Merill Edge is a stockbroker based in the United States and founded by the Bank of America. In 2008, during the global financial crisis, Bank of America bought Merrill Lynch. Merrill Edge was launched to combine both online investment and the expertise that was present in Merill Lynch. Merrill Edge has stocks, options, bonds, and ETFs on offer. The company is considered safe since the company that owns it is known for its excellent reputation and track record. Its financials are regularly disclosed and top-tier regulators oversee its operations. let’s know more about How To Delete Merill Edge Account
If you no longer operate your Merrill Edge account, it is always advisable to get rid of it to protect your vital information. Old, inactive online accounts are easy targets for hackers. If such accounts are left open even when they are not in use, the information in them can be stolen and used in identity theft. This is because the financial institutions do not allocate resources to monitor these accounts. You could delete your Merill Edge account by using the website or the phone app. You could also call the company to seek assistance in helping you delete the account.
Steps in How to delete Merill Edge account?
If you have made up your mind to delete your account at Merril Edge, the first thing to do is to reach out to your company authority or broker. However, if you are not satisfied with the services provided by your broker, you can contact a branch manager. Two numbers can be used to contact a representative; 1-8777-653-4732 for calls from the U.S and 1-609-818-8900 for calls originating from beyond the U.S. You should have your account details at hand because you will be required to provide them to process the closure of the account.
- Use your login details to access the Merrill Edge website.
- Clear your trading positions by selling them.
- Move the cash from your Merrill Edge account to an account that has been linked before.
- Let the broker know of your intention by using the IM system.
These steps can also be completed using the app. Take note that closure fees might be charged depending on the selected account type.
Other information about deleting my Merrill Edge account
If there has been a long period between when last you used your Merrill Edge account, there might be some important details that are useful in helping you close the account by yourself. Whether you’ve made use of the IM platform to lay your complaint or you called in directly and spoke to a representative, it is important to remember the phone number you used as your contact number when the account was being opened at first. If you’ve recently switched numbers and you are unable to remember the old one, it might cause some problems while trying to close the account.
Other ways of deleting my Merrill Edge account
If you intend to delete your account, some of the information that might be of great help are:
- Passwords: Password managers are used by a lot of people to store their passwords. If you’ve used one, you could easily enter it and retrieve the details of the account you wish to delete. You can then use the retrieved details to log in and delete your Merrill account.
- Email address: You might also have taken a step to secure your log-in details by saving the details in a draft of an email.
- You might also be able to recover your password if you remember the email and phone number you used to register. You can do this by going to the Merrill Edge website. Below the boxes used to provide your login details, click the “Forgot Password?” tab.
Conclusion
Merrill Edge has been hailed as an easy-to-use platform for trading. The fact that it was a creation of the Bank of America, one of the largest banks in the United States also lends credibility to its prestige. Merill Edge is also known for offering low fees and a seamless, easy way to open accounts. Its portfolio also involves a secured way of doing business. Although, the company offers few products and withdrawal options.
Frequently Asked Questions
Does Merrill Edge offer traders the option to trade in cryptocurrencies at the moment?
No. Merrill Edge offers no platform for traders to trade in any cryptocurrency or products such as Bitcoin trusts.
Does Merrill Edge offer fractional shares?
Although fractional shares are currently being adopted by a lot of brokers, Merrill Edge does not toe this line. This is taking into account the benefit of it offering investors who have little capital the opportunity to diversify their portfolios.
Does Merrill Edge charge a commission for ETFs and stock trades?
There are no commissions on ETFs and stock trades.
Does Merrill Edge charge commissions on options trade?
No. However, a fee of $0.65 is charged per contract.