Charles Schwab Customer Service Complaints - page 2

I have a Schwab retirement account. I forgot my ID and password and tried so many combinations that I was locked out of my account. When I attempted to contact Schwab, I was unable to send a message on their website because I had exceeded my login attempts and the phone number they listed would not forward me to a real person to resolve the problem. I guess I will have to seek out a real person to talk to if they can spare the time. I also have an account with Fidelity and I have never in 30+ years had a problem like this.

Its 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. Its 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.

I was told my money would be wired to me .
Charles Schwab made a mistake and punching in my wire number. they turned around and mailed me a check. they claim that I gave them the wrong number they read the numbers back to me I called the bank and verified everything was correct the only possible explanation is they punch the numbers in. I still have not received my money I'm very disappointed in Charles Schwab and I recommend for your 401k or any other investments that you try to go elsewhere.

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.

I have been dealing with Schwab For the past 4 long months. Their customer service is by far plain terrible. I have worked in the financial industry for the pat 35 years. I have called Schwab regarding the sale of stock In 2014. I'm waiting on a corrected 10 99 for the past 2 months. Every time I call I'm given different information. I have called Schwab 33 times on the same issue. The only reason I'm using them is my parents trust funds are held there by the trustee. I would never do any business with them for several reasons. They tell you that they will take care of a issue and it is never resolved. Shop around, don't use Charles Schwab!!

these employees are just worthless.

1: Schwab made unauthorized distributions from not one, buttwo of my retirement accounts.

2: Now they are refusing to put back my money.

3: 1st they tell me they have to go through fraud investigation and all I get is blah, blah, blah blah BLAH.

=> then I get letter STATING THEY DON'T HAVE ANY DOCUMENTATION FOR THESE UNAUTHORIZED DISTRIBUTIONS.
==> then I get email that distributions were done over the phone or online. THEIR FRAUD PEOPLE MUST NOT KNOW THAT ARE ARE SPECIAL FORMS THAT MUST BE COMPLETED AND SIGNED BY PARTICIPANT IN ORDER TO PROCESS DISTRIBUTION, NOT DONE ONLINE OR OVER THE PHONE.

I AM SO TIRED OF SCHWAB NOT PUTTING MY MONEY BACK

I have never met a company that cared less about their clients than Schwab.
Why are you still in business?
Your people are rude and disrespectful.
Do you even care about your customers?
The answer would be NO!

Mobile banking deposit service is poor. I tried to deposit 2 checks - one was rejected (I found out the next day). After going through a long phone tree, then waiting a long time while the agent looked for assistance, I was told that they didn't know why the check was rejected, but that it probably would be if I tried again.
Day 3: After being informed of the 2nd rejection, I called Schwab (long phone tree) and was told the image wasn't clear. I used my local bank mobile deposit service instead.

After some 15-plus years of dealing with Schwab in their Private Client program, I was recently given yet another new advisor, who immediately advised me to sell some of my securities and invest $250k in a Pimco Bond Ladder...for fixed income! As I am nearing 70, and need to start drawing off my Schwab portfolio for income, this sounded reasonable, even though I repeatedly said I'd never participated in a bond ladder before and had lots of questions...none of which were being answered before I invested. Still, I'm paying Schwab for their advice, so I took it. The first shocker was that Pimco paid out $230K of that money for $200K worth of bonds. So I lost $30k right off the top! And now, way too late, I'm finding out that I cannot withdraw any of the meager interest being earned by this bond ladder until the entire account reaches $300k!! At the payout rate, that would take another SIX YEARS before I can draw out one penny of interest. And even then, I believe I can only draw out the amount of money that doesn't drop the entire balance to below $300k. This little fact was carefully hidden from me during all the time I was asking questions...never once did my advisor say, "Oh, by the way, once you give Pimco your money, you will play hell getting it out." Kind of like the Hotel California...you can check in, but you can never check out. Stay away from the Pimco Bond Ladder! I'm seriously considering moving my portfolio to another company...and placing an inquiry with the SEC. I believe I was deliberately misled by my Schwab advisor for reasons I cannot begin to fathom.

