Merrill Lynch Customer Service

User Reviews, Ratings and Comments

Merrill Lynch customer service is ranked #440 out of the 946 companies that have a rating with an overall score of 33.57 out of a possible 200 based upon 35 ratings. This score rates Merrill Lynch customer service and customer support as Disappointing.


32 Negative Comments out of 35 Total Comments is 91.43%.


3 Positive Comments out of 35 Total Comments is 8.57%.

Issue Resolution




Product Knowledge

Disappointing Overall Customer Service Rating

  • Merrill Lynch

    Customer Service Scoreboard

    • 33.57 Overall Rating
      (out of 200 possible)
    • 32 negative comments (91.43%)
    • 3 positive comments (8.57%)
    • 0 employee comments
    • Attribute Ratings
      (out of 10 possible)
    • 2.2 Issue Resolution
    • 3.1 Reachability
    • 1.5 Cancellation
    • 2.9 Friendliness
    • 2.8 Product Knowledge

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Posted by George H.

Merrill has prevented me from using funds in my IRA account to purchase stocks within Merrill Edge. I sold some stocks and tried to purchase more the next day. After purchasing just one stock, my account was locked because I had not waited 2 days between trades (something they don't tell you is against their rules). Further, they imposed a 90-day lockout penalty since I had "violated their rules" with the next day trade. They said if I would deposit $3800 more in my account, they would consider lifting the 90-day penalty. In effect, they are making money off my account for 90 days and I get nothing, tantamount to account hostage piracy.
Please be warned that Merrill Edge is not a safe place for your IRA or investments, since they will come up with some scheme to cheat you out of your returns.

Posted by K Rowe

Merrill Lynch has effectively stolen my account worth millions of dollars. They refuse to respond to fraud complaints. It's as simple as looking at the documentation in the account to determine that the activity on the account isn't supported. However, they refuse to acknowledge the existence of the account without a court order. I was lied to for over two weeks and told that having a police officer present would be enough to initiate an investigation. Now, branch managers are refusing to cooperate with law enforcement and holding my bank account hostage. This is criminal and just plain immoral. As soon as this is cleared up I plan to take my money elsewhere, I encourage all BoA and Merrill Lynch customers to do likewise.

Posted by ex ML client

wanted to roll out my 401k.... after 11 years of employment, they still had me not vested. fixed it. then they didn't agree with my hire date (of 11 years prior). fixed it. then rolled out.... checked balance the next day, to my surprise, not zero! they claim a dividend came in after I rolled the account and to get the money, I have to pay another transaction fee. Yes, they suck.

Posted by Lynn210

The most incompetent, unorganized company I have ever dealt with. It has taken me almost 3 months to draw MY retirement funds out of Merrill Lynch...talked to 4 different people, told me I would have it by October 1st, then November 1st, and now not until the end of November. Now my attorney will be sending a letter to them and demanding the check be cut no later than November 21st or I wind up in their office to collect it.

Posted by Anonymous

Negative 5K. New company auto-enrolled me in ML plan w/o a by-your-leave, which is in my book Identity Fraud and Theft. Called ML to cancel, male rep named Christian refused to cancel my illegally obtained account because I wouldn't listen to his script about how wonderful an account with them was. REFUSED. Can't find corporate contact info; this company needs to find a legally tenable model of obtaining business and had better train their people to CANCEL ACCOUNTS UPON REQUEST PERIOD.

Posted by munisco

Beware - Merrrill Edge Charges Exit Fee

After having my account at Merrill Edge for eleven years, I moved it to another brokerage. They charged me an exit fee of $49.95. This is unusual at a brokerage. Be aware of the fee before you open an account. They will charge you to close it.

Posted by iluvdmb

Your customer service is the worst I have ever seen in my life. the people that work there are completely incompetent and are probably mentally handicapped and do not have the brains or intellectual capacity to do their jobs. Please fire everyone there and hire new and competent intelligent people who know how to do their jobs. This company is a total and complete disgrace you should all be ashamed of yourselves and the lives that you live.

Posted by Anonymous

You have a financial advisory group in Melville, NY whose license should be revoked. The Sheer/Provenz group managed my account while at UBS several years ago. They not only sold me bogus securities, they churned my account and caused the loss of all of my tax relief when they skipped over to Morgan Stanley. To make matters worse, they abandoned any possible opportunities of making this right. I can only assume they ran into trouble at MS and had to find a home at Merrill Lynch. Frankly, being a lifelong B of A customer and Merrill stock plan participant, I would have expected more.

My experience with them makes me wonder what kind of vetting ML does when recruiting their advisors.

