Fast, Good Selection of Services - If You Can Get an Account Opened that is.
Written: Dec 13 '03 (Updated Dec 14 '03)
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Pros: Fast, easy to navigate website. Good variety of banking services offered, convenient ATM Locations.
Cons: Draconian new account policies. Customer Service? What's that?
The Bottom Line: If you can get an account opened - they seem pretty good. Except getting an account opened seems to be a challenge in itself.
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| akuhn's Full Review: E*Trade Bank |
It's the modern age. And I'm a young guy who's open to the idea of internet banking. So when I went looking for online banks offering the largest variety of services, with convenience I found E-trade. I read all the literature on their website, located a lot of very conveniently located ATM's near me, and decided to signup for a money market account.
So how's that money market account working out you ask? I don't know - they never opened it.
Here's what happened:
I submitted my request to open the account on E-Trade's website. This itself was a very easy process, and they have a very nice site.
In the next week or two, envelopes from E-Trade start showing up. New account information, a signature card to return, some checks, an ATM Card. I receive at least four envelopes on seperate days. And then the last letter arrives:
"Dear Sir,
Your request to transfer funds to your account has failed because of the following reason:
[laundry list of reasons]
....
x Incorrect Account Number
....
This account has been closed. Please destroy any checks or ATM Cards in your possession"
What the ...
Ok - so somewhere a mistake was made with my bank's account number. Maybe I typed it in wrong. Maybe it is keyed in at some point by an employee and they made a typo. I don't know who's to blame. It doesn't really matter.
I decide to phone up customer service and explain the situation. I request a new transfer issued from my bank. No can do - they really DID close my account. Of course, how can you close my account if I never really opened it? So I request to have the information they have on file for me resubmitted. No can do. What's that? I have to start all over again?
Yeah. Right.
Thus ends my E-Trade experience. Instead of working with me as a new consumer who was going to deposit thousands of dollars in their bank, my account was closed (then again.. it was never really opened...) because of a typo. My requests to have it reopened with the information on file denied. I would have to resubmit this all over again and wait for another 5 envelopes.
I don't think so E-Trade. There are plenty of other banks out there.
Recommended:
No
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Epinions.com ID:
akuhn
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Location: Hatboro, PA
Reviews written: 20
Trusted by: 9 members
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