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Charles Schwab Bank Customer Reviews

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Charles Schwab Bank Latest Customer Reviews

FuckSchwab's Profile Image

Reviewed by FuckSchwab

Aug 21st 2014

1 out of 5 marks

Charles Schwab is the Worst Bank Ever!

Stay Away! Horrible! You will be sorry if you bank Here! Just get ready to waste the most precious thing on this earth if you bank with Charles Schwab! TIme! Problems with Debit/CreditCard, Slow Updates, Customer Service cant do shit for you.Name it they can fuck it up.The Experience is just a plain Nightmare period!

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David20581's Profile Image

Reviewed by David20581

Jun 20th 2014

1 out of 5 marks

Money locked and no one cares or does anything about it!

I recently opened a Schwab Bank account because CNN called them one of the "least" evil banks today. I was using them just fine for over a year with no issues or complaints at all. They assured me when I signed up that even though there are no "local" branches near me in Minnesota I could call into the 24 hour phone line and request temporary ATM limits to access my money if necessary and so forth, so I went ahead and did it.

Yesterday afternoon I called in to get a temporary 24 hour ATM card limit increase because I need to take some cash out for a international trip I have coming up. They hung up on me while I was on hold to confirm the limit has been raised for 24 hours. When I went to use the ATM it didn't work, so I called in to find out Instead of raising the limit they blocked all of my 3 ATM cards from being able to pull out any money and no one on the phone there knows how to lift the block. It's now been over 24 hours and not only have they not increased the ATM limit on my card for me, they blocked all my ATM cards from withdrawing any money.

I've talked to customer service reps, managers, supervisors and now the "Client Advocacy Team" but still nothing, no one knows why my ATM cards are blocked, no explanations as to why its happening and no date if ever that they will be unblocked. Only way to get my money now is to close my accounts and hope they issue a check for the balance because they refuse to call me back or explain why they've locked my ATM cards, and I'm not willing to "FLY" to the nearest branch just to withdraw my money.

Think twice before putting your money in the hands of Schwab, at any moment they may lock your account, say no one knows anything, and leave you high and dry for an "unknown" amount of time. Today is Friday so I'll have to cancel my upcoming trip on Sunday because the department that put the block on my account that apparently no one can get a hold of is closed on the weekend.

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isldgrl2008's Profile Image

Reviewed by isldgrl2008

Jun 9th 2014

1 out of 5 marks

Horrible Servicing

My experience with Charles Schwab has been a nightmare. They are very slow in processing disbursements. They give the same scripted answers and lame excuses -- one more day, two more days, by Friday, by Tuesday-- but nothing is done.

My online account is not accurate and the customer service representative stated that it is not always updated accurately. So the online account is inaccurate, you call and the customer service representative give you lame excuses and inaccurate time frame and meanwhile the days go by and nothing is done. They are still holding my 401k and my Roth funds. The Roth is not vested but they told me the do the 401k first "then" the Roth, really?

I left my employer 30 days ago. They also try to scare me about withdrawing the money about taxes and fees, trying to convince me to keep my money there. No way. They are horrible. Fidelity gives me my money in my bank account within 3-5 days!

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jjdmiller83gmailco's Profile Image

Reviewed by jjdmiller83gmailco

May 13th 2014

1 out of 5 marks

Biggest collection of time wasting slack jawed lazy excuse making waste of skins I've ever seen

I read reviews after reviews, searched high and low to find a bank like what they claimed to be, then when I decide to work with them, its next to impossible to get a straight answer or even to open it online or on the phone. Then when they mess up, you're screwed because then they take your personal info and run with it -- and you can't fight it. Schwab is nothing but a wanna-be wise guys screwing the lil guy. If your one of the big wigs I'll see you in the bar when Schwab is done making you a lil guy like me

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jogden's Profile Image

Reviewed by jogden

Apr 14th 2014

1 out of 5 marks

Copy of check refused to deposit

I had a copy of a check I needed to deposit (original was destroyed) in my Schwab account but the local branch manager (West Portal Branch in San Francisco) refused to accept it. Telling me it was not "standard" even though the copy is as legal as making a deposit through your smart phone where you take a picture (create a copy) to deposit it. Very frustrating experience. Now I have to go back to issuing bank, request a stop payment on the old check and have them reissue all to satisfy this middle level manager who does not understand common banking practices.

