Follow us:
  1. Home
  2. Finance
  3. Online Brokers

Charles Schwab & Co.

101 Montgomery Street, San Francisco, CA

Charles Schwab & Co.
Overall Satisfaction Rating 2.39/5
  • 5 stars
    64
  • 4 stars
    43
  • 3 stars
    49
  • 2 stars
    26
  • 1 stars
    183
Based on 365 ratings

This company is not yet accredited. See reviews below to learn more or submit your own review.

Get advice from finance professionals.

Find a financial advisor near you on SmartAsset

Get Started

Get trending consumer news and recalls

    By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Unsubscribe at any time.

    Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.

    Are you this business?

    Get advice from finance professionals.

    Find a financial advisor near you on SmartAsset

    Get Started

    Charles Schwab & Co. Reviews

    Sort: Top reviews
    Filter by: Any

    A link has directed you to this review. Its location on this page may change next time you visit.

    How do I know I can trust these reviews about Charles Schwab & Co.?
    How do I know I can trust these reviews about Charles Schwab?
    • 2,474,206 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.

    For more information about reviews on ConsumerAffairs.com please visit our FAQ.

    Page 1 Reviews 0 - 10
    Rated with 5 stars
    profile pic of the author
    Verified Reviewer
    Original review: Aug. 9, 2020

    I think most know that you can invest through Schwab - but I don't know that many realize you can have a checking account with Schwab - and it EARNS INTEREST rather than charging you fees! All ATM fees are reimbursed as well - no matter what ATM you use. The only drawback for some is that they don't have a lot of brick and mortar locations - so it's difficult to deposit cash - but I do all my banking online these days anyways.

    9 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: March 27, 2020

    I've been using Charles Schwab for over 2 years and I am happy with the company. The operators are so helpful anytime you call them. Never charge for fees. They are so professional and easy to deal with. I like the platform is easy, fast and I use from phone and PC. Everything goes thru very fast. Especially right now is the best to trade every day if possible. You have lots of room to play and gain more than before. I split my portfolio, is very diversity like banks, hotel and tech. Soon as I now in official web to diversity the portfolio I change the way I trade. Now I am happy and I can't wait to crack more. I highly recommend this trading company.. Besides trading I have the debit card, I can pay Bills, transfer fund. The best way to make money is to trade every day. I made mistake last year by keeping for 6 months but didn't want nowhere. Now every day is better than I thought. You can make living with this income.

    6 people found this review helpful

    Not sure how to choose?

    Get buying tips about Online Brokers delivered to your inbox.

      By entering your email, you agree to sign up for consumer news, tips and giveaways from ConsumerAffairs. Unsubscribe at any time.

      Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations.

      Rated with 5 stars
      profile pic of the author
      Verified Reviewer
      Original review: Dec. 2, 2019

      I've been using Schwab for about 4 years now. I started with one account and now I have a checking, brokerage, and Roth 401(k) account with them. I have done numerous types of regular financial actions and never have a paid a fee with Schwab, honestly. Their checking account is very easy to use, and I've never had any problems with things like direct deposit or transferring to other accounts. I also LOVE the checking account debit card that reimburses ALL ATM fees around the world and does not charge ANY foreign exchange fees. It is the BEST way to get cash when you arrive in a foreign country. Their bill pay feature is also easy to use and I haven't had any problems.

      I also love the brokerage/retirement accounts available. I have frequently bought and traded some of the Schwab funds available, including money market funds. These Schwab funds have very very low operating costs (net expense ratio) and they do not charge commission/purchase fees, love that! Anytime I have any questions or concerns with Schwab, I typically use the online chat feature, where I am quickly connecting with a smart rep that is very effective in answering my questions. They have even helped me learn some basic investing questions. I moved recently but before that I would go see an in-person rep to go over my goals and other things, and he was extremely helpful and respectful. I can't recommend Schwab enough. I often tell my friends all about it and recommend it.

      11 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Aug. 3, 2020

      I am with Schwab 27 long years. Trade every single day. Brought in my whole family. Brought in my team members. And about 28 friends. I was a very happy customer. But recently everything has changed. I would warn any new people to try anywhere else.. You will not be able to reach a person for any help in under 25 minutes. When you send a message you might get a response in 3 days. When an error is made on a trade. They require up to one full week. That is 7 days to review the trade. Obviously at that point the complaint is mute. I lose both ways. When you call. You need your soc sec number and account number. And then they will ask you to recite into the phone 3 different sentences. This is to verify you are you. This will take a while. And will make you sound to people around you like you lost your mind. Do not let this happen to you. They refuse to apologize or fix the error.

      34 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: July 29, 2020

      I opened a brokerage account and started day trading. I have no complaint with fees or the platform. Few weeks into trading I decided to open a checking account and I did. The next day with no warnings my account was suspended and I was instructed to call customer service. Since I’m overseas I spend $$ to stay on the phone to figure out why my brokerage account was blocked while I have shares I bought is going downhill and I can do a damn thing about it. I’m still locked and waiting for them to give me access to money I saved up and invested being taken away with the bear market. Very disappointed with the brokerage and don’t recommend it for anybody.

