ComplaintsforCharles Schwab Corporation

• Initial Complaint

  09/25/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I am filing a formal complaint against Charles Schwab for failing to provide access to my account information and for misrepresenting the availability of their 24/7 customer support. My account, which exceeds $10,000, was transferred from ************* due to the recent acquisition, and I urgently need my account number for compliance at work.On [insert date], I tried multiple times over a 7-hour period to reach their phone support, which was unavailable despite their claim of 24/7 service. I was advised by chat that I needed to call to get my account number, but when I requested alternative assistance or a transcript of the chat, I was disconnected without resolution. This failure to provide access to my account information raises concerns about compliance with regulatory standards.I ask the BBB to investigate Charles Schwab for potentially violating consumer protection regulations by withholding essential account information and misrepresenting their service availability. I also request their intervention to ensure I receive immediate access to my account.Thank you for your attention to this matter.

  Business response

  10/07/2024

  See attachment for resolution.

• Initial Complaint

  09/24/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  On date September ******* on my account ending # ****, without my knowledge and authorization $119 was missing from my account. The company reply, that it is for tax payment, which I do not agree, not approve. The money has to be returned to my account.

  Business response

  10/01/2024

  Schwab has addressed this concern and considers the matter closed. 

  Customer response

  10/01/2024

  I am rejecting this response because:   the company accept the employee action: withdraw money without account holder authorization. To other consumer: to watch your account balance.

• Initial Complaint

  09/20/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  Back story. I deposited my $1200 stimulus check into td ameritrade and was strangely locked out of my account and used ******************** to expedite that process after being read the same talking points. Fast forward td ********** customers have no fear we're transferring your accounts to **********************. Great. Received a government check this morning so I will try their mobile capture! 09/20 Entered login details viewed account last week and many many times since the td ameritrade switch but today it says I must call this number. I call the number he takes my social security number asks if I would like to proceed with a set of questions generated from public record to verify my identity and I agree. He then says oh I'm sorry we can't you need to head to your local branch. I am just glad there is only 5 dollars in there because I was one successful login away from being in the same position that I was in with td ameritrade. I would like to be contacted and receive help to verify to hopefully continue having the acct and services at my disposal. If this isn't possible then I would like to close the account. Thank you. Acct Email: ***********************

  Business response

  09/25/2024

  please see attached

  Customer response

  09/25/2024

  I have reviewed the business response and accept this resolution. Take care ****

• Initial Complaint

  09/14/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Somebody called Charles Schwab Impersonating me and got my account access suspended and my account locked, i am trying to get access to my account can anyone help me?This happened on: September 13, 2023I had about $1300 in my checking account.they have not tried to resolve the case.

  Business response

  09/24/2024

  September 24,2024
  
  Dear Better Business Bureau,
  
  Re:Case ID ********
  
  I am writing in response to the September 16, 2024, correspondence to Charles Schwab &*********** regarding the above-referenced matter.  
  
  Charles Schwab thoroughly researched the concern and responded directly to the person initiating the inquiry you forwarded in accordance with required regulatory guidelines.
  
  Thank you for the opportunity to be of service in this matter.
  
  Sincerely,
  
  
  ****** *****
  Resolution Manager
  Client Advocacy Team
  
  ************ / Fax **************
  Charles Schwab & *********
  ***********
  Mail Stop: PHXPEAK
  ***********************
  
  
  Investment Products:  Not FDIC-Insured No Bank Guarantee May Lose Value
  

• Initial Complaint

  09/11/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  A Charles Schwab account was opened up in my name fraudulently and they won't cancel the account.

  Business response

  09/12/2024

  Please see attachment for an update.

• Initial Complaint

  09/11/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  **Subject:** Urgent Complaint Regarding Withholding of Funds and Account Access at ********************************************* Dear BBB I am urgently seeking assistance to resolve a serious issue with Charles Schwab, where my funds have been unjustly withheld since February 2024. After depositing a check into my account that month, my account was locked, and I have been unable to access my money ever since.I have complied fully with all verification requests, faxing my bank statements and bank header to confirm ownership on **August 15th, August 19th, August 22nd, and September 4th**. Despite this, my account remains locked.Furthermore, the representative responsible for unlocking my account has been completely unresponsive. Despite multiple attempts to contact her, I have received no updates or clear answers. This prolonged delay is causing me significant financial hardship as these funds are urgently needed.I request immediate intervention to unlock my account and release my funds. The situation is dire, and I cannot continue to wait without access to these critical resources.Thank you for your swift attention to this matter.

