Charles Schwab & Co. Reviews

Charles Schwab & Co.
Charles Schwab & Co.

Charles Schwab & Co. Online Insurance Reviews

I can't get a my money back from Schwab around 2 months already! Schwab's reason. My printed name and signature on the same line. After I fixed it they always looking for new reason... Example team which consider action, give money back or not, is not ready for consideration or you have SSN good but why you don't have foreign I.D number... I need this money to pay my mortgage in US. Probably I will lose the payment. This company not suppose to work with customers in area of FI.

I traded a stock based on Charles Schwab research information. I was charged 6% over the bid and 3% over the highest given daily stock price based on info given from the Charles Schwab website. It was an instant $600 loss when I submitted the purchase. When I called to inquire, they offered a $50 credit to my account. ***My bad I guess but, don't trust the information provided by Charles Schwab and don't ever perform a "market order" on a stock purchase because they can charge whatever they want for a stock without asking you if you still want to buy/sell it. This could easily wipe out an entire account on one trade.

Brandon left me a message that I could no longer have a short position in TSLA (200 shares) and they would be closing out the short on Monday the 14th of October. Well, Tuesday, I see that I still own the shares and have to cover short during a strong rally for $188 a share. Needless to say, the shares are trading at about $172 a share today, October 21, less than a week later. Thanks a lot, Schwab. Nickel and dime nonsense. Look elsewhere in my opinion.

Our relationship with Schwab initially started probably around 2002. At the time, my husband and I being employed and very busy, just pretty much followed the advice in the Private Client program although we both I would consider, have above average knowledge about investing in general.

In 2011 we decided to make a change because yes, one of our complaints, was the inconsistency in who was managing the portfolio and possibly our inability to communicate that we are not risk adverse and didn't consider jumping off a building in 2008 :). For some reason, and I am still not sure why, the local branch account manager who is not the "brains" for managing the portfolio, because that is how Schwab is organized, somehow started making investment decisions for us. This is going to sound like a complaint now and it is. He put us into a Lehman Brothers bond less than 2 months after my husband retired and transferred his retirement assets to Schwab. Let's just say it was over 30% of the money in his retirement savings. He also added some bonds to my IRA and while not as much, I lost it all in 2 of the bonds he recommended - don't even remember the names right now.

No conflict of interest here at all but the first (maybe 2nd) person that was our Schwab advisor was the person that did very well for us and we also had the best relationship working with her. I found her on LinkedIn and we transferred to Ameriprise where she is working and it was a BIG mistake - financially due to the fees and because this was not the same person that did such a great job for us before. I do feel we owe her for teaching us many things, including options and she did make a few great recommendations but most were not good or she should have advised us to sell. She wasn't watching the account and in 2013 which was a stellar year for the stock market, our returns, considering the risks we were taking, was under 9%. The only reason we did that well is because of the investments that transferred from Schwab - once we were assigned an authorized planner again before leaving. Lessons learned - we could be in much better shape now.

We transferred back to Schwab in Oct. of last year. The reasons? I have always used their research tools which to me are the best in the industry. Plus we still had a bank account (gotta love it - they reimburse you for all ATM fees) and kept open a very small joint account.

This time around, now that we are not in the accumulation phase but in wealth preservation, we are paying attention and with the advice of our new planner, I am trying to clean up the mess that was created in my IRA. I am still too young (and fortunately don't need) to withdraw any of my retirement accounts. We have a great person at the local branch that explained all the services available to us that we were never told about before. He is the one that will if we are not happy with our planner (but we are) will make a change and recommend either a different program or planner. We have a bond specialist that explained bonds because we didn't really understand them (another big lesson learned). We have an options specialist, and many others that support us and never once have I spoke with anyone who wasn't pleasant, made sure if they couldn't answer my question would get someone that could immediately.

The local branch account manager understands his role and doesn't try to do what is outside the scope of his job. I truly feel like a valued client while of course, the team we have has to comply with the corporate policies that personally isn't something that I like but coming from "Corporate America", I understand. However, we are free to take the advice or not and make our own trades - all included commission free as part of the Private Client program. Plus the fees are less than 1/2 what we paid at Ameriprise!

I read many of the issues people had, and while I am sure they are all true, I personally can say that nothing but good has happened since our return to Schwab. I am not typically a review writer but felt compelled to do this since this is a very important topic for us and probably to anyone that took the time to write on this site.

I have a managed account with Schwab and could not be happier. The website is easy to use and withdrawals are quick and easy with only a short security delay. Security is strong, with immediate notification of any account actions taken. I have dealt with several other firm, I found Fidelity to be good but I would rate Schwab equal or better. Vanguard is a nightmare.

I keep getting locked out because of their vocal recognition password and web password system 5 times in a row. I have to call support to get it fixed with apologies from their technical dept. Ever heard of the saying "The Front Line Doesn't Lie?" Well their tech line says they have had a lot of upset clients because of their password system failures. So to continue, I wanted to sell all of my shares about 300k worth. This was a time sensitive issue and I tried my web access and of course it read that I was locked out and needed to call tech support again, feeling defeated once again.

I thought I would just call in and make the phone sell order request with one of Schwab's support personnel in Denver. I got a lady on the other end and I made my request clearly and she acknowledged and understood my request. While I thought she was completing the task we chatted about the stock and how I had such trouble with my password lockout issues, etc. The phone connection went dead. I assumed that we were all done anyway. I never received a callback so I felt we were good with the transaction. The next day I checked my shares and nothing was sold, so I called back and was told the transaction was never processed.

I requested for a manager to call back, he did call back and told me that after reviewing the taped call he acknowledged that their client agent acknowledged my request to sell all of my stock but did not go thru with the sell request and furthermore he had no idea why I did not get a callback, which they say should have happened. He said that he could not honor my clear instructions to sell my shares. I will tell you that he was very apologetic and acknowledge that there was no misunderstanding in what I wanted but he could not go back and fix it. He said that it was just not possible. He said I had nowhere to go with this issue.

So it cost me 100,000 dollars for their mistake as the shares were declining rapidly, hence my call. I have been a Schwab client for 30 years with a substantial amount of money invested thru them during this 30 year relationship. I am looking to see if I can get some legal help at this point because I feel I have been treated unfairly and with prejudice. So others out there please beware, other blogs that I visited have reported many of the similar complaints about password issues and phone selling complaints.

They are unbelievably terrible! I've been trading for over a month and I try to get a high yield checking account and they all of a sudden cut me off from trading! They claim something in my "Chex system" report came back negative! I recently got a copy because I like to review my reports and nothing negative was on there! I will NEVER do business with these guys and I will tell everyone I can about my experience. They are complete disaster!!! And I already do business with all of their competitors and no issues. They are a horrible company to pull a stunt like this after a month!

I started opening my account in Charles Schwab from abroad (Germany) in November 2017, went through all the hell with voice calls to the US and a fax to the US (have you ever tried to send a fax to the US from outside of US?). When I opened an account, I warned them that I'm moving across the world and may move to another country in the next year - they said: "not a problem". Then in January of 2018, I left Germany and initiated change in my address and tax residency (by Germany law I immediately lose my German tax residency after I leave it).

I had several round-trips in emails about how to do this, got several physical mails to my old address in Germany (where my former landlord was so kind to resend mail abroad to my new address) and to my new address. Then eventually in the beginning of April 2018, they changed my address and tax residence. And then in 3 days, I got a mail that said that they decided to close my account. Really? I spent many days due to lack of service (only voice calls or fax) and several hundreds of dollars. And now they just changed their mind... Without any reasoning. Has never had a worse experience with brokers or banks.

I have had many problems with banks; since I started using Schwab I am a trouble-free banking customer. I recall how livid I was in the 90s when Washington Mutual would not refund my $470 Christmas money IBM.NET stole from me... Well they told me to go to my bank so I really feel like Washington Mutual owes me... Well "never again". I know Schwab is a real bank and they will back their real customers.

Please Beware. Charles Schwab & Co. will do a hard inquiry on your credit report when opening up a checking account with them! I was really upset to find out through a fraud alert on my phone. I called with my concern, only to be transferred several times, and treated very rudely by an overly arrogant man! He claimed that he had no knowledge of the impacts a hard inquiry does on a credit report. No apologies for my concern, only a bias and arrogant response! There are too many other great investment firms for anyone to tolerate self entitled arrogance.

Account was frozen because of the Patriot Act. They have a special department and number. This department is the only one that can unlock the account. After 3 phone calls on hold for 1/2 hour, hung up each time. Left messages each time no return calls. Finally went to local branch and got off old after 45 minutes there. Poor customer service, nobody cares, typical answers "Not my department", "In another location", "Sorry cannot assist you", "I will forward you frustration on to my manager" blah, blah, blah. Stay away from Schwab.

