Review and analysis of 160 consumer complaints against Scottrade Bank
Out of the 160 consumer complaints against Scottrade Bank Bank Account Or Service, 78% were disputed by the consumer (i.e. the consumer was not happy with how Scottrade Bank responded to their complaint) and 100% were processed in a timely manner. 1% of consumer complaints against Scottrade Bank resulted in the consumer receiving monetary compensation (e.g. money, cash reimbursement, etc.) and 1% resulted in non-monetary compensation.
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| Issue | Complaints |
|---|---|
| Account opening, closing, or management | 94 |
| Deposits and withdrawals | 43 |
| Using a debit or ATM card | 11 |
| Making/receiving payments, sending money | 8 |
| Problems caused by my funds being low | 4 |
Scottrade Bank deposits and withdrawals May 31, 2016 - On - - made ach tranfer of $10000.00 +from a - - savings account to Scottrade bank account. Transfer was done immediately but Scottrade put a 4 business day hold on the funds. Most banks only have a hold for - 2 days. A 4 day hold on funds is allowed by the Fed Reserve but is very unfair to customers who have been with a bank for several years. They get to use that money but customer does not have any access during that time. No one at the bank would even consider reducing the hold time so that I could have access sooner. That to me is not a very good business practice for any... |
Scottrade Bank account opening, closing, or management January 24, 2016 - Scottrade does not properly protect confidential information. Specifically, and according to Scottrade 's CIO, in - and -, Scottrade experienced a data breach which effected roughly - - customers. This is a huge problem in its self, however, Scottrade 's handling of the situation is even worse. Scottrade released a press release that seriously construed the facts and made it look like only Scottrade Brokerage customers were victim of the attack. However, this can not be true. According to this link, http : -, as well as Scottrade 's own documents, Scottrade Brokerage only has ... |
Scottrade Bank account opening, closing, or management January 24, 2016 - Scottrade froze my account without warning and will not allow me to talk to them. The story behind this is quite simple, after I complained about unauthorized access to my account Scottrade became hostile and would not process my requests for an internal review. Instead, Scottrade hired a law firm that threatened to sue me for " defamation '' in the event that I continuing complaining about my account problems. In return I asked Scottrade for my account contract and they refused to answer my questions and instead sent me a blank form stating that I have been harassing them. It seams that i... |
Scottrade Bank account opening, closing, or management January 23, 2016 - Scottrade, a very discount broker ( think - " you get what you pay for '' ) allowed my account to be hacked while I was traveling abroad, likely as a result of the data breach that occurred at Scottrade years ago. In short, Scottrade refused to act professionally to resolve the situation and avoided my calls, letters, and email on numerous occasions, essentially burying the matter. This caused me to write to the CFPB, requesting that Scottrade provide me with a link to their dispute resolution procedures. Scottrade refused to provide me with instructions on how to file a formal complaint. ... |
Scottrade Bank account opening, closing, or management January 11, 2016 - I am writing to inform the CFPB - and consumers around the world that : 1. ) Scottrade Financial Services was warned, on multiple occasions, from employees and outsiders, that their database and securities systems lacked the most basic protections - Scottrade Financial Services ignored these tips and as a result over - customers has their most sensative personal information exposed in a very preventable cyber attack. For anybody who was a victim of this breach, a cybersecurity researcher, or a consumer policy advocate, you may obtain detailed documents of the multiple warnings I, and othe... |
Scottrade Bank account opening, closing, or management January 7, 2016 - Scottrade a very 'discount ' ( emphasis added - you get what you pay for ) brokerage house and data sieve has provided me with some of my worst banking and employment stories. For starters, in -, -, and -, Scottrade was victim of numerous repeated cyberattacks. The cyberattacks, which compromised Social Security numbers, security questions, bank details, and personal information was disclosed by Scottrade two years after it was internally reported as a problem. In fact, Scottrade only acknowledge the hack because the FBI make the hack public and Scottrade did not want to be seen as ... |
Scottrade Bank deposits and withdrawals January 7, 2016 - Scottrade had a database leak that effected nearly - - customers. Exposing their personal information online and allowing fraudsters to login to their online bank account stealing the money as well as selling the personal information to facilitate fraud. I was - of the victims of Scottrade 's failed security and I am writing this complaint to express my concerns that Scottrade is not doing enough to assist customers who have been effected by the breach and Scottrade is also downplaying the amount of information that was exposed. Specifically, the following problems have occurred : 1... |
