Morgan Stanley Private Bank (Offered through ETrade) Reviews (3)

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.

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!

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!!!!!!!!