My daughter went into the Pittsburgh branch office to liquidate an account to be used for tuition. We wanted this to happen before year's end. Everything was completed, or so we thought. A week later, we were notified that they require a driver's license. She gave them a copy; still not completed. Last day of the year, we were on the phone and ensured that this will be completed. Now we were told it didn't happen until the 4th of January. Not only have we lost money because of the late trade processing, we now face new tax implications. We have never received a call from the branch manager or has he ever been there to accept a call from us? Frustrated.

I needed $2000.00 for emergency purpose from my liquid Roth Account (I am over 60 years old) - this was required for the 2nd time in about 9 months. I thought I had checks on hand because I was told it would be mailed to me for future use. I made a call to them immediately, only to be told check access was not an option. He promised to mail form to link my outside account, and I would have the check on Tuesday because I need it in my Account for Wednesday. I also requested the envelope be left without signature required because I do work long hours.

It is painful to express my experiences with the workers at the call center and even the local branch. I am writing this complaint because it is Saturday morning and I am still without the funds, because the package required signature and they did nothing to help. I had to call the local branch and request a check in the regular mail. I do hope this was done, if so I should have it here in 48 hours. I will be moving my account, I only hope these representatives wasn't thinking I wanted to rob them $2000.00.

I have worked with Merrill Lynch, Fidelity, and other investment companies who handle 401K accounts for my employers. I HAVE never had so much incompetence as I do with Charles Schwab. If you are applying for a hardship withdrawal or even a loan, obviously expediency is needed. I am now on my 20th day of waiting for my loan check. In previous encounters, it took 3 weeks to get a hardship withdrawal (different accounts and multiple layoffs). With the other companies, I had a check within a week. This company took a week to get me the paperwork to sign. They received my information two weeks ago via priority mail. This is the technology era, it shouldn't take THAT long to process a check. And I live 3 hours from their corporate office, so even snail mail will get here overnight. Why does it take this company so long to process my money???

I began this ordeal on Aug.27th 2014. The idea was to have more control of my 401K. The liquidation of my 401K funds and the transfer of those funds to my PCRA account is still on going. My emails have gone unanswered for 4 days at a time, twice. My 401K contributions are still going into my 401K, not to my PCRA account as I had asked. My FA told me that this should take 3 to 5 business days. It has now been 3 weeks. How much money have I lost during this transition? Who do I see about that?

I recently opened an account with Charles Schwab because I wanted to get into trading. The account was opened and I transferred funds into the account. A few days later, while attempting to make a stock purchase, I received a message through their app stating that my account had been restricted from purchasing stocks. I called to get the issue resolved, thinking there must be some mix-up, and was told that they're closing my account because of my credit history. Well, if falling into hardship due to a crisis in the economy probably caused by these dick takers is a reason to bar people, across the board, from investment opportunity, then screw these nuts! I can't tell you what to do with your money but I wouldn't support people who'd prevent someone from making a purchase for such nonsense unless you're certain you'll never getting laid off and land in financial disarray yourself. Charles Schwab, ** you!

DON'T get a Charles Schwab Debit Card and think you will have any fraud protection. The company is extremely crooked. I traveled to a foreign country and attempted to make a $400 purchase is a store. The store owner was crooked and after swiping my card through her reader twice told me that the machine wasn't working to print me receipt. She had me sign a scrap of paper that was barely readable.

A while later I was shocked to see a charge of nearly $1500 on my debit card. I notified Schwab who obtained records from the merchant. The merchant two credit card receipts for the amount with a forged signature that wasn't anything like mine. The merchant also sent a phony itemized list with the same phony signature. Decided that the charges were authorized merely because I was there. Apparently Schwab decided that merchants cannot commit fraud, of a customer is present. They asked me why I did not have a receipt. Of course the merchant refuses to give me one. (Why would he give me a receipt when he was planning to defraud me?) Schwab Bank and their fraud protection is not to be counted on or trusted.

I have been with Charles Schwab for years, since 97? Until the last 6 years, I did my own quite passive investing, index funds and what not. Consistently mediocre returns. So, I decided to go the managed portfolio route... over the past 5 years. Again passive involvement (3 phone calls in 5 years) with really just moderately aggressive initial direction provided. Over 5-year span, I had a 3.8% return annualized return. So, no, not satisfied with Charles Schwab. Recently jumped ship. My exit talk with adviser was interesting. Older fellow obviously very intelligent and experienced but perhaps just too smart for my own good.

Apparently, 5 years is just too short-term and no downturns in this span, so I was told it's all a matter of timing. I'll note that my asset allocation did not seem to even correspond to benchmarks compared with on research investment tools on Schwab site. My returns Underperformed these Schwab benchmarks and well underperformed other benchmarks, e.g. at Merrill Lynch, in my post-mortem study. Good riddance, Schwab.

I have been doing business with Charles Schwab & Co. for decades with limited problems. However, in the past couple of years, as the firm has been flooded with lawyers, nearly every account opening or other paperwork I have attempted has been delayed or hindered by paperwork impediments. The latest is their refusal to reimburse me from my son's custodial account for educational expenses I incurred on his behalf. I want to do business only with those firms who know and trust me.

I recently moved to a new city and noticed that I was not able to pay for an online item with my credit card. Because I often travel, issues like this are very common-- however, this time when I called Charles Schwab to help me solve the problem I was told that there were discrepancies (and were not allowed to tell me what these were) and therefore they could not verify my identity and couldn't help me further.

The representative suggested I go into my local branch to show a photo ID-- can't, am out of the country. Then suggested a phone number that only works on the weekdays-- problem is that I am now without a credit card for the next two days. While I appreciate that Charles Schwab is making an effort to prevent fraud, it is extremely frustrating that I cannot use my credit card during this time-- especially because these first few days of moving to a city are when I need it most. On the whole I have had very good experiences with Charles Schwab, however, an experience like this makes me very nervous to depend on Charles Schwab.

On my first occasion of purchasing any stock I called and spoke with an advisor. He explained to me how the different ways of purchasing stock works. He then asked me what I was considering buying, and laid out exactly how it would play out. He gave me the option of me going online to do it myself, or he could do it for a small fee. I chose him to do it and he waived the fee! Even after spending time to educate me, he did it complimentary. I felt comfortable and empowered.

Here is real trade example from Schwab International account: 1. Acquisition of 1500 shares ASNS on 02 Jan 2019. Security Description: ASNS Arsanis Inc. Action: BOUGHT. Trade Date: 01/02/19. Settle Date: 01/04/19. Quantity Price Principal Charges and/or Interest Total Amount 1,500 $2.3492 $3,523.80. Commission: $4.95 $3,528.75. All is OK so far.

2. Sale of 1500 shares ASNS on 03 Jan 2019. [Expected Profit = (Sale price 2.6383 - Acquisition price 2.3492) * 1500 shares – commission 4.95*2) = 0.2913*1500 – 9.90 = 423.80 USD. But I was shocked when received trade statement below: Security Description: ASNS Arsanis Inc. Action: SOLD Trade Date: 01/03/19. Settle Date: 01/07/19. Quantity Price Principal Charges and/or Interest Total Amount: 200 $2.6405 $528.10. Commission: $0.66 $400.69. Exch Process Fee: $0.01. Other Fee*: $126.74. 1,300 $2.638 $3,429.40 Commission: $4.29 $2,602.01. Exch Process Fee: $0.04. Other Fee*: $823.06. 1,500 $3,957.50 $954.80 $3,002.70 - *Includes tax withheld.

Instead of profit after this tax I have a loss of (3528.75 – 3002.70) = 526.05 USD. Explanation from Schwab: The commission charged on your trade was the standard online rate of $4.95. However, due to the W-8 status of the secondary owner of the account having expired on 01/01/2019 and the trade taking place on 01/03/2019, there was a $949.80 U.S. tax withholding on the trade. Per IRS Publishes 2018 Withholding Guidance, the backup withholding rate on certain payments to taxpayers who have failed to provide a taxpayer ID number (e.g., on stock sales in the absence of a Form W-9/W-8BEN) is now 24%.

The questions to Schwab are: 1. As they knew there was no W-8BEN form from secondary owner, why they haven't informed me? 2. Why the tax is deducted from the whole amount instead of the profit? It looks it is more a legal reason to steal money from the foreigners – after several such 'taxations' there will be no money left (I heard such practices exist in countries like North Korea). I still hope it is some kind of error, otherwise it is a clear message to all foreigners – stay away from US (as Trump says: America is first, e.g. for US citizens).

I have been using Charles Schwab for about 20 years and never had any problems until today. I used my ATM card at an ATM that had previously been compromised, without knowing. Schwab put a hold on my debit card but never contact me. Apparently this is how they deal with compromised activity. Unless someone actually uses your card/account fraudulently they will not contact you in any way. This is actually their policy. So after checking my account online many times and not seeing any warning or anything, I try to use my debit card and discover the account is on hold (it was on hold for 2 weeks at this point).

