Merrill Edge Reviews 

Merrill Edge tortures people on their supposed "customer service" line. I'm in my second day of being on hold, and this is following up mistakes they made, and have not corrected from months ago. Today I was disconnected after almost reaching someone who could do something (after being put on hold three times by three different people). After calling back and waiting oh hold another 1-1/2 hours I said hello when the person answered and I was immediately hung up on. I called back again and they never answered. After two hours I noticed it was after 5 in Illinois where I was calling. So they all went home and left everyone on the phones twisting in the wind. Meanwhile they are sitting on a $10,000 mistake--money that is not theirs.

Filled in the online form to request a wire transfer out of my CMA account. No money was moved.
No way to contact them except via the phone number and 45 minutes on hold and no answer, all to do a simple wire transfer.
May have to close my CMA account with this level of incompetence.

Worst trading platform, especially for option traders. No service over the phone. Most of their people don't know the functions. Many times I have lost the trade and they don't bother about it.

I closed my Merrill Edge 401K account because I reside in / am a citizen of Australia. I asked Merrill to wire the funds to my Australian bank because no Australian financial institution will accept checks denominated in US$.

Merrill closes my account and sent me a check in US$, which not a single local Australian bank with cash or deposit.

I have tried to resolve this by spending 10+ frustrating and expensive hours on the phone from Australia trying to get Merrill customer service to solve the issue, with noone taking responsibility for helping me.

Is there anyone out there in Merrill world who can help me escalate and solve this? I desperately need my money here in Australia … and it cannot be in the form of a check in US$!

Customer service does not exist. I have been on hold for 2 hours today, called yesterday had to hang up after 1 hour, previous call was on hold for 45 minutes only to be put on hold to contact the correct "specialist". This is not how you treat your customers. Think twice about opening an account with them, other providers answer their calls.

Well, after 3 weeks, almost a month, to transfer an IRA into a State Retirement Account, I called dozens of times, I spend about 8-10 hours a week calling Merrill Edge. They never email me, and pretty much say that they are working on it, give them another week each time. So, I started this process on 03/06, and even today, on 03/25, “We just got the file and need a week to process”, I even heard once “What’s the hurry?”. A dozen times, I have heard these things about my future. Today on 03/25, someone actually emailed me and said they would try to help me for the first time.

I have no idea how to get my money from Merrill Edge and had to cancel my retirement plans for over a month now. Caused a lot of severe hardship to my life by delaying months to retire due to an IRA simple transfer. I never in my wildest dreams imagined some billion-dollar company struggling with moving some IRA money across.

It's nice that I had an IRA with them, but somehow they cannot seem to give me my money, it's turning into a part-time job, and I call them to beg them that they transfer my money from their IRA into another one, and they seem to have no timeline or concern.

No idea what to do next, but getting my money out of my IRA into another one has cost me a fortune in my time and effort and destroyed some of my plans. It caused a lot of hard ship in my life to not get my funds moved in a month, and still begging every other day.

My 401K was transferred by my old company i work for from Wells Fargo. Well all most 2 weeks ago I decide to close my account and have it transferred to my local bank . For 3 straight days I was on the phone each time over 2 hours waiting to talk to someone . One man whose name was Bob was not very helpful. I explain to him I wanted the full amount and sent overnight . Well I was told they don't do that kind of transactions. I would need to give my banking information. An the money would be transferred. Well they screwed up my account by taking money out of my account. Not oncethey did ever transferred any funds to my account. So I called last Friday to find out what happen never did I get hold of anyone. I called Monday and learned that they sent my money by mail just regular mail. Are you kidding me . The recording said it would take 3 to 5 business days to receive it. Which supposedly they sent it out Feb 25th and today is March 2nd still nothing . If this is the way this company does business with their clients . Close your account and find a bank that will be better. Will update in a few days.

In the US, I had no trouble with Merrill Edge, but since then it has been a nightmare. Their right hand apparently does not know what their left hand is doing. Sadly, the more inefficient they were, the angrier I got - yes, I did apologise. The latest was in Dec 21 when I sold some shares and called to ask for the money for 2021- paperwork sent in the same day but undiscovered for 10 days. A check was issued on Jan 5th. It has yet to arrive. I called several times, speaking the time before last to a manager who assured me that in the 6/7 weeks they allowed for delivery, it was sure to arrive. Mail to the UK takes on average 5 days. He eventually put a stop on the check and the money was put back into my bank - not including the tax they had taken. I was told to call the distribution cte to re-send the funds, but the employee would not put me through as he wanted to know what my last deposit was into my account and I hadn't put anything in. Again speaking to someone new, I was told that there was an issue and I may not be able to have the distribution. They were going to decide. This week - to my US address (that they said couldn't be used as I now have a UK address) - they sent a letter saying they would no longer be my custodian - HALLELUJAH. I feel relieved, the stress of dealing with them is enormous. I'm sure they are as happy for me to leave them as I am to leave them. You have to wonder how they actually survive as they are so inefficient.

