Charles Schwab & Co.

I opened online Brokerage and checking account on 12/ 21 /22 and funded the account confirmed and few days later representative said my account needs to be closed. They would not discuss other than check with ChexSystems. I got my report from ChexSystems and also talk to a representative if there was any negative report on file and they confirmed there was none. But despite that Schwab refused to discuss any further. On 1/3/23 I called per their email and requested to close the account. When I spoke to representative to close my account even he could not believe as to why Schwab want me to close the account.

We are Sr.Citizens who need conservative management. She overweighted us in aggressive, overvalued funds instead of staying with the market. She put us in bond funds with the feds aggressively raising rates. She invested in High turnover and high yield bond funds in a taxable account. She paid no attention to market conditions and we paid dearly. Schwab must have agreed because they refunded fee's but after we lost Thousands. Stay Clear.

I recently came onboard, after searching high and low for beginner investment accounts, to handle my small inheritance, and gain interest over time. But Schwab apparently wasn't the right vessel. Because after creating a new brokerage account, my email got spammed with incessant messages to repeatedly verify my account, on top of marketing offers, and whatnot galoot. Then when I did verify, the deposits their system supposedly made from my external bank account didn't show up anywhere, despite the lame message in my brokerage account, to click on the dumb link provided. Which only took me to another page, asking me to do the same thing. Speaking with a rep. did me little good. They just filed a Tech ticket, stating they'd "look into it" Omg whatever. I'll look elsewhere for investments!

Schwab will not reimburse ATM fees like they advertise. While I have been overseas, but still in a country that has USD as the national currency and is the only currency used, they have falsely claimed the normal ATM fees are currency conversion fees and refuse to reimburse me. They state, as if it were fact, that I made a mistake and chose an additional currency conversion fee and I need to be more careful, like I'm an idiot who doesn't know what I'm doing at the same bank ATM I've used regularly since 2019. Even though I have repeatedly told them there is no currency conversion because my account is in USD and the national currency of the country in which the ATM transactions were made is also USD, they refuse to do further research. Oddly they were willing to look further into it back in 2019, when I initially encountered this problem, and have correctly been reimbursing me for such transactions up until last month.

Charles Schwab bought TD Ameritrade, where I have my 401k. They decided they didn't want any 401k's that also had Roth contribution options in them, so now I have to go through the expense and hassle of transferring my 401k to a new company that isn't them. There was no option provided for staying, just a don't-let-the-door-hit-you-in-the-rump on your way out. It was like neither company had any interest in keeping me as a customer or recognizing the incredible annoyance and time-suck involved in changing the 401k plan to another company. If you want a Roth contribution option in your 401k, or you'd like to work with a company who isn't just going to change things in a signed agreement that you had because of their whim and say piss off to you, you should not bother to look at Schwab or TD Ameritrade.

Had a bad experience with a representative on the company on the phone. Needed to open an account to buy six figures in T bills. At the meeting was given laptop (have never used) without a mouse! Then told this was taking too long so I was left to complete the account opening myself and was told to leave the bank checks at the desk. Just left after spending twenty minutes with the branch manager was was genuinely upset at what had taken place. Doors had been locked when I was ready to leave which visibly pissed off the manager. A joke.

They tell you that they have processed your request when they have not. I recently changed places of employment and wanted to consolidate 401k in my new employer's plan. They kept telling me for over a month that they had sent the funds over to my new 401k but did not. I just got an email from them today saying they were processing it. When I had called and spoke to them they said it was already done and that the problem was with my new 401k provider. They lie and tell you what they think will get you off the phone the fastest. Would not recommend for anything. I feel that if they would lie about the processes then they would lie about anything.

I have tried to get Schwab to recognize my late husband's will with a Beneficiary Designation form that is recorded and signed. They say they do not have a Beneficiary Designation reflecting his wishes and that I will need obtain a court order for them to distribute according the will and willing to provide me with the contract my husband and Schwab agreed to. I have offered to provide emails and hand written instructions to the law firm, Valensi Rose, and the signed and recorded instructions in his will. They are putting the onus on me, Jerry's widow, instead of acknowledging that perhaps they did receive it and it did not get filed properly.

