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Merrill Lynch

3.3
83 complaints

Website

www.ml.com

Address

4 World Financial Center, New York, NY, 10080

Merrill Lynch customers report severe frustrations with estate settlement processes taking months to years, unresponsive account representatives, and frozen accounts without explanation. The overwhelming sentiment reflects poor customer service, with clients unable to reach their advisors and experiencing excessive delays in accessing their funds, particularly during bereavement situations.

Common Issues

32% (9)
deathbeneficiaryinheritance
29% (8)
not returning callsnot respondingtransferred
18% (5)
account lockedclosed my accountblocked
14% (4)
paperworkformsadding myself
7% (2)
small accountnot valuedonly want active traders

Complaints

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Paul A Cartonia

Aug 12, 2022
0

I can never get thru to technical help I use ice platform which I would of paid 600 to keep which is ending August 20th When Merrill platform takes affect when l log into it shows holdings with no trading happening i would gladly give control of computer to tech to duplicate what i have on ice platform which is just holdings and 4 watch lists and trade ability or I would pay tech more than he makes working there to help if I can't resolve this and be trading on 20th I will be forced to close account and

Bank america account Thank you Paul Cartonia

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lisa carbone

Aug 11, 2022
0

I have made numerous calls to them trying to get a transfer handled and every time I have been on hold for a ridiculous amount of time. I am currently on hold and have been for over 5 hours! This is insane!

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Sharon Schutjer

Aug 11, 2022
0

5 hours on hold trying to close my deceased mothers retirement account. The lack of coustomer service is appalling. I am still waiting for them to email the final paper to sign. They just don't give a crap. I bet if I was calling to invest they would answer.

I was on hold for 7 hours today to ask about the email they neglected to send AGAIN. I will never deal with them again. I would have given them - 5 stars. ML you suck.

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Erin Quinn-Neuendorf

Aug 4, 2022
0

Called the Life Services Team on 8/1/2022 to report the passing of my father. On hold for over an hour before I was able to speak to anyone. The person I spoke with was helpful. He was going to email me the Affidavit of Domicile and he scheduled my appointment with a case manager for 8/3/2022 at 1:30pm Central Time to discuss my beneficiary options.

After we hung up, the email arrived but no document was attached so I called back. This time I was on hold for almost two hours before I spoke to someone. That person emailed me the document. On 8/3/2022, I waited for my phone call from the case manager. Nothing.

I even took off an hour of work for this call. After waiting for the call for over an hour, I called the Life Services Team again. After being on hold for an hour, they hung up…

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Hugh L. Bone

Jul 28, 2022
0

I submitted a secure email scanned notarized document requesting direct IRA rollover transfer of my Merrill Edge IRA funds into an IRA at TD Bank. Merrill Edge gave 2 sets of conflicting instructions. One was for TD Bank to call a phone number to arrange direct transfer.

TD Bank was rightly skeptical because bank rep was falsely told it was wrong account number with no documentation. Two was to mail TD Bank prepared rollover request through Merrill Edge secure document email to be forwarded to dept. in charge of IRA rollover transfer.

Merrill Edge says they can't find email.

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Dennis K.

Jul 14, 2022
0

My father passed away in December 2020. Somewhere along the way, I became aware of an IRA account my father had with Merrill-Lynch. I started attempting to get this transferred into another account I (the executor of the estate) could withdraw and parcel out to the others in my father's will and myself.

I finally was able to get some movement in August of 2021 (almost a year at the time of this review). I submitted a document and then... Heard NOTHING. I finally started calling the customer service line, each time waiting on hold no less than an hour and 20 minutes.

It turned out there were errors on the form submission. NOBODY contacted me to let me know. The validity of the form expired and required re-submission. Again, nobody contacted me. I sent emails. NONE of which were answered…

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Joe Mamone

Jul 13, 2022
0

I have been trying to switch my brokerage account from individual to a trust I just created. I have been on hold with ML 3 different times in the past 2 days for over 1/2 hour each and no one picks up.

