Scottrade Poor Business Practices Memphis Tennessee
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.
1 Updates & Rebuttals
Bobcat
Primm Springs,Tennessee,
U.S.A.
Brentwood Office of Scottrade
#2Author of original report
Mon, August 10, 2009
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.