3/30/2022. It is the worst of the worst bank in the whole universe. From 2018 the bank regular staff, supervisors and local branch made non stop mistakes providing inaccurate phone customer service. I always wrote down the name of the staff I spoke to. Even today it was Kalsey who closed my account without my authorization. I asked her if mailing a cashier check balance to me would close my account? She confirmed NO. Wrong! Liar! My account was closed. That bank cannot be trusted. Be aware and do not open an account. One star is too much for that mediocre bank of my nightmares.

I have an account with Schwab- a wire was incorrectly sent and returned. It is 5 days later and Schwab still has no idea where my money is- how can you deal with an organization that operates like this? I have been ran around from day 1 when I requested the reverse the wire which they refused. I would suggest dealing elsewhere- I had to give one star since 0 was not an option.

Well, they stole over $600.00 from me and when I caught it just minutes after they did it, I was placed on hold for 45 minutes of 85 minutes it took to solve plus I have to front the money that goofball made in over drafting my account. I only have 2.4 million with them, but it is not leaving because they can't do simple math.

I made a mistake on my CS app and complained that my 100K deposit wasn't posted. Called customer service. They put in hours called my National Account Rep who put in hours to clear it up. I put the wrong check image on the app deposit system. The help I got was outstanding by NR Kane.

I suggest Schwab better educate their associates on transactions or provide reliable and available experts in transaction areas. I recently called the toll free number and the associate was not knowledgeable about a transaction to transfer funds into my Schwab account. I was put on a 10 minute hold, where I'm sure they asked someone else what I was talking about, and my answer was: "I'll send you the form." They couldn't explain the procedure and why I needed a blank form that Schwab was supposed to execute and send. I was transferred to what I assume was a "more knowledgeable" person who had no idea and put me on a half hour hold. At this point, I knew I was being passed on not to answer my question, but to get rid of the call. Finally, I wised up and called the Schwab office in my hometown. They knew exactly what the procedure was, promptly executed the form and forwarded it to the third party to complete the transaction.

Trades have no or small fees. You can build your own portfolio or use a advisor and let them do all the work for you based on your final goals. Financial advice and explanations of what different investments types are all easily located with the web site tools as well as research reports on companies or investment funds. It is easy to complete transactions yourself and when you need assistance they are only a call away and very polite and helpful. Security is also a high priority.

I recently deposited a 401k roll over check into my account. My account was suddenly suspended for suspected fraud!!! They’re holding on to MY money!! I chose to do business with them because of the excellent reviews I’ve read but my experience hasn’t been so pleasant. I don’t know why they’re still holding on to MY MONEY and giving me the runaround. Be warned!

This company sucks. If I were you I would pull your money ASAP. In a bind and want to borrow against my 401k. They have had the pay off for my old loan for a week. What the hell takes so long to punch a few buttons on a key board. This company has cause the failure of many aspects in my life due to their snail's pace of what they like to call work. I will be pulling every penny of my 401k, my children’s savings and my whole family will be pulling their money out too. I suggest you do the same.

It would take forever to explain all the problems we've had since depositing my husband's 401K with them in an R.O.B.S. rollover earlier this year. It was supposed to be for only a year or so until we firmed up our business plans. With the pandemic and insanity going on, things got put off. Anyway, this review may seem like it goes on forever, but I can't even begin to complain enough about all the many things I detest about Schwab. I wish we'd been able to see all these other reviews before then, but Schwab was the place recommended to us by our R.O.B.S. provider. We were immediately told that we could use their "Intelligent Portfolio" to have our funds managed, which was a huge relief since we knew zip about investing, and I personally liked it that way. I say we knew zip, but I knew LESS than zip, and had no desire to try to "manage" our own portfolio!

This is the worst bank. The checks that I wrote from my other personal account to open a new account with Charles Schwab have cleared. My other schwab told me that they cannot have the funds available for more than a week. This is ridiculous. It's a mistake of opening account here and their customer service sucks because they put you on hold for long time and then after that they talk about the personal stuff keeping you on mute. Such a bad experience in a mistake of my life opening a account with Charles Schwab. It's too late for me now. So make sure you don't get screwed. Even their customer service verified the funds with my other bank that got cleared and still hold my money. I will eventually close this account once my money gets posted and won't ever do business with them. Beware.

