It took about three weeks total for Stockpile to transfer my money to Fidelity after I initiated the transfer. Getting the transfer through was a drawn-out nightmare.
Things to know:
1. When you call them, you will get a recording saying they have high call volumes and it will tell you to email them and then it will hang up on you.
2. Most of my emails were not responded to UNLESS it was about purchasing stock.
3. When trying to transfer my stock funds to Fidelity, the money did not move. It kept sitting in Stockpile but not earning anything, saying: "money unavailable."
4. When I tried to get help with this non-moving transfer, they did not respond to my chat or emails until I resorted to putting things like "DISTRESSED." and "PLEASE HELP ME." in the headers.
5. When I eventually got a manager, he told me because I had bought stock with a credit card it would delay the transfer because I would have to pass a review by the "fraud dept." He asked me to send copies of my credit cards, social security card, and driver's license. I did. The money still did not transfer. NOTE: They did not contact me to say: 'We see you want to transfer, so we need to collect data from you for a fraud investigation...' Instead, they just let my funds SIT, not earning and not transferring.
6. I finally succeeded in getting the manager on the phone again and he said: "You never sent us the info (CCs, SS# DL)." I forwarded him the email I sent it in the week prior. He said, "That's strange, for some reason we missed this and we can't open it." So I uploaded it by a different method while he was on the phone with me. Fifteen minutes later, the manager emailed me saying, "Transfer approved" and he put in his note, "See, once we got the documents we moved on [my transfer] in 15 minutes. Your transfer will go through in 2-3 business days." I thought my nightmare was soon to be over, but NOPE. Four days later, the funds had not budged. I checked with Fidelity, and they saw no transfers pending.
7. So I go through it AGAIN, begging with email and delayed chat for the manager to call me or email me about the matter. He does NOT. However, he DID change the initiation date of the fund's transfer to THAT day's date, erasing my ability to see the real day the transfer was initiated, not cool in my book, but oh well.
8. The funds were then transferred to Fidelity the NEXT day, so that 2-3 business day thing seems like it's that long if they want it to be that long. Maybe he rushed it through because of the delays I had been through...only he knows.
If it is Stockpile's policy to put people who pay with a credit card through the fraud department when they transfer/sell, then I wish they would say that on their website so customers can decide if they want to go through that "fraud department." I think that manager was my "fraud department" with a 15-minute turnaround.
I personally was distressed about the inability to speak with someone about my money and at the slow and irregular pace at which this company executes transactions. This is why I wanted to move my money to Fidelity.
To anyone stuck in a Stockpile nightmare, I have felt your pain. Just stay on it via email and delayed chat each and every day until you can get your money to wherever feels safe and reputable to you.
In closing, do I think Stockpile is trying to steal people's money? No...but there were days I worried about that. Do I think Stockpile cares about giving you decent service when you are trying to leave Stockpile? No. I have never experienced anything like this from a business. The manager DID call me on two separate occasions. He was condescending at times. To be fair, I was terrified about getting my money, and he did not empathize too well with that.
On the positive, I'm sure he is the one person who EVENTUALLY got my money to Fidelity. For that, I thank him.
Bottom Line: No, I would not recommend this to a friend
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