Consumer complaint received 2023-12-21
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: MORGAN STANLEY & CO. LLC (NC)

I have had a Morgan Stanley Private Bank Account and an E*Trade account since XXXX XXXX XXXX  ( they are linked under a single sign-on ). My accounts have always been well-funded ( never overdrawn ) and Ive never used the margin on the brokerage account. 

I have set up wires from the MSPB account several times online. On XX/XX/XXXX, one of the contractors working on my house left before I could bring him his check. I told him Id send him a wire if he could send me his account info. He sent me his acct. and routing number, then I put the rest of the beneficiary details ( name/address, etc. ) from his invoice onto the outgoing wire transfer request. The wire was for {$2000.00}. I sent it one time, then got an email saying the wire transfer had been canceled, I was in a hurry and tried it again, got the same email again. Then, I tried it for a third time for XXXX XXXX thinking that may make a difference ( though I hadnt reached any daily wire limits ) got the email that the wire was canceled again. I had the account page open all day and was day trading throughout the afternoon. Then, the internet dropped and logged me out. I tried to log back in and it said my User ID was inactive due to unusual activity and to call the E*Trade. 

I called E*Trade and was told to submit a letter of instruction with my signature, copies of my DL and SSN card, and a copy of the most recent statement of the funding account XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I submitted everything and they said great, we will unlock your account in 3-5 business day and you can go back to normal, I said, heck no, I am closing this account because this is ridiculous and you can just wire my cash back to XXXX XXXX and can do an ACAT for my existing positions to my other brokerage account. Called back 4 business days later and they said they needed to do a three-way call with me and XXXX XXXX to verify my identity. We did the three-way call and everything was satisfactory to the E*Trade CS Agent -- he told me that the back office would need to review everything and that a new 3-5 business day window would now begin for their review. That was on XXXX I have called back every 3 and 5 business days and am told it is still under review but that have my wiring instructions and ACAT ready. The last time I called, the agent said that I could get with XXXX XXXX and see if they would recall the funds ( which seemed weird to me ). My last wire from XXXX XXXX to this account was for XXXX XXXXXXXX in XXXX. 

I filed a complaint with FINRA yesterday and sat down with my personal banker at XXXX XXXX today. I brought her everything and we called them together. They have her the same response - the account is still under review and they cant provide a timeline for when I can have access to my funds or positions, but that is should be soon. We asked to speak with a supervisor and they said that any superior could not provide us with more information and that this is in the back office. Now, my banker wants to try to recall the last wire that was sent.