Charles Schwab & Co.
Reviews and Complaints

I e been a long time customer and user of this app on both iPhone and iPad. The old version worked flawlessly. The new version is terrible! First, it cannot maintain connection reliably over 1 minutes. This results in screen freezes, errors displayed - but worse is that orders are either not placed or duplicated. Schwab won’t honor these software mistakes. Furthermore, quotes are inconsistent and often wrong or severely delayed. When I say inconsistent, portfolio may say one current price, while order screen shows another and watchlist yet a third! Speaking of watchlists - they revamped them to “improve” but they ended up making almost unusable. You no longer change position of symbol in watchlist. Basically all you can do is delete and re-add from “edit”. Terrible. Old lists lock up after a couple of refreshes. New list often stop working with “oops - something went wrong”. Forcing you to end the app and re-login. Whoever does software testing for this app should be fired! It’s definitely not ready for prime time. It will fail on you during the most critical times that will often cost you real money! After more than 25 years with Schwab, this new version will probably FORCE me to go to another company.

HORRIBLE! You can't use a service if you can't use a service! Really! You people need to show values under $0.00, or else I CAN'T BUY STOCKS LIKE A NORMAL PERSON! I don't know what a stock is worth, I don't know how much I did the ASK for? It's GIVING YOU NOTHING. I, get NOTHING AT ALL, when I CAN'T FIND OUT WHAT MY BID PRICE WAS!

A stock that is .001, .0001, .00001, must be displayed as such. I can't be going online to clean up your mess for you and find the real number other than $0.00 on your dispicable app.

ALSO,

Horrible non-live stock graph, Touch ID won't work. Touch ID won't work. Horrible app. I have to keep putting in a 6 digit pin. It says you are about to cancel out the thumbprint login.. but nothing for thumbprint! Totally redundant, totally unhelpful. The stock graph. Horrible! You can't easily use it. You feel like you're using a system from the mid-pre 90's (1990's). You can't navigate to the stock easily either. You're placed in a complete loop. It's completely redundant. Most horrible software ever. I'm suprised it even stays afloat. All this money, toward an app. All this money that a stock brokerage has, and this is the CRAP that we have to use? You CAN'T be serious! Horrible! The webmasters need to be FIRED!

Updated in early 2022 this formerly great application is now all but unusable. No way to view all brokerage accounts with positions. Unintuitive user interface flows to take you to an apparent “AI Siri” type of flow which leads to a giant white screen with minuscule cartoon icons with a promise of more functionality as we suggest more. No apparent way to see positions, trade or anything that you would want to do with Schwab. You cannot even see the positions, prices and detailed changes. It’s important to note that this HAD BEEN a seriously good application. For those old enough to remember “Microsoft Bob”, Melinda Gates’ brainchild, this is even worse. PLEASE SOMEONE AT SCHWAB…. GET THIS BACK TO THE FULL FUNCTIONALITY. YOUR APP HAS BEEN BROKEN BY PEOPLE WHO APPARENTLY DON’T KNOW WHAT YOUR CUSTOMERS WANT TO SEE and DO with this app.

Schwab contacted me, challenged my review and asked me to relook at it. It is a friggin’ disaster. A formerly useful app is now made of screens which are 90% white space. There is NO WAY to do the basic functions such as looking at your holdings as a list and seeing how they’re doing.

In case anybody from Schwab is at all serious in restoring this app to its previously awesome state, you can start by going back two versions and stop the techies from reworking it into a nonfunctional mess.

Has any Schwab business user participating in the redesign and testing of this application? I would think no way or this app would not have been lobotomized.

Horrible Customer Service and Bare Bones App for trading

I’ve used these guys for over a year so I can say with complete confidence the user interface on both the app AND the desktop are sub par at at best. Trying to trade stocks thru the app gives you barely any options. No OCO’s for example you either have a limit or a stop loss. You don’t have both. Among other things. For trading go somewhere else.