  Business response

  09/20/2024

  Please reference attached file containing our firms' response.  Thank you.

• Initial Complaint

  09/09/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I opened a paper schwab one account with ********************************************* 8/19. The complaint date of the transaction is 8/21. My bank refused to verify my check to Charles schwab because Charles schwab brokerage never gives atm cards and charges bank accounts. This turned out to be true. I tried to get an ATM card. Not successful. Therefore, I tried repeatedly to close this account by calling **************. Not successful. I would like to stop the charge of 8/21 of $25.00 and close the account. I want no more charges by charles schwab on this account. I just want it closed.

  Business response

  09/10/2024

  Please see attachment for update.

• Initial Complaint

  09/06/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  On Tuesday, Sept 3, 2024, I logged into my Charles Schwab account through the mobile app to initiate a zelle transfer from my ********** account to my Investor checking with Charles Schwab. The transfer didnt go through. So I called Charles Schwab customer service and the ***resentative ******** said she needed to call the brokerage department to lift the restriction that was apparently placed on the account. She placed me on hold, but it was taking a while so she said she would call me back when it was done. So about ***** minutes later, she calls me and said everything was good and I can do the zelle again. We hang up the phone and I attempt to do the transfer again. The transfer was denied again. I called back and spoke to another *** ******** she said she needed to email ***** to unsuspend my account. She also placed my debit card order since I had transferred $100 from my brokerage to the checking. She expedited the card. Then after we hung up the phone, I forgot to ask if she ordered a card for my spouse who is joint. Also, my mobile app got suspended. Calling a third time, spoke to a male **** he said I had to wait until the restriction is reviewed; basically he cant do anything. When I asked if my spouse would get his card, he said that when a debit card is ordered, its ordered for all account owners. I didnt like how he handled the call so I hung up and called again. I spoke to a woman *** the fourth time, who seemed to be more helpful. She asked if I opened the account and when I opened it. She wanted details so that she could message the fraud department to lift the restriction. She said it would get lifted my the next business day; wrong! The next day, Sept 4, I called again, spoke to a guy that transferred me over to ****** in security, she said she would send another message and to let the fraud process investigation run its course. End of the day, I went to a branch to provide identification so that they can physically verify me. Still no progress

  Customer response

  09/06/2024

  This complaint can be retracted. A manager at Charles Schwab contacted me to let me know the restriction has been lifted. Thank you!

  Business response

  09/13/2024

  I researched the issue and worked directly with the client to reach a resolution 

• Initial Complaint

  09/04/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Entered by BBB staff LO Consumer states he uses Zelle within his bank account. He has used this feature about 4 times. Each time he has used the feature he was prompted to verify his information by phone with an agent who then transfers him to the **************** to complete the transaction. The last time he tried to use the features, on 9/2/2024, he was told he needed to go to a local branch without reason. This has happened to him once before and he was told the problem would be fixed but it never was. The consumer states the person he provided verification to sounded like the same person he spoke to the last time this happened. They refused to allow him to speak to a manager or a supervisor. He was told his account could possibly have restrictions but was never given clear answers as to what would happen with his account. 

  Business response

  09/10/2024

  Please see the attached.