Posted by Joanne

They have cheated my son and I will continue to pursue complaints against merrill lynch and merrill edge until they return the charges that they lied about. As an accountant, I know Merrill Lynch used to be a good name, now their
customer service lies and lies and charges even when they say no charge.
Merrill you can't survive doing business like this.

Posted by Anonymous

Steer far clear of Merrill Lynch! 99% of their customer "service" representatives are incompetent and have no clue - and they couldn't care less.

Below a commenter says that Merrill claims "they could no longer have overseas holders of accounts". This is lying BS on their part. They sure can have overseas holders (just ask the SEC), but they just don't want to.

Posted by blowfish

I have been trying to open a trust account for two weeks. After completing the paper work to deposit over $300,000 they now must go thru an approval process. YUK

Posted by Anonymous

Discovered by chance yesterday that my CMA account was being "liquidated" on 1st August. Meanwhile the account funds have been locked down. Reason given was that they could no longer have overseas holders of accounts. I have been an 'overseas resident' for 30 of the 34 years I have held the account.

Would have been nice if ML had had the courtesy to inform me by letter, email or telephone. Instead of which they just refused to make a payment and will not let me access my funds.

Posted by trader

Merill Lynch has to be the worst company to do business with.
Their brokers look to sell the investment vehicles that gives
them the highest commission.
They really do not look out for their clients
They just go through the motions.
Any company would be better than Merill Lynch.

Posted by TIm Anderson

Customer Service and Merrill Lynch (ML) should not be uttered in the same breath. ML provides no such service. ML is the Comcast of the financial advising world. Be prepared for rudeness, lack of response and arrogance.

Posted by partsfinder1

I had a IRA with Merrill Lynch, never heard from my advisor except once in a year. Went to close my account out March 28,2015, was told a check would be send to me in 3-5 days,no check. I call on 4/9, a check was never issued, they don't no why call back in the morning because distribution isn't working now. Call back in the morning, they still don't know. I blew a gasket, it'll be another 5 days, I told them you made the mistake fix it. Switched me to resolution, we'll next day air a check to you, will you be home Saturday, no but I but I can have my son drive an hour and a half to be hear called Merrill Lynch tonight to make sure the check is coming tomorrow, they can't tell, even though Amamda said I will leave detail notes, if you have any issues call. Will never do business with Merrill Lynch or Bank of America

Posted by Bigtango46

This is my second written complaint to Consumer Affairs and the first to Merrill Lynch. After over three years of back and forth with Merrill Lynch's Ownership Transition Team sending various documents, I finally decided to file a complaint December, 2014 with Consume Affairs. It is now the end of January and after repeatedly being assured that all the needed documents were recieved, I was advised that all I had to do was open a cash account, the money would be transferred into my account and that a check would be distributed or so I thought. Well, after following the Ownership Team's directions and sending form after form (some noterized), again I'm being told that I don't didn't complete the nescessary forms, the mangement team has to review them AGAIN!,the legal team has to review them AGAIN and it will take another 3 to 4 weeks and that I have missing documents. They even forced me to open an account in my name and said that they would move the money there and it would expedite releasing of funds. I did this and the story is the same for the last three years. I don't want to do any business with Merrill as they are not consumer/customer sensitive. I've had it!!!! I've asked repeatedly to speak with someone in luck. I've asked is there a consumer affairs department so that I can lodge a luck. My mother had CMA and IRA accounts, I was told there was not. I was even told once that the buck stopped there!! Repeated attempts to close the accounts has been a three year odessy. Rest assured I will WRITE THE PRESIDENT OF THE UNITED STATES and give him my opinion and advise him that bailing Merrill out was a definite mistake, they are more concerned about lining their pockets than satisfying their small clients.

My advice is to anyone thinking about doing business with Merrill Lynch...DON"T!!!!!

E. Andre Petties, Personal Represntative

Posted by Anonymous

My name is Genevieve W. Turner and I am supposed to have an account with Merrill Lynch I have been trying to find some way to talk to someone because I have not received my quarterly report nor my distribution which I get in March. When I try to reach my account on the computer none of my user ids or passwords work. My email address is and my telephone number is When I called your number the office was closed. I am an old 90 year old woman and would appreciate help from some kind soul.

