Charles Schwab

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Category: Services

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2423 E. Lincoln Drive, Phoenix, Arizona, United States

CHARLESSCHWAB.COM

Charles Schwab Reviews

Adam July 25, 2009
Scam
Charles Schwab & Co., the large discount brokerage firm, fires customer for demanding that Schwab pay for the consequences of their mistake.

1. Customer purchases CD (certificate of deposit )through Schwab

2. CD comes due

3. Customer calls Schwab to setup issuance of checks to withdraw funds from matured CD

4. Customer goes to Schwab office to retrieve checks for principal and interest associated with matured CD

5. Schwab only has check for interest due and is unable to explain why the principal check is unavailable or commit to when the check will be available

6. Customer spends the entire morning and early afternoon (4-5 hours) directly following trip to Schwab researching with Schwab customer service personnel what happened to his money (the same money Schwab's commercial is talking about when it says "It's nice taking advice from somebody who doesn't forget whose money it is.")

7. Schwab finally figures out what happened and explains to customer

8. Customer demands that Schwab pay for the consequences of Schwab mistakes (loss of use of customer's funds (which is why funds were withdrawn), additional time for 2nd trip to Schwab (2 hours), customer's time is researching where his money is (4-5 hours))

9. Schwab sends letter to customer demanding customer close all his accounts at Schwab
Ian March 19, 2009
Scam
Charles Schwab & Co., the large discount brokerage firm, fires customer for demanding that Schwab pay for the consequences of their mistake.
1. Customer purchases CD (certificate of deposit )through Schwab
2. CD comes due
3. Customer calls Schwab to setup issuance of checks to withdraw funds from matured CD
4. Customer goes to Schwab office to retrieve checks for principal and interest associated with matured CD
5. Schwab only has check for interest due and is unable to explain why the principal check is unavailable or commit to when the check will be available
6. Customer spends the entire morning and early afternoon (4-5 hours) directly following trip to Schwab researching with Schwab customer service personnel what happened to his money (the same money Schwab's commercial is talking about when it says "It's nice taking advice from somebody who doesn't forget whose money it is.")
7. Schwab finally figures out what happened and explains to customer
8. Customer demands that Schwab pay for the consequences of Schwab mistakes (loss of use of customer's funds (which is why funds were withdrawn), additional time for 2nd trip to Schwab (2 hours), customer's time is researching where his money is (4-5 hours))
9. Schwab sends letter to customer demanding customer close all his accounts at Schwab
October 28, 2008
Bad service
When we are allowed to do online trading with schwab, as a client of theirs, we use several screens to work with. one is PERFORMANCE, one is POSITIONS, one is GAIN/LOSS, one is AT A GLANCE, and one is BALANCES. whenever i enter my schwab site, i try to check my account balances several ways through the above screens. non of these screens ever match! schwab claims that they must tinker with the totals between the time the market closes and midnight their time in NY. i cant understand how, in the age of computer madness, how they can not come up with the same totals on all screens...or at least leave a sidebar indicating that the totals will be completed at some time next morning! But even next morning they are not the same. I have called them and written emails to them several times and they just dont get it.

Also, today AAPL closed at 91 and changge at the close of trading in NY. in after hours trading they shot up to 98. did schwab show it. NO!~I CANNOT TRUST THEM ANYMORE and im tired of seeing this happen!...THEY ARE MATHEMATICALLY INCORRECT!...WHAT DO WE DO? It is a hell of a lot of trouble to move my account to FIDELITY or VANGUARD or some other discount brokerage service, so i just sit there and take my ulcers, but i need some real help with this! who can afford an attorney?... The balancing act is too complicated for me...i have too many diversified investments, but they have the best most expensive computers in the business...and they cant seem to come up with coincident totals on different screens for my account!

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