The representative I spoke to at first told me someone tried calling me and perhaps my cell phone didn't get the message - all false, no one called. Then I was told I need to wait for a new card to be mailed to and that my "voice is being heard". Well, since this is an "awesome" travel card, I would urge people to look at opening a different bank account, one who contacts their customers when they basically cancel their debit card. I couldn't imagine if I was on vacation or traveling and this happened. Any other bank contacts their customers when they touch their account.

The consultant Raj from their Edina main office was not capable to open accounts since 5 weeks as he did not know how. Then he instead of putting some funds in a traditional mm account he purchased mm funds. On those he in writing quoted a different interest rate that it pays - and it fluctuates. Quoted me a different yield on my T bill purchase. After speaking to Chris ** in their corporate office I was belittled and due to the fact that I have a German accent. Told me I misunderstood (I have all in written form and on tape). Borderline discrimination. Disgusting. They will lose my accounts and get sued to the fullest extent the law allows me.

No matter what the issue, Schwab acted at least fairly. Usually they went beyond what I would have expected and left me positively happy. And always the Customer Support I dealt with were very, very helpful and knowledgeable people. So much so, that I actually enjoy calling them. The website is not perfect, but I can live with it. My major complaint is Schwab has no P2P online payment. But then many, many banks don't have that feature. Experiences with other brokerage houses have been awful and close to dealing with crooks. Schwab seems to be on the customer's side rather than trying to bleed them.

In November 2011, Schwab offered cash bonuses for customers who transferred assets to Schwab from their accounts elsewhere. I transferred about $54,000 in assets from my Vanguard account in order to consolidate accounts. I was careful to make the transfer well before the closing date to qualify for the bonus of $200. Despite numerous conversations regarding this transaction and their agreement that the $200 is owed to me, and assurances that it would be deposited to my account, nothing has happened. I get assurances from the account executive, Eric ***, and from the branch manager, Richard ***, that this will be taken care of soon. However, nothing happens.

I opened a checking account with Charles Schwab and after depositing some money and making some stock purchases it got restricted. I called to find out what was the reason for my account to get restricted and I was told that it was because of some information from my Equifax report. I was told to call Equifax and find out about details. After calling the credit agency I was told that everything was good with my status and they didn't know why my account would get restricted. I called Charles Schwab again and was told that my account was closed and that it was a business decision. I asked about details but was told that they are not allowed to discuss it with me and that the decision was final. I have no problem moving my assets elsewhere, just thought I would let everyone know to avoid this company. They also did a hard pull on my credit report which cost me 4 credit points. Thank you for your business Charles Schwab!

Charles Schwab is not a choice for me, as after a few months I closed the account. Why? Having invested for close to 50 years they would not allow for me to purchase call or put options! They would not even allow me to sell covered calls! Their website has serious flaws. For weeks I kept getting the guide to Schwab introduction box, no matter what I did. Each time I logged in there was that dialogue box, time and time again.

After fixing the above mentioned item, next came the security dialogue box, requiring me to enter a text code from my dumb phone. Even after THREE CALLS to their "tech" support, the issue was never fixed on a permanent basis. Oh, I should also add, that Charles' trading platform is really nothing special. The only plus I can give them was their local office, which was very efficient and helpful with setting up the account.

I opened a brokerage account with Charles Schwab. I opened Feb 12, 2018. My Scottrade account was closing due to merger so I setup transfer of shares to new brokerage account Feb 15th. The most recent communication I received from Charles Schwab was that it would be completed by March 5th. I attempted to open a checking account to deposit more funds via direct deposit. Next notice was that it was completed but I was unable to login to verify. I tried resetting password but no password reset link was emailed. I called today and was told my brokerage account was closed due to Equifax report pulled when I attempted to open a “savings” account?

So my shares are to be mailed in a check to me or transferred back to my old (closed) brokerage account with Scottrade (who is no longer active). The lady Jeanne I spoke to was rude and snob saying it goes by delinquencies on my credit report (my credit is decent) and it’s all the documentation I signed. They told me I can not open any account with their firm. I think this is a thin veil to discriminate against certain customers. That or they are operating a scam because my balance is less than what was to be transferred. I don’t like how this firm operates. I never received any notice. They closed my account and sold my shares.

If you ever have a problem with your account; you will find them to be very arrogant. I made written requests regarding my account and they ignored these requests repeatedly; requests which I had no problem with other brokers. I have closed both accounts and moved to Tastyworks. I have no such problems with them; great broker.

I opened an account with Charles Schwab & Co. and received all the paperwork in the mail, spoke with a broker and deposited thousands of dollars into the account. A few weeks later I received a letter stating my account was restricted and was being closed and that I needed to remove my funds. When I called the branch office and the Customer Verification number provided in the letter I was told because of my Equifax credit report my account was being closed.

First off, don't you guys read the news? Didn't Equifax just get in a bunch of trouble for a security breach? Why are you using them or trusting their reports? Why would you close a cash account that Charles Schwab makes money on when trades are placed? I wasn't asking for a line of credit. No wonder they can't pay their dividends on time, they drive away cash customers. Whatever COO thought it was a good idea to run credit for a cash account and then close an open, good standing account should be fired. You are driving paying customers away.

I have 2 other brokerage accounts and neither have I had this issue with. Clearly this is a scam. They probably used my brokerage dollar amount in my account to show they had "x dollars" in active open accounts for their financial statements and then dump the account a month later. Meaning what Charles Schwab is posting in their financial monthly documents at any given time is not accurate, it is actually inflated to look better than it really is.

If you needed to run my credit before I opened an account then you should have run my credit when I opened the account before you took my money and told me I could place trades. You could have found out on day 1 my credit wasn't to your company guidelines. Why wait almost a month to tell me, unless you are using people's funds to lie on your financials. Great scam. I'll make sure not to buy any publicly traded securities that you are invested in. Not to mention I like how when you Google Charles Schwab they have their own web page at the top that says they have a 4.7 star rating and 1,755 reviews, but when you check other places like Consumer Affairs they have a 1 star review. Seems like Charles Schwab is deceptive all over.

I placed an order for 10 contracts of MJN options before market opened. The closing price for the prior day was $.15 and opening price was $.10. Schwab priced the options at $4.50, which caused an immediate lose of $4,500. They blamed it on the market maker, but would not disclose the name of the market maker. This is a fraudulent way to steal your money.

In transferring my accounts to a local office I spoke with Wayne ** in the Portland Koin Center office. I knew how I wanted to invest, but once Mr. ** learned I was a stroke survivor, he treated me as if I was ignorant, feeble and too disabled to make decisions for myself. He interrupted and talked over me - then told me he would not work with me unless I had someone else appointed guardian of my legal matters! His attitude was arrogant and disrespectful. I told him I could put him in touch with people who could vouch for my ability but he told me he was not interested. So I asked he transfer my account to someone else in his office at which point he told me he was finished, that he "did not want to work with me" and he hung up. The entire experience was frustrating, demoralizing and so bad that I would NEVER recommend working with this Portland Oregon Charles Schwab office to anyone. All in all this was a terrible experience.

Me and my extended family had accounts with Charles Schwab for over 20 years. The Day Facebook IPO became Open for Purchase on the NASDAQ, I was Ready for making a big Investing Move. I had 55k In my Charles Schwab Account, liquidated from Previous stock Holdings ready to make a big move for a great Facebook Purchase. Well By the end of the Day, I had Canceled close to 15 Orders. And held no Facebook stock. The Day was Volition and the price hit $41 and dipped to 25-30 if I recall. Me and my Younger Brother spent all day on the Computer as we both were making Purchases.

So I am Leaving our Company we own, and he Comes Flying back in his Truck, claiming our Orders of the day did NOT cancel and there after Hours trading, our Canceled orders were going through. I logged on at 6:20 and Not only was my 55k not in Cash, I had close to 2290 shared of Facebook and stood 90k in MARGIN! I don't recall Exactly but it was Unreal. I IMMEDIATELY sold all holdings and Lost $5,500 that first day. My Brother around the same.

I didn't know why, but the NASDAQ was Overwhelmed. Well Monday, More Orders went through and I was holding $50 in Facebook stock at a loss already. I was Pretty much in shock at this point, had Facebook shares I never wanted as I never got a price I wanted to long holds. So I watched the stock die and at about the 25k level I sold out. It was screwed up. The Reason I am making this post is this.. When I Asked my Charles Schwab advisor Treat ** in the Greensboro NC Branch about these Orders going through, He gave me the Charles Schwab legal Department number to call. Treat is a Good man and I have the Utmost Respect for His as a Person. So I finally talk to the Charles Schwab Legal man on the Phone and explained my Situation, and My intention to take Charles Schwab to court.