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ajarnlindsay's Profile Image

Reviewed by ajarnlindsay

Apr 12th 2014

2 out of 5 marks

Irresponsible and rude

My mother died leaving the bulk of her estate with Schwab in a stock portfolio. Schwab allowed someone to change her address fraudulently over the phone and sent dividend checks to this address after she died. These checks were cashed and once I found out, I filed an affidavit about the fraud. Schwab did nothing with the affidavit for months and when I called to follow up claimed it was not sent. When they 'found' the paperwork, they then claimed it was too late to complain. I went to the Client Advocacy Team that did not communicate with me and was downright evasive and rude about the issue. They complained that they did not have enough information even thought they have the address of the person that committed the fraud!

I am not satisfied with their service nor the level of security they provide. Even after they knew that fraud had been an issue with this account, they did nothing to enhance their security procedures. I'm left with the cost of the fraud and even after filing an OCC complaint, they continue to ignore a substantial sum that was stolen from the account.

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dahaase's Profile Image

Reviewed by dahaase

Mar 24th 2014

4 out of 5 marks

Best banking experience I've ever had

I was with Bank of America for a number of years. As their service declined to basically no customer service, I decided to change switch over all my accounts to Schwab, where I have my investments. So far, I've had no complaints. I've felt the customer service has been excellent. I hardly ever have to wait to be helped and each time it's with a live person in the U.S. They have always been polite and knowledgeable. I have had no trouble using my phone to make deposits. In fact, they generally get credited to my account within 2 business hours.

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franwex's Profile Image

Reviewed by franwex

Mar 2nd 2014

5 out of 5 marks


I decided to write a review to counter the poor scores written on this site. Most people are inclined to write a bad review than a positive one anyway. My experience with this bank has been top notch. They detected fraud and contacted me, they reimburse ATM fees that I was charged by OTHER institutions. Customer service is local also. Not sure how these other dunces of reviewers could mess up something as simple banking. You put money in, and you take it out when needed. Adding and subtracting. Not rocket science. Cannot figure that out? Maybe you should not have a bank account. Did I mentioned that this bank offers FREE checking with no requirements? Or that the checking account is subject to APY? That is something not even your oh so spectacular credit union might do!

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Tantillley's Profile Image

Reviewed by Tantillley

Feb 10th 2014

1 out of 5 marks


Charles Schwab allowed the fraudulent reporting of a illegal account to leave a single mother of five with a debt from the IRS totalling to date 2.8 million dollars. Despite receiving a Court Order to transfer and reproduce paperwork to correct the illegal reporting and transfer the account to the felon known by them, and despite acknowledging that all signatures on the account documentation were forged, Schwab still refuses to comply in an ethical and moral manner. Schwab has been in receipt of the documents to prove my innocence since 2001 yet they concealed account documentation until 2013.

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RAA's Profile Image

Reviewed by RAA

Feb 5th 2014

2 out of 5 marks


Being a long time Schwab customer, I have had several bad experiences with Schwab Bank.

The most recent was Schwab/Quicken's failure to honor a check written against my Home Equity Line of Credit.

Not wanting to use my Schwab RMD, I used my Line of Credit to pay my Town Taxes.

AFTER the deadline for the taxes, I received a letter stating the the check was not honored due to "ACCOUNT CLOSED FOR DRAWS", in other words the account was closed! No notification was ever received.

What a way to treat a long time customer, never missed a payment, at the very least a phone call would have been nice, instead of causing me a late payment penalty, not to mention how it is going to effect my credit.

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RavesHere's Profile Image

Reviewed by RavesHere

Jan 14th 2014

1 out of 5 marks

Incompetent Employees Make For A Useless Bank

Haven't really been able to do much banking. They have been unable to deliver my debit card, basically the first task of a bank in this age. Granted I am located in a foreign country, but come on, mail is mail. When the first card returned to them, don't you think they would have noticed it and contacted me? No. Silence. Could they give me a tracking number through their message system or by email? No. Or maybe yes? Did they? No, of course not. What would it cost to send it to me? Some said 15 dollars, others didn't know. Apparently they just don't do mail. When you send them a lengthy, detailed message with a hand-written letter of authorization do they take 10 seconds to respond? No, an automated message leaves you guessing. If you ask 10 Schwab employees just as many questions, how many different answers will you receive? Do you really want to find out?

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LAS's Profile Image

Reviewed by LAS

Dec 23rd 2013

1 out of 5 marks

It was absolutely terrible.

I tried to verify my account over the phone, and I had all forms of ID available for verification. I had my Drivers License, DOB, Social Security, Amount in my account. But apparently "it wasn't good enough for verification". I was transferred from branch to branch across the country to help me. And I was lucky if they picked up the phone. Horrible customer service.

