Charles Schwab Reviews 717

A man named Alex from Denver helped me with an account verification issue and was extremely helpful. He explained everything he was doing step by step, was very patient, and helped be the bridge for me with the verification department. He helped me solve an issue I've had for a while and now I can trade!

I have had an account with Schwab since 2013 including personal and managed accounts in the total value of over $1 million. I recently got a letter that they were closing my accounts because it is their right to do so. No explanation was given and my "personal representative' hasn't returned my calls. Until this episode I had been pretty happy with them, but no more.

The process of opening an account with Charles Schwab is horrible, it took 2 weeks. Their options trading software is good but dealing with Schwab is a disaster. After Tom Sosnoff sold ThinkorSwim, the company went down hill from there. I suggest using TastyTrade instead for trading stocks and options.

You cannot do business with them. They will not open checking or savings account for you even when you have flawless credit. Apparently they do not have the mental capacity to see these 3rd party Chex company people they use are terrible.

poor customer service, it doesn't really seem like they care about their customers at all, I like signing up to all trading platforms to try it out first and will go with the ones I think, unfortunately, this wasnt the best fit for me

Be ready for them to hold onto YOUR money for over two weeks if you ever decide to use their mobile check deposit. Oh and your debit card randomly won't work at times, so be careful. Useless institution.

My stock trading and investment started almost 60 years ago. (I fondly recall sitting in a Merrill Lynch office to watch the ticker.) In the decades since, I have had accounts with all the big brokerage houses. Without question, Charles Schwab exceeds them all. They have excellent online fillable PDF forms, extensive helpful information for new investors, good customer support, and accounts for virtually every purpose. Trades are fast and executed at favorable prices. They have walk in offices over most of the US, staffed with experts. In addition to equities (stocks), you can trade CDs, Treasuries, and several other debt instruments. The also have NO FEE "Intelligent Portfolios" for both conventional and IRA accounts. Through a series of simple questions, you create your desired profile. You then fund the portfolio you have created and Schwab trades and rebalances automatically. You can edit your profile at any time and your portfolio is rebalanced automatically. If you want personal advice, you can add that feature to your portfolio for a small fee. Schwab is for everyone!

You can forget about doing your taxes early with Charles Schwab. This company is the absolute worst in getting out your 1099. If you like filing your taxes early, look elsewhere. I've had to wait until March for these people to send out a 1099. Then try and get an appointment with a CPA that time of year to get your taxes done. Your looking at April or having to get an extension.

They were complacent in the theft of monies from my IRA accounts. While they eventually caught on preventing even more losses the reality is the thief's used immediate wire transfers to Kansas State Bank and Schwab missed it completely. 20 years with Schwab and never ever was a wire transfer requested.
Now I am face with paying taxes on the stolen money at a higher tax bracket. Too many great investment houses for you to risk everything with Charles Schwab.

Transfers, withdrawals, and trades can be delayed or mishandled, with frequent documents requested repeatedly and no clear resolution.

The trading platform is complicated for beginners. Some services seem to have hidden fees

I've been with Schwab over 20 years. I don't recognize this bank as having my best interest anymore. Very sad. Threatened constantly to freeze card after buying from Walmart but a real fraud... let them post theft, even after I called 10 minutes after unauthorised fraud. I now have to wait 90 days while they attempt to contact criminals. The criminals have no location and i sent Schwab notifications of fraud on this company.
If it were Wal-Mart, fraud prevention would not allow purchase, which I'd have to force. Then I'd get call to verify, letting me know they'll freeze my card. Where are the imbeciles in fraud prevention with real crooks.
Think twice before signing with Schwab

Had setup a wire transfer a week ahead but, they did not send the wire transfer. After my call Charles Schwab sent the following day.
Extremely disappointed with the service.

Small margins call of 1900.00 last week. Wired in 2k end of the week, settled today but with today’s drop, there was a small amount remaining after the Wire settled…so they liquidated $10,000 worth of a green position that was 3 months away from being a Long Term position. Even the Customer Service rep seemed a bit confused by their actions. Very unprofessional of the Brokerage and yet another reason for me to transfer out. Miss the old Scottrade days!

Schwab did an update on thinkorswim. It now no longer functions on my iPad my pi or my Mac. Multiple calls to tech-support have indicated that I need to a buy a new Mac, B do some sort of a crazy update that nobody could figure out or c. buy a new iPad.
This is nuts!
Nothing seems to work anymore on the system. They are managing the Ameritrade platform to death.
What a shame!

I have several accounts with Charles Schwab. My spouse passed away and I am trying to process the necessary paperwork to gain control of these accounts. I was assigned a specialist who I spoke with. SEVERAL times, I have tried to provide the necessary documents needed to resolve this. I have NEVER received more horrible customer service. I have left several messages with the specialist assigned to the account. Her voicemail states that a return call would take 3-5 business days. I even made an appointment which took a week to solidify. No one called me for an appointment. I found out that the person who was to call me was out of the office for the day. I had to call back again and spoke with someone who had to "send a message" to the management team to call me back. No call back as of yet.

I was with them for 15 years, but decided to leave after they voted against the Tesla CEO compensation package. Their only justification was that the pay was higher than other CEOs, which ignores the structure of the plan entirely. To earn the bonus, the CEO had to grow the company eightfold over ten years. Speaking as an investor, I think most people would gladly accept paying a premium for leadership that delivers an 8x return over a decade.

My employer switched to Schwab from Fidelity. What a spit show. Worse service I have ever had in 35 years of having a 401k. The straw that broke my back was I can't EFT a loan repayment. I have to mail a check like it's 1965. Nobody cares and nobody can answer a simply question Hell yeah I am rolling my account over asap Schwab is crap

They have been really good to me. Always provide great customer service and all investment products you may need. I particularly love the convenience of using any ATM in the world with zero fees. I only wish cash deposits were easier. That's the only downside.

I was at my wit’s end,couldn’t access my funds but all thanks to Ravinloops I got my $90k back