Grades are also broken down by the financial products offered be each institution. E*Trade Bank is rated "B" in Mortgages, and "C+" in Bank Account Services. Click on any of the financial products to see how E*Trade Bank compares.
E*Trade Bank has received 107 consumer complaints since February, 2012 – more than 92% of other banks.
Of those complaints, 79.4% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' E*Trade Bank meets the 60-day response deadline less frequently than 90.7% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 25.2% of customers dispute E*Trade Bank's response to complaints — worse than 80.3% of other companies.
Most of E*Trade Bank's customers complain about bank account or services with the primary issue being "account opening, closing, or management."
E*Trade Bank is primarily a savings institution with a mortgage lending specialization. E*Trade Bank is based in Arlington, Virginia and is the 31st largest FDIC insured bank in America.
Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.
However, even after adjusting for bank size and number of customers, E*Trade Bank receives far more complaints than most other banks. E*Trade Bank recieves more complaints per customer than 97% of other banks – customers are significantly more likely to file complaints than customers of most other banks.
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Bank account or service||Checking account||Account opening, closing, or management||17|
|2||Mortgage||Home equity loan or line of credit||Loan servicing, payments, escrow account||11|
|3||Bank account or service||Checking account||Deposits and withdrawals||9|
|4||Mortgage||Conventional fixed mortgage||Loan modification,collection,foreclosure||8|
|5||Mortgage||Home equity loan or line of credit||Loan modification,collection,foreclosure||8|
|6||Mortgage||Other mortgage||Loan modification,collection,foreclosure||7|
|7||Mortgage||Other mortgage||Loan servicing, payments, escrow account||7|
|8||Mortgage||Conventional fixed mortgage||Loan servicing, payments, escrow account||6|
|9||Bank account or service||Other bank product/service||Account opening, closing, or management||4|
|10||Bank account or service||Checking account||Making/receiving payments, sending money||4|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||75||59 (78.7%)||19 (25.3%)|
|2||Closed with non-monetary relief||18||12 (66.7%)||4 (22.2%)|
|3||Closed with monetary relief||11||8 (72.7%)||2 (18.2%)|
|4||Closed||9||8 (88.9%)||3 (33.3%)|
|5||Closed without relief||7||7 (100%)||2 (28.6%)|