This Guy actually said, "well don't you wish you would have Kept the shares" as Facebook went up later. I never wanted the shares. Time went on and losing Faith in Financial Security companies, Especially Charles Schwab I took all the remaining money out of my account. So years go by, and I get a Class Action letter in the mail. Facebook was fined 29.5 Million for Wrongdoing that day. Etc. This Law firm was requesting my records and I had to send this in by Oct of 2015. Well Now I was feeling like Justice was possible and my money could be returned. The forms needed the trades, and Documentation. Well I logged on to my Charles Schwab Account, and guess what. Only 4 trades showed in my History. There were 11-13 Missing Trades. Now I am realizing, The legal guy, or schwab tipped off someone my Legal intentions, and some connection w/ the NASDAQ they erased the Records.

Being a Businessman, I never fell for the E Statements. I have the Evidence on Paper, showing the Trades that now are erased. After going to the Federal Courthouse then the FBI in Greensboro I was Instructed to show all this to the Class Action Lawyers in NY, Finklestein... and company or something. I sent my paperwork to (copies) and we'll it's been almost 4 months.

I think someone there, is in with The NASDAQ and Charles Schwab. What these guys don't know, is I am an American Businessman. And I can't stand Thieves. Also I am now l to private Defense Contracting, so they steal and erase records, from Private Americans who help us Defend our Great Nation. My next Stop is the U.S supreme Court, to File a Suit against Charles Schwab for Fraud, Record Manipulation, and Emotional Duress. After Informing the Pentagon of my Intentions.

Charles Schwab used to be a name I am Proud of, and if you were My Sworn enemy, I'd recommend you Give them all your Money. Mistrust and Deception are their ways now. They should have never Tried to screw A Southern American Man over. It's time all of these Wall street crooks Get Punished. Don't Trust Charles Schwab. They Betrayed me, and Have the money to Bog you down in Court. Word of mouth However, is King. Even the Mighty Roman Empire Fell, and You Reap what You sow. I recommend Edward Jones and Scottrade 10x Over. They don't Sell out their Customers for Silver to the Sanhedrin.

The company I worked for used Schwab for their retirement plan. When I was released on 8/28/2014 I called Schwab to find out what I had to do to get my money out. After all, one must live while they said for unemployment or a new job to kick in right. Schwab told me it's have to wait for the company to send in separation papers. I called the company and seen that they sent the papers on 9/1/2014. I called Schwab again who swears they never got them even though I seen that the company sent them. I waited and called. 2 weeks later I finally get confirmation that Schwab received the papers.

I asked what's the next step. They said to fill out paperwork. Why they couldn't send me those 2 weeks prior so I could start on them is pure incompetence. Anyway I send the papers once I finally received them and received confirmation they got the paperwork on 9/23/2014. They have the slowest mail I've ever heard of. Anyway, then they tell me I've only sent in the Roth ira and part of the 401k and told me I have to fill out the rest of the 401k part but that I should have my money for the Roth by the 26th of Sept.

The paperwork they sent me was the same ones I'd already filled out. So I emailed then to send me the correct ones or just take the email as proof I wanted to cash out. They sent me the correct papers then. I called yesterday to confirm everything. My Roth was to be paid by today and my 401k is to be paid by next Monday. Guess what... I still have NOT received the Roth. I wonder if this company is even legit. I've had nothing but headaches from these people. I've been separated 1 month from my company. Have tried from day 1 to get my money. They are incompetent, you get a different story EVERY time you call. Just save yourselves and don't deal with these incompetent jerks.

I applied for a checking and savings brokerage account at Charles Schwab in the San Francisco Bay Area in June 2014. I am a female over 50 years. I had all

the documentation and plenty of money to deposit. But they declined me saying I didn't have a good enough permanent address! I've lived in the same county for more than 25 years. Due to frequent travels, I put my things temporarily in storage and then rent temporary housing or stay with friends when I return. I used my mailing center as my address which is a service that they offer. I've been with them for more than 10 years and other banks have accept their physical address.

I also use their PO Box. I was prepared to deposit over $100,000 and wanted to take advantage of their no fees for foreign transactions. But they declined me! I then opened a new banking account in the same area and with the same info, with only a small deposit. But this was not a bank that I intended to use as my primary bank, as I would have with Schwab. My primary bank is #1 or one of the most highest rated banks in the country, so why won't Schwab accept me? To me, this felt like discrimination.

Years ago, they also declined me. They told me that they did a credit check on me and that no bank in the world would do business with me!!! But there was no

reason for this and I never had a problem opening bank accounts. I have several banking accounts and a credit union. In fact, I used to be a Consultant for Schwab and I had to pass a month-long intensive background check before they could contract me. Maybe I need an attorney? This was the same branch that declined me twice!

I initiated a Money Link transfer to a Schwab account in February of 2019. Charles Schwab debited the transaction on a problem with JP Morgan who handles their ACH transfers for Money Link. Everything looks fine until March 2019 when Schwab decides to make an adjusting accounting entry and withdraws money from my account, resulting in me losing around 300 dollars. I sold all of my shares of stock in my Schwab account and have decided to leave the behind company forever. They cannot expect to conduct their transactions so recklessly and without notice to their customers who have bills to pay.

As a single mom attempting to save for retirement, I transferred a couple Roth IRAs to Charles Schwab and opened an account to deposit cash to pay for fees, and save money until there was enough to open another IRA. The charges for this account were so high, that they emptied the account of every dime and closed it, several hundred dollars in a little over a year. The fees on my IRAs likewise were so high that over several years, the IRAs only increased in value by a couple percentage points. If you are a hardworking, low wage earner hoping to save for the future, Charles Schwab is not the place to do it.

I bounced around between big banks and credit unions, and I've always been nicked and dimed for this or that fee, or for not having enough cash in the account while trying to make it through college. I signed up with Schwab and it's been a great 8 years with them. They have always been quick to pick up the phone or chat with me when I need something. Great investment options and good banking perks. I remember one early morning on the way to work I was starting to trade stocks for my retirement account and I accidentally sold five thousand worth of a stock for about $500. I get a call in less than a minute from Schwab asking me if I really meant to sell my stocks for almost nothing, and boy did my heart just drop. They canceled the trade right there and then. I don't have a lot of money -- what other big bank would do that for an average joe? Bottom is that I consistently recommend this, or Fidelity bank, to anyone.

I still have the original signed application from April 2005. After you found your mistake instead of notifying me you froze four of my accounts totaling over $1 million. You did not merely restrict my account. This is a fraudulent statement. You FROZE all FOUR. This also included my business account and personal investment account which actively harmed my business. In addition, I authorized a payment of $22,000.00 out of my business account to my Chase account for the purpose of paying bills for my business. Schwab told me that they would do that for me since I begged them to stop harming my business. Instead, Schwab did the exact opposite and transferred $22,000.00 INTO my Schwab account from Chase, causing me to be overdrawn there. This is reckless at best, fraud to be exact.

During my initial phone conversation with the Schwab agent Dorrit, she accused me of committing fraud. She had no business doing that. She did nothing to remove the freeze on my four accounts. In addition, I work during the day during normal business hours and wasted several hours talking to agents of Schwab after hours who were not able to help me. I do not have an office where I can have a private phone conversation during normal business hours. Your error was very costly to me, my business and wasted several hours of my time.

You held my business and over $1 million of my money hostage. You gave me no choice but to allow you to steal my money. I had to have access to my business account. I had no choice and I agreed to allow you to move the $8000 in order to protect my business. In my conversation with the Schwab client advocacy team I never conceded anything, much less the fact that these were not mine. The letter also states that transfer of all of my assets to Etrade will be complete on June 12. Today is June 15 and Schwab is still holding hostage $1,150.51 of my money. Another fraudulent statement. In summary, Charles Schwab and its agents acted with reckless disregard to my business, my investments and me. Now they tried to whitewash their actions with this fraudulent letter. They should be sanctioned by FINRA and I should be compensated for my time and their reckless behavior.

I am a customer with Schwab for almost 30 years. Since about last three and half weeks, I am trying getting 2007-2008 statement for Citi Group trading statement for the litigation for the stock traded between FEB 26-2007 TO APRIL-18-2008. I had called Schwab customer service for at least 20 times! Every time hearing different answer and still I have not received any response from them. Extremely disappointed and maybe close the account with them! If thing not resolve! You can contact me @ **.

I moved abroad to work for an international company. After speaking to a friend they informed me that Charles Schwab was a great bank for people working abroad because they didn't charge foreign transaction fees etc. So I looked into it and spent at least an hour on the phone with a representative, explaining my situation- that I was already abroad but wished to open an account. He said that was fine, all I needed to do was transfer money into the account and later that week I could request that the debit card be mailed to an international address.

