Overall Rating


Charles Schwab Bank Report Card

Overall rating score 77%
Customer Rating
Financial Health
Bank Fees
Bank Rates
Mobile Deposits
Mobile Banking

Add a Bank to Compare

Bank Rates
CIT Bank
Bank Rates
Bank News
Sallie Mae Bank
Compare Banks

Charles Schwab Bank Customer Review

Post a review
McSweeney's Profile Image

1 out of 5 marks

Reviewed by McSweeney

Feb 11th 2013

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.

Is this review helpful? ▲ Yes 1 ▼ No 0

Other Charles Schwab Bank Reviews

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.

Is this review helpful? ▲ Yes 1 ▼ No 0

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.

Is this review helpful? ▲ Yes 1 ▼ No 0

Post a review View all Reviews

Sumit your question by creating a free account

Already a member?