E*Trade Bank

Report Card
B+
Overall Grade
B
Mortgages Grade
C+
Bank Account Services Grade
E*Trade Bank is rated overall in the top 85 percentile (out of 100) based on 107 customer complaints.

Statistics

Complaints Currently In-Progress
Complaints per $100K of Deposits3.2
Complaints Resolved in a Timely Manner79.4%
Resolutions Disputed by Customer25.2%
Average Time Until ResolutionUnknown

Financial Report

Owner Corporation
EstablishedJanuary, 1933
FDIC InsuredJune, 1955
FDIC Certificate #030746
Number of Branches2
Total Assets$44.5 Million (31st)
Total Deposits$32.9 Million (30th)
Total Equity$6 Million (28th)
Quartarly Net Income$119.1 Thousand (28th)

Contact Information

Corporate Headquarters
671 North Glebe Road, 16th Floor
Arlington, VA 22203
United Statesflag
Website
www.etrade.com
Data Summary
E*Trade Bank logo

Grade Summary

Overall, E*Trade Bank received a grade of "B+" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

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.

Overview

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.

Corporate Headquarters
Complaints by Product
Complaints by State
Complaints Against E*Trade Bank
#Financial ProductSub-ProductComplaint IssueComplaint Count
1Bank account or serviceChecking accountAccount opening, closing, or management17
2MortgageHome equity loan or line of creditLoan servicing, payments, escrow account11
3Bank account or serviceChecking accountDeposits and withdrawals9
4MortgageConventional fixed mortgageLoan modification,collection,foreclosure8
5MortgageHome equity loan or line of creditLoan modification,collection,foreclosure8
6MortgageOther mortgageLoan modification,collection,foreclosure7
7MortgageOther mortgageLoan servicing, payments, escrow account7
8MortgageConventional fixed mortgageLoan servicing, payments, escrow account6
9Bank account or serviceOther bank product/serviceAccount opening, closing, or management4
10Bank account or serviceChecking accountMaking/receiving payments, sending money4
Responses From E*Trade Bank
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation7559 (78.7%)19 (25.3%)
2Closed with non-monetary relief1812 (66.7%)4 (22.2%)
3Closed with monetary relief118 (72.7%)2 (18.2%)
4Closed98 (88.9%)3 (33.3%)
5Closed without relief77 (100%)2 (28.6%)
Complaints over the Past Year