When I tried to contact the company a few days later, they informed me that I had to come in, in person (within 30 days) in order to verify the account. I explained that I was on a 5 month contract abroad and had no way of coming in. They said there was nothing they could do and they were sorry for the "miscommunication." I told them that I never would have opened an account in the first place, had I known I needed to come in, in person. Needless to say, everything was handled terribly. I ended up requesting to close my account as soon as possible and return the money to its original account.

I tried open Charles Schwab account today. They told me that I can't open account with them anymore because they said it was fraudulent account. They didn't even try to help me fix my account or anything. That whole company is full of crap. They try to get invested into their business and company and they don't even tell the reason why they closing your account due to a business decision which I think is bunch of bull crap. To me they try to scam pay customer's that has account with them. They were being discriminated against paying customers that has put Money into your company and not telling them why you closing their accounts is bull crap.

I have worked with both the brokerage and bank sides of Charles Schwab. I have had consistency with broker representation, good advice from my broker in the Chicago office and someone is always available to answer questions. My broker ** will call on occasion and check how I am doing. His advice has been better than my full service broker, RBC Bank. I have not a single complaint with the entire Schwab organization.

I opened an account there last week, and it turns out it is the WORST experience ever! Shame on this brand! How dare you people bluff on TV that this is the “Most Satisfied” brand! Until now, nobody takes care of my account! Nobody takes care of my verification docs at all! I went to the branch, and the staff asked me to go home and open the account myself! I uploaded my file, yet nobody even looked at it! I called, while it asks me to wait more than 20 minutes online EACH TIME! If you people think every client who opens an account is trying to launder money, then do this ** business!!! Shame on this brand, which does not take care of its customer at all!

On August 21, 2014, my divorce was finalized. I requested, my then-husband agreed and the court ordered that I receive 1/3 of his 401K. As requested by the Charles Schwab people, a copy of the divorce papers and a QDRO was submitted. At this point, the account was then frozen; i.e., my ex-husband cannot access this account until the QDRO is fulfilled. The people at Charles Schwab did not mention that they require a certified copy of the QDRO. Weeks went by with no contact from them. Finally, my ex-husband called check the status. That was when they said they needed a certified copy. A certified copy was provided. Again, weeks go by. Whenever my ex calls them, he is told that he is not allowed to speak with the QDRO/401K department directly.

It is now June of 2015 and Charles Schwab is STILL requesting additional information. Meanwhile, I am struggling to keep a roof over my and my daughter's head. Every week it is a choice whether to buy groceries or pay bills. Typically the bills win. This money should have been awarded to me nearly a year ago. Instead, we are forced to play whatever games Charles Schwab deems appropriate. They have a court order; there should be no question. I certainly cannot afford an attorney to try to get this money. Thank you, Charles Schwab, for forcing me to have to file bankruptcy. You disgust me and I will tell everyone I know about your complete disregard of the law.

I called in to a local St Louis branch to ask how I could drop off a check to further fund my account. A representative from Denver answered, even though I called a branch in St Louis. The Schwab representative was hostile and was trying to pick a verbal fight with me. He was very passive aggressive and unhelpful and I've never had such an experience before. This is a financial services company and I am very disappointed to learn the people behind the management and service of our money. I DO NOT recommend Schwab.

I've been in the industry as an employee of a brokerage firm for nearly 5 years. This is not the place to open a brokerage account, plain and simple. There are far better options out there like Ally Invest or Fidelity. My experience at Charles Schwab has been by far the worst experience I've ever had with a financial firm, banking, investing, etc. It takes days to even get an account approved, when I uploaded my documents (license, etc.) it took 48 business hours for someone from service to even review it... a few days later, and I HAD TO CALL THEM back to ask what was going on. Turns out, because I'm affiliated with another broker, my account required more paperwork... why didn't they call and just tell me that?

Transferring funds from an external account also takes 4 business days... 4 days just to have money approved and deposited for trading. Know what? Ally can essentially do this real-time. Furthermore, there was a promotional offer (cash or trades pending deposit amount) - welp, I didn't qualify for those either because they do it by account, not an aggregate of overall assets. THE ONLY REASON I will stay there is because it is a requirement from my employer, something related to compliance and monitoring of employee accounts. Just take my advice, save your time and open an account somewhere else. Chuck is the last person you want to give your money to.

I have no doubt that Schwab has the best people, the best service of any broker in South Florida. The Boca Branch is simply amazing. They have all the resources you need but most important they have the best people to help you with what is good for you. They leave no stone unturned.

Schwab's legal department received a letter from an attorney who presented an outdated order from the court and swiftly moved to lock (freeze) my accounts. They did this without any verification from the court. The move to lock my accounts was swift and almost immediate. When Schwab was presented with the facts that (a) the court order was outdated and had been terminated, (b) that the most recent order in fact, did not instruct Schwab in any way to alter my account status, and (c), when the case was settled exactly one day later and attorneys from both sides sent to Schwab the settlement agreement and instructed Schwab to remove the freeze on my accounts, Schwab has refused to do so.

The swift action to lock my accounts has not been met with the same action to unlock my accounts. After emails, conference calls, sending over settlement docs and even concurrence from both attorneys pleading with Schwab to unlock my accounts, they still remain locked. I have been with Schwab for 2 decades and for the life of me cannot imagine why I am being treated with such hostility and capricious animosity from Schwab's legal team. I am appalled at the lack of attention and the complete absence of responsibility here and can assure you that my business will be taken elsewhere and everyone professional that I know will be informed of my experience with this institution. I have many friends that I encouraged to open accounts with Schwab and I will inform them that they face serious risk with this firm and will encourage them to move their accounts to a firm that respects and protects its customers.

When asked to have an account with Schwab to try to roll over IRA funds into less accounts with my husband, I was told that my account had been closed and that I was being denied the ability to open another account with Schwab. When called to find out reason of denial of services, I have been repeatedly told 4 times that it's a "Corporate business decision", which they are unable to share with me unless there is a court order to share such decision. I have never been denied any such services and after reviewing Charles Schwab services through Consumer Affairs, I'm speechless that this would happen, but also grateful that our entire family will no longer be participating in any services through Charles Schwab, especially if this is how they treat their account holders. Be careful who you place your monies with, especially IRAs.

ETFs too thinly traded to trust - I invested in the Schwab Mid-Cap ETF (SCHM) in my IRA accounts. As a precaution, I regularly use stop loss orders that are 2% or more below the current price. On 12/21, the general market opened about 1% lower; however, a very large market order for SCHM pushed this ETF down almost 4% due to the fact that Schwab ETFs are very thinly traded. This is a warning to anyone using Schwab ETFs. They are much more volatile and risky than similar SP 500 ETFs like the SDRS due to their illiquidity.

Since 2008 the 1099 show higher profits than what I was paid. They expect me to pay tax on what they steal. Industry dirty little secret: those 3 days for settlement they sale your shares to short sellers. Schwab won't respond to written complaints. IRS has threaten me with personal harm. The sec won't respond to my complaint or my complaints about them not responding. My US senator ran me in circles then told me he knew for a fact I had no complaint. No problem with their computers. Problem with their ethics.

I took out a loan on my property. The agent told me I could walk away any time as it was under 60% loan to value, told my wife the same thing, and told her she did not have to sign the loan documents because I could walk away at any time. Well, that was not true; they foreclosed on us judicially. It cost about $30k in my attorney’s fees on a $105k loan. And then I settled for $88k 30 months later. But at the beginning I offered them $90k, so not only are they not trustworthy, they’re not very bright either. They appraised the property at $209k on a 520 sq feet building that did not even have a septic system or a cert. of occupancy. It would have cost me $90k in attorney’s fees, so I settled.

Our parents passed and had a 401k account through Volt, which prior to death we tried to cash out via a POA, and Charles Schwab chose to ignore the POA. After their passing, Charles Schwab was worse. We spent more the worth of the account in attorney's fees and basically the money disappeared, and Charles Schwab kept the monies. I don't understand how such a company can pull such scum-of-the-earth actions and people continue to give them funds. Be afraid, very afraid. We moved any of our now funds from any involvement with Charles Schwab or companies they may manage. Karma's a witch and I hope it comes back 10-fold.

This relates to a long incident involving another bank I won't mention here -- I reviewed it elsewhere. Long story short, I wanted to close my primary checking account on short notice. I found myself at home with a few thousand dollars in cash, trying to find which bank provided the best services for the best price. Charles Schwab has since been a pleasure to deal with, esp. working with me on a few tricky / time-sensitive transactions. While they don't have many branches in my area, their phone services are really good -- much better than the in-person service I received from my former bank.

It was a little tricky to open an account initially; I couldn't get it to work online and it only happened after I called in and spoke to one or two people on the phone. Since then, it's been a pleasure to deal with the folks at Schwab in pretty much all things. Re. portfolio / brokerage options, they do allow for pretty versatile individual management and they provide the option of having someone manage your account, I think for a fee (not sure). They even have brokerage/checking linked accounts - a good alternative if you're fed up with making 0.x% annually on your checking account.