Scottrade Bank account opening, closing, or management January 7, 2016 - In -, Scottrade admitted that almost - - customers has their personal information exposed to hackers in - and -. I was - of the victims who had their personal information exposed and let me tell you, despite what Scottrade says about the breach only including " address information '' the breach exposed at least the following : 1. ) my password, which was poorly encrypted. 2. ) my SSN, which was stored in plain text. 3. ) my bank up questions. 4. ) et al. The information accessed lead to a particularly bad instance of fraud which is still being investigated by policy today... |
Scottrade Bank deposits and withdrawals January 7, 2016 - Scottrade Bank was hacked, yet Scottrade Bank staff refuse to acknowledge that the - of customer credentials exposed effected both Scottrade - and Scottrade Bank accounts. I have written to Scottrade Bank, Scottrade -, and Scottrade - - on a number of occasions and they al refuse to respond to my complaint. In turn, after a number of phone calls to management, I received a phone call from the branch manager who said my account had been permanently frozen and will be closed shortly. Allowing my no opportunity to withdrawal the funds and giving me no ability to plan financially.... |
Scottrade Bank account opening, closing, or management January 7, 2016 - Scottrade submitted false information to the IRS and refuses to correct it, that is the short story. More information : During the past years when I previously used my former Scottrade account, I noticed a number of problems with Scottrade 's - submissions that they were reporting to the IRS. The problems included incorrect trade dates, improperly formatted items, and most severely incorrect profit/loss calculations. ( Brief research on this topic shows that Scottrade has a number of complaints about late, false, or incorrect -. ) I contacted Scottrade to have these issued resolved and... |
Scottrade Bank deposits and withdrawals January 7, 2016 - Scottrade has the worst customer service. If anything goes wrong in your account, expect your account to be closed as Scottrade will not give you - seconds of their time to resolve the issue, especially if they are at fault. In my case, my Scottrade account was hacked and when I reported the fraud to Scottrade they said that I was no longer a customer. During that time that I was suffering and needed help from Scottrade I was throw out and refused service. After reading other comments on the CFPB 's complaint portal, this appears to be common practice for Scottrade, so I guess it might ... |
Scottrade Bank account opening, closing, or management January 7, 2016 - -/-/2015. Website is down this morning. Tried to call customer service about this, but no one answers due to inordinately high call volume. Missed out in trading opportunities. Ca n't imagine what a predicament I would be in if I wanted to exit/enter a position. I have found Scottrade 's service to be erratic over the past couple years. ... |
Scottrade Bank account opening, closing, or management January 7, 2016 - Have an account with Scottrade for years. Suddenly after all the fees, they keep on processing trades then tell me I am longer able to be part of the Scottrade family. The problem they said I was bumping prices. I have had a small account, ca n't really raise the stock price, but on their end they have ask and bid prices which are - lot of time. I see them completing trades below the ask prices, what a bunch of crooks. ... |
Scottrade Bank account opening, closing, or management January 7, 2016 - Scottrade Bank promised that by opening a Scottrade Bank account I would be able to increase the speed of my transfers to and from my - Account. After opening a Scottrade Bank account, I got a call from Scottrade 's National Service Center saying my account was going to be closed for " business reasons ''. I was furious and called the branch manager who said there was nothing he could do. The worst part is - - and Scottrade Bank did not allow me to transfer my funds out myself and instead put me in the backseat while their back office took over 6 weeks to print a check and send it... |
Scottrade Bank account opening, closing, or management December 28, 2015 - On at least - previous occasions, I request Scottrade cease and desist communicating with me via email and other methods of communication, citing State Unsolicited Email Law, and Federal Debt Collection Practices, yet Scottrade has failed to acknowledge these email and has sent me another email, in violation of numerous State and Federal statutes. ... |