Posted by Lorraine

Dear Sir/Madam
I was a Samsung winner and have paid out a considerable amount of money to get my prize fund of £420,000.00 and Samsung products sent to me. Infact i paid over £21000.00. I have now been given an ATM DEBIT CARD because my bankers draft was out of date. Being a winner means i dont feel i should of paid out a penny and that these funds should have been paid directly into my account.I feel as a Samsung customer i have been let down on .I have read the small print on my HSBC letter that i received with my card and now they are wanting a fee of £22000.00 to activate my card i cannot believe this i dont feel like a Samsung winner at all. I think Samsung should have paid all these fees i have paid out on my behalf.I have been in contact with a Mr Shawn at HSBC South Africa who i have told i cannot pay anymore and because of this i am now being ignored.This i feel is very unprofessional on both HSBC and Samsungs behalf. I just want my £21000.00 refunded to me and i just want it to be the end of it otherwise i have no option to take this matter further.
Lorraine Cornwell

Posted by James R

I received a form letter from Merrill Edge Pennington, NJ signed by **. At the end of the letter was the useless 800 number to Jacksonville, FL. So I did a bit of investigating and came up with Dial that number, press 4 for the company directory. Then spell the person's last and first name. So, when you get an unhelpful response form letter signed by someone, Enter that person's name in the directory, get their phone number and 'reach out' to them!


My mother has an IRA/ IRRA/ ROTH IRA account with so called Merrill Lynch / Edge. In mid-July 2012, my sister had texted me and mentioned to me about the account. When I had called Merrill Lynch the first time, I had spoken to an Ashley. She informed me of my mother’s account, how many shares were in her account and I had to fill out the Beneficiary Distribution Form. I attend UMBC and school began in late August. Once I got the swing of things with school, I decided to take care of everything in the beginning of September.

September 10 – I had sent in the death certificate and divorce papers. I had talked to Kevin, from the Ownership Transition Team, he had asked for mom’s social and he was able to look up her information.

September 15 – I spoke to a Paul, also from the Ownership Transition Team, and had informed me to fill out the IRA / IRRA / ROTH IRA / SEP SRA / Inherited IRA transfer instruction form.

Oct. 1 – I haven’t heard anything from Merrill Lynch. My financial advisor at the time hadn’t heard anything either.

Oct. 3 – My financial advisor informed me that my sister gets 50% and I get 50% from mom’s account.

Oct. 9 – I wanted to check the status of the account and was directed to someone in the Ownership Transition team. The Beneficiary distribution form I had submitted was checked “wrong” so I had to fax the Beneficiary Distribution Form again / resign and date. Once received, I was informed “the money can be transferred tomorrow.”

Oct. 10 – I was directed to the Ownership Transition team. They requested another copy of the death certificate and informed me stating that they can’t hold it. I sent the original copy back in 2010.

Oct. 17 – I was informed my account was ready.

Oct. 18 – I was informed that the money should be in my account by the end of next week. Merrill Lynch just had to make sure that the shares were divided evenly between me and my sister.

Oct. 23 – 10:40AM Lynn from Merrill edge called me and left a voicemail. I asked for the Ownership Transition Team and spoke to Ryan. He informs me that the death certificate is missing and I ‘accidentally’ checked two boxes on Section 5. How do I “accidentally” check two boxes when he was the one that guided me on how to fill out the form?

Nov. 5th – Still nothing. So much turn around. Not working. Sent in the Inherited IRA transfer instruction form before and was informed that I need to make an account with the type similar to how mom’s account is and I need to resend a new set of forms. Financial advisor mentioned to me that my mom has an IRA and I needed my account to be an inherited IRA to avoid tax. Need to just have the money mailed out by check to be deposited and used for school.

Nov. 8: I spoke to Anya and she mentioned that I need to go back to the Beneficiary Distribution Form. My sister already has an account with Merrill Lynch. I informed Anya that I’m asking for a distribution by check so I can use the money for school.

Nov. 26 – 12:34PM: First, the Beneficiary Distribution form was approved, but they have to go through the liquidation process. Told me I should have the distribution within a week / week and a half. I don’t understand why it even takes this long for the liquidation process?

Nov. 28 – 8:20AM: I was informed that a policy was just “put into effect ”, that the money cannot be distributed to me because it has to go into mom’s estate, which was closed back in 2010, and Merrill Lynch needs an updated from of Letter of Administration from court house. I was appointed Personal Representative back in April 2007.

Dec. 5: Had taken off from work to drive down to the courthouse in La Plata at exactly 8:30AM to get letter of administration. My sister met me there and we were done by 10AM. We call Merrill Lynch in the process to speak to this wonderful lady who was so very helpful at the Register of Wills office. Merrill claims that since mom’s account was set up the way that it was set up, neither me nor my sisters are beneficiaries on the account. We were informed that there are no beneficiaries on file. Dennis calls after we leave the court house and informs me to hold off on the Estate. I am beyond upset at this point. Informed me there was a similar case so they’re going to dispute this with Merrill Lynch.