I will say that their 'cookie-cutter' IRA / portfolio management strategies confuse me, as the guidance I was offered seemed to mitigate risk and potential gains equally (the largest projected difference I saw between their investment strategies was a long term 1-2% disparity in gains), but their approach is one I would expect from a bank-affiliated brokerage that wants to minimize the possibility of people making bad decisions / losing all of their savings.

That said, the analytical tools they provide online are excellent, so you can quantify and analyze the potential gains and risks of your own strategies as well as their suggested portfolio breakdowns. Informed decisions are more likely to be good ones. In my experience, they're as good as it gets. There might be better banks out there, but I haven't found one.

I used Charles Schwab & Co. for the first time and it was the worst experience ever. They are only about the money that they can get in. They do NOT CARE ABOUT THE PEOPLE! Invest your money somewhere where they care about what is best for you in the long run because once they get their hands on your money they WILL NOT GIVE IT BACK! DONT TRUST THEM. RUN FROM THIS COMPANY. TRUST ME. RUN! You're better off keeping your money in a shoe box!

Okay, we have tried to get just a little bit of our 401k out like $3,000 and everyone in that company has given us the runaround every time we call. They say it's on the way or it's been deposited which none of this has happened. They are the rudest company I have ever dealt with. I would never put my money in with them! They are a piece of ** company that manipulate and give their customers the runaround. I hope Charles Schwab tanks and goes under. They don't deserve to handle anyone's money.

I already had my 401k with Charles Schwab. Then I went to open an account with this company so I could invest personally. Because I had poor credit, they closed my account. I was told they don’t want to do business with people with credit issues.

There are a lot of people with credit issues out there. So, is it only the wealthy who can make trades on the stock market now? I filed a complaint with the SEC on them recently. I will see what happens....

I had 401k through Charles Schwab, I left my job in February, at beginning of April I contacted them letting them know I wanted to withdraw my 401k funds. They will not process my request because they claimed my account is still active, however my corporate HR has verified and sent them multiple emails and contacted them letting them know I have not contributed to the 401k or been with the company since February. It's May 11th and every day it's a different excuse. This company are crooks and extremely rude. If you have 401k with this company beware they are dishonest and do not wanna pay people their funds.

So far, best customer service I've had. Got a bank account before I left the States. When my card got blocked in Indonesia, I was able to call via Skype and it got solved immediately. When I lost my card in Australia, and they sent me a new card free of charge even though it's international. When I had to activate it, there's only a toll number which charges per minute so they reimburse me once I sent a copy of the phone bill. Each time I've called, the service has been pleasant. Easily recommend for anyone that's travelling.

I had a brokerage account with Schwab, tied to a checking account. Inexplicably they closed the checking account without notice. This was not due to criminal activity or court order. They just did it and called it a business decision. Then when I complained about closing the checking account they closed the brokerage account without notice. They said it was a business choice and I should go elsewhere. I feel they are quite foolish as the brokerage account had a margin loan that generated 15,000 a year of profit for them. I moved my account, and then had my clients move their account as well. This cost Schwab 80,000 a year of margin interest. I doubt they will care, but any company that treats customers like this and does not care about losing money, even only 80,000 a year, is one that we should all be leery about doing business with.

I opened an account with these FOOLS in Nov. 2017. I just got notified today that they will close my account. When I called to ask why, I was told it was a "business decision" and that they do not have to disclose anything beyond that to me. First, how RUDE that hardworking people such as myself would trust you with one dime for you cowards to turn around and treat me this way. Is this what I get for investing with a morally trashy company like Charles Schwab? My situation, you might ask? I opened an investment account, I bought large stocks in 4 companies and then used a few more thousand to invest in altcoins. THAT'S IT. Thank goodness I didn't push all 3 of my 401k accounts over to your institution because your company is completely unprofessional and unworthy of having ANYONE with a brain do business with you. Go down in flames, Chuck.

Yesterday, I was informed by Charles Schwab that my accounts, which I have had for nearly 30 years, were being liquidated for "business reasons." I am 69 years old, and most of these accounts are for retirement. I assume that business reasons means that I am now ready to withdraw from these accounts instead of contributory to them.

If there was NEGATIVE STARS I would give this company -5. I am a public speaker and a business coach and have lectured around the world for 22 years, so they really messed with the wrong person, they shall be my ongoing example for my lectures about HOW TO LOSE CUSTOMERS. I was testing the experience of investing with them with little money to go ahead in 90 days and starting investing 6 digits... But they TOTALLY MESSED UP BIG!!!

They were happy to take my investment $8.000, but when I want to authorize my husband to use the account on my behalf they were RUDE on the phone, totally unprofessional and pass the call one to the other and not resolve my request, not even LISTENING to me, wasted my precious time (which is money) on the phone with them for hours while they keep reading scripts, all they did is TALK and TALK OVER the customer (me) and not listen, not honor the request. This was simply THE WORSE CUSTOMER SERVICE I EVER EXPERIENCED, I am taking my investments some other company. This one needs massive customer service training, so imagine how bad they will be at giving me my money back, now that I shall go invest some company that has a clue about customer service.

In the last 72 hours I opened a trading account without an issue with Charles Schwab. I was ready to make a deposit from my own personal checking account into this brokerage account to start trading, then I got a notification that I had a hard inquiry on my credit from Charles Schwab. First, after my account is opened they conveniently pull my credit, without authorization and second, I in no way applied for any credit based anything with Charles Schwab. I have since asked for immediate account closure and was met by a rude customer service agent who only made excuses as to why my credit was checked. This should never happen to anyone and is fraud on so many levels. I didn't need credit from Charles Schwab nor did I apply for it in any way shape or form. This company should be prosecuted for this, as I am sure this happens to many customers.

I am a small business owner. I recently opened an account with Charles Schwab. I made my first trade and everything seemed to go smoothly. Two days later I get an overnight delivery letter telling me they have the option to close accounts and that they were closing mine. They gave me 30 days to transfer my securities and cash out of their company. Needless to say, I was surprised by the letter. I have called their customer service department but nobody will give me a reason for their decision. It is very frustrating to be basically blackballed by a company I chose to do business with. It is not that big of deal as I have accounts at other firms but the lack of an explanation is bothersome.

In early March 2017 I opened an account with Schwab online, the process was fast and easy. Verified my bank account within 24 hours and was all set to go. I purchased $10,000 of stock and opened an IRA a week later to transfer more funds. While waiting for the check to arrive from my other bank, I get a UPS next day air letter stating that "you agreed to abide by the terms of the applicable Schwab account agreement. That permits either you or Schwab to close the account at any time and for any reason. Schwab is now exercising its right to close your account effective xx/xx/17."

Once the new funds I was planning to deposit were delivered, I walked in to a local branch with a check in hand ready to deposit and they refused. I explained I was planning on adding more funds within 60 days when they came available. Still would not help me or take the money. At their recommendation I called the account advocacy team asking for more information and was simply told it was a "business decision" and they couldn't provide more information. They stated it had nothing to do with the amount of money in my account and couldn't be changed by depositing any amount of money.

My credit score is 799, I own a home free and clear, have NO debt, and have liquid cash plus money in accounts that report to credit bureaus. I felt the business decision was poorly made (probably by a computer) and requested to speak with a supervisor to get more information regarding the specific reason or find out if I could appeal the decision. I was refused access to a supervisor and provided no information and was told that there is nothing I can do to revive my accounts or reverse the process, nor would I be allowed to open a new account.

My experience has been completely opposite to what the materials I received in the mail (2 weeks after receiving an account termination notice) say. "Our Promise. Transparency. We'll be open and honest in all aspects of our relationship..." Schwab was not transparent, open, or honest about the decision leading to my account termination. "We'll work with you based on your needs, preferences, and goals. You're in charge, but you're never alone." No one was willing to speak with me to understand my needs and preferences and perform any sort of detailed review of my account to address the issue. I was simply read what was on the screen and told to take my money elsewhere.

Overall, a completely unsatisfactory experience. I would not be writing this review if someone could have given me a specific reason for the account termination or made even the slightest effort to re-evaluate the decision. I feel the decision was flawed; it does not know the future and what actions I may or may not have been days away from making with my money at Schwab.

I agree... Schwab is totally unprofessional as is evident in their simple math calculations and what they reveal to the customer. Here is our correspondence with them. NO ANSWERS... AT ALL! Additionally, they have rules and such that are quite secretive as I have yet to receive them. HOWEVER, when I do something such as increase my contribution rate, they come back with CANCELING my request citing a 60 day period for which you can not raise or lower your contribution rate AND telling me that they will apply the contribution change NEXT YEAR! No authorization from us at all. No communication from them. No requested copy of the rules and regs and such.

