Originally Posted by
compddd
Received a correspondence from Morgan Stanley this morning that they can no longer service my platinum cash plus account and that I can open an E-Trade self service brokerage account if I want to. (I had closed my access investing account 2 years ago and just ate the $55 fee per month since I still came out ahead holding the MS Plat). I guess they finally caught on? I don't think you're technically allowed to have just the platinum cash plus account?
Originally Posted by
VVasabi
I received the same communication this morning, however I still have my access investing account. Anyone know if there's any way for me to call and keep the Cashplus account open? I have not been meeting the monthly fee waiver requirement, and I don't mind paying the $55 a month just to keep the account open.
This morning, I also received a similar correspondence, prompted by an email with the subject "Correspondence is Now Available," containing the following:
"General correspondence is now available on Morgan Stanley Online for your accounts:
XXX-XXXXXX Required Client Letter
To view your documents, go to the Documents page on Morgan Stanley Online."
Upon logging in, the letter I received informed me that "we can no longer continue to service your account" and provided some alternatives, including the option to open an E-Trade account.
I almost overlooked this email, as it looked like a generic notification one, but thanks to the replies here, I took a closer look.
The strange thing is, I currently have a qualifying investing account linked (a MS Access Direct account), but I have not been meeting the cash avoidance requirement and have been paying the $55/month fee. Perhaps this is the actual reason they are discontinuing our Platinum CashPlus accounts, or maybe they're just trying to get people away from these accounts so they can reallocate resources to other account types (e.g., E-trade).
Does anyone have insight into whether simply having a MS Access Direct (MSAD) account is sufficient to retain the MS Platinum card?