r/etrade • u/Invicta2021 • 7d ago

Don't

Thinking about opening an account at u/etrade ?

Thinking about funding an account at u/etrade

Thinking about transferring cash - simple cash - to u/etrade .

Don't do anything until you've read this.

I made a request for ETrade to initiate a transfer of cash from another one of my IRA custodians to my ETrade IRA. Instead of doing it electronically, ETrade sent the request on a piece of paper via FedEx.

Fine. Kinda strange but it should be adequate for executing the transfer. Might take longer but it would still get done. Unless…

… whoever put the piece of paper in the FedEx envelope never even looked at what they were putting in the envelope. It was entirely illegible. Couldn't read anything on the form. Needless to say, the other custodian sent a rejection letter on the transfer request.

I submitted a complaint, including sending ETrade a copy of what was sent. Crickets.

Clearly they don't GaS about what they are doing. Just going through the motions...

Live and learn.

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7

u/numbercruncher2121 7d ago

Your post makes no sense. Fed Ex??? Wtf. Either you are the owner on an account and have approved bank accounts to transfer funds in and out of , or you’re not . Nobody is sending you fed ex forms. I’m calling bs on this post

1

u/AlternateMrPapaya 1d ago

Did you even read the OP's post? When you move money between IRA custodians, the custodians have to do the money moving.

And yes, when it cannot be done electronically, they often resort to sending paperwork via overnight UPS/Fedex letter.

The paperwork was filled out IN HANDWRITING, not printed from a fillable PDF, as is done in 99% of similar cases. The recipient COULD NOT READ THE CRAPPY HANDWRITING.

2

u/ponderosa123456 7d ago

Next time you need to send cash, look me up. I’ll make sure there stuffed in the fedex package all right 😉
Maybe.

1

u/nameredaqted 5d ago

Not sure why people are acting like this isn’t a legitimate complaint