My experience is that any problem you may have at Schwab regarding their proprietary products or funds, will be ignored.
Only when they lose the class action will you get any relief, as I did.
Unless you are prepared to wait half a decade for something they could have settled on the spot, I recommend against theor funds.

Charles Schwab seems not customer helpful at all. There may be a very few good customer service representatives that good at customer helpfulness, however most are very UN-customer helpful. The entire "Client Advocacy Team" is a mockery of their of their Team name, most surely all UN-customer helpful!

Administrative problems with Schwab's Wset Palm Beach office: Can't get them to change an address ad they keep mailing trade confirmations and account statements to a wrong address, depsite several formal (written) requests to chnage the address.
This, combined with the fact that it is difficulat to ever talk to a person without going through a lengthy automated telephone answering system makes Schwab a poor choice for investors.
Dr. Peter Scholla
Global Investment Adviser, LLC

Windhaven provides very low returns on agressive portfolio's - I would not suggest or recommend Windhaven to any investor. Lots of hype - no performance. You're better off on your own playing the market.

On stock dividend payment dates, paying companies make the money transfer in the morning and Schwab's policy is to hold the dividends in their own accounts during the entire day in order to collect the interest on the float. Then near midnight Schwab credits the customer brokerage account with the dividend. This is robbing the customer of a full day's use of the customer's money, so that Schwab can reap more profit from customers' money. This should be reported to the investigative press, unless Schwab immediately ceases this greedy and illegal practice. Schwab reps have played dumb every time I question them on this practice.

recently closed my schwab ira account because I was charged a 30% tax instead of the 15% ira-advantaged tax on a France Telecom stock dividend which amounted to a $300 loss for me. I was told their ADR custodian does not have any responsibility to file the necessary papers with the company. That would be my obligation. I submit that Schwab had an obligation to choose a custodian that does all ira related paperwork and not just charge a fee for holding the ADRs. I feel Schwab should reimburse me for the loss. Respectfully Alice Quilici

I am still trying to recover about $1000 from my fathers estate for years and they keep giving me the run a round. I have to have a medallion signature to have access to the account/statement however to get a medallion signature I have to have a copy of the statement. Do not trust this company, is my advice.

Poor customer service and inaccurate advice.
I lost almost 14,000 in 2008 when I got into their high yield fund which was billed as being safe as cash. After a class action suit I finally got 5,000 for my troubles, but still had a considerable loss.

This year Schwab could not determine if my 1099 was correct. When I asked a question as to why I had an unusual transaction they stated that it must have been reported incorrectly and I would get a new form, but then the new 1099 was wrong and they had to generate a new one which was identical to the first, and because there is a lack of communication between departments they then generated a 4th 1099 which was the same as the first and third one. Schwab then said they were not responsible for calculating the cost basis for that transaction.
Turbo tax asked how much of my dividends were from foreign accounts and Schwab said I should call each mutual fund I owned to determine the amount because it was not their job to provide that information, finally someone helped me, but I am uncertain if the numbers were correct since Schwab refused to provide me the documentation on how they calculated the numbers.

Schwab switched my banking account without telling me and when I called to get confirmation when one of my automatic withdrawals contacted me to see if I made a change, Schwab said they weren't responsible to tell me they changed banks. Then when I asked to get a letter documenting the change so I had the correct routing number they gave me someone else’s account information, compromising their security.
I asked for a manager to call me since I had wasted multiple hours on the phone trying to gather information that should have been provided to me and never got a reply so I contacted FINRA. Schwab finally sent me a letter 10 days after the due date set by FINRA stating that their manager never changed the body of a letter that he sent to someone else with a similar problem regarding the change in banks and that is why I got the other person’s information. And that there was a miscommunication between their departments so that was why I had so many 1099s and that they weren't responsible for this and that. Never did I get an apology or a call. All I can say is poor customer service and terrible business practices.

