Complaint / review text:
I sent in an ACH deposit for $700 and (because their depositing practices are poor and hard to understand) sent in a second deposit of $700 to my account. Then, I tried to have one of the deposits cancelled. “No can do, ” said the Manager of the Milwaukee Branch Office. I called my bank that would cover the second deposit. My banker couldn't understand why Scottrade wouldn't cancel one of the deposits. The bank gives 2 days to cancel, Ameritrade does, why not Scottrade? The Manager was indifferent and told me to just close the account and leave. I will do that as soon as I can get the cash out and transfer the stocks out. That could take 2 weeks, Scottrade’s option to transfer. Don’t use the online broker. I know the business - I was a "street broker” for 35 years, and this is no way to run a business! I will file complaints to the Wisconsin Department of Securities, Wisconsin Banking Practices for uninforming their clients.