Scottrade Bank Bank Account Or Service Complaint

Scottrade Bank Bank account or service department,

Savings account Account opening, closing, or management Iowa

My - opened up a Scottrade account to do trading and a number of our individual members also had a Scottrade account. Unfortunately, bad service and rude support from Scottrade has convinced us to close our account and transfer our money elsewhere. Let me explain. Scottrade Bank and Scottrade - are very closely connected, once a brokerage account is opened, Scottrade pretty much forces you to open a Scottrade Bank account to withdrawal any money. This process is time consuming and in the face of rude customer support and delays, one is immediately faced with a money withdrawing delay that is easily double of what competitors can do. The delays and lack of understanding by Scottrade management and support caused significant problems and stress, when I voiced my concerns Scottrade acted as though they " did n't care '' and were too busy with " high net worth clients '' and could close my account not have over - in assets. This frustrated me and my investment friends even more.


when we asked them for the original contract they were unwilling to provide it, and this unfortunately, led to our next problem, Scottrade 's failure to deal with disputes. For our records, we required the original account agreement and thus requested the document on numerous occasions but Scottrade failed to provide it, their final response was basically saying, " your account has been closed ... and we consider this matter closed ... if your dispute continues you may file arbitration ''. The thing is, Scottrade will not provide instructions or evidence that an arbitration agreement exists. Putting us in an extremely difficult spot, we have and we reiterate our requests that Scottrade provide us with the original arbitration agreement. Finally, Scottrade was hacked, according to a press release in -, and said it sent out emails to those whose accounts were effected, we got a few of the emails and the phone number Scottrade instructed us to call would not connect, once again, filing a complaint against Scottrade led to no response. I would warn others that if the behavior of Scottrade to not respond to serious customer concerns it is likely better to move your money elsewhere, our club, and - of its individuals have already done so and are better off for it.