  Customer response

  09/10/2024

  I am rejecting this response because:  there is absolutely no type of resolution in it. Do you see one? These persons behind this are literally saying nothing about the matter or facts at hand. Re-read it yourself. Is there any form of resolution responded to regarding the complaint. There is none. Why?? Because these persons are terroristic and obviously plan to technically rob me of my funds. These thugs are basically demonstrating that they will confiscate any account at will and back it up by talking about security purposes that are secret to them only. Why do they refuse to unfreeze my account? (Answer: because these criminals are in conspiracy to rob my funds) WHY DID THEY IN THE FIRST PLACE FREEZE MY ACCOUNT? (Answer: Because these thugs are abusing their power and authority while acting unethically under the cover of security and safety. Which is incredibly nonsensical of an excuse as it provides me harm and vulnerability in return, just where they need it be, in order to slowly confiscate my monies. Next thing one can count on is a new policy update, indicating any frozen bank accounts for so and so days may be acquired or what-have-you by Schwab Banking Corporation, or at there discretion, all the while digressing itself or subsidiaries (those in conspiracy) of any loss or consequences to the owner of the account or funds in any way.)) Notice also how they do a terrible job of acting like they are 'unsure' who am I or if the legitimate owner of the account or whatever, meanwhile having given my identity verification details literary immediately beforehand having my account frozen and the sudden cold shoulder, and the concept of needing to identify me, and in person to booth. They literally have acted unethically, possibly on verge of discriminatorily, having given my credentials for verification purposes as required. Ask about anything along the lines in-line with the facts and what you will guaranteedly receive in return is silence about any of it with the ridiculous and falsehood of being basically secret and unavailable to be discussed. ****, these persons are idiot criminals, people should find this out,  AND WILL, as I am the account owner and have all relevant verification information. They are presently in the have been caught stage and trying to do damage-control by trying to manipulate the situation and me. It would be hilarious if not being so harmful to my person, as the owner of funds in my account, mostly if not all of it, from my SSDI. They also mock me and try to bully and hustle me in trying to play there game, under color of policy, to go to one of their branches. Well what about the freeze issue in the first hand, what is the issue as to why it happened? (Answer: there is no reason, at least not without falsehood involved on their part and under color of..what? security and safety, and basically secret only to them, the conspirators.) Why not do so electronically, send any and all IDs and verification? Because it was, or is not about that. It never was. Despite the claim otherwise with the addage of policy to do it in person according to these persons.) Again, complete chicanery, arbitrary, without due cause or warrant in doing such. Call them control freaks, and behind the desk these persons cackle in delight. Believe it! They are enjoying every single part of this erroneous situation and banking off of it with the consistent compulsary demand to go to them. Watch them! Next these persons will begin to block me out completely in being unable to utilize my account in the portion that I am still able to,  by making my debit card useless. All in the form of  shibboleth, slogan, policy, security, and safety. Again, I ask, does anything coming from these persons making any sense or revelancy about anything of the matter other than what is typical for wrongdoers. These persons' criminal records should be discovered, 100% they have assault or theft or battery or drug convictions, or combination thereabouts, and very likely worse. They are likely at the very current moment acting on crimes, aside from the one against me, or accessory to. I have no doubts about it, not a sinch!

  Business response

  09/11/2024

  Please see attached

  Customer response

  09/11/2024

  I am rejecting this response because:  it is on the same farce. Without substance whatsoever in accord to a resolution whatever. Literal meaningless bumbling jargon! This is another tactic- PAY ATTENTION- these persons will redirect back to the same message as the present one, where their is no difference but do so as supposedly alluding to a series of an attempt to resolution, where there is still is not one in existence. These persons' next response will be met with either muteness or go something like the following: We have sent/tried/to the best of our ability/exhausted/all possibilities/within our framework, What? Policy, Security Standards, Safety of our Customers, BLAH! BLAH!! BLAH!!! BLAH!!!! (hidden between the lines) and then make a statement against my person to booth as to why their imaginary resolution(s) propositions have not been possible or otherwise rejected- again, a redirect from the cusp of the whole matter of fact. Remember, I was put into this horrid situation by these persons in spite of, afterwards, identifying myself as the owner of the bank account(s) as required. This is unjustifiable what is being done to me, and they know it, but these persons will never be capable of coming to terms about it. And never an apology or sincere, unless it is without culpable admission or an excuse, which is usually clerical, technical, etc. And again-are you getting this-yet, another misdirect. It never fails to be the modus operandi for these type of persons. (Generally speaking, my belief is starting to conclude that these type persons are incapable of awareness, let alone self-awareness), coupled with socio/psychopathic tendencies. Not literally, but metaphorically, although in real practical particulars of a ritualistic course of action, these persons basically repeat, copy, codify, and re-do, always usually taking place within a group setting, including electronically, having no capability of conceptualization themselves of this problem manufactured against me. Meanwhile, the main culprit(s) behind it weirdly feel something, some strange satisfaction, almost to the point of sickening gratification. I feel sorry for them. I will light a candle for these persons. 

• Initial Complaint

  08/30/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I requested my tax forms from Charles Schwab via **** using Tracking Number ******. I specifically asked for the past five years' worth of tax forms to be mailed to two addresses I provided. While Charles Schwab acknowledged receiving my request, they have failed to send the forms to the requested addresses. Their lack of response is preventing me from filing my taxes. I will not verify any personal information or take calls from Charles Schwab on a recorded line, due to the prevalence of spam calls.

  Business response

  09/09/2024

  Please see attachment for resolution. 

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