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I have used them to buy and sell stock and they are wonderful. I would recommend other people to try this broker and they will appreciate the work they do. They send you a newsletter of the progress that is being made.
It is sometimes difficult to talk to a person who is knowledgeable regarding my concerns. Many times I must research on my own for answers I need. People with expertise on issues of concern to me are not always available.
From time to time their system is out, either to high activity or system failure. During those times you have no access and cannot trade. Scary!!! There are also times when their Streetsmart platform freezes. Logging back in during those times requires numerous continuous attempts.
Schwab took over our investments from USAA. The transition was smooth. Subsequently, I initiated several trades, all of which were processed smoothly and in a timely manner. Schwab's online site is easy to navigate and offers complete control over my online investing.
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.
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.
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.
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
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.
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!!!
Charles Schwab & Co. Company Information
- Company Name:
- Charles Schwab
- Year Founded:
- 211 Main Street
- San Francisco
- Postal Code:
- (866) 855-9102
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