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.
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.
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!