Consumer complaint received 2025-09-01 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: MORGAN STANLEY & CO. LLC
State: GA

Complaint narrative:
Morgan Stanley {$250.00} Promotion Dispute Im attaching screenshots to show you what happened. I also have voice recordings to supply from calls where Morgan Stanley Manager ( female ) lied to me on XX/XX/XXXX at XXXX XXXX  EST. Heres what happened. 

On XX/XX/XXXX at XXXX XXXX  EST I received a pop up message in my Etrader app from Morgan Stanley advertising to me its {$250.00} promotional deposit to my checking account if I create the checking account and make two payroll deposits. The popup said : A limited-time {$250.00} cash bonus just for you Unlock a {$250.00} cash bonus when you open a new checking account from Morgan Stanley Private Bank , Member FDIC by XX/XX/XXXX and make at least two qualifying direct deposits, each of {$1000.00} or more, within 90 days of opening your new account. 

On XX/XX/XXXX at XXXX XXXX  EST I have a screenshot after I created my new checking account and was informed Im enrolled in the {$250.00} promotion. Heres what it said : Your new checking account is enrolled in a cash promotion XXXX XXXX ET XX/XX/XXXX Account number ( s ) ending in : INDIVIDUAL XXXX XXXX Congratulations! You have opened a checking account with Morgan Stanley Private Bank, Member FDIC, and are now enrolled in a limited time promotional offer. You are only a few steps away from getting your {$250.00} reward. 
Here is how to get your {$250.00} cash bonus : Set up direct deposit, each of {$1000.00} or more. Learn how at etrade.com/directdeposit.

Ensure you receive two qualifying direct deposits within the next 90 days.

Get rewarded with a {$250.00} bonus deposit into your new account. Pretty nice, eh? 


As you can see above, never in the promotion details was it mentioned that I must KEEP the direct deposits in the account. It say I must only MAKE those deposits. 

I have a screenshot from XX/XX/XXXX at XXXX XXXX  EST with Morgan Stanley saying again Make at least 2 qualifying direct deposits, each of {$1000.00} or more, within 90 days of opening your new account.

Nothing about KEEPING the deposits in the account for 90 days.

I made 2 qualifying direct deposits, each of {$1000.00} payroll from XXXX, within 90 days of opening my new checking account. 

I have a screenshot XX/XX/XXXX XXXX XXXX  showing {$1000.00} payroll deposit into Morgan Stanley promotional checking by Salesforce ; and then {$1000.00} again from XXXX payroll, after which on XX/XX/XXXX I have a screenshot at XXXX XXXX  EST that shows : You're on track to receive a cash bonus in your new account XXXX XXXX ET XX/XX/XXXX Account number ( s ) ending in : INDIVIDUAL XXXX XXXX Congratulations! Based on your recent direct deposits into your new checking account, you've met the preliminary qualifications and are on track to receive a {$250.00} cash bonus. 



On XX/XX/XXXX, I have a screenshot from XXXX XXXX  EST saying : About your recent enrollment in our cash bonus XXXX XXXX  ET XX/XX/XXXX Account ending in : XXXX You recently opened a new checking account from Morgan Stanley Private Bank, Member FDIC as part of a cash bonus offer. Unfortunately, your account did not meet the offer requirements to qualify for the cash bonus. 

I felt deceived, misled, lied to, and robbed. 

I am a XXXX woman, and {$250.00} pays for TWO MONTHS of my essential medications. Morgan Stanley took advantage of me. 

I called their customer service. 

I spoke with XXXX who confirmed my deposits and everything, I spoke with XXXX XXXX, and I had to speak to a woman MANAGER who told me they DISQUALIFIED me from receiving {$250.00} because I did not KEEP direct deposits in that new checking account for 90 days, which was NOT mentioned in their promotion. I kept my account in GOOD STANDING with no negative balance and I made direct deposits and met all of the requirements they advertised to me. 

Below are my notes from opening promotional checking account in the same timeframe with other banks that had advertised that you must MAKE the direct deposits. None ever demanded that I keep deposits there, and every bank paid me the promotion, except Morgan Stanley : Bonus from XXXX {$300.00} Bonus from XXXX  {$300.00} Bonus from XXXX {$300.00} BONUS from XXXX {$400.00} BONUS from XXXX {$300.00} BONUS from XXXX {$200.00} BONUS from XXXX  {$300.00} BONUS from XXXX XXXX {$300.00} - [ ] BONUS from XXXX Morgan Stanley {$250.00} XXXX  XXXX {$1000.00} deposits 120 days. I called on XX/XX/XXXX and spoke with XXXX, he said my bonus will be paid XX/XX/XXXX. 

I have been false-adversed to, misled, deceived, and robbed. I need my {$250.00}, especially as a XXXX woman who is vulnerable and lost a lot by NOT receiving a promotion from another bank where I could have deposited had I not trusted the liars and deceivers at Morgan Stanley who preyed on me. I need my {$250.00} now!

Company response to consumer: Closed with explanation