E*TRADE: Don't Trust Them!!!
 

My reasons to not trusting E*Trade:
1) Misinformation from the so-called Customer Service Reps. http://www.flyertalk.com/forum/mad.gif

2) Failure to honor their own promotion. http://www.flyertalk.com/forum/mad.gif

THAT'S RIGHT, THE FREQUENT FLIER MILES WERE NEVER POSTED!!!

3) Mailing the money they owed me to the wrong address NUMEROUS TIMES (even after they confirmed they had the right address). http://www.flyertalk.com/forum/mad.gif

4) Lack of response to e-mails, phone calls, and letters. http://www.flyertalk.com/forum/mad.gif

and the latest insult to injury,

5) They recently added an unannounced fee. When I called about they told me that "everyone's doing it" and "you'll just have to accept it." http://www.flyertalk.com/forum/mad.gif http://www.flyertalk.com/forum/mad.gif http://www.flyertalk.com/forum/mad.gif

Well, I guess I can still get in the last word. I'm closing my account (I don't do business with people and companies I can't trust).

If by my warning it saves someone else the hassles I've been put through over the last year it will be worth it.

AVOID E*TRADE (and save yourself a lot of trouble).

My sister and my father also opened accounts with them and have experienced nothing but frustration with their constant screw-ups and failure to honor their promotions.

Thanks.

I know you will find some people who have had decent service from them, but from a year of hellish interaction with them I've come to the conclusion (my own personal opinion) that they are not to be trusted.

I posted this message in the hope that it might spare others the abuse I suffered at the hands of these jerks.

i got my 10,000 DL miles within 2 weeks of them getting my $$$. In 2 months itll go to DLJ direct,in conjunction with CO. Not bad decent % and miles to boot,makes for a very happy camper.

I don't find that promotion on their web site now. Is it still available, or was it a before-the-meltdown thing?



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Middle Seat

Dont know which promo youre reffering to.I went from10,000 miles on AA with TD Waaterhouse to the ETrade and DL.When thats up I had hoped to go to CO if not than to who ever has one.
For CO go to CSFBdirect.com,on the left side should a place to click for special promos,then click on the CO logo. Spoke to them yesterday they said its $5000 for 10,000 miles yet the site says $10,000 for 10,000 miles. The guy said NEW promo starting 4/23 till 6/1 $5000 for 15,000 miles,sounded good but now if it is at all it'll probably be $10,000 for 15,000 miles. I'll wait till next week to find out.
go to csfbdirect.com/earnmoremiles 5k=15,000 miles new customers
[This message has been edited by craz (edited 04-19-2001).]

[This message has been edited by craz (edited 04-19-2001).]

I'd have to say that Ameritrade's deal is a lot better...2,500 United miles for $500

Sure beats 10,000 miles for $10,000...

I have had horrible experiences with E*Trade, and having worked in the online trading industry, I know the "tricks" of the trade. They try to get away with some things that are really not kosher.

I fired E*Trade today. Unannounced fee + not honoring a free trade promotion was enough to push me over the edge. Don't trust them, they don't care about anything but nickeling and diming people. "Won't budge? Fine, cut my check, close my account, you're fired." I would have been depositing more money today and making several trades next week, too. Talk about pennywise(?) and pound foolish.

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"Sire, it is not a revolt. It is a Revolution!"

Thank you all for posting what occurred in your respective experiences.

As a result, & regardless of the promo, I will steer clear of E*TRADE.

There are some things simply not worth going through in the name of miles, & enduring unending frustration is one of them.

I have multiple accounts with E*Trade and received the bonus miles/points for all of them. I had to bug them to get the 50K Marriott points in time before the 713 award changes by Marriott, and the points have posted. For me, the Marriott bonus was the best (50K Marriott points for me was equivalent to 30K airline miles plus a quarter of the 7 night hotel cert).

The latest issue of Smart Money magazine has a pretty good review of stockbrokers both on and off line. E*Trade didn't do very well - surprise. Smart Money hasn't updated their web site yet (a/o 7/12/01), but you can find it on the newstands. (Charles Schwab was first for on-line, ML was first for off-line)

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Who is John Galt?
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I've had my own troubles with E*TRADE, but, sorry guys, that $15 fee was by no means unannounced. I received multiple notices of it during the past several months. I don't know for certain, but I tend to think that the SEC regulates these sorts of things and that brokerages are required to disclose any fee changes. If they didn't do that for you, I suggest you contact the SEC.

I too closed my account after they ripped me off for United miles due for transferring funds to my account. I don't do business with companies that have practices bordering on fraud.

I closed my etrade accounts some time ago, but I am curious what is the fee everyone is talking about here?

They are now charging $15/quarter for brokerage accounts under $5000. IRAs are exempt and if the total value of all your linked accounts (including IRAs, banking, etc.) is greater than $20000, you are also exempt.

I think they should have waived it for the first time it was charged. However, they stuck to their guns and now they will get NO $19.95 trades from me instead of the 4+ per quarter I'll be making with Ameritrade instead. I'm also going to be 2500 UA miles richer on top of that. Pennywise and pound foolish, E*Trade.

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"Sire, it is not a revolt. It is a Revolution!"

I am not a big fan of getting miles outta these online investment insititution. Actually, I don't trust any of them. I had an account with Waterhouse long ago, and they screwed up on so many things it is not even funny.

Sometimes, even these thousands of miles don't seem to be worth the ordeal...



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Al

I had the same problem. Took 9 months to finally get my 5000 miles. They never said they were sorry. Stay away from Etrade.

So then is everyone pretty happy with Amertrade, points and customer service? Or is that a different thread? I have two accounts that earn no miles but no frustrations either. Thinking about miles all the time though...

FWIW, I've had an Ameritrade account for the past year and have great experience both with customer service and general usability of their product. Unfortunately, I signed up "pre" United miles bonus days... think I can still get it?

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"What do you mean you didn't get miles for that?!"

I am very, very happy that I fired E*Trade and hired Ameritrade.

My 2500 MileagePlus miles have posted (took them less than 14 days!) and my investments are up (well, Ameritrade isn't responsible for the latter but I'm still happy).

E*Trade elected to nickel and dime me to death and now Ameritrade is in charge of my funds and doing a much better job of customer satisfaction. If you must choose between the two, Ameritrade wins my vote, hands down!

Etrade is without a doubt the worst company
I have ever dealt with in regards to promos.

When you say you can't trust them, you better
believe that. Last week they took back
5000 United miles they had posted to my
account.

The miles had posted 5 months ago !!

They said the custodial account I had with
my son did not qualify since my ex-wife had
one with him 1 1/2 years ago.

Of course they waited 5 months and 6 trades
later to take the miles back.

When talking to the rep. on the phone I asked
him if they wanted to loose me as a customer
and if he saw how much I traded. He spouted
out the exact commissions I have paid so far
this year - almost $7000.00 in commissions.
He said sorry but rules are rules.

I think he is a displaced Delta employee.

Needless to say I will be moving my personal
account to another broker.

Sincerly

short 5000 miles