Similar complaint about td ameritrade on bbb
05/21/2020
Sudden Account Closure This seems to be a common practice with TD Ameritrade, so this will sound like a broken record. I opened my new brokerage account on 04/28/2020 with the hopes of trading and investing. I subsequently funded the account with two ACH transfers from my checking account on 04/28 and 05/10. On 05/12, I deposited a check using their mobile app, which cleared within the hour since it was a check directly from the US Treasury. All was well until the afternoon of 05/14, when I couldn't login to my account. Thinking this was a tech glitch, I reached out to Customer Service only to find out that my account was closed due to "Suspicion of Fraud." As mentioned in previous complaints, I did not receive any correspondence about the closing of my account. Also mentioned in other complaints here, the rep informed me he couldn't discuss it further, and he told me I should be on the lookout for a letter in the mail for the next steps. Here we are on 05/21, and I haven't received anything in the mail. I find it utterly embarrassing that in 2020, a multi billion Fortune 500 financial institution lacks the wherewithal to communicate with their customers. What's equally disgraceful is how someone's account can be miraculously closed shortly after funding their account.