E*Trade Financial review: E-Trade has blocked access to my account 2

In 2017 I opened a brokerage account with E-Trade. Since that time I have purchased stock in just 3 companies only two of which are in my present portfolio. On September 23, 2023 I contacted E-Trade (now E-Trade/ Morgan Stanley) to add a savings account. As part of that application process, I was required to provide a copy of my Colorado driver’s license (both front and back) and to complete a security questionnaire. A few days later, multiple notices appeared on my E-Trade account pages indicating that access to my accounts had been restricted/limited due to “unusual activity.”

On Monday October 23, I called E-Trade for clarification and spoke with an E-Trade customer service representative named Brook. When asked, Brook refused to provide her last name or employee identification number. Brook also refused to answer any questions regarding the restrictions on my account and would only respond by stating that, “to proceed any further you must take a selfie while holding your driver’s license and upload it to E-Trade”. This image would be in addition to the driver’s license that I had provided a just few weeks prior. It is I noteworthy that the star in the upper right corner of that license indicates that it is compliant with the Department of Homeland Security’s Real I-D act of 2005. When asked, Book refused to tell me the extent of the restrictions nor the nature of the alleged “unusual activity” and re-stated that she could not proceed any further, nor provide any additional information, until I had uploaded the selfie. During the 12+ minutes that I was on the phone with Brook I was stonewalled at every turn. Brook responded to my questions 14 times with “We need a selfie of you holding your I-D.” Brook eventually conceded that the restrictions prohibit me from buying or selling any of my investments or from closing the account. My account remains blocked and E-Trade will not tell me why. In these times of unpredictable market volatility I am being denied the ability to trade stocks or close out my account.

I believe E-Trade’s claim of “unusual recent activity” on my account to be patently false. The last transaction on my account was a stock purchase almost 2 years ago (2/22/22). Freezing my accounts and holding them hostage unless I send a selfie is tantamount to adding new terms and conditions to the agreement that I signed when I first opened my E-Trade account. I am a 72 year old senior citizen and I have neither a smart phone nor a working camera needed to accommodate this unusual request (selfie). The actions I am being required to perform, to have access to an account I have had for over 6 years, represents an undue and unreasonable burden. At this juncture I wish only to liquidate my holdings, close my account with E-Trade, and transfer all of my funds to my Wells Fargo accounts.