      16 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: July 28, 2020

      I've 'opened' an account with these 'High Class' bank and once I've tried to make set ups to transfer money from my other bank, the bank said that my application got 'lost' and I should re-apply again...(?). So I did. But it wasn't any way for me to log to confirm the three small deposits they sent in order to link both accounts. Then I called them and after a few questions to confirm my identity I was told that my account was 'closed' due to a report from Equifax.

      So I told them that I did not request any loan or a similar service, just wanted to open a checking account with them. But the telephone assistant said that I was going to receive a letter explaining the reasons why my account was closed. I told her that the reason why I was turned down is because my credit score was not 700 or higher, and that I feel discriminated because of that. Sad to know that this bank is only for millionaires, specially in these Covid-19 times. Beware of folks, if you are not a money guy or a tycoon go to somewhere else.

      11 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: July 1, 2020

      Tried to call before corona. Will not return call. Always assisting other customers. Never got call back and during called no reply. Sent a fax if no response will close my one million dollar account. Gave 7 days still no reply. Closed account. I don't why advertise for more business if you cannot service you have. Thanks. Chander

      19 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 26, 2020

      Several times over the past year, the Schwab platform has seized up during periods of high volume, both on up and down days, but usually on the open of the day. The common denominator is high volume, which the Schwab system probably can't handle. A few months ago, when market volatility caused the markets to shut down, my trades which had been executed were lost, and others that had been entered never got executed and reappeared later. I called Schwab and asked them to make me whole, but they declined. They said there was nothing I could do. I looked into suing them for recovery of loss but couldn't because I had signed an arbitration agreement. I have since closed my account.

      25 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: June 25, 2020

      Wanted to have all my money removed from my Schwab account into my checking account. I was told the process takes three days. Fine. On the third day I went to their website and tried to move my money. My attempt was voided by their system. Called them and after twenty minutes got in touch with a representative. She said the reason it got voided was because my bank did not give me instructions on how to wire it. I told her all they needed was my account number and routing number... The exact way I did it when I sent them money. I literally filled the form out to their specifications and even verbally told the representative my account and routing number verbally. Representative said she sent the same day wire. This was at 9am. At 4pm I still had not received my funds.

      Called my bank. No wire was pending. Called Schwab back and again a representative said I needed to contact my bank to find out proper wiring procedures on my banks end... Lady my bank didn't reject the wire... They can't even see a pending transaction from Schwab. How can they decline something they can't see? In the process now of reporting them to the FINRA. Even after I told her I was going to report them she still insisted that the wire was sent and my bank must have declined it... My bank once again have no pending transactions they have the opportunity to decline.... Hung up on them... Waste of time. Poorly trained staff that lacks common sense... Or staff that thinks its customers are just stupid. This Company is Terrible!!!

      22 people found this review helpful
      Rated with 2 stars
      profile pic of the author
      Verified Reviewer
      Original review: June 5, 2020

      They cannot get their 2 vendors to coordinate prices. Edge has been problematic for over 2 years. The tools do not work. Block trade and Momentum tools only work with stocks from A to F. The others do not register. The constant calls and they try to blame your operating system. They do not care. It's not their money. DO NOT FALL FOR THEIR LYING IT'S YOUR PC, BECAUSE THIS IS THEIR CLOUD AND THEIR SOFTWARE ENGINEERS DO NOT CARE. I am warning you. They blame everything but themselves. I wish someone starts a class action suit against them.

      19 people found this review helpful
      Loading more reviews...

      Charles Schwab author review by Clark Kendall

      Charles Schwab offers a wide range of financial services and products, including online trading for all levels of investors. The publicly-traded company was founded in 1973 and is headquartered in San Francisco. The full-service firm has offices across the country to provide investors with support for whatever type of brokerage service they have.

      • Personal consultations: Customers with trading accounts can set up a free consultation with a professional broker to learn about the online trading platform or review their investing strategy. Clients can schedule a phone or online chat consultation or visit a local Charles Schwab office.

      • Platform: Charles Schwab’s proprietary StreetSmart Edge® platform was designed to help online traders find investment information and make trades. Interested consumers can visit the website to view a brief demo or have a more extensive walk-through. The Charles Schwab website lists the speed at which the platform executes trades for customers who want to make trades very quickly.

      • Research tools: Charles Schwab clients have access to resources to help them gain information about stocks, options and other investment assets, like a letter-grade rating based on Charles Schwab’s predictions.

      • Local workshops: Some Charles Schwab offices host live workshops for those with online trade accounts with the company. Interested consumers and existing clients find information for the nearest workshop location online.

      by Clark Kendall Personal Finance Expert

      Clark Kendall has over 30 years of domestic and international investment and wealth management experience, focused on serving Middle-Class Millionaires. He is a Chartered Financial Analyst (CFA), Accredited Estate Planner (AEP) and Certified Financial Planner (CFP). He is the president and CEO of Kendall Capital in Washington, D.C., and a member of the Washington Society of Chartered Financial Analysts.

      Charles Schwab & Co. Company Information

      Company Name:
      Charles Schwab
      Year Founded:
      1971
      Address:
      211 Main Street
      City:
      San Francisco
      State/Province:
      CA
      Postal Code:
      94105
      Phone:
      (866) 855-9102
      Website:
      www.schwab.com