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thrdstep's Profile Image

Reviewed by thrdstep

Dec 22nd 2013

5 out of 5 marks


I think Charles Schwab Bank is great!

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TaniaPrice's Profile Image

Reviewed by TaniaPrice

Oct 12th 2013

1 out of 5 marks

Schwab profited on fraudulent account leaving victim with 2.9 million dollar debt

Charles Schwab fraudulently concealed underlying act of fraud when they refused to report fraudulent account to authorities. They further concealed the underlying act of fraud when they reported the fraudulently used Ssn to the IRS resulting in the victim acquiring a 2.9 million dollar debt. Charles Schwab refuses to abide by a court order transferring the fraudulent account to the confessed felons Ssn. Charles Schwab made money on every illegal act felon committed. Charles Schwab aided and abetted felon in fleeing jurisdiction when they concealed the underlying act of fraud.

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swimmer's Profile Image

Reviewed by swimmer

Aug 16th 2013

5 out of 5 marks

Schwab Bank brings the warmth back into banking!

I've been with Charles Schwab Bank for about 5 months now. With the exception of my local community bank, I've never met a large corporation who goes out of their way for their clients. No ATM Fees anywhere in the world, reimbursement of other banks ATM Fees, and free checks. With all of these great benefits, they still offer an interest rate on their checking account.

Curious about the brokerage account, I called and asked how to begin investing. The broker who answered spent over 3 hours on the phone with me explaining the different investing options I had at my disposal. I started investing about 20% of my bi-weekly paychecks into mutual funds, and was very surprised to find the linked brokerage account had a plethora of fee-free funds I could trade with. So even with the constant trading and ATM using, Schwab has yet to charge me a fee.

Personable. I walked into my local branch during the pouring rain to deposit a check. Not only was the clerk greeting me and chatting about the local news, she worked diligently to process me out as quick as possible. As I was about to leave, she offered an umbrella to me. The Representative said, "we keep these here for when it rains, so our clients are able to walk wherever they need to go, without getting wet." Surprised and grateful, I took the umbrella and left.

What really impresses me, is I'm a young college student who has just started life. With less than $2,000 in the accounts, I've been treated like the most valuable customer.

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SamAnderson's Profile Image

Reviewed by SamAnderson

Aug 11th 2013

5 out of 5 marks

Excellent, Leading standard

So far I have been with Charles Schwab just over a year. I have needed to make few phone calls due to opening new accounts or enabling new feature on my account. Well, I have to say I was pleasant every time that I had to talk with them. They are very responsive, unlike most banks which you have to wait in phone line for over 10 minutes. These guys are waiting for you 24 hours.

Second of all, web user interface of their website is clearly top standard in industry I think. Most bank websites are clunky and old fashioned. However, their website's user interface is very user friendly and direct without useless information.

I use have been primarily using brokerage account with them, but have recently opened a new bank account with debit card because they do not charge you ATM withdraw fee at all, no matter which ATM machine you use. Even if you take out money from one of the ATM machines in Nigeria, you will not need to worry about paying for ATM fee.

Also, you do not have to pay for extra $10~$20 to buy checks, which is usually the case in other banks. I recently moved and I want to update my address on my check. Chase required me to pay $20 for new checks, while Charles Schwab gave sent me checks for free. Sooner or later, I will probably move all my money from Chase Bank to Charles Schwab Bank.

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abraham's Profile Image

Reviewed by abraham

Jun 12th 2013

1 out of 5 marks

My experience with Schwab bank was a nightmare.The people I had to deal were complete idiots,retarded .

I have been a client at schwab brokerage for many years.I asked for a small fraction of monies I kept at schwab. Gave them 3 yrs. of tax returns, everything they asked for. After 3 mo.I got refused because they said they could not verify my employment.I am a physician in private practice for 22 yrs.After a horrible experience with idiots at schwab bank I paid off my loan completely with the monies I kept at schwab .So basically I was asking for a loan from my monies while getting zero interest at schwab and willing to pay them 5% on my monies.The Idiots I had to deal with I rate zero .You should have a zero number on your scale.

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Piller's Profile Image

Reviewed by Piller

May 9th 2013

1 out of 5 marks

Nice Checkbook Cover. I didn't like constantly being harassed about doing brokerage business with them.

I had a Charles Schwab Checking Account. I was impressed with the quality of the checkbook cover they sent but that was it. Nothing special about their website for banking & it just became purely annoying with them constantly trying to push their brokerage services. I had no interest whatsoever because I am with Vanguard already so I really didn't need Schwab because even though they are about the same in a few funds, Vanguard has vastly more low cost options. Eventually it got to be too much so I just closed the account. I decided after this experience to never mix checking & brokerage accounts!

