Comments on: e*Trade Is Starting to Worry Me http://wealthfly.com/blog/2007/11/15/etrade-is-starting-to-worry-me/ A blog for investment advisors, brokers and financial planners. Tue, 06 Jan 2009 11:01:13 +0000 http://wordpress.org/?v=2.3.3 By: WealthFly » e*Trade Dodges Bankruptcy http://wealthfly.com/blog/2007/11/15/etrade-is-starting-to-worry-me/#comment-529 WealthFly » e*Trade Dodges Bankruptcy Wed, 05 Dec 2007 15:45:01 +0000 http://wealthfly.com/blog/2007/11/15/etrade-is-starting-to-worry-me/#comment-529 [...] closed my e*Trade accounts two weeks ago. I wasn’t planning on it but they wouldn’t put a large wire through (or allow me to trade it out of cash). I got fed up and transferred my account to another [...] […] closed my e*Trade accounts two weeks ago. I wasn’t planning on it but they wouldn’t put a large wire through (or allow me to trade it out of cash). I got fed up and transferred my account to another […]

]]> By: Matt Abar http://wealthfly.com/blog/2007/11/15/etrade-is-starting-to-worry-me/#comment-507 Matt Abar Wed, 28 Nov 2007 22:27:15 +0000 http://wealthfly.com/blog/2007/11/15/etrade-is-starting-to-worry-me/#comment-507 My ACATS transfer completed this morning and my e*Trade account is now closed. Since the market has been down, I didn't miss out from having a large amount sitting in cash for two weeks. During the entire two weeks, their person in their security department responsible for my case did not call me back. My ACATS transfer completed this morning and my e*Trade account is now closed. Since the market has been down, I didn’t miss out from having a large amount sitting in cash for two weeks. During the entire two weeks, their person in their security department responsible for my case did not call me back.

]]> By: John Doe http://wealthfly.com/blog/2007/11/15/etrade-is-starting-to-worry-me/#comment-460 John Doe Fri, 16 Nov 2007 06:37:31 +0000 http://wealthfly.com/blog/2007/11/15/etrade-is-starting-to-worry-me/#comment-460 You need to get a lawyer immediately. DO NOT WAIT! Unfortunately, you have no other options right now other than legal ones since you have been locked out of your account. Let me tell you my own story. (My email address is fictitious since I don't want Etrade to know I posted here). I had an account at Etrade with a high six figure balance that I used for margin trading. Etrade was also easy to use to buy preferred stocks, corporate bonds, and some mutual funds. I was warned this past summer by a friend that they did not like the looks of things at Etrade and suggested I either move my money or set up escape plans. In the following week I looked into money flow avenues and decided to link some checking accounts with my Etrade account and moved money back and forth to practice. No problems. After the news on Fri, I knew I was leaving. First thing Mon morning I sold everything and attempted to move $100,000 to each of my checking accounts. Those orders were rejected because it was a bank holiday. I rescheduled both orders for Tues. On Tues both were rejected because I was not allowed to move more than $100,000 per day (the rule HAD been just last week that it was $100,000 per day per bank). I rescheduled one order to move money and that went thru. I tried to schedule another order yesterday and the computer told me that I could not schedule another order since I was limited to one $100,000 transfer at a time and my other order was listed as "in process" even tho the money was already in and available from my checking account at my local bank. Take careful note that I never called Etrade. My account as of now may have been flagged and I may receive a call tomorrow that they "need to verify my identity" but at least $100,000 is out. You need to get a lawyer NOW and put pressure on Etrade. This comment is not meant to defame or libel Etrade and is meant for entertainment purposes only since it a parody and/or satire. This post is also not meant to encourage others to remove their money from Etrade or in any way harm Etrade's business. Reading this post implies your consent that you will not take it seriously in any way nor hold me responsible for any behavior that negatively affects Etrade's business or reputation. You need to get a lawyer immediately. DO NOT WAIT!

Unfortunately, you have no other options right now other than legal ones
since you have been locked out of your account.

Let me tell you my own story. (My email address is fictitious since I don’t want
Etrade to know I posted here). I had an account at Etrade with a high six figure balance that I used for margin trading. Etrade was also easy to use to buy preferred stocks, corporate bonds, and some mutual funds. I was warned this past summer by a friend that they did not like the looks of things at Etrade and suggested I either move my money or set up escape plans. In the following week I looked into money flow avenues and decided to link some checking accounts with my Etrade account and moved money back and forth to practice. No problems.

After the news on Fri, I knew I was leaving. First thing Mon morning I sold everything and attempted to move $100,000 to each of my checking accounts. Those orders were rejected because it was a bank holiday. I rescheduled both orders for Tues. On Tues both were rejected because I was not allowed to move more than $100,000 per day (the rule HAD been just last week that it was $100,000 per day per bank). I rescheduled one order to move
money and that went thru. I tried to schedule another order yesterday and the computer told me that I could not schedule another order since I was limited to one $100,000 transfer at a time and my other order was listed as “in process” even tho the money was already in and available from my checking account at my local bank.

Take careful note that I never called Etrade. My account as of now may have been flagged and I may receive a call tomorrow that they “need to verify my identity” but at least $100,000 is out.

You need to get a lawyer NOW and put pressure on Etrade.

This comment is not meant to defame or libel Etrade and is meant for entertainment purposes only since it a parody and/or satire. This post is
also not meant to encourage others to remove their money from Etrade
or in any way harm Etrade’s business. Reading this post implies your
consent that you will not take it seriously in any way nor hold me
responsible for any behavior that negatively affects Etrade’s business
or reputation.

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