A MyBankTracker Rating

Charles Schwab Bank Customer Reviews

(34 Reviews)
2 out of 5 stars
5 Star 8
4 Star 1
3 Star 0
2 Star 1
1 Star 24

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

Thank you for your feedback Is this review helpful?
Vs.
The most helpful critical review
Reviewed By Pee B. Jun 30, 2016

Mocked by Inherited Roth IRA Broker, They Thought I was on Hold (I've been a client since 1998...my mom recently passed away)

I've been a Schwab client since 1998 and would have been an even long-er time client but I'd rather burn my money than let these disrespectful jerks make another dime off of my hard earned money.

My mother died recently and left me a small bit of cash in an inherited IRA with Schwab. After weeks of jumping through hoops, I was finally able to transfer part of it. The first transfer was a complete debacle and took over 6 hours total, at the end of it. When I tried to do a second transfer, same complete and utter yardsale on Schwabs end.

When I called to check to see if it had gone through, the broker (Violet Collins - Indianapolis Branch) that was taking my info, put me on hold after I expressed my dissatisfaction with their recent service, then proceeded to start mocking me in a childish and offensive manner. I informed her I was not on hold and that I'd like to talk with her manager, who's name was Drew Crose (Indianapolis branch as well). He proceeded to go on and on about how sorry he was about my mother dying and I had to interrupt him and remind him that my mother's death had nothing to do with why we were talking.

I then had to explain to him that the reason, as he well knew, we were talking, was that his employee had treated a very long-time customer in an abhorrent manner. I urged him to listen to the recorded conversation, deal accordingly and follow up with me after. Not one person contacted me in regards to this. I am in the process of moving all of my assets to another company and will never deal with these unprofessional and rude jerks ever again. Way to lose a long-time customer that was just half way through a lifetime of handing over their money to you clowns.

Thank you for your feedback Is this review helpful?

Latest Charles Schwab Bank Reviews

  • B
    Reviewed By badschwab Nov 14, 2016

    Horrible bank.

    Horrible bank. Originally opened a checking account with them to avoid ATM fees and foreign transaction fees because I am a frequent traveller. However, every time I've tried to use the card, there have been issues that have prevented it. Everything takes days or even weeks to process. Usually takes 10 days to deposit a check. Expect to have to send in physical mail forms and handwritten letters for most things you want to do. Worst of all, they randomly suspended my account. When I called in to regain access, they said my birth date as well as all my other personal information was wrong. I was told to go into a branch to fix this. When I went to the branch, I was told to send a notarized letter to fix it. That sealed the deal for me and I will no longer be banking with Schwab.

    Thank you for your feedback Is this review helpful?
  • PB
    Reviewed By Pee B. Jun 30, 2016

    Mocked by Inherited Roth IRA Broker, They Thought I was on Hold (I've been a client since 1998...my mom recently passed away)

    I've been a Schwab client since 1998 and would have been an even long-er time client but I'd rather burn my money than let these disrespectful jerks make another dime off of my hard earned money.

    My mother died recently and left me a small bit of cash in an inherited IRA with Schwab. After weeks of jumping through hoops, I was finally able to transfer part of it. The first transfer was a complete debacle and took over 6 hours total, at the end of it. When I tried to do a second transfer, same complete and utter yardsale on Schwabs end.

    When I called to check to see if it had gone through, the broker (Violet Collins - Indianapolis Branch) that was taking my info, put me on hold after I expressed my dissatisfaction with their recent service, then proceeded to start mocking me in a childish and offensive manner. I informed her I was not on hold and that I'd like to talk with her manager, who's name was Drew Crose (Indianapolis branch as well). He proceeded to go on and on about how sorry he was about my mother dying and I had to interrupt him and remind him that my mother's death had nothing to do with why we were talking.

    I then had to explain to him that the reason, as he well knew, we were talking, was that his employee had treated a very long-time customer in an abhorrent manner. I urged him to listen to the recorded conversation, deal accordingly and follow up with me after. Not one person contacted me in regards to this. I am in the process of moving all of my assets to another company and will never deal with these unprofessional and rude jerks ever again. Way to lose a long-time customer that was just half way through a lifetime of handing over their money to you clowns.

    Thank you for your feedback Is this review helpful?
  • L
    Reviewed By Lmaussi Apr 20, 2016

    Mislaid my money!

    On March 6, 2016 I transferred the remaining funds from a bank in Connecticut to our checking account at Charles Schwab bank using their 'external transfer' feature, which I had used multiple times before between these two banks. To avoid paying a fee, I called the CT bank on March 8 and asked that they close the account, which they did.
    The money showed up in the Schwab account and then disappeared on March 22. I called them asking why and was told they couldn't get confirmation of the originating account and so sent the money back. I called the CT bank and they said as the account was closed, they sent the money back to Schwab on March 24. It is now April 20 and the money (just under $7,000) is still 'missing'. Schwab keeps telling me 'sorry' but obviously is doing nothing. I have a contact and a case number and all the contact says is 'sorry, we're working on it'. My question is: If there was an issue with the funds, why wasn't I contacted. They have multiple ways of doing that: In their system using the "message center", via email, phone or text but they chose to do nothing but return the funds to a closed account. The CT bank has been very helpful, calling the Schwab contact (who doesn't call back) and providing them with transaction numbers, etc. to the Schwab person's voicemail. As soon as this is resolved, I am closing the account and moving elsewhere. Customer service deserves a ZERO.

    Thank you for your feedback Is this review helpful?
  • T
    Reviewed By ThomasM123 Mar 2, 2016

    Quite Disappointed

    I opened an account with this bank a couple years back and during the process, I had deposited a personal check that took an overtly long time to clear (I believe it was close to 10 days). Which caused me to overdraft my new account (the only time I have ever done so). I tried to explain the situation as I was preparing to move all my checking funds over to Charles Schwab. But they didn't seem to understand or give me a good explanation for the length of time it took to clear the check. I decided to close my account and the representative didn't try once to maintain/retain my business. I originally really liked Charles Schwab as a brokerage, but this soured the company overall for me.

    Thank you for your feedback Is this review helpful?
  • 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!

    Thank you for your feedback Is this review helpful?
  • 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.

    Thank you for your feedback Is this review helpful?
  • 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.

    Thank you for your feedback Is this review helpful?
  • 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!

    Thank you for your feedback Is this review helpful?
  • M
    Reviewed By mbtietest33 Mar 4, 2015

    bad experience

    bad customer service on the phone

    Thank you for your feedback Is this review helpful?
  • 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).

    Thank you for your feedback Is this review helpful?

Let Us Help You Choose a New Bank

Don’t see a right fit? Answer 5 simple questions & get personalized account offer to you.