Merrill Lynch complaints 59
Merrill Lynch - customer service
Mother died in 2018. tried to get her account closed. i have been trying for the last 2 years to close it. I have spoken to 3 different agents and provided all necessary information several times with each new person. Each new agent told me i needed more paperwork which was supplied. The last time i spoke to an agent i was told the paperwork submitted so i had to supply new paperwork. (ridiculous). I did so in January this year and when i emailed the paperwork i asked to be notified if there was anything additional needed. I did not hear back.
As of this date i have not received the check. (half of the proceeds are going to my brother (who i was told had submitted all the correct paperwork) and half to me. I emailed the last two days and he never got back to me.
This morning I called the last agent and i was on hold for 40 min. I then called another general customer service number and waited another 30 min. Did everybody quit,? because noone answwers the phone, or offers a callback. I am livid that what should have been an easy transaction has turned into an unbelievable fiasco. I am sure the value has gone down and will continue to due to the lack of attention to this matter. By the way, i tried to login and afyer the second wrong login my account was frozen. Another phone call was made to unlock and once again i was put on hold for another 10 min.
Desired outcome: I want this matter looked into immediately and resolved immediately. I can supply names and account information via email or phone call.
hi , im being harrased by an employee of merrill lynches through an alternate company owned by members of the colombo crime family and financial advisor martine pate of palm beach merrill lynch. i have been harrased and had been financiall sabotaged by these peopl eand am in the middle of a civil court proceeding with these people. on top of the ongoing...Read full review of Merrill Lynch
Merrill Lynch - Online issues when moving outside US
I finished my job in New York in 2018 and returned to Scotland.
My account for my 401k worked perfectly for a time and then I was locked out and system wouldn't let me reset password. So I called the Helpline and got my access reinstated but the phone call cost me more than $50. Now I have same issues again. User ID can't be reset as they send link to the original email address used when registering - of course its the work email I no longer have access to! It now doesn't even recognise my SSN and I'm locked out. How can an organisation be allowed to operate with NO email box for clients outside the US and also NO physical contact address so I can write a letter? Its disgraceful they have my money and I'm locked out!
Desired outcome: I want a process for resetting password that works without calling a phone line.
Merrill Lynch - Cannot close my account easily
My old employer was using ML as an administrator of their stock purchase plan. I left them more than 5 years ago and I transferred all my assets. But my account is still there.. There is no "close this account" menu item in their online portal. I called the phone number and they had a 50 minute wait. They don't list their address to send mail to. An inactive account is just a security hole and I'd like to close this account. They are making it very difficult.
I will try to write to the address shown in this complaint board. Thanks.
Desired outcome: Close my account
Merrill Lynch - 401k Disbursement
I had to move funds from my 401k with Merrill Lynch to a different account. I called the bank I was moving funds to and got the correct information of where Merrill needed to send the check. I then called Merrill, waited on hold for over 40 minutes and got some young man who kept misunderstanding how the check needed to be written out.
By the end of the call, after correcting him repeatedly (and no, I do not have a speech impediment, and English is my native language), I thought he'd finally understood how the check needed to be written out.
Two months later, the check, made out improperly, has been floating around in the mail, been stapled three times, turned down by two financial institutions (at this point) - all because the Merrill Lynch intern (or new CSR) could not for the life of him transcribe what I was telling him.
So two months later, here I am back on hold with Merrill and this time it will be for an hour (per the automated service). I am beyond irritated as this is such a waste of time. I will never, ever do business with this company again, as incompetent as they have proven themselves to be. Like others, I wonder how they stay in business.
Desired outcome: Desired Outcome: They cut hold times from upwards of 40 minutes each time, and they train their CSRs to be at least minimally competent.
Merrill Lynch - Resumption of the co.-wide practice of '3-hole punching' all client monthly paper statements
Please resume the Co. wide Administrative practice of '3-hole punching' of all client requested monthly paper statements, ASAP!
You're creating a mountain of unbindable / unstorageable /untenable paperwork for your Clients. This resumption of this Co. practice would go along way toward bolstering ML Customer Service repoore /relations.
Desired outcome: Resume Administrative practice of 3-hole punching all client paper statements ASAP!!
Merrill Lynch - Impossible to reach customer service - can't chat, email or speak on phone
I am extremely frustrated that I cannot find any way to reach someone at Merryll to resolve my issue. There is literally no place on their website to chat with support, another page directs to an automated IVR with insufficient options, and their regular phone keeps you on hold indefinitely without a call back option.
I have money I want to access and it is literally impossible to resolve this unless someone on their end is available. There is no current automation for this service.
Desired outcome: Have Merryll contact me so I can have my disbursement.
I would NEVER recommend Jane Mendelson from the New York Merrill Lynch location. She was impossible to contact (the only time I heard back from her timely was when I would get an Out of Office auto response); she was incompetent (took over 7 months - and volumes of emails, text messages and phone calls on my part - for an IRA transfer as a beneficiary to be...Read full review of Merrill Lynch
The possibilities to contact Merrill are limited to an overly exhausting hotline. Every 3rd call they kick one out for no reason. For international customers this is beyond ridiculous. Even though you call the international line it offers to call you back if you are from USA or Canada. How does that make sense? The hotline itself is lacking common sense...Read full review of Merrill Lynch
Merrill Lynch - Not releasing my funds
Again like BofA refuse to release my funds. Will not answer phone on hold 3 different days for 15+ minutes.
Made appointment local Merrill officer in BofA Bank, signed off on Affidavit of Domicle form, notarized . A week goes by no communication email etc.
on Vet. Day they send me a blank Affidavit form and ask me to complete, it notariz etc...everything all over again.
I'm a Vet, my Dad who is Vet just passed with funds that are now mine not Merrill's or BofA.
