Complaint / review text:
I discovered that $25,000 was transferred from my checking account to my Scottrade account without my approval. I contacted Scottrade and was informed that I would need to fax in a wire transfer form to get the money returned to my account. Later, I was told that I would need to wait 3 business days before they could return my money. Because my overdraft protection was only good up to $500, my bank said that they would reject the transaction and return the money to my account since I was overdrawn by $4000.
My bank was gracious enough to waive all the fees associated with this transaction. Scottrade, however, sent me a letter blaming me for this incident; saying that I had inadvertently disclosed my account credentials or had a malicious virus or spyware on my computer and wanted me to sign an agreement that would basically blame me for any future security breaches if I did not change my password every month. It turns out that it is totally their fault because last October, someone hacked into their eCheck secure and stole everone's information. I am now requesting that my Scottrade account be terminated. I have also placed a security freeze on my credit at Trans Union, Equifax, and Experian.