Additionally, with NO notice to us, we were "OPTED IN" to a robo-advisor service (with a fee) losing ALL of our investments in mutual funds and taking a substantial loss and reinvested in SCHWAB ETF's losing money for months until we hired an outside financial guru to slowly work us out of the mess and properly invest our funds. We took a huge hit. SCHWAB didn't do a thing... NOTHING. Communications ceased and we were left with a mess to fix. Now strange calculations, apparent missing funds, threats of making changes to our account with no authorization from us AND we ARE 100% vested.

OUR MONEY however SCHWAB treats it as theirs. Complaints filed with ERISA and FTC and SEC seem to disappear as it doesn't involve millions... I believe if every single customer of SCHWAB Retirement Services closely scrutinizes their accounts, it would be millions. It is a shame since we are stuck with whatever company the employer decides to use for our 401K... In this instance they chose SCHWAB. I fear the day we can actually start pulling money out based on SCHWAB's past performance with us.

Finally, the latest issue... We had open transactions selling positions. The positions were sold and due to the T+2 rule, we were waiting on the funds to settle and be deposited into the SCHWAB BANK SAVINGS. Upon looking at the transaction, it showed that we purchased 12,000 dollars of SCHWAB BANK SAVINGS at... $4.00 a unit. Should be $1.00 a unit. Any explanation from SCHWAB? ZERO. Good Luck if you get stuck with this company as they are NOT YOUR fiduciary. You must take that position yourself or simply sit back and make SCHWAB richer and richer and you take the hit. The company triple dips by charging Record Keeping fees, SCHWAB ETF fees, AND SCHWAB robo-advisor fees. That's it. Good Luck.

My husband and I wanted to open an account for the overseas ATM perk In the beginning of June. I went online and started the process, noticed midway through that I could only open a single account online. Did a live chat and was told I could print and mail paperwork to add him at the end. So the opening was standard, process was simple and easy. I filled out extra paperwork only for the checking, as we didn't really care about the brokerage account. Called to be sure this was ok, was told it was fine. Mailed it off. Got a call two weeks later. They are missing paperwork for the brokerage account. Grr. At this point I want them to send me the paperwork. My printer's not working and I want to be sure I've got the right forms. Call and they say they will mail them. Instead, I received email directing me to the webpage THREE TIMES over the next week. Instead of mailing the form, I got an e-mail directing me to the webpage.

At this point my printer is fixed so I re-check which form I need, print it, fill out the whole thing and send it off. Again, two weeks goes by and I hear nothing. I call again and I'm told they couldn't read my husband's name. I spell out my husband's name, let's call him John Smith. The next day I get a call. They need to speak to my husband about "some of his answers". Really? He's overseas at this point, WITHOUT HIS ATM CARD, so they can't. I'm so mad I tell them to forget it.

When Hub returns home we go down to the branch office together. What an unbelievable waste of time! We're told the agent isn't supposed to have his handwriting on the form, so we have to fill it out ourselves again. There is no ID check. We could have been anyone at all adding an extra signer to an account. Probably didn't matter because this wasn't processed there. It was sent once again to Incompetence Incorporated.

Finally, after another ten days, I receive a letter in the mail. "We have added John Smitee Jt Ten to your account." WHAT? They've also incorrectly changed the spelling of the town I live in. I have banked with over 20 different institutions in my life and I have never, ever, seen such a level of self-assured young men screwing up. At this point we are still waiting on a correction, but after reading other reviews I'm very tempted to take my money out. I don't know what's happened to this firm but I have absolutely no faith that we will be able to use the bank when we need it most.

Applications are user-friendly. Online representatives are readily accessible. Fees are fair and reasonable. We have no reason to search for other options.

I used Charles Schwab's Bill Pay to make payments on a Honda Finance loan that I had paid current since 2012. In June 2015 I set up the account to autopay the loan through the loan's final payment in 2017. Instead of doing what it was supposed to do, the system overrode the date I put in and set April 2016 as the final payment date. In June 2016, Honda Finance sent a letter threatening collections, and that was when I first became aware that Bill Pay had failed.

I paid the loan payments current, and then had the Schwab rep get on the phone with the Honda rep. The Schwab guy said that the error was likely a Schwab system error, but refused to send a letter or email to Honda because of legal liability issues. Apparently this is an issue they are aware of and are trying to limit liability with very little thought as to how it harms customers. Schwab now refuses to admit its error and instead is telling me that I put in the wrong date. They did not review their system or provide any evidence to counter my witness testimony.

The net result is that my credit has been negatively impacted. I'm trying to buy a house, and the past due is hurting my credit score and could well cost me thousands of dollars more in interest expense. This is an organization that has little regard for customers, and I am moving my accounts from them. I encourage anybody who reads this to do the same.

I've had an acct there since 4/17. Up 'til this evening I was a happy camper. Now, there is a trust issue. About 5 months ago I called and asked a question and got an answer I liked. It involved fees. Today I was informed they have no record of having said/told me this and they are denying my solid memory of what I was told. I was told I am mistaken. I am positive I am not mistaken as I made notes of the date, time and person I spoke with & what they said... Trust is not a minor thing with a firm that has my money. I am now about to transfer my holdings someplace else. If anyone has good or bad to share about being a Schwab customer, I'd be thankful to hear. Most Appreciated.

It's been one month that I have been chasing Charles Schwab to get my refund. But every time I hear that it'll be done in a week's time. It's been 4 full weeks and 2 cycles of refund and still I did not get my money back. Nobody has a clue why my money is not being refunded.

Schwab’s private client program is smoke and mirrors. It’s a fee-based service that claims face to face appointments after you sign a contract to pay a fee. I am a former employee and had many sleepless nights after I sold this program and begged management to provide the service it claims to have sold to its customers. Now, I am in a legal situation. I went to my manager with fears, ombudsperson (third-party person put in a firm by the sec for investor protection) and nothing. Now, I am being sued by Schwab. Are you kidding me? Get some integrity, Schwab: stop bullying investors and employees. Talk to Chuck - I wish I could talk to Chuck to tell him internally how I was bullied. Whistle Protection Act, where are you?

I had a $5 fee outstanding on my brokerage account. They wouldn't let me pay over the phone. I usually wire money to my account, but they insisted I link my bank account. There was a problem with the website linking my account. So they sold ALL of my brokerage stock position to pay for the $5 outstanding fee resulting in a $10,000 loss. I tried to buy back my positions but they put a FREAKING HOLD on my funds for 3 days so I lost even more money!! This organization is a cluster **. One department has no idea what another is doing. If they would have looked at notes I would have lost nothing. But one department can’t see the other notes!! STEER CLEAR! YOU COULD LOSE EVERYTHING!! I am thankful it wasn't my life savings and it was just my trading for fun account.

I use my mobile device on a regular basis to watch my account and trade on a daily basis. The fingerprint login repeatedly glitches and makes you enter your password and online I.D. Then you have to opt into the fingerprint access. This is frustrating. As you all know, prices can and do change in seconds. I have lost hundreds over the last week and a half due to this. If I’d of been able to use the fingerprint to log in, I would have been able to lock in trades that increased my portfolio value. Thanks for being a fortune 500 company with a very hit or miss APP. Not like we can stroll around with a computer strapped to our necks.

Basically I called to open a checking and brokerage accounts. I filled the application on the site and then called because of few questions I had. After the person on the phone looked at my application, I was told my account number and that everything is OK and I just needed to pass the government background check to make sure I'm ok with them because of the homesec rules. I also was told by -name withheld- he will follow up on my account and call me when it had officially been open (I could not deposit till then).

He is supposed to call me tomorrow but YESTERDAY just because I wanted to checkup on my new account, it won't allow me to log in. So I called. I was told the account is closed and that they don't ever release the reason. This reminds me so much of history on his the MOB operated in NY. They don't even know how much I was planning to deposit. What if I just won millions by chance and I'm looking to invest? Seems a lot of shady stuff is going on that they won't talk about.

Charles Schwab does not offer a true secondary market, and is guilty of insider trading. Earlier today I made an offer in a secondary market, to buy corporate bonds, with only six months remaining on an original maturity that was many times longer. The yield on the bond was 5.1%, with a huge coupon invoked by the broker of the seller of the bond. As a result, the Yield to Maturity was a negative interest rate, so I made an offer to eliminate the coupon, which I see as unnecessary enrichment, so that I could get 5.1% yield. I didn't find this unreasonable, since I had to pay an extra $25 to Schwab, in addition to their standard charge for buying bonds, which seems to be $10, plus $1/bond.

I was told by the fixed income desk that someone would call me within a couple of hours, but I never received a call. I did call within two hours, and was told that there was only one other bid to buy the bonds, and that they usually wait until there are three bids before selling the bond. However, there was no disclosure of this, and you don't know who the selling broker is until the bond is purchased. For all I know Schwab was selling the bond for another one of their clients.