They were hired to be co-trustee of our family member's living trust. Our family member died on January 4, 2021 and still have not finished the estimated taxes and closed the trust down. They never once reached out by phone or email to myself and family to keep us informed and updated except when we called and inquired/complained. I was told by the representative I spoke with for our trust that it usually takes at least 6-8 weeks to close it down. Then they said 10-12 weeks, then 3-4 months. Finally they are just saying, "in the coming weeks". They are dragging their feet. In the end, going through Probate would have possibly been quicker. I would never willingly have any trust set up or managed by Schwab ever again! Such a disappointment! Frustrating!

Already have a brokerage account and wanted to open a savings account. Long application process and uploading of documents. Waited 2 weeks and finally called after long wait on phone was told that it takes time and I would hear soon. One week later I go on chat and ask for update. I was told I had missing information and to submit whole new application! I cancelled application but am concerned about all my information on file. Waste of my time.

Terrible customer and unreliable website for trading. It took them 7 weeks to conduct a trade inquiry because of their website issues. Customer service rep called me today after repeated attempts to get a status. He was extremely rude and basically blamed me for selling the shares. So the risk was all mine and they waited 7 weeks for the stock to turn around so they can tell me you didn't lose money. Horrible experience. Moving to Merrill. Stay away from them.

I have been a customer for 8 years. Their customer service has become terrible, almost non existent. It is impossible to talk to anyone helpful or to do online chat due to long waiting times. If you do connect, they seem to be totally clueless. If you send an online message, you will never get a response. I inquired about bringing in new money to my account. Got no response at all 20 days later. You would have thought they would jump at the opportunity of a large new investment. I opened up a new Roth IRA account. 6 business days later it is still not active with no indication of why. I contacted the local CS office, & they could not help at all. Got through on chat, with the same result. "Sorry can't do anything. Just have to wait for Operations to look at it".

I opened both a Schwab checking and brokerage account in 2013. I never used the checking account feature regularly until 2019. I regret closing my Wells Fargo account and switching to this terrible company. I have had nothing but endless problems from day one, but in 2020 and now 2021, it has become inexcusably awful.

This is the worst brokerage I have ever used, and I've used most of them. There is literally no way to email them. You have to "chat" except the chat never connects. Phone calls take hours on hold and then hours more after they transfer you. Avoid this brokerage like the plague. Fidelity - great service - answers calls immediately. Etrade - can send messages so you don't waste time. Schwab - never lets you talk to a human. Seriously this company is the worst.

Any wait time to inquire about your brokerage account, and simple questions on fees and transfers takes longer than 2 hours. Not a one-off occurence either. Entire week of waits. Tread at your own risk.

For three months I have tried to reach a person to speak to regarding investment management for Expats. I have called many times, (on hold for 20-30 minutes, usually disconnected) I have messaged them on their webpage, I even called a branch office who transferred my call to the same 'on hold' experience. Why would you trust a company you can't reach with your life's savings and investments?

I have been a customer for 30+ years and for decades Schwab & Co has been the go-to place for small investors. The last 6-8 months has witnessed a steady record of poor experiences with this company. The trading platforms (Edge) works fine in a Goldilocks environment and most likely on a windows machine. If your computer is a MAC be prepared for a whole host of problems most of which are slowness and crashes if you go too fast.

Charles Schwab is a very good company if you intend to trade a few time a day or less. You can reach knowledgeable people via the phone if there are issues or you have questions! However, day traders should stay away -- latency issues, servers going down, sometimes you cannot get out of trades (two times already this week). Unfortunately, it appears their systems weren't designed for scale. The growth in traders and trading volume has created an enormous problem for their IT and call centers.

As a Schwab client for decades, it's apparent that going from a discount broker to leading wirehouse today has eroded service. Outages-telephone, online failures e.g., are becoming more frequent. If this keeps up, core clients with high balances will look elsewhere.