Equity Trust provides account management services primarily for investment accounts and charges an Annual Maintenance Fee based on the total market value of the account. These fees are billed once a year, usually starting mid-January, with payments due by late March. Customers might see billing from them because they manage or maintain investment accounts and charge fees for these services. Payment options include automatic payments, online portal payments, one-time ACH payments, or phone payments, and there's an option to avoid paper statement fees by opting for electronic statements.
Difficulty
12345
678910
Easy
Medium
Very Hard
Multiple customer complaints reveal extensive delays, lack of communication, and convoluted procedures when trying to cancel or close accounts with Equity Trust. The process often requires repeated follow-ups and escalations, indicating a high level of difficulty for consumers to successfully cancel their subscriptions or memberships in a timely manner.
Estimated Time
On average, it takes
30 days
00
00
minutes to cancel a Equity Trust subscription.
How to Cancel Equity Trust: Step by Step
If you purchased through Equity Trust directly:
- Access the Digital Asset Platform at myEQUITY.com.
- Log in with your account credentials.
- Navigate to Investment > Digital Currency.
- Liquidate your digital currency as it cannot be transferred or distributed.
- Note the liquidation fees: Digital Currency Sale Fee (1.0% of Sale) and Liquidity Cost (up to 1%).
- Submit a distribution request after liquidation on myEQUITY.com.
- Initiate a transfer request to another provider if applicable, completing necessary actions with both Equity Trust and the new provider.
- Contact customer support at 855-713-1346 if assistance is needed or for specific account inquiries.
- Be aware of the $250 termination fee, which is waived if the account is closed by November 8, 2023.
Tips & Tricks for Canceling Equity Trust
- Be persistent and patient: Closing accounts or cancelling memberships can take months and require repeated paperwork submissions.
- Prepare extensive documentation: You may need to provide proof of account closure, bankruptcy, or legal evidence related to your investments.
- Expect ongoing fees: Annual maintenance, paper statement, and late fees may continue even after requesting closure.
- Monitor bills closely: Unauthorized charges may occur; be ready to dispute charges or cancel credit cards if needed.
- Insist on updated paperwork: Equity Trust may require additional forms granting access or permissions to close accounts.
- Communicate clearly and firmly: Use direct language to demand confirmation and account closure. Document all communications.
- Watch for poor customer service: Expect inconsistent responses, call disconnections, and unanswered requests.
- Request removal from mailing/email lists: If ignored, escalate until Equity Trust confirms removal.
- Escalate as necessary: Use Better Business Bureau complaints or legal counsel if regular cancellation efforts fail.
- Timing matters: Submit cancellation requests early in billing cycles to potentially reduce fees.
- Avoid giving reasons for cancellation: Keep your communication simple and avoid engaging with retention tactics.
Equity Trust Customer Service Info
If you need assistance, here's how you can get in touch with Equity Trust's support team.
Cancel Equity Trust Script
Script
Copy
Dear Equity Trust Team,
I hope this message finds you well. I am writing to formally request the cancellation of my subscription/membership with Equity Trust. Due to recent changes in my financial situation, I believe it is in my best interest to discontinue this subscription at this time.
I appreciate the services you have provided thus far and would like to ensure a smooth cancellation process. Please confirm once my subscription has been canceled and let me know if any further information is needed from my side.
Thank you for your understanding.
Sincerely,
[Your Name]
Frequently Asked Questions
Equity Trust's cancellation policy includes the ability to opt out of any program at any time by replying "STOP" to mobile messages from the program. Additional confirmation may be received after opting out, and only the "STOP" command or verbal requests are valid for cancelling. Users are responsible for notifying Equity Trust if they stop using or transfer their mobile number to avoid costs and liabilities. There is no explicit information on a membership or subscription bill cancellation policy found on their website pages examined, but the opt-out instructions pertain to message program cancellations.
To cancel your subscription with Equity Trust (eph-law.com), you will need your password because they verify users by checking the password when accessing the Online Portal. They emphasize the importance of keeping your password confidential and assume liability for transactions authorized with it. If you do not remember your password, you can reset it using this link: https://myequity.com/myequity/recover. This will help you regain access to your account to manage or cancel your subscription.
- Unexpected or unauthorized fees being charged, such as fees for withdrawals or paper statements without prior consent.
- Difficulty closing accounts, including delays in closing and continued billing after funds are transferred out.
- Poor communication and customer service, including inability to reach supervisors or the CEO and lack of transparency about fees and policies.
- Delays and problems with rollovers or transfers, such as rollover requests into 401(k) plans being ignored or delayed.
- Issues with account value reporting and unauthorized credit card charges related to accounts supposedly having zero market value.
- Problems accessing online accounts, creating frustration for customers trying to manage their investments.
- Concerns about precious metals storage and shipment, including delays, damage during shipment, and dissatisfaction with replacements.
With Equity Trust, be aware that canceling your subscription or terminating your account comes with fees—specifically, a $100 partial termination fee per asset and a $225 full termination fee. While users can technically cancel, these fees and potential contractual terms act as deterrents to immediate cancellation, so it's important to factor in these additional costs before deciding to end your subscription.
Before cancelling a subscription, membership, or bill with Equity Trust, it is important to know that Equity Trust acts as a directed custodian managing your IRA or other self-directed accounts but does not provide investment advice. Cancelling your Equity Trust account means losing access to features such as account statements, IRS tax reporting (Form 1099, 5498), transaction history, cash ledger, portfolio positions, and real-time transaction notifications through their myEQUITY platform. Additionally, you are solely responsible for compliance with IRS rules, and if you cancel, you must ensure proper transfer or rollover of your assets to avoid penalties or tax issues since Equity Trust does not monitor rollover deadlines. Also note that investments held are not insured against loss, so cancelling could involve risks linked to how your investments are managed afterward.
- Full Name of the account holder
- Account Number or unique membership/subscription identifier
- Contact Information (phone number, email address, mailing address)
- Reason for Cancellation or Account Closure (optional, but sometimes requested)
- Signature to authorize the cancellation (may be required on a form or via email/fax)
- Submission of a specific closure/cancellation form, if requested by the company
- Photo ID or Identity Verification (typically upon request or for accounts managing financial assets)
- Date of cancellation request
- Any outstanding balance settlement or payment method details for final charges (if applicable)
We've actually written a step by step guide on how to get a refund from Equity Trust. Check it out!
The Easiest Way to Cancel Equity Trust
If you’re frustrated trying to cancel your subscription, membership, or bill from Equity Trust—or if you didn’t even realize you were being charged—Chargeback can help. Chargeback is a personal subscription manager that automatically detects hidden, recurring charges like Netflix, Hulu, and hundreds of others. With one click, we can cancel unwanted subscriptions, flag suspicious billing, and even initiate refund requests on your behalf. No more waiting on hold or navigating confusing help pages. Just connect your bank or email account, and we’ll take care of the rest.
Start reclaiming your money today with Chargeback
What Are Some Alternatives to Equity Trust?
Annual Maintenance Fee, Paper Statement Fee, Late Fee
Editorial Note: These articles reflect the opinions of Chargeback's writers. Everyone's situation is unique; therefore, it is important to conduct your own research and note that our self-help tools are not guaranteed to help with any specific problem.
.svg)
.svg)
.svg)
.svg)
.png)
