• Report: #478086

Complaint Review: Scottrade

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  • Submitted: Mon, August 10, 2009
  • Updated: Mon, August 10, 2009

  • Reported By:Primm Springs Tennessee
Scottrade
www.scottrade.com Memphis, Tennessee U.S.A.

Scottrade Poor Business Practices Memphis Tennessee

*Author of original report: Brentwood Office of Scottrade

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I recently requested a sizable withdrawal from my Scottrade Brokerage Account. I called my local Scottrade office before Noon on Monday and was assured the Check would be "Issued" that afternoon from Memphis(130 miles from my house).

Long story short, I received the Check in the Mail on Saturday. The Postmark on the envelope(from their Pitney Bowes machine) was for that Mon. I have every reason to believe that check, and many others according to the local office manager, were purposely delayed to the direct benefit of Scottrade. I had noticed with past checks a steady increase in the length of time to travel across half a State to my door. But a 3 day delay before entering it into the Postal System is TOO MUCH.

Also, in a separate incident with the same Company, I was denied a confirmed trade, even though, I received E-Mail and Website confirmation of that trade. It didn't cost me any money, but I really question the reliability of their platform.

I just wondered if others have had similar experiences.

Bobcat
Primm Springs, Tennessee
U.S.A.

This report was posted on Ripoff Report on 08/10/2009 10:52 AM and is a permanent record located here: http://www.ripoffreport.com/r/Scottrade/Memphis-Tennessee-37840/Scottrade-Poor-Business-Practices-Memphis-Tennessee-478086. 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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#1 Author of original report

Brentwood Office of Scottrade

AUTHOR: Bobcat - (U.S.A.)

To the credit of the local manager of the Brentwood TN office, it was suggested that I apply for check writing privileges on that account in order to prevent further frustrations.
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