Scottrade Bank deposits and withdrawals December 28, 2015 - I am writing to express my concern about Scottrade Bank when my online account was hacked while I was overseas. At this time I had both a Scottrade Brokerage and Scottrade Bank account. I reported the fraud to Scottrade and was instructed to provide a police report as well as other materials which I did. I respectfully requested Scottrade cooperate with the law enforcement agency but they refused and stated I must go through an internal appeal at Scottrade. When I inquired on how to submit a formal complaint for internal review, Scottrade stated that " Corporate HQ '' would get back to me. Wel... |
Scottrade Bank problems caused by my funds being low December 28, 2015 - According to a number of recent articles released today, such as - Scottrade Bank as well as Scottrade - was the victim of a financial attack. Scottrade was informed of these problems via complaints filed with the CFPB nearly 2 years ago today. I would like to know why Scottrade ignored the tips and put customers at risk. Furthermore, within the Federal Complaint, it says Scottrade - - is the victim which means the hackings encompassed both Scottrade Bank and Scottrade -. ... |
Scottrade Bank account opening, closing, or management December 28, 2015 - I am writing out of concern for the DOJ investigations in hackings against Scottrade and others. Specifically, I know for a fact, that Scottrade was informed of their cyber security vulnerabilities through numerous Whistleblower tips submitted to the SEC, some of which were forwarded to Scottrade for review. I know this because I 'm the one who found the flaws, including the heart bleed vulnerability, and reported them to the SEC more than two years ago. The failure of the SEC and Scottrade to understand the technical disclosures led to over - customers being breached and I do not tak... |
Scottrade Bank account opening, closing, or management December 28, 2015 - I opened a Scottrade Bank account a while ago. Scottrade Bank closed the account without providing a proper explanation. I have requested an explanation from Scottrade but every time I call them they say they will only speak to customers and since my account is closed I am not a customer. I would warn others of this behavior, if you have any dispute with Scottrade, I would advise that you withdrawal all of your funds before brining it to the attention of Scottrade as it is likely Scottrade will place your money in limbo and not allow you access to it. Now Scottrade wo n't even respond to m... |
Scottrade Bank account opening, closing, or management December 28, 2015 - In 2013, Scottrade Bank illegally offset my Scottrade bank account when conspiring with their affiliates Scottrade Brokerage and as a result violated numerous provisions of California FINANCIAL CODE SECTION 1400-1411. I have requested Scottrade Bank provide me information about how to file an arbitration case against Scottrade Bank and clarification over the arbitration procedures, potential conflicts, and problems, however, Scottrade Bank has not responded. I would like Scottrade Bank to provide me with a copy of the original arbitration contract and full instructions on how to file arbit... |
Scottrade Bank account opening, closing, or management December 28, 2015 - Dear Sir/Madam, I am writing in hopes to resolve a particular dispute with Scottrade Bank and their affiliates collectively referred to as Scottrade. Scottrade maintains that I should file arbitration against them for the purposes of resolving a customer dispute, however, neither Scottrade Bank nor Scottrade Brokerage have confirmed the existence of a valid arbitration agreement and has refused to answer any of my inquiries for details. I am writing this letter to address a very specific issue. Specifically, I would like a copy of the full " consumer contracts '' that were formerly signed ... |
Scottrade Bank account opening, closing, or management December 28, 2015 - Scottrade refuses to remove known-to-be-fraudulent information submitted to my IRS file. I would like Scottrade to remove the fraudulent information submitted to the IRS file. Everything on or after -/-/2013, should be removed. Scottrade is in possession of a police report that supports this request. ... |
Scottrade Bank deposits and withdrawals December 28, 2015 - Dear Sir/Madam, After reviewing this document : - and being a victim of Identity Theft myself, I thought I would take some of the proactive steps to research and resolve the situation. I am writing today to ask Scottrade Bank provide me with access to my account so I can review the alleged debts and balances. Furthermore, I would like Scottrade to confirm what amount if any debt they allege to own. Scottrade previously claimed that I owe them money, but will not let me access to account to see the specific details. ... |
Scottrade Bank account opening, closing, or management December 28, 2015 - Dear -, I am writing to express my concerns about a behavior of Scottrade Bank and their affiliates which may have adversely exposed my personal information and lead to identity theft and fraud. Specifically, in going through my records in order to better understand how I could resolve ongoing identity theft, I discovered that when applying for a bank account at Scottrade Bank, Scottrade Bank improperly handled a number of documents which had very personal information on them. The actions of Scottrade Bank not only broke from the current standards of data security but also broke Scottrade... |
