• Report: #314652

Complaint Review: Scottrade Inc.

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  • Submitted: Tue, March 04, 2008
  • Updated: Tue, March 04, 2008

  • Reported By:Richland Washington
Scottrade Inc.
12800 Corporate Hill Drive St. Louis, Missouri U.S.A.

Scottrade Inc. Deliberately Deceived and Lied To by Scottrade Spokane WA re. account security St Louis Missouri

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I've had a Scottrade ("ST") account for several years. Customer service is utterly incompetent to answer questions, so I just plodded along alone.

E.g.
Q "Where is a certain feature on the ST web page?"
A" Its there"

Recently my favorite stock took a buffalo jump, so I decided to get in for some long term holding.

I personally went to the ST branch office in Spokane WA with an Official Check from my Bank. I "personally went" for their security and mine, theirs so they can see who they are doing business with, mine to make sure its actually Scottrade I'm depositing the money with.

The ST Employee with ("RT," whoever that is) which I spoke wrote the account # on the check, despite my clear statements to him that I DID NOT want the # on the check. I stated this before he finished writing it, and three times afterward.

I had put the account number SUFFIX on the check, ****which is a practice ST uses (suffix).****

Keeping confidential info like this off checks prevents the Banks employees and the companies that are HIDING in-between (they are there, and concealed) from getting the account #. If they have it, its a fairly simple job to hack the account.

The Employee spoke with Brian, the ST Spokane Branch Manager who stated out-loud, in my hearing, that "the account number did not have to be on the check. Write it on a sticky note attached to the check"

The Employee returned to his desk where I was sitting, marked out the account number and put a yellow sticky with the number on the face of the check.

I left knowing full well that I couldnt trust them. Why? Because of lie #1:

When asking the Employee why they put the account # on the check, his response was so they made sure to deposit it in the correct account.

That's either a lie, or demonstrates Scottrade is incompetent to handle simple clerical tasks. That check and transaction will certainly show up on some kind of routing or transaction log. Its a FIFTH GRADERS job to make sure its deposited in the correct account.

A few days later, my suspicions were confirmed. My Wonderful Bank (and they are indeed wonderful!) obtained a check image and sure enough, the account # was hand-written on the face of the check.

I called Scottrade Corporate in SLMO (who hide their existance-try finding their phone or address!) and talked with Shannon Mcgarrity in Scottrades Compliance Dept (best I recall). He was right nice to talk with, but I've learned over the years that folks is always nice when they want something.

Shannon politely heard my complaint, and later that day called back. I called him to hear that, yes, someone at Spokane had written the account # on the check.

Shannons explanation was nothing but reasons and excuses. When he finished, I reminded him that his flowery speech (rather well done that it was) was entirely one-sided in favor of Scottrade, and did absolutely nothing to address their Customers security concerns. His basic point that was ST had no experience with problems with account numbers on checks.

Translation- "It hasnt happened to us, so WE DONT CARE. Good luck Customer, well hang your security out the window."

Since Scottrade did ABSOLUTELY NOTHING to make this right, I told Shannon that ST would lose my account.

Losing MONEY is the ONLY thing that makes dishonest Corporations pay attention.

of course, I have written and tape recorded proof of this all..

David
Richland, Washington
U.S.A.

This report was posted on Ripoff Report on 03/04/2008 01:46 PM and is a permanent record located here: http://www.ripoffreport.com/r/Scottrade-Inc/St-Louis-Missouri-63131-1834/Scottrade-Inc-Deliberately-Deceived-and-Lied-To-by-Scottrade-Spokane-WA-re-account-secur-314652. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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