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McSweeney's Profile Image

Reviewed by McSweeney

Feb 11th 2013

1 out of 5 marks

Don't bother applying if you have less than ideal credit

I made an account and was made to believe the application process was going smoothly, having my banking information confirmed and being able to log in to the website with my account credentials. Two days passed and I was unable to log in with no warning or notification as to why.

I had to ultimately contact customer service and found out they had decided to close my account, presumably because of one piece of negative information they found in my Equifax credit report.

If you have less than ideal credit like me, I'd recommend trying either Fidelity or TD Ameritrade. I've trialed both for a month now, and everything has been running smoothly with my banking information tied to both accounts and subsequent transfers made very easily. I've ultimately chosen to stick solely with Fidelity because of personal preference for their web and mobile interfaces.

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Max_Power's Profile Image

Reviewed by Max_Power

Jan 28th 2013

5 out of 5 marks

Fantastic, all around

I've been with schwab for about 1.5 months now, and I've been extremely impressed.

I was reluctant to go with such a large corporate institution, but my experience has only been positive. I don't know what a guy has to do to get charged a fee at schwab, but, I haven't been charged one yet. In addition to the niceties you'd expect from a well rated online bank (free atm use at any atm, no maintenance fees, free online billpay, etc.) there are things here you simply can't find anywhere else:

1) Free checks. I don't mean you get your first 100 checks free. I mean free checks. Always.

2) ATM fee reimbursements. I don't mean, reimbursement of the first $5 per month. I don't mean only in your state, or even your country. I mean, reimbursement of ALL ATM fees, everywhere in the world. That's right. I can take money out of an ATM in Thailand and they'll reimburse the fee.

3) Speaking of Thailand, no currency conversion fees. Other banks, in addition to not reimbursing international ATM fees will also charge you a percentage of your withdrawal just for 'converting' it to the local currency. Schwab does not charge this fee.

Aside from that, I've had to call customer service a few times. Awesome. It's not farmed out to India. It's not some stoner playing angry birds while he's talking to you. I'd swear I was talking to a real bank manager everytime. I generally hate calling customer support but, everytime I've hung up the phone with a schwab representative, I'm downright ecstatic that they are my bank.

You know, the concept of a bank fails without depositor accounts. I don't mean they'd do less business or make less money. I mean there simply would not be banks without depositor accounts. So, it's really nice to finally find a bank that 'gets' that and treats depositors as they should. Which is to say: grateful to have your money in their bank.


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ericjackson0's Profile Image

Reviewed by ericjackson0

Nov 27th 2012

5 out of 5 marks

Easy and stress-free

I have an investor checking account with them, along with a savings account which I split with Ally for the better rate.

So far, I've had nothing to complain about, which says a lot given some other reviews on this site. Their mobile app works great on my tablet for depositing checks; the money appears the next day in most cases.

The few times I've spoken with customer service, the reps have been professional and taken care of my issues quickly, so no complaints there, either.

I've been happy so far and would recommend Charles Schwab. It's a bit strange having to open the brokerage account in order to have the checking account; it just sits there empty for me as I have no interest in using them for that.

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drpgleeson's Profile Image

Reviewed by drpgleeson

Oct 5th 2012

1 out of 5 marks

Deceitful, indifferent, bad bank

Having had a Schwab brokerage account for over 30 years, I thought that borrowing from Schwab Bank for the construction of our new house would be an exercise in

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woodycakes's Profile Image

Reviewed by woodycakes

Sep 7th 2012

5 out of 5 marks

The most friendly, well-equipped, no-hassle banking experience ever!

There are fantastic features of schwab that make it the best banking experience I've ever had. I have my checking/savings/brokerage/IRA/401k ALL through schwab, and I never pay fees for ATMs, transfers, deposits, checks, ETF trades, or annuals. There are no minimum balances, and you can start with only a brokerage/checking account. In addition to the great features, I get immensely great service through the charles schwab mobile app for iPad and iPhone where I can not only check on my accounts, but take pictures of checks for deposit (into any account I have) and do research for stocks, funds, and ETFs. Plus, if I call with a question, or visit my branch with an appointment, I get helpful advice from certified financial planners that are intelligent, well mannered, and WANT to build a relationship with you to foster your growth. Heck, I even get a quarterly magazine with great investment advice that I can also view on my iPad. This review may sound like I'm financially savvy, but I started using a simple schwab checking account while I was still in college, and as my career and wealth begins to grow, Schwab has helped me along the way for over 6 years.