I’m stuck with them unfortunately because my company goes thru them for my Equity Awards. Surprise! Problems there too... My most recent experience with the “Live Chat” for help has been horrid. The reps typing speed is agonizingly slow much like everything else with this company. And I’m STILL trying to get my issues resolved over a week later. The REP spent more time trying to educate me on RSU’s vs Options than actually fixing the problem. Hey man, I KNOW THE DIFFERENCE. Kind of condescending really. Somehow the hundreds of $$$’s I put into the account to cover the taxes for the vesting magically disappeared. What would you do if your broker just took hundreds of $$’s from you for no reason? Even if it’s a technical error it not only should have been fixed faster but shows how bad of a company they are.

You fix my problem by giving me back my $$ minus the taxes for my RSU and depositing what’s mine (the RSU’s) into my company account and I’ll add two stars. Cause your user interface is still $(-)!7. Not to mention your poor customer service and lack of dedication to consumer satisfaction.

Do business at your own risk! Was told because of my low credit score I’m not worth doing business with. They approved me and sent me email saying fund the account when I went to sign in was told my account is deleted. When I called in was told my account was deleted because they cannot do business with me because of my credit score. I had a 610. Charles Schwab left two negative feedback comments purposely ruining my credit score. Today I was called by Charles Schwab and told how dare I contact the sec, finra and the ComplaintsBoard.com. For 8 minutes this guy tried to harass me and laughed when I asked why did they ruin my credit score then apologized for laughing then said he’s in a building I must of heard somebody else and said let’s keep this to a professional level. Professional means you just part ways. Ruining my credit score isn’t professional, calling me up saying how dare I is harassment. My freedom of speech about your company is protected under the consumers right act and the first amendment. Do not do business with these folks. They’ll ruin your credit if you’re not rich enough to do business with them. When I was told initially is this how you treat veterans was told they don’t give a xxxx if I’m a veteran avoid this company like the plague

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Why would I contact your 1-800 number so you can have a brainless call tech say they don’t know what’s going on? You treat veterans like garbage. Last hr manager who spoke to me laughed at me for ruining my credit on purpose. Utterly worthless doing business with your company you can call me I’m not calling you

Richard Sheetz

I sold stock that inherently drained without appropriate ration there began a series of locks right after I voiced concern. I made a purchase on a card and supposedly needed to call in for verification yet the purchase and others kept going through except locally. I called the bank to question verification on their end while an extreme amount of questions were asked that I too questioned with the same voices as decades ago and now the accounts are locked. I can’t even see balances. This is a criminal ring.

Since exploring Schwab and getting a login, I've compared data from Schwab and TD Ameritrade.

Findings: Schwab reports errors on almost all preferred stocks as to Dividend yields and type of dividends received. I have 4 preferred stocks and they all show errors on Schwab when compared to TD Ameritrade. Others on my watch list also shows errors as to the same data.

Please fix!

On February 20th or around February 20th 2022 I opened an investment account with Charles Schwab I then deposited $12500 into my account and then froze my account till I gave my identityAnd prove my identity will I then went into the bank and proved my identity they said everything was fine and it's been 5 months since they have contacted me or giving me my money or giving me a response I call every single day

