E*trade apparently wants out of the CD business. They have implemented a policy of not auto-renewing CDs, and instead issuing a check on maturity.
No problem. They've sent out plenty of emails and letters giving notification.
However, they should probably work on the back end.
I recently received a letter detailing the policy change, with a suggestion to call an 800 to talk about options, including transferring to another etrade account.
Great. I'll just set it up to transfer to another account I have at etrade simple enough.
I call the 800 number, and get a voice response system. Hmm. Just stuff about balances. No options for CD maturity. Maybe another account. Nope nothing there. It seems to be a black hole zone.
They didn't mention any option to speak with a customer service rep, but 0 usually works. Yep. Got through to somebody quickly.
The account was set up to automatically send out a check on maturity. Could they transfer to my other Etrade account?
Uh. No they can't. I have to call back closer to maturity.
Don't you love the system.
Having read this I believed it was very enlightening.
ReplyDeleteI appreciate you taking the time and effort to put this short article together.
I once again find myself spending a lot of time both reading and posting
comments. But so what, it was still worth it!
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