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05-12-2002, 12:42 AM
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#1 |
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Guest
Posts: n/a
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TD Waterhouse Inactivity Fees
TD Waterhouse is charging me $20 a quarter for not trading in this sideways market with uncertain information reported to the SEC by auditors like Arthur Andersen, and it upsets me very much. I have InfoSpace and America Online in my money losing portfolio, and TD Waterhouse is nick and diming me $20 every three months because business is slow or maybe they don't want buy and hold investors?
At any rate, I encourage anyone who currently has an account with them to consider taking their business to Scottrade or, better yet, Vanguard's stock trading service. It is bad enough that Merrill Lynch knowingly encouraged people to buy stocks that analysts confided to on another as being crap, but to have my broker charge me for not trading while await for the other shoe to fall in the industry is revolting. Bye, bye, bye TD Waterhouse ... hustle someone else. |
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05-19-2002, 10:05 PM
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#2 |
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Registered User
Join Date: Apr 2002
Posts: 2
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Thanks for the info. I checked my inactive account and had also been charged $20. I guess I forgot about whatever notification we had been given. I'll be closing my account as soon as possible!
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05-25-2002, 04:25 AM
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#3 |
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Guest
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I left TD Waterhouse also after seeing the $20.00 inactivity fee. I received a call from a customer service representive a few days ago asking why I was leaving. He seemed to be sympathetic, but then gave what is probably the company line " We need to make a profit in during these tough economic times." It seems like they are losing customers because of that fee. Why are so many businesses so short sighted? Maybe that is why they are struggling?
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07-03-2002, 02:05 PM
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#4 |
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Guest
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Merrill Lynch
Incidently, Merrill Lynch was recently named by Barron's for their consistently superior research and advisement. The analyst in question covered approximately 20 companies of the thousands covered and is no longer with the firm. I would advise you to read the numerous Wall Street Journal articles that in fact derided NY Attorney General Spitzer for taking emails out of context and not understanding the role of an analyst.
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07-07-2002, 11:08 AM
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#5 |
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Guest
Posts: n/a
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TD WATERHOUSE INACTIVITY FEES
I HAVE MY IRA ACCOUNTS AND MY STOCK ACCOUNT WITH WATERHOUSE AND ILL AGREE WAS QUITE UPSET WITH THE FEES, ESPECIALLY WITHOUT NOTICE. I SPOKE WITH THE BROKER WHOME I NORMALLY DEAL WITH AND HE TOLD ME OTHER FIRMS ALSO CHARGE THIS FEE, IT WAS SOMETHING NEW TO TD WATERHOUSE. I ALSO FOUND HE COULD EASILY WAIVE THE FEE ON THE ACCOUNT AS THERE IS AN OPTION FROM THE BROKER TO DO SO
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07-18-2002, 02:51 PM
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#6 |
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Guest
Posts: n/a
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Find a better broker
Sounds like TD Waterhouse is making themselves a nasty bed to sleep in, inactivity fees, transfer errors, and downright poor service. I would recommend you all take a look at EdwardJones. They have over 8500 offices around the country and pride themselves on great customer service for the individual investor, regardless of how much money that investor has. No activity fee there, they encourage buy and hold. Their analysts can't own stock in the companies they follow to avoid a conflict of interest. Give them a call and try them out. There is no cost to talk to them.
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02-26-2003, 02:14 PM
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#7 |
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Guest
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TD Waterhouse
I was with TD Waterhouse since 1986. I have always been active investor until 2000. One would think that TD would take care of their old customer, and waive their ill concieve inactivity fee? Dah!! TD now wants you to have minimum $ 25,000 in assets to avoid inactivity fee. Thanks you very much, I can use these money elsewhere! They absolutely do not care at all about their old and loyal customers. Fine, this is a free country. Moved my account to Scottrade last month, and I will start trading once situation improves, but TD will not see a red cent of my money anymore!!. (Note: TD stole $ 50 of my money, once account moved out- well they can use it for their unemployment benefits or whatever..........). May they end up in chapter 11 soon!!
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03-11-2003, 06:56 PM
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#8 |
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Guest
Posts: n/a
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Inactivity Fee
Don't worry, TD is not the only crook out there. Datek, now Ameritrade does the same thing with inactivity fees. They had gotten me for $45 at $15 a pop until i realized what was happening!
Boy, they were glad to have my business in the good old days. I will be looking or a new trading company. One I will look into is Scottrade as per a previous post. Any ideas of other companies that don't charge fees without having $10,000 in the account? Tim |
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03-14-2003, 06:18 PM
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#9 |
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Guest
Posts: n/a
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Also unimpressed with a periodic charge for "parking " your money during a market where any move is almost assured to be a loser. Wonder if waterhouse management would think such a fee was justified from their doctor, accountant, house painter, insurance agent... because they hadn't generated some revenue in the last quarter ? Relationships would justifiably end. Why not start charging a fee to customers who they send mailed advertisements since the "cost of doing busuness" is no longer an acceptable risk.
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05-09-2004, 01:55 AM
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#10 |
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Registered User
Join Date: Mar 2002
Posts: 1
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Add WellsTrade to the list! As with Tim, they got me for $45 at $15 per quarter. Guess since I'm not a high roller they don't give a you-know-what about my money. I'm sticking with Sharebuilder from now on!
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01-24-2006, 12:57 AM
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#11 |
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Registered User
Join Date: Jan 2006
Posts: 2
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Yeah, I know sharebuilder doesn't charge for parking your money, and neither does scottrade.
I had only $20.00 sitting in my sharebuilder for 2yrs., and even earned interest from the money market account  ...not that the interest was a whole lot, but it was nice to still have the twenty + in my account when I decided to start trading again.Jamie |
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