I sit and listen to that music. What does it take to get help from ML? I need to get this done and the experience is horrible. I don't have the time to sit on the phone for this long with no assistance.

How can you help me?

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Amy

Jul 12, 2022
0

My mom Susan Burton died n they sent checks in her name instead of beneficiary thanks to lied of crystal de Ann Anderson n many others calling n coaching ppl to rip u off its Midland tx office n crystal stole a 10,000$ IRA from my dad n then had bank close acct for my mom after they stole my kids money n gave it to someone who is not my kids biological parents after using a dismissed divorce cause to lie

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Reed Erskine

Jun 27, 2022
0

Tried calling the customer service number to discover endless hold with tiresome triumphal music loop. This is a big outfit, but no one is home.

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Miaotong He

Jun 15, 2022
0

Unprofessional service and bad attitude made me waste time and money.

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Roger Schultz

Jun 6, 2022
0

I have been trying for over two weeks to get a hold of a trading associate. I’ve been on hold for as long as an hour and a half multiple times and no one ever answers. How can I exercise my rights offering if I can’t get through to Merrill Lynch.

If I can’t get satisfaction by June 8 the end of the rights offering I will be closing my account with Merrill Lynch.

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Lester A Dinerstein

May 31, 2022
0

Already sent in complaint, filed small claims against the company, see you in court and I am not kidding

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Boyd C Spivey

May 23, 2022
0

Life service is unreachable and nonresponsive to repeated, multiple attempts to transfer upon death assets managed be Merill Edge. All required documents have been submitted and acknowledged as having been received by Merrill but cannot be reached by phone and all requests to be contacted by life services to finalize and allow access to assets have gone unanswered. This has resulted in an inordinate amount of time elapsing, virtually arresting all assets,

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Chris

May 20, 2022
0

Extremely poor customer service. Absolutely horrible experience anytime I'm on the phone with anyone. This institution has my wife's funds held hostage and we cannot access them because we are unable to talk with anyone competent. All we're trying to do is move the funds over to her current retirement account and no one will talk or provide any assistance whatsoever. Completely and utterly useless.

The service team can barely speak English. Half the time I get someone from Guatemala with terrible internet connection because the satellite fell off their tin can of a roof. The other half the time I'm being bounced around from department to department, authorizing and authoring again, being told I need to talk to the other institution. NO!!

I need you to do your F-ing job and give us our…

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Cynthia C. Cassese

May 18, 2022
0

On March 25th of this year, I spoke with Lucas Depofi regarding transferring assets from my recently deceased father's account to tow separate accounts in my name. (A self-directed CMA and an inherited IRA). I spent an hour and a half on the phone with him.

He also had to speak with my brothers who were also beneficiaries. They did that before the end of March. I waited two weeks and kept signing on and checking my online account and there was still a $0 balance.

I tried calling and emailing Lucas to no avail. I scheduled another online appointment on Friday, April 15th at 9:30 because I just didn't have 2 hours to sit on hold waiting to talk to a person. I got both an email and text confirmation of this meeting but no one called.

So on April 19th, I scheduled another meeting for April…

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Kristina

Apr 27, 2022
0

I was at a party when a guy mentioned he worked at Merrill lunch so I asked for help moving my 401k to a Roth IRA. Someone set it up and to my knowledge he would assist in further contributions with no fee.

After some time I could finally afford to contribute towards my Roth and they charged a $50 for each transaction and when I went to that guy he was no longer at the company. In a condescending manner while asking for information a man told me “we don’t make money off having your account with us”.

COVID began and I set it aside. Now I contacted them again when I was scheduled for two separate phone meetings to discuss my next moves and the assistant Vice President George Salvatore never called and on both occasions he did not even extend any courtesy to acknowledge that he never…

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Cindy Rice

Apr 13, 2022
0

I have attempted numerous times since the death of my husband from Covid to visit about our account. 30 hours. I need a call from someone in the Estate unit. Please help me! I have enormous medical bills from his Covid hospitalization.