Dec. 7TH: 12:30PM I call to find out the status about the dispute. I was informed that they lost and I need to go ahead and open the Estate – I have not opened up the Estate.

DEC. 10TH: Spoke to Dennis. Had to refax to him the beneficiary form and administration. Need to follow up this Wednesday – Dec. 12. Why do I have to refax everything AGAIN?

DEC. 11TH: Faxed beneficiary distribution form again, supplemental inventory paperwork in regards to the Estate & Letter of Administration. Spoke to Dennis and he said they should be fine WITHOUT the seal.

Dec. 12TH: Said there was confusion with the account. & they needed to see the raised seal on Letter of Administration. What? Should have told me that the first time! This is getting really annoying.

DEC. 17TH: 12:30PM They’re still waiting on the Legal Department to approve the testamentary to be able to “move forward” and be able to distribute the money.

DEC.19TH Alicia had left me a message from the Ownership Transition team. I return the call. I was still told that they need a Tax ID number and the SSN will not suffice. Why? I have no idea. Neither explanation nor reasonable cause was given to me. At this point, I'm beyond livid.

JAN.2013 - brand new year; I'm hoping for all this to be done and over with. Or so you'd think. An uninterested party informs me that the SSN number will not suffice due to the fact that my mother is deceased, hence why a Tax ID number is needed. Was it so hard for Merrill to say those words? Apparently it was.

This "organization" is so disorganized, I don't even know how to describe them anymore. The Ownership Transition Team, first of all, has a bunch of idiots working in that team. I have spoken to every single person on this team and they have no knowledge of what they're doing nor does anyone from that Team, and I believe in that organization, give a damn if someone in your family dies or if you're trying to get the benefits. All they care about is money.

If you have the chance to get your money out, you should definitely do so. Inform your friends and your family, to spare yourself from the heartache and emotional distress that I have been put through for the past 6-7 months, please do not bank with these people.

Posted by Stay Away

Worse customer service in the industry. Constantly transfer your call from one department to another. No one can resolve issue, each department blames each other. Take your business and money somewhere else.

Posted by do not waste your time

Merrill Lynch Poughkeepsie Branch is a joke. Rude and condescending the "staff" are more interested in generating transaction fees than looking after your money. The place is a joke. The employees even more of a joke. SDo not waste your breath. If you are looking for an investment

Posted by Anonymous

I have been a loyal customer of bank of america, so much I consolidated all my investments, mortgages, and banking needs with them. A few weeks ago I was hung up on by my personal advisor, Greg.

I questioned why he wanted to make a few trades in my account. I also asked him to set up a call with their mortgage department to help me with a refi, he stated that he wouldn't b/c he already did that and I didn't follow threw. He did get me in contact with the mortgage department once, 6 month prior but a buddy of mine at Wells Fargo said I should wait a few months to refi, the rates will drop more.

So instead of getting me the number or a contact he thought it be best to hang up. Well that was the last straw for me, I am in the process of moving all my investments to another firm, refi with another bank, moving my business and personal checking to a third bank.

If your looking for a bank to have a trusted, loyal, engaged relationship with Bank of American, specifically merrill-lynch is not the company for the job.

Posted by Anonymous

Merril Lynch of Ft. Wayne Indiana was responsible for thr distrabution of my fathers estate who was good client of thiers for many decades.
I live in Brazil and they informed me that they had no capability to make an international wire transfer of my funds into my account with the Bank of Brazil.
So they then sent me a check in the mail made out in US Dollars, which we do not use in Brazil, of course.
I now have to pay thousands of dollars to process this check because they dont care to help me at all.
With this kind of stone age technilogy anf lack of respect for thier customers it is no wonder that they are going out of buisiness.

Posted by tanooz

The worst financial planner I have ever encountered. Talked a good story but never followed up and then told me to go else where

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Posted by happily retired

Professional and courteous, but most of all they know what they are doing. The team of Greg Croom, Michael Guile and Jonathan Minner had promised that if we stick to our "plan" that they will get us to retirement. Guess what...they did! Love working with my Merrill Lynch team, keep up the great work guys!

Posted by kjm

These guys really are awesome! They deliver excellent customer service. I have had an account with them for more than 20 years, and never had a mistake on their part. When ever I had a question, they were able to answer it fully. Top rate organization! Sorry to see them become a part of BOA, who is one of the worst service companies. I hope BOA learns from Merrill, not the other way around.

Posted by garion00

John Thain might have bought a $38,000 toilet and bankrupted Bank of America in their merger. But their customer service is amazing!!

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