I called back again after closing and was told my offer was rejected. But different than other trading platforms, Schwab doesn't let you see your offers and rejections in real time, and you have to call into speak to someone. As a result, you don't know what you are dealing with. Not only did I not receive a phone call, but was lectured by Schwab that my expectations are unrealistic. I think Schwab is unrealistic, and should disclose to the public that the coupon is going to the broker as well as the fees that we are paying, which in this cases amounts to almost $546. I don't know if Schwab is getting all of this $546 because I don't know who the seller is. So this is one really expensive brokerage fee.

I have been with Schwab for many years and have been happy with them up until the last few months due to continued website outages. But yesterday really fried me. I had 250 shares of MOMO (earnings due out next morning) and I had put in a trailing stop a few days earlier as this was a new feature for retirement accounts. I noticed the stop was for only 100 shares so I clicked on "Cancel" order button, to so I could cover all my 250 shares, as that is the ONLY option available. A message popped up stating something to the effect of "transaction could not be completed at this time, try back later." So I tried it again and got the same message. I waited a few minutes and tried again, same error message. My surprise came when I went back to my Account --- Positions page and it shows -50 shares of MOMO and a "Securities Due" message & a phone number to call at the top of the page.

I called the number at 6:45 am and spoke with Lee. After holding for 5+ minutes he comes back and says they checked my account transactions and after trying to cancel stop, I put in 3 market sell orders of 100 each. First off, why would I do something as stupid as that. Second I told him that was an impossibility as there was only one option available "Cancel." Third, I couldn't make 3 separate orders within the same minute as their fake records show. After going around and around he says he put in a "transaction dispute" and it will be a few days but that I would have to buy 50 more shares at Market to cover my -50 shares margin. So I went ahead and paid a premium for the 50 shares. And this morning, I noticed I have "Zero" shares of MOMO again??? What happened to the 50 shares I was forced to pay for yesterday??? No record this time of any fake trades being done either. I've totally lost all confidence in this company to handle my account.

We had my brokerage account stolen ten thousands dollars in fraudulent internal bank transfer from Bank of America to Charles Schwab & co. I am ill and blind as well old and sick. Please give my money surveying funds back now as soon as possible. Thank you so much. They duplicated the payment from Bank of America to Charles Schwab without having the funds and then they debit the account back to Bank of America but kept ten thousands for sharing old, sick and disabled female surviving funds for their own use. Please help us to regain those monies back as soon as possible.

When I phone in I get fast answers and the responders are polite as well as helpful. It is a pleasure to do business with this company. Their website is easy to navigate, everything is clearly explained.

Invested some IRA money with the new Intelligent Portfolio product. Even with 30% in cash, the fund lost 7.5% of principal in 7 months. I could have been fully invested in the S&P 500 for the same period and only lost 3%. Schwab invests in their own funds, and they suck! Don't fall for this pathetic black hole. Also, nobody called to inquire why I was closing account. Just sucked the money.

Lost my debit card a few times. Had some issues and Charles Schwab was always easy to contact and helpful. Not the guy himself, but the representatives. I made an account on this site just to write this review because it's a great bank and I couldn't believe it got bad ratings. I do brokerage, retirement, and checking account with them.

The plan changed the timing of requested investment changes without notifying participants. I requested a change and was not allowed another change for a week. The prior procedure was one day. Needless to say, as the change involved company stock, I was locked into company stock for an extra week. These are issues that the DOL is usually engaged in investigating. This company does not know its clients or their history and is too large to be effective in the 401k space without significant changes. Recommend another provider if you are looking. Signed, An ex-plan sponsor/fiduciary.

I have been with Charles Schwab going on 10 years. I have invested well over $20,000 of my hard earned money with only a few mistakes on Schwab's part which was made right by granting me free trades on a consistent basis there for a while. Fast forward a few years I inquire about shares from a spin-off that I've never received from Schwab. After their lack of intelligence on the matter, they investigated it. The very next thing I know they're telling me they're closing my account and when I asked why they simply said, "We don't have to tell you why. It's just a business decision." This isn't some department store account. This is my finances, this is my money. They sure weren't singing this song when I was dropping tens of thousands of dollars into my account and paying all their commission fees. RUN FROM SCHWAB - CRIMINAL.

I travel internationally to Central and South America and am dependent on my ATM card to live. The fees using my card can eat you alive with extended trips, but thanks to advise from a friend my ATM fees are now all credited to my account at the end of each month. :-) Not only does that save me sometimes hundreds of dollars a year, each and every customer service rep I have talked with at Charles Schwab has been the most courteous, knowledgeable, and professional. And when you call CS it does not take 10 minutes and a dozen selections to finally reach a live person waiting to be of assistance! Charles - keep up the great job you all are doing! You are one in a million who "gets" what customer service SHOULD be! Thank you!

First of all in the 90's I was administrator of a small banks employee 401(k) account and it was held with Schwab. They were wonderful and extremely easy to deal with. Then I inherited a small IRA from my ex. I was the beneficiary but his mother disputed it saying he told her she was named on it. This was the only evidence she had. Schwab would not release the money even though it was their signed beneficiary form which said it could not be changed unless in writing. So I was forced to hire an attorney and 10 months and $20,000 in attorney fees the judge upheld the beneficiary document. On Monday, May 22, 2017 my attorney drafted a letter with all of the information and the order from the judge and faxed it to the number we were given.

Mind you when I was notified of this account Schwab sent me all of the forms for an inherited IRA account and I returned them immediately. I called 2 days later and was told they hadn't received it. So again I had my attorney fax them over and I emailed a scanned copy through their message center. Now we are 5 days later and they do have the documents but the legal department has to review them and it will take a few more days. In the past 10 months I've called to get the account balances and have been given them. Today after I'm told they have the documents stating the account is mine they no longer will give me the balance. I will never put a dime in an account with Charles Schwab again.

I have been with Schwab for over a year and had had this happen to me right from the start. I own several different stocks and when they do pay a dividend, the company gives the information on the record date and payment date. When the payment date arrives, I expect to have my cash dividend in my account the morning of the payment date. This NEVER happens. It does not show up in my account until the next day - after the official payment date.

Schwab claims that they do not receive the payment from the companies (through ACH) until well, after the business day is done on the payment date. I have checked with one of the individual companies and they absolutely guarantee me that the money is there for ACH transfer at the first moment of the actual payment date. Charles Schwab claims that ACH does not get that to them until WAY after the close of the business day. Which I have a hard time believing because when I had an Ameritrade account my dividend was always in my account first thing in the morning of the payment date. Same thing when I was at Merrill Lynch and other past online brokerages. Charles Schwab says that those companies "choose" to give me my dividend on the payment date because they "assume" they will get the money from the company paying the dividend through ACH. Schwab says they do not do that because the company may not pay the dividend.

As in Superman II, I believe it is, it seems to me that Schwab has that money in their account all day the day of payment and then they don't sweep it into my account until the next day. Who gets the interest on that money when it is in Schwab's general account on the payment date? THEY DO! I do not. And I do not have access to that money to trade on it on the payment date. When I have questioned them - I have gotten the same answer...well, that is the way we do business. They also say, gosh lady, we are only talking a couple of cents here - what's the problem? The problem is that they are making that "couple of cents" off of every account that receives a dividend over and over everyday. It adds up to lots and lots and lots of "few cents" when one takes into account all their clients and every stock owned that pays a dividend. I don't know, but it doesn't seem legal to me. It certainly doesn't seem ethical. But they don't seem to care. I like Schwab's trading platform and some of the other things they offer so I would like to stay with them but I want to know if this is a legal practice or not? They are getting richer at their client's expense!

Schwab withdrew $130,000 from my account without my consent. This was not taken on profits only but whenever a trade was made. After speaking to Schwab many advisors and "tax experts" as they are referred to they have not given me an honest explanation as to why this was done. Schwab has told me the IRS advised them to do it, the IRS told me that they NEVER advise a brokerage to do this. Now I am at wits' end to get my money returned to me from the IRS. Schwab is not taking any responsibility and cannot give me an honest explanation as to what happened and why this was done in the first place. I have nowhere to turn and feel like Schwab has stole my money out of my account and it is my problem not theirs.

I recently transferred money into my firm's Schwab account after changing jobs and was having trouble accessing my new account online. I called customer service over the weekend, and provided my social security number and was told that they couldn't help me; that the account was only serviced by certain individuals available M-F and that I would have to call back Monday. I was told that it might be possible to find someone to help me, but he "didn't think that person was around." I then asked to speak to a supervisor and was put on hold for 13 minutes and hung up. It is inexcusable to be directed to call back Monday to access one's account because customer service is either not knowledgeable enough to assist or too lazy.