I am documenting all these attempts for assistance and will be contacting the insurance commissioner or federal agency overseeing the investment. Thank you, Cindy Rice 918-805-5323

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Blaine Knoll

Apr 9, 2022
0

I am the administrator of my late brother's estate. He passed away 2 years ago and had 2 IRA accounts with Merrill Lynch. They have been extremely unprofessional and non-responsive in my attempts to get the funds distributed to my deceased brother's estate.

They will not return phone calls or return email messages. Even if I call and wait on hold for up to 3 hours, they say they will have to pass the message on to the assigned representative to get back to me, but he never does.

This is costing the estate additional legal and accounting fees and holding up the final disbursements to the heirs of the estate. It is absolutely terrible how this has been handled; it has been over 3 months since I sent in a court order authorizing the disbursement and they just take no action whatsoever.

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Jitendra

Apr 6, 2022
0

My name is jitendra gami last 4 digits of my social is 0805. I am trying to find out what happened to my account of 30 years with you which all off a sudden is closed and no answer I get as to why it was closed and

where is my Money if I try to call on 877-653-4732 most of the time waiting is too long and if after 1 and half hour I get hold of Valerie and before I get my answers I get disconnected on 4/1/22 .

Sent e-mail to merry Lynch . Com but no response then on 4/05/22 called on 1-800-637-7455 greg( not sure) puts me on hold for 50 minutes and never come back . On phone records you can see what my problem is my account is wiped out all my stocks Mutual funds and cash was withdrawn without any e-mail or information.

No body can tell me we’re the cheques are as per the rep. They are…

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Mariah lakey

Apr 6, 2022
0

My account has been on hold for 2 weeks and I can't access my funds and NOBODY can tell me ANYTHING as to why or who to talk to or how to fix it!!!! I am now being evicted because I can't access my money to pay rent!!!! This is beyond ridiculous

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Jitendra

Apr 5, 2022
0

Without any e-mail or notice my account was closed after 2 hours of holding phone line was told account closed and cheque mailed but it’s been 15 days haven’t recd. any cheque.

Also to note that not only they took it on them self and sold my IRA account and stocks they are showing sale on the day market was at low price so they choose to sell and close on the day market was down. Amazing wondering what other customers go through.

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Rich Helton

Mar 26, 2022
0

I have been trying to a IRA roll over account, I spend a dozen hours a week calling them, they said they would eventually get to it, they are in no hurry. Their lack of usefulness has caused great financial hardship on my family

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Jose M Marrone

Mar 18, 2022
0

Have been trying to transfer accounts to Merrill without success. I have to follow up and call on why transactions are not occurring. Nobody has followed up with my concerns although I was told someone would call me. I have to always initiate a call to find out what is happening.

It has been extremely frustrating and I have no confidence in this process.

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Paula Olson

Mar 17, 2022
0

You cannot get ahold of anyone. You wait for hours to talk to anyone and when you do you get wrong info. Emails go unanswered. This company obviously has personnel issues and don't know how they are still in business!!!!

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chanh cao minh

Mar 17, 2022
0

No response from Merrill relationship manager after several days of trying to contact. After more than 30 years banking with ML, I am considering moving all accounts to other financial institutions. There is no point to have a fake relationship program - with absolutely no response at all, let alone help. I have just called this morning talking to Anthony who promised to call my son back. No call so far.

from my son who also shares the same relationship manager "Brian Ryder hasn’t been responsive to my emails lately. Tried pinging Leo Ramos a few days ago but haven’t heard back. Will try again. " Haven’t been that happy with the recent relationship managers."

Dear Mr.Minh,

Thank you for your time today. It was a pleasure speaking with you about your Merrill relationship.