Desired outcome: Call me back so we can get these funds released
Merrill Lynch - 401 K services
I have been trying to get ahold of a representative at Merrill Lynch to find out information about an account that I inherited on several different occassions today being the most recent. After being on hold for at least 10 minutes I get to talk to a human that sends the call over to the 401 K department. At this point the computerized system takes me in circles and finally tells me to call back during business hours. Why didn't the human know that? Why isn't there an email to contact a human? I tried to create an on-line account. I can't because the system doesn't have my phone number.
Desired outcome: Speak to a human being that can either give me access to my account or cash it out.
Merrill Lynch - Unprofessional Conduct
After speaking on the phone with Cheryl Mansfield, at the Boston Merrill Lynch location, I would like to report her unprofessional tone of voice and conduct over emails. We were working together to resolve an issue and I was not treated respectfully. Being a corporate client of this bank, I would not expect this treatment from anyone. Especially an employee of Merrill Lynch.
I always encourage my contacts to allow Bank of America to serve them whether with regular savings/checking accounts or Merrill Lynch investment account for which I am a satisfied customer of both. Now that I encouraged my twins to open their Roth IRA account, one twin's application that was done Sunday 9/26/2021 showed submitted but was still pending, the...Read full review of Merrill Lynch
Merrill Lynch - Inherited Accounts
In February 2021 I contacted my father's Meryll Lynch Adviser in regard to significant Ira and Cash Management accounts that my sister and I are beneficiaries of. It is now almost July and we have been given the run around from our dads Advisor, his associates others who promised to help us cash out the accounts. Our dad never missed a day of work in his life and had a modest income. Over many years he put money into the Meryll Lynch accounts so my sister and I would not have to struggle. This lack of professionalism on the part of Meryll Lynch has caused us a great deal of stress on top of mourning for our father. We now have to get a lawyer involved and spend money we do not have as two single parents to try and get what is rightfully ours.
Desired outcome: Inherited funds
Merrill Lynch - They "cannot" transfer my IRA
My employer set up a SEP IRA account in my name and funded it.
I ordered my Merrill Lynch consultant to transfer my funds to my existing Bank of America (ML parent company) IRA account.
My consultant says that nobody at Merrill Lynch can access the account until it is "activated" by me entering into a contract with Merrill Lynch that is 100+ pages including terms for brokerage accounts, margins, fees, sections in foreign languages, etc. I do not want to enter into such an over-arching contract just to close the account.
The consultant says I cannot get MY funds without agreeing to ALL their terms. The consultant told me that I will have to wait 180 days from when the account was funded when ML will automatically close the account. The consultant says ML cannot close the account any sooner on my order.
Desired outcome: I want access to MY funds, preferably an IRA transfer, and ML to change their policy so customers can withdraw their funds without entering into an all-encompassing contract.
Merrill Lynch - Merrill Lynch funds transfer
Submitted transfer of 27000USD from Merrill Lynch account to different bank and there are already 30 days passed and the amount has not either arrived in the bank nor back in the ML account. Calling daily support teams from ML and the only answer i get is to wait more time. Have already received verbal confirmation from the ML manager that the amount recall was not executed by the ML support team when requested, so it had to be requested again.
Desired outcome: access to the amount asap and compensation for the inconvenience. the money in scope is required to pay off debt with interest. due to the delay i am losing 100 USD / month
Merrill Lynch - Merrill Lynch Retail Investment Accounts
I originally opened a retail investment account with Merrill Lynch at a Bank of America Branch. Because of changes at another financial services company I was going to move an account I had there over to Merrill in order to consolidate my investments.
What a nightmare this has been. First I called an Investment Rep who used to call me so often it became annoying. He told me he no longer did that type of work and referred me to an "associate of his". This guy never called me. I finally had to follow up with the first guy and he eventually prompted the other person to call. I then was told I had to change the titling of my account from a personal to a trust account. The person who handled this paperwork was reasonably competent but the problem was one form needed to be notarized.
What a nightmare that was. I hoped to have the form notarized at a BofA branch staffed by a Merrill representative. This was virtually impossible to do. It's nearly impossible to get through BofA's extremely unfriendly automated phone system. Living people and branches staffed with notaries are non-existent. At the one branch where I was able to talk with a live person I found out that the Merrill rep is not a notary. The Investment Rep; meanwhile was unreachable and appeared disinterested.
Finally I gave up. This investment account had a balance that was not inconsequential. I had also intended on eventually moving a very large 401K account over. Now, given the godawful customer service I experienced with BofA/Merrill I wouldn't dream of doing this.
I decided to leave my other account where it was. The accounts at the other financial services firm are moving to LPL Financial. I'm not sure what level of service I can expect from this firm but it has got to be better than what I've received from Merrill Lynch.
The bar has been set pretty low.
Merrill Lynch - Lack of customer service
I am a compliance officer of a broker-dealer seeking duplicate statements in order to comply with the SEC requirements. You don't answer the phone and put me through an endless set of options that lead to another endless set of options. I actually have an account with you and am so upset that I am considering moving it. Is there someone who actually answers the phone. I even tried opening a new account and you pointed me to your website.
Desired outcome: Someone answer the phone
My account manager, at Merrill Lynch, liquidated one of my accounts that I transferred over to her from another brokerage firm. She liquidated it without my consent and then tells me after the liquidation occurred that it was not her fault. With her fiduciary knowledge she should know and should have known that the fund would not transfer over "In Kind"...Read full review of Merrill Lynch
I submitted a request on 11/16 to receive funds from my 401k. I paid an additional $25 to have the funds sent to me next day delivery. This was set up to ensure the check was properly processed through my bank and had enough time to clear to avoid a late charge. I received two different reps that provided different responses regarding my request to try and...Read full review of Merrill Lynch
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