Hi my name is Rickey Saulsberry 11/15/[protected] I have been totally abused by this bank from my Character as a 22 year old veteran of The United States Military first and far most but more importantly as a American Citizen of the USA I went through and still going through things to where my Health plays a very big part of my life my daughter died from Cov-1 9 and I'm raising my Grandchild and being the soul provider of my family working 6 days a week for me to be locked outta my account for a month and 2 weeks to being back in my account jus to be kick out 20 mins after Know I have one of your personal telling me I can't close my account because I refuse to lay down to this dramatic treatment is very ridiculous and I want stand for it hopefully someone hears me because some at this bank don't. Not mention you have maybe a great Manger at one of your banks as being at the job he does but when it comes to helping a customer he has NO RESPECT AT ALL I've fought and been Deployed twice in 22 yrs for our country and he'd rather treat and discriminate me as a criminal but I want be terrified of anything on my own Soul he's rude and evey Military Base in the United States will hear bout this when I'm done I been fully verified by this bank I'm to of old of a man who jus doesn't have the time or patience for this anymore I have a News broadcast with my NEICE whom is the Head Broadcaster a KNOE news I'll will have my day Thank you Sir. I mean I was verified by their Fraudulent Specialist team after bing locked outta my account for a month and two weeks when I was told 3-5 business days and I mite have called four times a week I sent everything I had to get verified and everyone seems to tell me this where the discrimination and Bank negligence came from it has been unfair to me not only as a person but has conquered my Health to the core I'm in the Ruston Rehabilitation Home 2 back to back strokes sustaing from my Doctor has documented Stress Stoke and bad anxiety it all steams from this bank whom screws over people and over people My whole left side has been compromised severely and this bank cares nothing I was verified by Mrs. Brittnay MORROW Fraudulent Specialist of Charles Schwab Bank SBB & Supervisor of the Fraudulent Specia list Team both verified my account and release the restri ctions I was in my account only 20 mins to get kicked back out and locked out again 9,150.00 that they've told me they're going to keep I want my account c losed I've sent in three notarized letters stating want my account closed. State of Texas please are you gone let this bank treat me li ke this I even received Flowers from Fraudulent Specialist Morrow on the passing of my Daughter whom now I have her child my grandson I'm raising. This bank is toying with my life and My pride of been Deployed twice away from my family for our freedom the State of Texas is sitting back watching this smh. I waited patiently a month and two weeks after his bank told me 3-5days they have my Social security card my ID they let me open account only to close it and steal my money Help someone. It's is if they want me to steal a wheel chair in roll to a branch 6 hours away from me I jus had to do ID Verification with IDME to get a account fo r my Online tax Transcript witch we did through Video and I was verified and I have received my taxes since then. You can send Policeman and Fraud specialist to my home if you like or better yet here to the Ruston Rehabilitation Home in Ruston, La I AM STUCK IN THIS HOME BEHIND THIS MESSY CRAP FROM THIS BANK BUT WILL JUS PREPARE FOR A CIVIL SUIT THIS WEEK WILL CONT ACT NCAACP and the Civil rights organization I am tried Please describe how you vvould I want my account closed and my 9, 150 out of this account they're are treated me saying they want close my account witch they have closed and jus took my I'm tired and I want to be treated fairly

I requested to remove my funds on Feb. 8, 2022. I have spoken with someone 4 times and as of today, 2/22/22, have still not received my funds, which I was told would take 3 to 5 business days. I keep getting the run around!

Schwab is Wedded to Forms. Simple transactions take multiple forms and create angst. Wanted to DONATE TO CHARITY some shares of a mutual fund I hold. Went to schwab brokerage and had associate help me complete the form. Three days later receive email to fill out more forms, but email does not say what forms. Seriously difficult to deal with this firm.

I just was screwed by CS., I transferred funds from my checking account and waited for confirmation it had been sent. Once I received it, I called to place an order based on that ETF and had $8700 market value of stocks in my account and that stock was not marginable. I called in to buy more shares based upon the monies received by CS from my bvan kand was unceremoniously told I was out of luck and policy was I wasn't allowed to use those funds to add to my position for an additional 3 days! I am cloosing my account and CS can go F* themselves!

I am a retired Professor of Economics living in Issaquah WA. have been Schwab client for 11 years. My 1099 & 1099-R documents were not sent to me, and when I called, taking three hours overall, I did not receive them until I called the Bellevue office. Kaitlin copied the doc & hand-delivered it, lest I would have to cancel yet another Tax Preparer appt.

When, where, and how are you so-called `service oriented' are you ever going to provide me the proper docs without having to spend hours on the phone, speaking to 6 agents & 2 managers, only to end up in disgust & discontent?
Where are you collective heads when you do not give me the information to file my return. What manner of conscience accords to you the ability to refuse proper data? Can you ever do anything right?

It would be best if you terminated half your male employees & UPS the rest to Siberia, where they may examine their navels to determine the cause & idiocy of their incompetence. In fact, you may well fire your entire local, regional & national managers, such that ALLL YOUR CLIENTS move to another brokerage firm. You are nonsensical, imbecilic, and unfit to do business in an economy where ALL OTHER FIRMS are customer service oriented & leave YOUI rotting the the quagmire of your defaults. Schwa's belongs not as a competitor in the system, but as direct input to the sewer system. You reek, slobber, and mistake yourselves for a suitable firm, when in fact you are an AGGLOMERATION OF IDIOTS preying on modest clients.
Perhaps bankruptcy &I renewal in Antarctica will resolve 1 % of your problems .

