Australian (ASX) Stock Market Forum

Log on after ETRADE takeover

Jump to new
Sir Burr said:
I had never logged into my normal HSBC savings account, only ever went to the HSBC Stockbroking to do transfers. I have now applied to get a pin # to access my savings account at the HSBC
Click to expand...
I already have a PIN for the standard HSBC Internet Banking site - and that's a bit of a pain now too. They've recently introduced a security code after you log on, where they send you this little device that you can press a button on to display a number and you have to enter that number in. The number changes every time you press the button. Means you have to have the device on you whenever you want to log in (it is small though, and designed to fit on a key ring).

But back to the main issue. The direct debit transfer facility is no longer available at all via the Internet, according to what they've told me. Now you can only do ordinary Internet banking transfers to third-party bank accounts, limited to $5K a day. To transfer money in, you'd have to do the same from your other bank (which I can't, because I haven't enabled transfers to other banks with NAB for security reasons).

The alternatives I was told were to visit a branch (yeah, right), send them a fax, or use cheques. I gather though that visiting a branch or sending them a fax would result in an ordinary TT, involving a fee.

I also asked about using BPay, like Etrade use for the ANZ account, but I'm a bit unclear on the answer there. The woman seemed to indicate this might be possible, but would be limited to $20K per day. That's a bit better than $5K per day, but still not the same as $50K per day (and even that I've found a bit of a PITA).

So the options are not good. One of the main reasons I chose HSBC in the first place was because of this direct debit facility, and now without so much as a by-your-leave, poof! it's vanished.

The only viable solution I can see is moving the settlement account to ANZ, or dumping Etrade and moving to another provider. However, I just moved my other account from NAB to Etrade, because I was sick of NAB, and very few places offer the direct debit facility in the first place (Etrade with an ANZ account is a bit strange - it has a direct debit facility to move funds out of ANZ but you have to use BPay or some other method to move them in).

GP
 
GreatPig said:
The only viable solution I can see is moving the settlement account to ANZ, or dumping Etrade and moving to another provider. However, I just moved my other account from NAB to Etrade, because I was sick of NAB, and very few places offer the direct debit facility in the first place (Etrade with an ANZ account is a bit strange - it has a direct debit facility to move funds out of ANZ but you have to use BPay or some other method to move them in).

GP
Click to expand...

GP,

Much appreciate you explaining this. Thanks.

Yes I had read about that little security device thingy.

I do have the external transfers on my "other" account (to HSBC) but it sounds like HSBC has transfers (direct credit) to the "other" account of amounts of $5000, this is friggen useless because I stop trading when the market turns down and transfer all the money back to where cash works hardest.

This will need some further research.

SB
 
Just got an email regarding my portfolio complaints - open 'till 10pm tonight:

Thank you for your email.

We are currently experiencing intermittent problems with the web site which we are currently working to resolve. We sincerely apologise for the inconvenience and kindly ask that you try to access the site tomorrow morning.

If you have any further queries please reply to service@etrade.com.au or call 1300 658 355. Our call centre will be open until 10.00pm tonight and will re-open at 7.00am Tuesday morning.

Kind Regards,
Click to expand...
 
Had a call last night about 6.00 from direct shares.A rather pleasant sounding girl was responding to my email and wanted to know how I was getting on.
She offered to walk me through the site,but I had closed everything up and couldn't be bothered spending the time going back in.
The problem I have at the moment is I feel half pregnant.I am not with etrade,it is still directshares,but an abortion of the site it was before for my needs.
The girl on the phone said if anyone had problems they could ring a customer service rep,who would guide them through.
Maybe when things settle down I'll give one a call.
Was thinking about changing bank accounts anyway.
Stgeorge portfolio a/c used to give over 4% on balances over $5000.
Now they give 0.1%+ carge $6 if the a/c drops.
Problem is all our direct deposits for dividends,rent etc goes into that a/c.
The stgeorge everyday a/c has gone up from $1000 to $3000 balance for fee free threshhold,that a/c pays 0.01%.
To keep both a/c open without fees ties up $8000.
The online pays 5.8%,but even though transfers are free,after 2 transactions they get taken off the total of free transactions allowed a month
 
Mostly crap again this morning. Has moments where it works okay, but then back to the wait... wait... wait...

GP
 
3 attempts to log on at market open then locked out for 15 minutes because of failed log on while the market is diving, I am using an old Comsec account to monitor my stocks it updates instantly.
 
GreatPig said:
It now looks like I'm going to have to move my settlement account from HSBC to ANZ so that I can actually transfer a reasonable amount of funds into it via the Internet again. Etrade have already told me I have to apply for a new HIN to do that - I can't just change the settlement account of the existing HIN. And then I'll become an ordinary new Etrade customer, probably losing the lower HSBC brokerage rate.
GP
Click to expand...

GP,

FFS this is friggen annoying:

Thank you for your email. To open an E*TRADE ANZ Cash Account, you will need to open a new E*TRADE trading account. I have posted out some information about the account, as well as a new application form. You can also apply online, through the E*TRADE website.

Unfortunately an ANZ Cash Account can't be created without a new trading account and I apologies for any inconvenience this may cause you.

Kind regards,
Click to expand...

:swear: AND JUST GOT THIS TOO:

Thank you for your interest in opening an E*TRADE account. We will be posting your application form and E*TRADE Guide shortly. To help us open your account quickly, please ensure you follow these easy steps when posting your application.

