Merrill Lynch Customer Service Complaints - page 2

I'm on hold almost 2 hours to follow up on statements they were supposed to send last week. I waited an hour on hold last week. It's disgusting. I'd pull the money if it wouldn't be so painful

Today I received my 401k statement. I have consistently lost value to the tune of over 18%, what an atrocity. Except for the fact that I cannot withdraw from this account because I have an outstanding loan, Merrill Lynch apparently has no real idea on how to invest people's money and make it work for them so they can have some meager security at the end of their working life. I'll bet all the CEOs COOS CFOs got their massive pay raises despite NOT doing their "job". Can't wait til I can roll my 401k the hell away from Merrill,assuming anything is left!

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 by my current case manager.
Yesterday, I actually did finally get a call from my case manager. He told me the new account (evidently, they simply cannot terminate the account of my deceased father and release the funds to the estate bank account) was awaiting approval and that he would call me back later in the day. It was no surprise to me the call back did not take place.
Today, I called AGAIN. This time on hold for one hour and 52 minutes. I was told again they are awaiting creation of the new account. The amount of money is neither monumental nor life-changing. I simply want to FINALLY be able to put my father's account and the estate to rest. The lack of empathy, care or honesty is simply staggering. I feel for the poor customer service people who have to answer these calls. The daily grind they're subjected to from people justifiably angry, frustrated and disgusted with their employer has to be soul crushing.

Horrible experience thus far. I've made 4 attempts to get a hardship 401k withdrawal and denied each time for no valid reason and no communication by mail, email or phone.

I called to help unlock my account and to reset my password. I've been on the phone waiting for associate for 1 hour or so. Not one associate answered for those long hours of waiting. They should just use chat online instead since no one seems to want to answer a phone call.

On hold for 45 minutes for support with a bug on their own website preventing me from logging in.

I've been trying to get a distribution for an estate of a deceased Merrill account holder. They refused to make the distribution with NO communication. I hired an attorney who sent a letter. They still refused to make the distribution. My attorney took it to a Judge to get a court order to make the distribution June 17, 2022 was the court ordered deadline and Merrill STILL did not make the distribution. My attorney is now going to file a law suit next week. Merrill has provided no explanation or communitation. I also had to get a Subpoena to get the 1099s to file the required tax return. It took MONTHS. They ignored the subpoena because it said "all data and financial records" and did not SPECIFICALLY Say 1099S!

I spent a week and some change trying to get an account unlocked. I was constantly lied to, I couldn't get a straight answer no matter how hard I tried. Melissa Ruiz especially has been a constant source of miss communication. has to be one of the worse experiences of finical life. I must say that there was one light in all this Ivan was very friendly and I did feel like he was shooting me straight.

zero customer service and all I want to do is change my address. Will not let you change on line. Waited on hold for over 1/2 hour and hung up twice. Joke.

Horrible service. Useless advisors. Very old practices. Do not put your money with them. They will make you lose money because of their inneficiencies. Run Away!!!

Just got closing all my m lunch account threw my company 401. These guys suck. All they want is too steal you money. Bye fellas

Absolutely horrible, on hold for 2 plus hours every time I call, trying to close out my dads account after he just recently passed, run far far away before dealing with these people

The merrill lynch customer service is the slowest in the history of modern mankind !! You have to wait 45 minutes even if you call 3 hours after the market closes. I`m going to move my money out of my CBA account and not use the ML credit card anymore ! HORRIBLE!

I have been trying to do a roll over account with Merrill Edge for a month, I call them daily now, which takes at least an hour, the response is normally that they will get to it one day. In the meantime it has brought hardship on my family, they do not care, and they will not give me my money

Worst customer EVER!!!!!!!

Impossible to reach. No one answers phone. Emails not answered they should not be on business. Horrible customer service

Merrill Lynch is a poor choice for financial other than for Merrill. Just closed out an investment with Merrill. I have more to close. The only people making money are Mertill Lynch. Even in bond markets we are losing money with their advise.

I have had the worst experience trying to reach ML Life Services to deal with my deceased mom's account. Yesterday I waited 3 1/2 hours to reach someone. I even took a nap during that time! The day before I waited 1 1/2 hours. On wait now,(hopefully for the last time) we'll see how long it takes today.

Can't wait until I no longer have to contact them! And I wish I had millions to move from them in order to make an impact.

Why don't they have a call back option or at least let you know how long you can expect to wait? Pretty simple technology I think they could afford. I am sure the service reps would also appreciate it so they don't have to deal with irate customers that have been on wait for so freaking long. That would make everyone's life so much better!

Merrill Lynch are you listening?

I hope they are not stupid enough to make their potential investors waiting. I know they have lost any opportunity to win my business in the future and anyone else I can tell. Such dumb business practices!

I am extremely dissatisfied with the company. They manage my company 401K. And every time I try to make a hardship withdrawal they deny it for no reason. When you the wait time is almost 1 hour if even you get someone to speak to. In an attempt to access my withdrawal I am forced to do a less than $10 withdrawal. Ridiculous. I don't even know what to do next. Very non responsive company.

I waited 1 hour to get a rep for my 401K. Didn't get one. Hung up. You guys are terrible.

Checks issued by Bank of America Mortgage department didn't get honored by Bank of America Checking account. Ridiculous. Being put on hold for 2 hours, transferred and talked to 3 people to solve a simple problem.

Your reviews should embarrass you but I guess they don't because you very haven't tried to improve. Terri me service !!!!!

It is impossible to get help waited hours for someone to answer. Just terrible. I will be taking my money out as soon as I can get to a bank to do so. I am going to cancel all of my accounts- money marke,savings,checking and stocks. So upset with this companyb

Asked for my account to be closed twice because of in my opinion lousy service. Twice told would do be taken care of. Now charging me acct fees for account that I asked to be liquidated. Do not use Merrill Lynch terrible service at all levels

I am a Preferred Rewards and Platinum member and I will be leaving very soon. I would hate to think what the customer service is for a more basic account. The customer service is HORRIBLE. DO NOT move assets here, PERIOD. They are attempting to move to an automated shop and its not working. I am currently on hold, 48m and counting, no people. I was on hold last week for 49 and 57 minutes separately before getting to a person. The person I spoke with last week was supposed to call me at a scheduled time and then cancelled and would not reschedule.
When you do finally get to someone they have been entirely handcuffed by automated processes. They have no ability to change things and no technical knowledge. They speak intelligibly but don't be fooled - they are not capable.