Friday, 18MAY could not get response from online buying after several urgent attempts to submit orders. Later, old requests began to appear and I cancelled them immediately, getting a "cancellation in Progress" status for each. Three hours later, after market close, multiple orders were filled - leaving no room for managing the transactions until 21MAY. I did not sign on with Schwab to have orders filled capriciously.

I have been trying to register a small publicly traded stock with Schwab for months. Since the share price is only $2.00, they consider it a penny stock and require 4-6 weeks to evaluate whether to let me trade it. Then as the time is almost up, they ask for more information and restart the clock. Infuriating.

Charles Schwab doesn't know the meaning of customer service, friendliness or treating people like valued customers. We refinanced a mortgage there several years ago, and I had e-mailed the mortgage facilitator at the time at Schwab how important paying down the mortgage early as we could afford it was to us and that we wanted clauses to facilitate that. When I tried to do that a few weeks ago I learned that the extra payment sat in a no-interest account until the date of my regular payment (and there was a clause, "my bad" - I didn't catch it when I read the documents - that said this would be the case. The worst was when I e-mailed and asked about it and was treated to poorly - it took e-mails and e-mails to find out why, with no warmth, no graciousness, no feeling like I was a customer, much less a valued customer. I ended up feeling so abused that I moved my mortgage (took 15 minutes on line, and I knocked another 3 years off the mortgage with a lower rate - my "good"). And, I'm moving our investments, IRAs, ROTHs etc., out as well. Charles Schwab is too big to even treat each customer nicely, so I voted with my feet - me and $.5M of business walked. Life's too short to be treated badly, no matter the level of your income or investments with a company. Good bye and good riddance.

I am getting ridiculously bad service from Schwab security people. They have blocked my
account several times in past few weeks and
today blocked again less than 12 hours after
a long phone call with them to get unblocked.
After 27 minutes of fruitless conversation I
am still blocked and they give me no reason
why. I am a lomg time Schwab customer, a very
active trader and have over a million dollars
value in my Schwab accounts. They have even
reversed my transfer of funds from one of my
accounts to another of my accounts, costing
me interest charges.
For 12 years I have had excellent service from my account executive and her office manager, but now that I have to deal with security people they seem to just not give a
damn.

There's a difference between calling Charles Schwab Brokerage, and Charles Schwab Bank, for Customer Service. As of April 17 2012, the link for this information is at: http://www.schwab.com/public/schwab/client_home/contact_us, which includes phone numbers and email addresses.

Schwab's IRA distribution form is 7 pages long, whereas my other Broker's form is only 2 pages. Also, I have to US mail it to Orlando or Phoenix, both cities are 1000 miles away from me, whereas my other Broker has a local office I can drop off at in person, as well as receive personal attention. I'm considering moving my assets out of Schwab's hands.

I opened a investment account with Charles Schwab when I was 18. When I opened account Schwab allowed me to use my friends social security number on account. The account is in my name but has my friends social. My friend went into Schwab without my permission and purchased certificates and sent them to me via private investigator. When I had certificates I was able to access the account from the account number on stock certificate. The certificates were stolen and misplaced. I dont know the account number and the account does not come up in Schwabs computer system based on my first and last name. In 1997 the account was worth 17 million dollars today I estimate the account to be worth 20 some million dollars. I purchased shares of Microsoft,Cisco and yahoo. My problem is locating my friend to get her social for I can access my account. I think Schwab should have access to my account based on first last name and address.My name is Patrick Glenn the address on account is 522 College drive Raeford NC. . I have a account with Schwab that is lost and I dont have access to

I transferred $500,000 in November to get the incentive in two different accounts. I call my broker and still can't get the bonus and can't be told when it will come. If it doesn't show up soon, I'm calling the SEC.