I look forward…

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Andrew Asquith

Mar 14, 2022
0

2/16/22 withdrew my 401K early, paid taxes will pay penalty, for the sole purpose of purchasing some overseas property. Was told I will receive check in 5 to 10 days. No check. Called on 3/7/22 spoke with Jose Perez, He informed me, the previous info was not correct, should have been 7 to 14 days, prompted me to wait a few days. No check. Called 3/11/22.

Robo call said check was cut 2/22/22 and check would arrive in 3-5 days, 1st spoke with Phil Hart(Rude) asked for supervisor. Anna (refused to give last name) prompted me to wait a few more days. I agreed only if she called me on 3/14/22.

No call, no check, deal falls through, I lose plenty money due to incorrect information given by Merrill employees. I expect nothing from this complaint due to the run around Merrill has been giving me.

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Dyana Cannon

Mar 12, 2022
0

Dear Merrill Lynch Headquarters, I wanted to send you an email about a recent Facebook Message encounter I recently had with Ed Skibicki (of New Jersey) who reportedly works for your company. He attacked an innocent post of mine, made rude comments, and posted a page on his Facebook page about me.

Please see the attached PDF. I hope to see this appropriately dealt with on your end as I know you have a great reputation as a company and strive to keep it. Sincerely, Dyana Cannon

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Marc Meyer

Mar 4, 2022
0

Hi, my Member ID is 1808 and my membership level is VIP1. I recently started trading after someone offered to teach me how. Unfortunately this person declined to continue after my first trade. I tried to withdraw my $164 from Merill Lynch because I don't really know how to trade crypto.

Firstly I was told that I couldn't withdraw my money because of maintenance issues and now I have been told that I cannot withdraw it because there is a SAFE investigation taking place into my account. Your customer service advisor has told me that I need to pay another $100 to get my money back!

I don't understand what is going on. I just want my money back. I don't believe that I have done anything wrong. I realise that this is a trivial amount of money to you but it is a lot to me. Please advise

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Linda Pennington Mathieu

Mar 2, 2022
0

I am no longer with ML. I have been very hurt by my treatment by everyone who I dealt with at ML. I thought, when I contacted Cathy Bender in Nashville that I was back in the States that she would take the money that had been put into a bank account and put it back into investments as it had been but nobody contacted me. She didn’t even know you were my manager again. After all the years I have been with ML I expected I would be treated as a valued customer but I was more or less forgotten. 576-86474

Sent from my iPhone

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Kathleen J Kastner

Feb 24, 2022
0

No help at all. Trying to get funds transferred from a deceased mother's account in the life services department. does not returns voice messages. The help line above is a joke. You better have at least 2 hours to sit on hold listening to the same music over and over.

I will obtain an attorney at this point. This has been going on for months. I would NEVER put my money at Merrill. Id give it a minus if i could. Super poor customer service. By the way, i have all my notes, dates and time where ive tried to contact you.

I wont upload them until i SPEAK to someone FIRST. Otherwise my attorney will get them.

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Tyler

Feb 8, 2022
0

Spent the last two days on hold for multiple hours so I can make an attempt at withdrawing my 401(k). Spent the other night giving all my information to someone I finally got in contact with just to be told that they are having system issues and cannot process my request.

I was told to call back the next day or to do it online. Suddenly my account was locked and all the verification questions that were asked were about specific dates I was hired and that was a long time ago and I don’t have access to that information.

The gentleman I got today couldn’t even manage to speak into the phone and I couldn’t hear half of what he was saying. Unprofessional staff and terrible supervisors. If your wait time is over an hour, you need to hire more people.

Never got a hold of a supervisor, so I…

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Megan Sube

Jan 23, 2022
0

Your employee, James Iannazzo both verbally and physically assaulted high school students over a smoothie https://vm.tiktok.com/TTPdroX5Qd/ I find it absolutely APPALLING that you would retain him as an employee and as long as you do, I will be taking my business elsewhere and be vocal about recommending other more ethical companies.

