LondonUSTrader
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Sometimes I move to different countries.
Normally this is not a problem. Most brokers simply accept your change of address notification without giving you further hassles.
However, I have now discovered that optionsXpress behave in an outrageous fashion if you move to Australia/New Zealand.
As optionsXpress have different regional offices if you change country they forcibly remove your account from one jurisdiction to another. When this first happened to me with my account removed from optionsXpress, America to optionsXpress, Europe this was not a problem. I was required to do nothing the account just came under a different to jurisdiction.
Yet, now I have moved to Australia/New Zealand they have imposed ridiculous new conditions on my account as if I never had any dealings with them in the past.
Despite having an account with options express for years suddenly I'm required to provide the following information:
“As you are now moving under the Australian office, we will require you to re-sign the application to complete the movement of your account.
Please print the attached application (please note you will need to enter your place of birth to access the file) and post back to our offices with a copy of your New Zealand Passport or Drivers License (if your passport is issued by another country, we will need to see evidence of your permanent residency or visa for New Zealand) we also ask that this is certified (i have attached a list of persons who are able to certify your document).
Finally, we ask that you provide a utility bill showing your new address.
Please post the signed application, certified ID and a copy of a utility bill to the address below. Once received your account will be fully updated.”
I should add this transfer between their offices was not at my request and no other broker or bank I deal with have required such information simply because I have moved.
Shame on options express for dealing with long-standing clients in such a fashion. Shame on Nicola Quinn, Team Leader Accounts Administration, Australia who wrote such a shameful email.
Beware optionsXpress unless you never move countries. This has certainly led me to reconsider whether I will continue to deal with options express in the future. Before this happened I used to think they were a good broker, lesson learned!
Normally this is not a problem. Most brokers simply accept your change of address notification without giving you further hassles.
However, I have now discovered that optionsXpress behave in an outrageous fashion if you move to Australia/New Zealand.
As optionsXpress have different regional offices if you change country they forcibly remove your account from one jurisdiction to another. When this first happened to me with my account removed from optionsXpress, America to optionsXpress, Europe this was not a problem. I was required to do nothing the account just came under a different to jurisdiction.
Yet, now I have moved to Australia/New Zealand they have imposed ridiculous new conditions on my account as if I never had any dealings with them in the past.
Despite having an account with options express for years suddenly I'm required to provide the following information:
“As you are now moving under the Australian office, we will require you to re-sign the application to complete the movement of your account.
Please print the attached application (please note you will need to enter your place of birth to access the file) and post back to our offices with a copy of your New Zealand Passport or Drivers License (if your passport is issued by another country, we will need to see evidence of your permanent residency or visa for New Zealand) we also ask that this is certified (i have attached a list of persons who are able to certify your document).
Finally, we ask that you provide a utility bill showing your new address.
Please post the signed application, certified ID and a copy of a utility bill to the address below. Once received your account will be fully updated.”
I should add this transfer between their offices was not at my request and no other broker or bank I deal with have required such information simply because I have moved.
Shame on options express for dealing with long-standing clients in such a fashion. Shame on Nicola Quinn, Team Leader Accounts Administration, Australia who wrote such a shameful email.
Beware optionsXpress unless you never move countries. This has certainly led me to reconsider whether I will continue to deal with options express in the future. Before this happened I used to think they were a good broker, lesson learned!
