I opened a checking account with E*TRADE from Morgan Stanley on 2/6/2025. I received a wire that they validated and yet I am getting the run around in obtaining the $1800 that is showing as deposited into my checking account now over two weeks that they are now calling it a brokage account that I didn't even open. They are holding the $1800 now for 60 days according to the notification on my account. Every time I call the Contact Center to escalate the issue, they connect me either to someone on the Documents team or another team that have repeatedly asked me for my IDs, a written letter, a 3-way verification, asking me who is the issuing bank, and then lie about the proof I sent was fuzzy etc etc. They know exactly who I am, I worked for them last year and I used the same exact IDs. I am sick of them! When I requested for my checking account to be closed they told me it couldn't be closed, that it's not that easy. The notification on my account is Account Restricted for Your Protection. I wonder what protection is that as I am told the wire is valid 🤔? They are now saying they need the back of my social security card and yet have my account funds restricted for 60 days.
Desired outcome: $1800 released and account closed.
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They are probably withholding money to play with your funds. Skip straight to the Consumer Financial Protection Bureau (CFPB) along with your state’s banking supervisor. If nothing changes, take it to the SEC and FINRA because they state it’s a brokerage account. Also, get in touch with your bank’s fraud division and force them to help in the matter of releasing your funds. Don’t let them waste your time.