E*TRADE’S STUPID NEW CD RENEWAL POLICY
It seems E*Trade doesn’t want my money or business. I have just gotten a letter from them about my CD that is going to mature within the next couple of weeks. The interesting thing is that the letter outlines their new policy that certificate of deposits will no longer roll over or be renewed automatically. Instead, the money will be distributed by check to me and my account closed (CD account).
Now, I have a stock account with them and I want the money to stay with E*Trade and to go into that account. Usually, money that is not in stocks will sit in a money market account and from that I can buy stocks at any time. I want my money to stay with E*Trade in that money market account so that I can buy stocks with it.
CD and money market interest rates are so low right now that it’s not even worth worrying about how much money I can make through interest. I am getting more interested in buying stocks as that is the only place it seems a person might be able to make money. But in order to buy stocks, I have to have money in the account first right?
So why would they be so stupid to send my money back to me that I want to stay with them? What kind of a company sends money back to people and turns away business? I guess I will take my money that they send back and open up an account with another online stock broker.
E*Trade, you are run by morons and that is probably why your stock has gone from over 250 down to the low teens. Get a clue!