Yesterday I spent over 4 hours trying to reach a live person at Merrilll Edge. I finally reached someone at 7:25pm. Their customer service is HORRIBLE. I closed my account & don’t plan on doing business with them again. Now I’ll be battling to get my money back in a timely manner.
Update; attempted to call Merrill Edge this morning at 5:45am as of right now I’ve been on hold for 1 hour & 11 minutes. No one has answered.

WORST CUSTOMER SERVICE EVER!!!
Forget that, you cannot speak to a service rep to even rate their service!
Why send a letter saying contact us immediately, 24/7 ,
If you have no one to speak to? I cannot believe there is no one available at 7 am and I refuse to hold for more than 10 min.
I would do everything on line if I could access my account online!!!!
Is everyone still working from home?

Horrible. I have spent six weeks trying to get my deceased husbands 401 - K money. I have been given nothing but a run around. They still have the money. I am at my whit's end. I have spent HOURS on hold over many days. I have sent emails and letters. I almost feel that I need to report them to the Police. In addition to that, they are cold and unfeeling about the fact that I lost the love of my life. I hate this company.

Worst experience ever!!! Do not deposit your money here. Rolled over 401k needed a withdrawal because i needed surgery they were completely uncaring. Lied about funds clearing when I provided proof from the issuing bank they still could care less. Spent a minimum of 2.5 hours on hold to accomplish nothing. They are so unorganized unprofessional and rude as soon as checks clear I’m closing the account.

I have been dealing with Merrill edge for 2 weeks they have taken the money out of my 401K and they will not give me my money and they keep telling me they're gonna set up my account I've had to involve my former employer into this situation and still they Are giving me lies and they keep telling me that's and that and they are not giving me my money but my money is sitting there not making any gains But they continue to draw interest on my money And I can't get a straight answer from anyone and they won't let me talk to supervisor they won't let me talk to the new account they just won't let me talk to anybody but they sure wanna take your money so yes I would not go with them in the future and it's soon as I can get my money I am out of there

I would give a negative star if possible for Merrill Edge. The platform is very bad and the service is even worse. They would go to any extend to not pay any of the sign on bonus for the accounts. Please DO NOT take your funds into this brokerage. I got scammed by these folks on the account sign on bonus.

When I first started using Merrill Edge (ME) it was ok and I liked the self directed investing. I was also able to speak to someone. Over the last month, I have tried to change my contact details by contacting ME directly but no one answers. I then tried to contact Bank of America and the systems apparently don't speak to each other. Support when systems don't work, should be accessible and 30+ minute wait times are not providing any level of service a company of this size should be proud of. Support your people and given them the resources to help your customers.

Do not set up a Small Business Retirement Plan with Merrill Edge. Worst experience I have ever had! They will sell you on the savings of the program and it will cost you way more than ever disclosed. The customer service is poor and that's if you can get someone to answer the phone.

Terrible!!! Do not give them your money they will hold your phones for weeks and LIE about it ..I had my merril debit card locked n online access restricted out of nowhere. Merrill decided to end relationship but has held my money hostage for weeks!!! The representatives lie and aren’t any help at all..DO NOT do business with this company…even Robinhood is better !!

Merrill Edge's cash sweep program is not only pathetic, since you won't make any money from it while they remove your funds from the account, BUT more importantly it will cause trading violations on your account. When there SHOULD BE enough money in your account to make Day Trades, you will find yourself being warned about Free Riding Violations, when should have had settled money in the account. Merrill has at these times removed your money to their Cash Sweep program where they make money from your money, and they will not even listen to you trying to point out to them that you did not want this, and there should in fact be thousands of settled dollars in your account. They are either too stupid or too belligerent to accept that they are causing these violations, where none should be. If you attempt to contact them, they will insist this is not the case, and isn't happening, when it is happening. That is how stupid their advisors are. Merrill Edge are gaslighting us all. Naturally, you will get ban/violation for 90 days, for having done nothing wrong!

Their customer service is horrible. Many women agents I talked on 7/23/2021 were incompetent and not keepting promise. Takara was impatient and arrogant and rude and untruthful . Their website is user unfriendley and full of glitches and agents act like that they don't care .

Merrill Edge customer support is horrible IF you are a self directed investor...!!! MarketPro has no trouble shooting support and every service advisor that you speak with is progressively more confused. The attitude of most of the advisors is that they have much better things to do with their time than to assist you.