Morgan Stanley Private Bank, National Association Reviews (5)

Account was frozen (over 400K) after they confused our account with another account / person whose name was not even very similar. We were treated like dirt after 12 years and "Guilty until Innocent". I had to get a lawyer involved to help and the attorney was so bothered, she later charged us only half her fee but still about $1,000 we did not get back for THE BANK ERROR was NOT our fault in ANY way. They would not even waive the transfer fee out when we left ($75 transfer to new brokerage + $95 account closure fee). We had three accounts. This really took a sting. They were nasty until the end. I would pick a smaller brokerage. I was a cog in the system and I have heard of account freezes happening to others by mistake.
Review on the Online bank

Been with Etrade-Morgan Stanley for decades. Always fantastic service & can move funds online in a second from savings to brokerage for trading. Very competitive on saving rates. Very happy customer in Frisco, TX!
Review on the Online bank

The above frustration also holds true for the Morgan Stanley investment teams.
They are very reluctant to help when it comes to Estate Issues such as Power of Attorney. They seem to think they can override an estate trust and are very reluctant to be accommodating in anyway.

The end result will be termination of business with this institution.

Frustrating experience dealing with incompetent agents over the phone. Long hold times, have to start from square every time you call or get disconnected as nobody ever calls you back, even though they confirm you phone number every time

Opened an account and did $1000 for my initial deposit. If your balance averages below $1000 they charge you $10 a month. ETrade withdrew the $1000 from my checking account then, without reason, abruptly decided to close my account. I called them to find out why they closed it and they would not give me a reason other than "we decided not to do business with you". Mind you, I have 5 other online savings account and my credit is in good standing. I have no criminal history. So after they took $1000 out of my checking account, they froze my etrade savings account and I had no way of getting my $1000 back. 5 phone calls and hours of my time later I was able to get my local bank to reverse debit the $1000 back from the jerks. BEWARE!! I would not use them for online savings or for a brokerage account. Very very poor way to treat a new customer. They will withdraw your money, then freeze your account and you have a big problem on your hands. STAY AWAY!!!!!!!!
Review on the Online bank