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To: Curbstone who wrote (13024)4/3/1999 12:48:00 AM
From: Huckster  Read Replies (3) | Respond to of 27722
 
***OT***

You think that is bad...

I tried to open an account with Schwab back in December. At the time I requested that all my securities would be transferred from my existing Bank One Securities to the new account. The account rep told me that this entire process would take two-three weeks. About a month and half later nothing has happened, so I requested that they cancel the stock transfer and shut down the account since it was taking too damn long to get this to happen. The Schwab rep and the transfer dept. both confirmed that the account has been shut down and the security transfer was ceased.

In late February, I was trying to access my account at Bank One but was locked out. After calling Bank One to find what the hell was going on (I was also having many other problems with Bank One but that is another story.) I found out that my entire account was frozen because my entire account WAS BEING TRANFERRED TO SCHWAB!!!. I asked the Bank One rep what I needed to do to prevent this transfer and he told me to write a letter requesting the cancellation of the transfer and fax it to him right away. Immediately after getting off the phone with him, I typed up a quick letter and faxed it on to him. An hour later, he called me back and told me that everything was OK and the securities would not be transfered. I checked my account the next day and everything looked ok,

On one fine Saturday a week and a half later, I logged on and noticed that all my securities HAVE BEEN TRANSFERRED!!! I was pissed!!! After all I had been through, things still got fucked up!!! Bank One obviously screwed up and I let them know it on Monday morning. They told me that all my securities were in the process of being transfered back to Bank One. I had to go that whole week without doing anything. Thank God the market was flat at the time. Eventually everything came back to my account.

The thing that pisses me off with these guys is that I pay three times in commisions than other on-line traders (E-trade, Datek) and I still get treated like shit!!! I would expect this kind of service out of an E-Trade but not a Bank One. I apoligize for getting so OT here but I need to find a new broker and any suggestions would be greatly appreciated.

Thanks

Huckster



To: Curbstone who wrote (13024)4/3/1999 3:04:00 PM
From: zurdo  Read Replies (1) | Respond to of 27722
 
Curbstone,
I have heard many complaints about E*trade on several other aspects of brokerage functions...I checked them out as thoroughly as I could when I was looking for a brokerage firm to do business with...Although no brokerage firm is perfect I have found DLJDirect to be pretty good...at least I have had good experience with them....