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Charles Schwab Bank Customer Reviews

(30 Reviews)
2 out of 5 stars
5 Star 8
4 Star 1
3 Star 0
2 Star 1
1 Star 20

The Most Helpful Charles Schwab Bank Reviews

The most helpful favorable review
Reviewed By Max_Power Jan 28, 2013

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. -joe

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Vs.
The most helpful critical review
Reviewed By skipper29 Oct 8, 2014

Used to be Good, Not anymore

I had a brokerage account and a high yield checking account. I was using my ATM/Checking far too often (online shopping, traveling, etc---FYI: I never over drafted or bounced a check). But I decided to open a new checking account with them to better manage my finances for the holidays and the new year and close the current one. Guess what?

I was denied a new checking account due to something they perceived negative on my credit report. Not only was I denied a new checking account but they ended up closing my current one at random. I find it interesting that they kept the brokerage account alive and well. Point being, if you have good credit this bank may not be for you. I think they require excellent or near perfect credit. (yes, they do pull a hard inquiry on your credit when you attempt to open an account).

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Latest Charles Schwab Bank Reviews

  • R
    Reviewed By RWA Nov 5, 2015

    CAN'T GIVE LESS THAN 1 STAR

    OPENED A CHECKING ACCT. AND MADE AN ELECTRONIC DEPOSIT TO FUND IT.I THEN FIND OUT THERES A 4 DAY HOLD ON MY DEPOSIT.THEY DON'T RESPOND TO EMAILS AND THEY PUT YOU ON HOLD FOREVER HOPING YOU'LL GO AWAY. IF YOU ARE LOOKING FOR GOOD CUSTOMER SERVICE AND EASY ACCESS TO YOUR MONEY, DON'T GO HERE!

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  • N
    Reviewed By novelchick Sep 25, 2015

    I would give them a 0 if that was an option

    Charles Schwab really needs to work on their customer service! A week ago I spoke with an agent because I was interested in receiving a debit card before I left on a trip. I told him that I would be leaving in 2 weeks and was assured there would be no problem and they would expedite it for $15. He suggested that I go to the local branch to make a deposit and stated that as soon as the deposit was made that they could process the debit card and wouldn't need to wait for the hold that they would place on the funds ( that should have been my first clue-why would they put a hold on my money even after it has cleared my bank?) On Tuesday I drove 25 minutes to the local branch and made the deposit and was told I would need to call the toll free number to have the card sent. I called the number and was informed by another represenative that actually there would be a hold on my funds until the following Tuesday and they couldn't process the card before then. However he said to wait a couple of days and to call back once the funds had a chance to clear my current bank. On Friday I checked to make sure my check had cleared and called. I talked to the fourth representative who told me that he would need to have my identity verified by an independent representative before he could process the debit card. Now a fifth person comes on the phone and says that I can either go back down to the local Charles Schwab office and show them 2 forms of identification or I could take a "quiz." She warned me that if I failed this quiz I wouldn't be able to get my debit card. No redo. No problem on the first question. On the second question, she asked me what was the exact purchase price of a previous house we lived in 15 years ago. When I told her that I would have to look, she informed me that the time to answer the questions were limited. At that point I informed them that I just wanted to close the account. Her response simply was "fine". Now begins the rigmarole of getting my funds returned. Meanwhile I have no access to my trip funds.

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  • J
    Reviewed By jef1028 Sep 14, 2015

    Horrible Customer Service

    Schwab turned off my debit/Visa card due to "fraud protection" because I made 1 purchase out of state for $98. What made it really frustrating is they never notified me. I found out 3 days later when trying to purchase groceries. I called customer service and they blamed it on Visa. I asked how come they didn't call or email me since they have all of my contact info, and they said its not their policy. The only way you are notified is when you try to make another purchase and get denied. Then it's YOUR responsibility to call them. The person I spoke with kept saying "I apologize" but couldn't answer any other questions. I've had other issues with Schwab but this will be the last one. Closing all accounts.

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  • C
    Reviewed By cac123 Jun 23, 2015

    Truly the Best

    If you do not do your banking with Schwab you need to reconsider.

    I have had a Brokerage account with a linked High Yield Checking account for the past six years and have yet to pay any sort of fee. You get unlimited checks for free, no foreign transaction/conversion fees, and refunds for all ATM bank fees anywhere in the world.

    In addition, every time I contact Schwab I hang up the phone in a better mood than when I called. I did not even know that was possible when calling customer service before them. They connect you with agents nearby and they are all very knowledgeable and go out of there way to help you. I have never had to call them because of an issue on there end, only for advice, travel notices, or change of address.

    I have used a variety of banks in the past and they have never come close to the experience with Schwab!

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  • M
    Reviewed By mbtietest33 Mar 4, 2015

    bad experience

    bad customer service on the phone

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  • S
    Reviewed By skipper29 Oct 8, 2014

    Used to be Good, Not anymore

    I had a brokerage account and a high yield checking account. I was using my ATM/Checking far too often (online shopping, traveling, etc---FYI: I never over drafted or bounced a check). But I decided to open a new checking account with them to better manage my finances for the holidays and the new year and close the current one. Guess what?

    I was denied a new checking account due to something they perceived negative on my credit report. Not only was I denied a new checking account but they ended up closing my current one at random. I find it interesting that they kept the brokerage account alive and well. Point being, if you have good credit this bank may not be for you. I think they require excellent or near perfect credit. (yes, they do pull a hard inquiry on your credit when you attempt to open an account).

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  • F
    Reviewed By FuckSchwab Aug 20, 2014

    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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  • D
    Reviewed By David20581 Jun 20, 2014

    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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  • I
    Reviewed By isldgrl2008 Jun 9, 2014

    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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  • J
    Reviewed By jjdmiller83@gmail.com May 13, 2014

    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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