Regards,

M. Sube

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Kimberly

Jan 18, 2022
0

I had to move funds from my 401k with them to a different account. I called the bank I was moving funds to and got the correct information of where Merrill needed to send the check. I then called Merrill, waited on hold for over 40 minutes and got some young man who kept misunderstanding how the check needed to be written out.

By the end of the call, after correcting him repeatedly (and no, I do not have a speech impediment, and English is my native language), I thought he'd finally understood how the check needed to be written out. Two months later the check, made out improperly, has been floating around in the mail, been stapled three times, turned down by two financial institutions (at this point) - all because the Merrill Lynch intern (or new CSR) could not for the life of him…

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Krishna Vijh

Jan 11, 2022
0

I have account on Merrill Edge. Need web site support. Has been calling every day for 2-3 hours. " No one comes for hours. Very very poor customer service. It was never like this. Krishna Vijh

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Angelisa K Olson

Jan 6, 2022
0

I requested to have an "instant" wire transfer sent to my bank. I submitted the request on new years eve. I understand the holidays but when they got back into the office it should have been sent to my bank.

Well here it is the 6th of January and I still don't have my money. I have tried for three days to contact them and each time I have been on the phone on HOLD with a customer service that is supposed to be 24 hours for over an hour each call.

With no promise to call back. I'm about to get kicked out of my apartment and transitioning between jobs. I NEED that money. I have also submitted the request twice with no luck. The fact that I have to put stars I only put one.

I wouldn't put any of I could.

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La hall

Dec 27, 2021
0

I have grown old waiting on their annoying hold lines, all total about 13 hours. I finally get a service rep. We get disconnected and don’t call back. I wanted my mutual fund rolled over to self directed. I cannot get to my money. 00.

Every time I phoned my “advisor “ at the bank they continue to say I am unable to do that. Ahhh runaway!!!!

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Kevin Harriman

Dec 8, 2021
0

Im locked out of my online account by some sort of administrative lock or hold. Calling the representatives and they are saying my SS doesn't match my name. Was told to submit proof of ID with ID and SS, plus a letter to verify, faxed twice with fax verifications in hand, after one month no change.

Representative stonewall you, "your SS doesnt match your name, we cant proceed", cant talk to an administrator, no one can administratively unlock, cant verify your fax or receipt of fax, no supervisors to look into what seems like a clerical errot on their part, no conplaint department or resolution. They have effectively locked me out of more than $250k.

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Randy Boldt

Dec 1, 2021
0

I have worked with Merrill to get my daughters custodial brokerage account transferred. I have spent hours on the phone/at least 6 phone calls/coordinated my daughters communication to no avail. The customer service representatives are not competent in this area. they are nice but do not know how to complete this part of their job. I need to have immediate help or i will transfer all of my BofA and Merrill accounts to a new bank/brokerage.

Randy Boldt

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Robert Tickel

Nov 22, 2021
0

Deposited check at Greenville office 11/15/21 from a real estate closing. The check was for $405,000+. The check cleared the attorney’s bank on 11/16/21. It is now 11/22/21. I do not have access to the money to trade in my acc’t and won’t have until 11/26 per inquiries at Greenville and Charlotte.

I had to move money from my Bank of America checking to cover a trade this morning when I have $400k plus in my acct. Please tell me why this is not absurd. I would like an answer to this issue soon so I don’t have to escalate. Thank you, Robert Tickel

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Karen morrison

Nov 13, 2021
0

The agent failed to unlock my account . She-had me on the phone for 1/2 hr, refusing to unlock it. I’ve been a client for 25 yrs without a problem. She was looking at my username from that many yrs ago.

Her name was Tara, and clearly didn’t know what she eas saying. She went into my account with no problem. She gave me 4 different sign in info none of which worked. She was rude and pretended not to be there at times, because she refused to accept my info into my own acct.