Scottrade Bank account opening, closing, or management December 28, 2015 - On at least - previous occasions, I request Scottrade cease and desist communicating with me via email and other methods of communication, citing State Unsolicited Email Law, and Federal Debt Collection Practices, yet Scottrade has failed to acknowledge these email and has sent me another email, in violation of numerous State and Federal statutes. ... |
Scottrade Bank account opening, closing, or management December 13, 2015 - On at least - previous occasions, I request Scottrade cease and desist communicating with me via email and other methods of communication, citing State Unsolicited Email Law, and Federal Debt Collection Practices, yet Scottrade has failed to acknowledge these email and has sent me another email, in violation of numerous State and Federal statutes. ... |
Scottrade Bank using a debit or atm card December 13, 2015 - Dear Sir/Madam, I am writing to express my concerns about a behavior of Scottrade Bank and their affiliates which may have adversely exposed my personal information and lead to identity theft and fraud. Specifically, in going through my records in order to better understand how I could resolve ongoing identity theft, I discovered that when applying for a bank account at Scottrade Bank, Scottrade Bank improperly handled a number of documents which had very personal information on them. The actions of Scottrade Bank not only broke from the current standards of data security but also broke Scot... |
Scottrade Bank account opening, closing, or management December 13, 2015 - Dear Sir/Madam, After reviewing this document : - and being a victim of Identity Theft myself, I thought I would take some of the proactive steps to research and resolve the situation. I am writing today to ask Scottrade Bank provide me with access to my account so I can review the alleged debts and balances. Furthermore, I would like Scottrade to confirm what amount if any debt they allege to own. Scottrade previously claimed that I owe them money, but will not let me access to account to see the specific details. ... |
Scottrade Bank problems caused by my funds being low December 13, 2015 - Scottrade refuses to remove known-to-be-fraudulent information submitted to my IRS file. I would like Scottrade to remove the fraudulent information submitted to the IRS file. Everything on or after - -, 2013, should be removed. Scottrade is in possession of a police report that supports this request. ... |
Scottrade Bank account opening, closing, or management December 13, 2015 - Dear Sir/Madam, I am writing in hopes to resolve a particular dispute with Scottrade Bank and their affiliates collectively referred to as Scottrade. Scottrade maintains that I should file arbitration against them for the purposes of resolving a customer dispute, however, neither Scottrade Bank nor Scottrade - have confirmed the existence of a valid arbitration agreement and has refused to answer any of my inquiries for details. I am writing this letter to address a very specific issue. Specifically, I would like a copy of the full " consumer contracts '' that were formerly signed in or... |
Scottrade Bank making/receiving payments, sending money December 13, 2015 - In 2013, Scottrade Bank illegally offset my Scottrade bank account when conspiring with their affiliates Scottrade Brokerage and as a result violated numerous provisions of California FINANCIAL CODE SECTION 1400-1411. I have requested Scottrade Bank provide me information about how to file an arbitration case against Scottrade Bank and clarification over the arbitration procedures, potential conflicts, and problems, however, Scottrade Bank has not responded. I would like Scottrade Bank to provide me with a copy of the original arbitration contract and full instructions on how to file arbit... |
Scottrade Bank deposits and withdrawals December 13, 2015 - I opened a Scottrade Bank account a while ago. Scottrade Bank closed the account without providing a proper explanation. I have requested an explanation from Scottrade but every time I call them they say they will only speak to customers and since my account is closed I am not a customer. I would warn others of this behavior, if you have any dispute with Scottrade, I would advise that you withdrawal all of your funds before brining it to the attention of Scottrade as it is likely Scottrade will place your money in limbo and not allow you access to it. Now Scottrade wo n't even respond to m... |
Scottrade Bank making/receiving payments, sending money December 11, 2015 - To whom this may concern, Scottrade Financial Services, Scottrade Bank, and Scottrade Brokerage were a victim of an enormous hack during -/-/- and -/-/-. Scottrade Bank, Scottrade Brokerage, and Scottrade Financial Services were warned about these cybersecurity issues at a technical and cultural level yet no action was taken. I would like Scottrade Financial Services, Scottrade Bank, and Scottrade Brokerage to provide me with instructions on how to file a dispute with their companies. Specifically, Scottrade Bank and Scottrade Brokerage have failed to provide clarification on the c... |
