• Report: #5162
Complaint Review:

Mark Stevens E-Trade

  • Submitted: Tue, May 15, 2001
  • Updated: Tue, May 15, 2001

  • Reported By:Tempe Arizona
Mark Stevens E-Trade
Nationwide U.S.A.

E-Trade brokerage theft

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I have previously reported that E-Trade deducted an accountm maintenance fee of $15 from my account without any prior notice. E-Trade not only refused to reimburse me on a one-time-only basis, it has compounded its theft by again, without prior notice, debiting my account by an addtional $50 "termination fee" as of January 31st- the day my account was closed and my E-Trade assets were transferred to another brokerage (as per my request).

Mark Stevens of E-Trade told me when I received my January statement today- in which the notice of the $15 account maintenance fee was ironically closed- that its $50 fee termination fee is more than double an earlier termination fee (of $20) neither of which was mentioned in the service agreement between us.

I understand that fees must sometimes be charged and even increased in order for firms to remain competitive, but when a compamy does not give prior notice, this is theft!

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This report was posted on Ripoff Report on 05/15/2001 12:00 AM and is a permanent record located here: http://www.ripoffreport.com/reports/mark-stevens-e-trade/nationwide/e-trade-brokerage-theft-5162. 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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