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jhaberer's Profile Image

Reviewed by jhaberer

Jul 14th 2012

1 out of 5 marks


I wanted a business checking account to replace my E-Trade account. Instead, I was given a brokerage account that you could write checks from. The starter checks (4 total) never came in the mail. I had to call a 3rd time to get checks sent to me and it was originally going to take 2.5 weeks to arrive. The full book of checks are still going to take 1 week to deliver. Each time I called, I told the representative that I wanted to use the account as a checking account and yet no one realize that I would need more than 4 checks? I'm sorry, but Chuck needs to get his GED.

I'm so unhappy with how much time I've spent dealing with this company.

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Navy's Profile Image

Reviewed by Navy

Jun 12th 2012

1 out of 5 marks

Terrible customer service, 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 betwe

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chrisbeaver71's Profile Image

Reviewed by chrisbeaver71

Jun 12th 2012

1 out of 5 marks

Absolutely terrible

I'm reviewing charles schwab online banking/brokerage. I don't have much to say because I never got a chance to use it.

I signed up on a friday. All went well. On monday I was able to login in and see my accounts, they even found my optionsxpress account and linked it to my brokerage with them. I was just waiting for my checking to be approved.

Next day I try to login in. I get a message that this account has been closed. No phone call, no email. THEY JUST DECIDED TO CLOSE MY ACCOUNTS.

I tried to call the number they suggested and they couldn't find my info on the automated system. Bottom line is that this company is a scam.

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KathH's Profile Image

Reviewed by KathH

May 21st 2012

5 out of 5 marks

Wonderful Customer Service. Clear Explanations with Minimal Fees.

I'm in the process of moving most of my banking activity from Bank of America to Schwab. The fees are reasonable and avoidable. They don't care that I don't have a lot of money; they don't charge for sending money to the BOA Account. BOA charges for transferring $ to Schwab.

The entire experience has been painless. Schwab told me what they were going to do and they did it. Remarkable!

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McCracken's Profile Image

Reviewed by McCracken

May 7th 2012

1 out of 5 marks

Our opinion of Schwab Bank mortgage is they are not to be trusted at all!!

It is our Opinion that they use bait and switch tactics, lie and go back on their word.

Am pulling our mortgage and the rest of our investment accts including 401 k and IRA acct.

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Penguin's Profile Image

Reviewed by Penguin

Mar 19th 2012

2 out of 5 marks

Opening a bank account online with Charles Schwab is the worst experience dealing with a bank ever.

Pros: Charles Schwab has friendly sales persons when you call them and great fees for checking and savings accounts.

Cons: Their sales persons don't actually follow through with what they say they will do! Every time I call, they are in a different location (they say their name and State.) While this makes it clear that they are based in the U.S., it's hard to have any sort of accountability. I have called 3 times to close my savings account and have my check mailed to me and I don't feel like there is a central supervisor to make sure this is all happening. I am still waiting on that check. In addition, opening up a bank account with them is ridiculously difficult because you have to do it all online, on the phone, or via mail. When they needed me to verify my address, they said I had to go into a brokerage office. That may have been the easiest way to open the account in the first place, (to just go into the brick and mortar establishment,) but Charles Schwab has very few of these, and they are far away from where many people live. The attractive ATM fees initially made me want to switch 100% away from Bank of America to Charles Schwab, but after the terrible customer service, (friendly and nice, but didn't get the job done,) I decided that I would stick with Bank of America. I didn't intend to use Charles Schwab for my brokerage account-- I was using TD Ameritrade already. Therefore, I don't know what the experience is from that end. However, I just know that banking is one of those things you need to have in a physical building because when you need to sort something out, it is much easier to just talk to a person in front of you, than it is to work it out online or over the phone.

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dennyboy34's Profile Image

Reviewed by dennyboy34

Mar 16th 2012

1 out of 5 marks

The Worst For A Refinance Mortgage - Stay Away!!!

Charles schwab bank is by far the worst bank i have ever dealt with for a refinance loan. In my case, they hit me with fees not on the good faith estimate (gfe). On top of that, they scheduled a closing before they had all the paperwork ready, and only realized 1-hr before the closing. Nice. They have loan processors who lie and say they will call you right back and never do. They have loan processors who can't count to 3 and screw up the hud-1's (in their favor). They couldn't close my loan in 90-days and then charged me points to extend the rate. Stay away from this bunch of amateurs!!! You have been warned!

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