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jcr's Journal: Rather unimpressed with E-Trade today.

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I've been a customer of theirs for over a decade, and I've had two ATM cards for the same account for many years. Recently, I needed to cancel one of the cards and instead of just replacing that card, they cancelled both of my cards. I just sent the following message to Neal Martin, VP of customer service at E-trade.

Neal,

I got a call from one of your employees this morning, Meagan something, who told me that after looking into it she wasnâ(TM)t able to find a way to issue a second card for my account. Her suggested workaround was that I should open another account, and get an ATM card for that account.

So, because of your IT departmentâ(TM)s refusal to fulfill a very simple request, E-tradeâ(TM)s âoesolutionâ is that I should give you MORE of my business, and incur whatever additional costs are associated with having a second account. Not to mention that using a second account means that if I lose a card while traveling, Iâ(TM)ll either be dead in the water for a day while funds get transferred to that second account, or Iâ(TM)d have to have money parked in that second account already.

Now, Iâ(TM)m a software engineer myself with a fair bit of experience in financial systems. In my Wall Street days, I worked at JP Morgan, Salomon Brothers, and UBS/Warburg. I know that there is indeed a way to solve the problem at hand, even if it requires manually editing a database to make it happen. If my business is important enough to you, youâ(TM)ll direct your IT department to do so.

In the meantime, I suggest your inform all of your employees in customer-facing roles that âoesecurity policy" is not an excuse for incompetence.

-jcr

The message above was a follow-up to this one:

Hello Neal,

I have been an E-Trade customer since 2002 or thereabouts, and I currently have about [redacted] in assets on deposit with e-trade.

Iâ(TM)ve got to say, Iâ(TM)m on the verge of taking my business elsewhere and itâ(TM)s because of something that should be trivial for you to solve.

Iâ(TM)ve had two debit cards for my account for a decade or more, and Iâ(TM)ve just been told that I can only have one now. This doesnâ(TM)t work for me, because I travel quite a bit, and I like to keep one card in the safe in my hotel room, and have the other one on me. If I lose a card while traveling, I do not want to be stranded without a way to access my funds.

Yesterday, I spoke with a representative who told me that he had figured it out and was sending me an additional card, but this morning he called me back and told me that he couldnâ(TM)t do it after all. Just now, I spoke with another representative from your âoeCorporate Relationship Managementâ team, and heâ(TM)s looking into it.

Iâ(TM)ve generally been happy with E-trade up to this point, but if you canâ(TM)t issue me two cards as before, itâ(TM)s a deal breaker. I hope you get this figured out.

Also, donâ(TM)t put your name on an e-mail address that doesnâ(TM)t go to you directly. Itâ(TM)s insulting.

-jcr

The upshot is I did some shopping around and found that Scottrade's fees are lower than E-trade's. The first brokerage company I find that can issue two cards on one account will get my business.

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Rather unimpressed with E-Trade today.

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