E-Trade: Account Restriction Resolved?

If you have been following any of my posts describing my trouble with an E-Trade account restriction, then you know that I have been patiently waiting for a resolution.

I’ve been out of town for a few days, so I did not have a chance to call them again until today. Since I have the direct number to their security department, I did not have to wait for more than about 30 seconds on hold. Eventually, I got in touch with a very apologetic man who verified that the restriction had not been completely lifted on my account.

After asking me a bunch of identification questions, he lifted the restriction and asked me to initiate a small transfer so that he could verify that it would go through without interruption. Due to the nature of an ACH (Automated Clearing House) transfer, it will not actually complete until a few days from now, but he saw my transfer submission and said it looked “good to go.”

Provided that it works, this should be my last post on this overall painful and ridiculous experience. Once again, the moral of the story here is: do NOT initiate a transfer using E-Trade from a differing IP address than your current residence. In my case, I initiated two transfers from work, and ended up wasting over two weeks of time resolving the resulting issues.

Hopefully my case is unique, but if you ever find yourself in a similar situation with E-Trade, don’t bother with their usual customer service center. Call the security department directly. Here is the number:

E-Trade Security Center: 1-800-293-1621

10 thoughts on “E-Trade: Account Restriction Resolved?

  1. Well i had a similar problem with them. A transfer from another IP. and then i was required to fax identification, but i did it not in the 1-hour time frame. And i had to send them notarized by post. (Well the guy did not tell me that part). Well at all i got my account with some off-time back.
    It could be handled better, but i understand that etrade do this for protection. that is fine. But what is going on now is not fine. Again they restricted my account. But now they do not tell me nothing. And the worst thing is they did this one hour after i got a wire of 50k. That i need that money for my business. I called every day. First they told me allways soon, now they tell me they do not know how long it will take. Two weeks have passed so far. It is not right, because if they would have a problem with the wire(what i do not understand, as i got this wires regulary) why not reject it?

    Now when i log into etrade it say 0.00$. And the etrade CEO has a note that tell the customers that now etrade has more money liquid. nobody should wory. I wonder if they just freeze a big bunch of accounts to get more money liquid?

    if sobdoy had a similar experiance livint dot net at gmail dot com is my email.
    (exchange in the email dot in “.” and at in “@”)

  2. I am having the same difficulty with them. A bank transfer was initiated from them and returned from my other bank. I have sent multiple copies of a notarized statement indicating the cause and verification of my identity. THE WORST PART is they NEVER told me it was restricted until I tried to take money out (cover margin) so I will be battling them to refund my margin interest in my investment account. I have been a customer for nearly 10 years but will not be very soon.

  3. I am getting tired of triing to get the restrictions off my account. I have callled numerous times, only for the phone people to say I couldn’t have access. What to do? Now i can’t even get through on the phone. I thought that was my money. What’s really going on? I think I did everything to get the restrictions off anyway. I want the money to buy a farm and why shouldn’nt i be able to get it if I have it? It’s my money, it’s my money, it’s my money, darn it

  4. Cannot gain access to my account with etrade as Norton security system wont let me in.

  5. I am too really getting fed up with my ETrade account. I had to wire some money from a joint account with my wife to another account in a different bank. When I called up day before to check, they told me no issues there. When I was in a hurry next day, they refused to wire until my send a notarized letter from my wife to them allowing the transfer. The funny thing is they allow me to write a check without my wife’s permission but no wire allowed. They really put in a fix when I was in a real hurry. Another issue I had was with ATM card (believe me it took 3 months) to one ATM card. There are so many such incidences I have with them.

  6. There is foolish company. I’ve received letter from their recently – they denied my application and documents without any explanations((( May because I live in Belarus?

  7. Pingback: E-trade may not survive despite economic condition improved

  8. ETrade froze/restricted my checking account without contacting me. I called them after my check card had been declined, and they refused to give me any details regarding my account and MY MONEY. I have, in the past 36 hours, called 5 times, and have not once received a return call from the “investigator.” This is theft, and because my balance is under $1760, it’s illegal to freeze an account. I am changing banks as soon as I can. I don\’t understand how I am not allowed access to my money. What a sick system.
    Damage Resulting = I am unable to purchase food or clothing due to my account being locked.

    HOW/WHY THE HELL IS THIS LEGAL?!

  9. I’m currently on hold with an ETrade customer rep. I’ve been asked everything under the sun just to get my account unfrozen. This has happened three separate times now and every time I have to call customer service and be put through the ringer. I now have to be called back in 2 hours to answer more questions and then receive something in the mail for which I have to call them back again when I receive it. I would expect a company such as this to be able to provide customers with quicker service. Ridiculous. No wonder I’m switching companies.

  10. Ok so my drama with them. Year 2011, I opened my account two weeks ago. No problems. Gave them my 12,000 check. Hold time 5 days. I had a NSF from a ACH I did. OMG this is to funny. So they restricted my account. Right away I called and told me to answer these 5 questions. Pretty routine these days. Questions went fine. Then they called my bank with me on the line just to make sure my bank account was in good standing. Never had that happen all while I was on the phone. BUT in all I have to say they did it all on the phone with me and the man was nice. Account will be unrestricted in 24 hours. So I will see in 24 hours if it’s un restricted. Very strict!! keep your ducks in a row with E*trade.

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