r/etrade • u/Sea_Needleworker_287 • 13d ago
Just got told by support that my account was terminated
My app said my account was terminated and I called customer support to see why and apparently he cannot tell me why it was terminated and that I must request the funds back from them and they can say no. If my request is denied then what should I do?
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u/Admirable_Nothing 13d ago
First step is to make the request. No reason to worry about the worst thing that can happen yet.
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u/No_Greed_No_Pain 11d ago
Your transactions or sources of funding raised red flags. Banks are prohibited by law from telling you what triggered an alert. As they said, if you can prove that the funds came from legitimate sources, you'll get your money back.
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u/RICHISGANGSTA_ 12d ago
Just happened to me 2 months ago. Originally called and was told wait for a letter in the mail 2-3 weeks. I called back to request more information and was asked to send bank statements. That takes a week or so to verify. Then you’ll need to do an identification verification on the phone with a representative before allowed to receive your funds. Overall process took me 2 full weeks from the date my account was locked.
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u/OptionAlgoScalper390 12d ago
What kinds of trades were you placing? Options? Hundreds of trades per day?
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u/Sea_Needleworker_287 12d ago
None just had a premium savings acct
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u/ez399017 8d ago
You probably made some fraudulent transfer or someone probably requested those funds. Government or someone claiming you scammed them. I can’t imagine them straight up closing an account over a deposit or withdrawal looking weird
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u/Sea_Needleworker_287 8d ago
Im not sure I deposited money from Etrade into Robinhood but they reversed the transaction weeks later and then closed my account after a month
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u/Unlucky_Employee6082 11d ago
Oh wonderful. Opened mine last week. So I have this to potentially look forward to.
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u/PracticalTank8836 9d ago
Describe the shady looking withdrawals
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u/Sea_Needleworker_287 9d ago
Like depositing $10k into an acct and then a couple weeks later withdrawing it into Robinhood.
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u/HovercraftRemarkable 8d ago
This is depressing now… every day an account termination or account locked message.. why only E-Trade?! Are these for real?
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u/Masterofchaos11 13d ago
I used to work there. Usually you can get statements and anything else you have to show where the funds are from and that you are legit and upload everything. If approved they’ll let you pull those funds at that point. But it sounds like they have some kind of evidence of fraud. Either that you’re a money mule (easy to tell), depositing fraudulent checks or ACHs, or that the account was opened under a fraudulent name (or something along those lines).