My last statement from Charles Schwab was Nov. 30, 2000. I changed addresses and moved to Santiago, Chile. My account was established in Texas, November of 1999. Because of the move, I lost my account information and just recovered it. The account # is [protected].
I contacted Schwab to see the status of the account and they told me it no longer existed and had probably been sent to the State of Texas, unclaimed property. The person with whom I spoke was Jordan Canter, answering service, based in Indianapolis. He said Schwab can do nothing and that I should try claimittexas.org. End of story.

I have been on hold for over 1.5 hours to answer a simple question regarding a commission I was charged. I elected to "be called back due to high volume". They called back in 45 minutes and immediately said, "let me connect you with a broker who can answer your question. I hour later, still waiting. Pathetic! Date of order 12-18-21. Stock purchased ARKBF. Commission charged $50.00. Simple question, why is the commission fee $50.00. A friend made same trade on TD Ameritrade account and was charged a $7.00 Fee.

Dear Sir:

I have been along standing client at Charles Schwab Brokerage. I am in the process of consolidating my retirement funds . On 2/10 I withdrew the entire amount from my Newport Retirement Services 401K . The amount was in excess of 3.7 million dollars. I have benn unable to follow the course of the money transfer. I called Newport and they said the money was transferred today to their custodian. Their custodian was Charles Schwab . I then called Charles schwb asset transfer and money movement services both were of no help. I was then transferred to a customer service representative, who was nice but did not understand what custodian was.I would suggest for accounts over 2 million dollars . You offer the services of a transfer specialist. This has caused me to rethink my relationship with the firm.

I, Lauren Freeman, was divorced in early September and a court order for transfer of 50% of Stephen P Klinker's retirement IRA with Schwab was submitted to them. I have encountered nothing but stall tactics from them for well over a month now. I have been lied to at least three times by employees there that the funds will be in my Strata self-directed IRA within "48-72 hours". Weeks have gone by with nothing but excuses from them. I have asked that they transfer cash as Strata does not accept "positions". Although my ex has supposedly chosen what he is allotting me and already signed, the last time I talked to Lauren Ford at Schwab (Friday 12/11) she indicated Stephen would have to sign to approve the sale of positions already approved for me! I have no contact with Stephen, and now, because of Schwab dragging their feet, I have lost out on two potential real estate investments. The stress this is causing me is uncalled for and poor management by Schwab.

I opened a brokerage account 3weeks ago with charles schwab and soon as I funded it with $350-$400, they locked me out! Ive called 4 times the last 3 weeks & everyone tells me they cant get ahold of fraud department b'cuz they dont have a phone number, so I have to wait hntil they contact me via email! (they haven't yet!) this is [censored]! I can't believe they treat their new customers like this! They've costs me sooooo much money thus far & not one person there has offered to make things right or offered me any remedy! What happened to their "customer satisfaction guarantee"?!? Pffshh... Last time I called I demanded my money back & they can't even do that! So now i'm locked out my account and can't access my funds so can go to someone else! The only fraud going on here is with them screwing me out of hundreds, if not thousands of potential dollars I could've made so far in the stock market! Am so pissed and dissatisfied with them!

Charles Schwab makes it virtually impossible to move at a smooth flow and make money. When you transfer cash in to your account they can hold your money for up to 14 days, even though your bank has cleared it. When I asked why they said the stock I was buying was considered high risk, what gives them the right. This seems to me like a major overstep of there bounds, and interference with my ability to conduct commerce. And after doing nothing but interfering with you making money, and you fire them, switch companies, they hold your money for another 14 days and then charge you a fee.

Schwab has lost 3 Annuity checks in the last 2 1/2 months. They were being sent to the local office which is now closed due to Covid19. Funds were supposse to be forwarded to Orlando service center. They put a resolution manager on the case but he has been useless. Takes no notes and sits at him home computer in a different time zone, I finally resolved it myself and told the resolution guy he was fired. I may be moving all my funds to Fidelity soon.