CHECKLIST:
1. Complete the application in full.
2. Sign all declarations (ensure all applicants sign).
3. You MUST include a copy of that part of your bank statement of your nominated bank account, which evidences the account name, BSB and account number.
4. Write your Lead Reference Number on your application.
5. To transfer sponsored holdings, you must complete a CHESS Sponsorship Transfer Form and attach copies of your last broker sponsored and/or issuer sponsored holding statements.
6. Mail your application and supporting information, where required to: E*TRADE Australia Securities LimitedReply Paid 1346ROYAL EXCHANGE NSW 1224
Click to expand...
 
SB,

I just recently went through all the rigmarole of transferring a HIN to Etrade from NAB. It's not a great drama, but once you send in the application it can take a while (2-3 weeks from memory).

I also had a problem that NAB wouldn't release the HIN while I had unsettled trades, so I had to stop trading for a few days. For some inexplicable reason that was about a week, despite settlement being T+3.

Even though I have no HIN with NAB now, I can still log into my account with them. This is sort-of useful as the NAB watchlist display shows pre-open match prices, which Etrade and HSBC don't. Unfortunately they're 20 minute delayed though, so of no great use. I can also download daily price data from NAB if I want to.

GP
 
i had weird experience this morning, i got enough money in my account to buy portfolio (CBH) but when i tried to place the order, the system didnt let me.

it says 'insufficient fund'...so had to call the cust service, to place my order manually to the market.

hope that problem will never happened again in the future, coz it was so annoying for me :mad:

oh well.........................
 
It will happen all the time if you trade short option positions. The account will show the full debit for the position even if you have the cover of a long option position. So if there is not enough cash to cover the full position its all telephone from then on.:mad: :banghead:
 
I've noticed today that when I log in using my account transferred from HSBC, I get into the new website and it seems to be working fine today.

However, if I log in to the account I transferred from NAB a few weeks ago, I get redirected to the old website with a message that the new site is experiencing problems.

Looks like they're giving the new HSBC customers preferential treatment :rolleyes:

Cheers,
GP
 
im an anz etrader and if i log on to the new website it chucks me over to the old website, but i can access the new website from there by clicking the link :cautious:
 
GreatPig,is the site the same for the two accounts you transferred?(in functionality I mean)
I have an idea that there are different levels of service for different clients among brokers.
I think the transfers from HSBC are paying less per trade than the old etrade clients,but getting a lower level of function unless willing to upgrade.
I have an a/c with a mob called V-Broker,through my software provider Ic-Investor.This a/c is free for the basics,and the paper work was for sanfords.
Imbedded in it are things which I cannot get to,for investorweb clients.
I have been told that Ic-Investor customers can get reasonable access to halifax,though I haven't gone into it yet.
I have come to the conclusion a lot of these services a rebadged on a one size fits all basis.
I found etrade (sounds funny saying that,no mention of it around much)easier to get into today and a lot faster than yesterday.It will still need a lot of tweaking to get it the way I like.
Got another phone call last night from a guy from etrade wanting to know how things were going.Wonder if they know anything about buying and selling on the site,or if they just work in the IT side.
Brian
 
Brian,

Etrade may have had better performance today because it looks like it was redirecting some customers (persumably the existing ones) back to the old website, leaving less load on the new website.

I haven't used it enough for either account yet to really compare functionalities. I do have different levels of service with each account though (or am supposed to have - I was on the platinum level with HSBC), and so far I haven't been charged any brokerage for the couple of trades I've done since the move from HSBC. Brokerage on the other account is about $32.

GP
 
does anybody have the same problem in placing buy order using etrade?
they said not enough money, in fact i just sold one share to buy another.
have to call up and ask them to put order manually, and guess what, sp already increase... :mad:
what is going on with their system?
why they can't even make it work properly?
:banghead:
 
Found etrade(directshares?)much faster today,also,surprise surprise,when I click on the logon for direct shares in my internet banking it now takes me straight there instead of showing page unavailable.If it had done that from day one my experience would not have been nearly as negative as it was.
Brian.
PS Have not tried to trade with them as yet.
 
powerkoala said:
does anybody have the same problem in placing buy order using etrade?
they said not enough money, in fact i just sold one share to buy another.
have to call up and ask them to put order manually, and guess what, sp already increase... :mad:
what is going on with their system?
why they can't even make it work properly?
:banghead:
Click to expand...

I thought there might be problems and I transferred extra money to my trading account, but they just disappear.
I buy and sell shares and account should grow not shrink.

Sent them E-mail, but wait for response.

By the end of next week I’ll definitely run out of money if they run show this way.
Hope they solve it before then.
 
GreatPig said:
SB,

I just recently went through all the rigmarole of transferring a HIN to Etrade from NAB.
Click to expand...

GP, Just an update the the missing trade in my portfolio, it has appeared! :)

Also, today I recieved my little security device and and sighed a breath of relief when I saw on the paperwork that my acoount has the following:

- Bill payments using B-Pay $20,000
- 3rd Party Payments $0.00
- Transfer between your accounts above $500,000

The "payments above" is blank so I am guessing you can add accounts (external Credo!) in which I may be able to transfer upto $500,000.

SB
 
Sir Burr said:
The "payments above" is blank so I am guessing you can add accounts (external Credo!) in which I may be able to transfer upto $500,000.
Click to expand...
I think you might find that's between multiple accounts within HSBC itself. Transferring to accounts in other banks is limited to $5K per day. And to transfer funds into HSBC, you need to have the same facility in your other bank.

The $20K limit for PBay isn't very good either. With NAB I can do much higher amounts, depending on who the payee is (the ATO for example seems to be unlimited).

GP
 
Top