Scottrade Bank using a debit or atm card December 11, 2015 - According to a number of recent articles released today, such as ( - ), Scottrade Bank as well as Scottrade Brokerage was the victim of a financial attack. Scottrade was informed of these problems via complaints filed with the CFPB nearly 2 years ago today. I would like to know why Scottrade ignored the tips and put customers at risk. Furthermore, within the Federal Complaint, it says Scottrade Financial Services is the victim which means the hackings encompassed both Scottrade Bank and Scottrade Brokerage. ... |
Scottrade Bank account opening, closing, or management December 11, 2015 - I am writing to express my concern about Scottrade Bank when my online account was hacked while I was overseas. At this time I had both a Scottrade Brokerage and Scottrade Bank account. I reported the fraud to Scottrade and was instructed to provide a police report as well as other materials which I did. I respectfully requested Scottrade cooperate with the law enforcement agency but they refused and stated I must go through an internal appeal at Scottrade. When I inquired on how to submit a formal complaint for internal review, Scottrade stated that " Corporate HQ '' would get back to me. Wel... |
Scottrade Bank account opening, closing, or management December 10, 2015 - According to a number of recent articles released today, such as ( - ), Scottrade Bank as well as Scottrade - was the victim of a financial attack. Scottrade was informed of these problems via complaints filed with the CFPB nearly 2 years ago today. I would like to know why Scottrade ignored the tips and put customers at risk. Furthermore, within the Federal Complaint, it says Scottrade - - is the victim which means the hackings encompassed both Scottrade Bank and Scottrade -. ... |
Scottrade Bank deposits and withdrawals December 10, 2015 - I am writing in regards to the hacking that occurred at Scottrade - -, Scottrade, - and Scottrade Bank. Specifically, I seek clarification on whether my passwords were encrypted or hashed. Scottrade 's press release here : -, states that the passwords were encrypted and NOT hashed. If Scottrade did not hash passwords, I would like to know why, and I would like to know if the encrypted key has been or could have been targeted in the hack. ... |
Scottrade Bank account opening, closing, or management December 10, 2015 - I submitted a complaint against Scottrade Bank, regarding a dispute about unauthorized transfers within my Scottrade Bank and - - Account. Scottrade Bank did not respond to my complaint after three weeks. I then sent a certified letter to Scottrade Bank asking about their dispute resolution procedures and have still not received a response months later. I submitted a final complaint asking about if there was an arbitration contract and how I could initiate a - party dispute resolution process. Scottrade Bank did not respond. I am writing to the CFPB, in hopes that a cooperative reso... |
Scottrade Bank account opening, closing, or management December 10, 2015 - There is an ongoing dispute between myself and Scottrade Bank that has caused me to loose access to my funds and suffer hardship as a result of Scottrade Bank 's delays on letting me access my account. Specifically, I submitted a complaint against Scottrade Bank and the OCC for what I would consider to be illicit actions by a Scottrade Bank employee, regarding the handling of customer information and critical financial information. Days after sending the complaint, Scottrade Bank locked my account, but failed to inform me of this action. Weeks later, when attempting to access my account, I n... |
Scottrade Bank using a debit or atm card December 3, 2015 - helloI need your help.. I had checking account with Scottrade bank. On - 2014, i saw some usual transaction from my account so i called in and filed dispute on those transaction, it was around $1000.00. then later on bank send me a letter saying they denied dispute and they took the money from my account. and i found out my sister used it, i gave her card number in case of emergency. so i did n't bother to call bank again and totally forgot about it. till last week, i was checking my credit score since i am applying job, I found i have - collection against me. so i called in and found... |
Scottrade Bank account opening, closing, or management November 17, 2015 - There is an ongoing dispute between myself and Scottrade Bank that has caused me to loose access to my funds and suffer hardship as a result of Scottrade Bank 's delays on letting me access my account. Specifically, I submitted a complaint against Scottrade Bank and the OCC for what I would consider to be illicit actions by a Scottrade Bank employee, regarding the handling of customer information and critical financial information. Days after sending the complaint, Scottrade Bank locked my account, but failed to inform me of this action. Weeks later, when attempting to access my account, I n... |