She is obstinant and unable to listen, repeating over and over telling me that I was wrong, and when I asked to speak to a supervisor, which she claimed to have spoken to them and said that they refused to talk to me. I’ve never experienced such a worthless customer service agent, in all my 66 yrs

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Tommy Allen

Nov 13, 2021
0

My account has been disabled,my debit card and checks also. So i have no access to my funds, including my employer sponsored 401k plan,i am over 59 5 so i can withdraw any time and any amount requested, and i am being told that this action was done by no reason and through no fault of my own.

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Brenda Snelgrove

Nov 9, 2021
0

I started a international wire transfer on Oct. 19th and to date have not received any documentation on the wire that has been lost. I have asked numerous times to have some kind of documents showing the transfer and no one has supplied them to me.

The wire department (as I have been told) wired the funds and will no longer do anything. I've asked for a trace and nothing has been done. They refuse to get in touch with the other bank. The other side has tried to reach out numerous times to contact Merrill but with no luck.

They are totally avoiding the lose of my transfer. No one on a higher level will talk to me or the other bank. The only communication is with data entry personal. Tried phoning corporate and can't get through, the call just hangs up on you without a 5 or 6 digit…

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morgan strong

Nov 2, 2021
0

incredible on hold for hours

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Vernon James Drehmer

Aug 25, 2021
0

I called to get my 2021 RMD from my 401K. I was told that I needed to fill out a form, have my wife sign it and have it notarixed. I told them you sent me a check on 9/17/18 and 6/26/19 without a form. I was told they did not know why, since the plan says you need the form for a distribution. But the part that talks about RMDs did not say you needed the form. They did say that they send out RMDs at the end of the year without the form.

Now can you tell me does it make since in December but now now? Is ML just trying to hold onto the money.

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Kiva Clarke

Jul 28, 2021
0

Good day! I am at a loss for words that an inheritance directed to me was disbursed excluding me without proper legal justification and further that only on my asking was a watered down explanation given. I remain appalled that this is the unprofessional structure meted out to customers.

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Jagdeep Rehsi

Jul 21, 2021
0

I was trying to log in and was having issues. I called the number provided.

First, they transferred me back and forth between BOA and Merrill. Then they could not locate my information or verify my id.

Finally, they were able to, and then I was put on hold back and forth just to still be able to log in to my account. This is not the first time but happens every time I need assistance from them.

The service is very bad. I am still on hold for over an hr to resolve this and do not know how long will they keep me on hold.

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THOMAS WHITMAN

Jul 16, 2021
0

I have received a statement for my account 7BR-45H81 and there is a debit for $2,910. I called multiple times and no one can tell me what's for . I have sold stock on December 2020 in the amount of $29,866 and only withdrew $10,000 . call please at 615-6180352

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Carrie Cooper

Jul 6, 2021
0

Tried to get MY MONEY, BECAUSE MY SON WAS KILLED IN A CAR ACCIDENT AND THEY TOLD ME 10DAYS, MY SON'S FACE WAS IN A DODGE RAM TRUCKS GRILL, I HAVE TO GET HIM CREMATED, AND I HAVE TO HAVE A DEATH CERTIFICATE, AND A FUCKING BILL, WHO HAS MONEY PUT ASIDE FOR YOUR CHILDS DEATH. MERRILL LYNCH IS FULL OF SHIT

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Carrie

Jul 6, 2021
0

If you have money in this company, and you have an emergency when you need to get your money out they're not going to give it to you my son was killed in a car accident and I need money to get his body and Merrill Lynch told me 10 days so you know what we say about Merrill Lynch, FUCK THIS COMPANY

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Steven G Purington

Jun 13, 2021
0

Neither of the people I've had contact with in Augusta Georgia office are mature or responsible enough to work at home. They're riding around running errands or they're out in their backyard screwing around with a grill or their bullshitting with family members.

They need to be back in the office being professional and I'm talking about normal work hours not weekends or evenings. Brian O'Shea or Kathy. I'm over it.

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