrade will not pay the penalty I now owe IRS. E*Trade maintains the payment was stopped because the check was not deposited in a "timely manner." The check was 2 months old when the IRS deposited it. The problem is ETrade never credited me back the money until the IRS deposited the check. Also, a second check drawn at the same time has not had a stop payment placed on it. It hasn't been deposited yet.
This is just the most recent problem. I'm closing my account.
Bank with E*Trade if you like sloppy bankers who lie for their advantage. I think the cute little kid in their commercials is organizing their operations. If you like fast and loose Bankers who routinely cut corners, ETRADE is for you.
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