Scottrade Bank account opening, closing, or management November 17, 2015 - I submitted a complaint against Scottrade Bank, regarding a dispute about unauthorized transfers within my Scottrade Bank and Scottrade Brokerage Account. Scottrade Bank did not respond to my complaint after three weeks. I then sent a certified letter to Scottrade Bank asking about their dispute resolution procedures and have still not received a response months later. I submitted a final complaint asking about if there was an arbitration contract and how I could initiate a - party dispute resolution process. Scottrade Bank did not respond. I am writing to the CFPB, in hopes that a cooper... |
Scottrade Bank deposits and withdrawals November 14, 2015 - I am writing in regards to the hacking that occurred at - Scottrade Bank. Specifically, I seek clarification on whether my passwords were encrypted or hashed. Scottrade 's press release here : -, states that the passwords were encrypted and NOT hashed. If Scottrade did not hash passwords, I would like to know why, and I would like to know if the encrypted key has been or could have been targeted in the hack. ... |
Scottrade Bank deposits and withdrawals November 12, 2015 - I was formerly a Scottrade customer and part time Scottrade intern at the - - campus - and I can not say I am surprised that this happened. Scottrade 's customer support has always been horrendous with managers placing emphasis on an unwritten policy to not deal with any dispute if it requires significant resources. Managers have cut the Scottrade support staff to a minimum and instructed employees that if a customer is not satisfied - " force them to use arbitration ''. The corporate culture is all about profit - not a minute is dedicated towards customer satisfaction. In terms of c... |
Scottrade Bank account opening, closing, or management November 12, 2015 - I would like to know why Scottrade failed to mention that Social Security Numbers and account numbers were stolen in the latest data breach and that the Social Security Numbers were left UN-ENCRYPTED. That data included brokerage account numbers, spokeswoman - - revealed Thursday. " They could have seen Social Security numbers, brokerage account numbers and emails, '' she said. " However, it appears that contact information was the focus of the incident, '' she said. ... |
Scottrade Bank account opening, closing, or management November 12, 2015 - I was a customer of Scottrade. Scottrade was hacked over two years ago and has done absolutely nothing to help. The identity theft insurance provided by Scottrade does n't work ( the phone number and sign up page will not access my information ) and even if it did work it is only for 1 year and is not retroactive. Scottrade was hacked over two years ago and Scottrade thinks it is appropriate to provide 1 year of NON-RETROACTIVE identity theft insurance that leaves a two year gap, where customer are uninsured and have potentially dealt with very serious cases of identity theft. ... |
Scottrade Bank account opening, closing, or management November 11, 2015 - After my complaint to ConsumerAffairs on -/-/2009, I have filed my complaint to SEC on -/-/2009 to get their attention, because what Scottrade did might cause their customer loss like me. After Scottrade rejected my request for their response in writing ( They said that they only give me when SEC inquiry to them ), I faxed my written request to Scottrade branch and ask them to forward to their compliance department for writing their response. I have sold some of my stocks on -/-/2009 and sold all rest stock on -/-/2009. Those fund about $3000.00 from sold stocks on -/-/2009 shoul... |
Scottrade Bank deposits and withdrawals November 11, 2015 - I tried to open an account, but apparently the staff there are the " do n't care '' attitude kings. After nearly 4 weeks, I still ca n't get an account. Do n't expect them to return a call or offer any help. They are rude and -. ... |
Scottrade Bank deposits and withdrawals November 11, 2015 - I 've had a number of problems with my Scottrade Bank account from funds taking way to long to transfer to not receiving a debit card or checks for weeks. I brought this up with my branch manager and he said those issues are dealt with via the - -. Well I called the - - and as expected was transferred several times, told to wait a few days for a response, and then nothing. At this point I asked Scottrade Bank to provide me with a copy of the Arbitration Agreement for my account. Scottrade Bank refused and continues to refuse to do this. ... |
Scottrade Bank deposits and withdrawals November 11, 2015 - I filed a few complaints with Scottrade and was told that they would get back to me within a few days. Scottrade did not respond - so I am writing this complaint. I formerly closed my account as Scottrade but was also informed about the data breach discussed here : -I would like to know why Scottrade is not responding to my complaints about the breach and why Scottrade is the only company not to give additional disclosures about the hacking. ... |