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How would you rate Charles Schwab?
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North Carolina
1 review
4 helpful votes
Follow Reginald H.
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Employees with Felonies
December 17, 2019

An employee named Michele Chandler works for the company. After receiving prison time in the military for a conspiracy against Ft. Bliss, TX officers, she was court-martialed in 2002, the. She went to work for university of Phoenix whom she tried to defraud, now she works for Charles Schwab's software sales, And R&D, Just crazy how gross negligent this company really is. When I found this news out I was astonished. I served with this nasty, deceptionally-vile woman.

Date of experience: December 17, 2019
Colorado
3 reviews
20 helpful votes
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Most unprofessional experience I have ever had with a bank. They are so pretentious and arrogant. Never inform them that they are wrong or might perceive things differently with another lens. They are juvenile, nasty, greedmongers 2 years after the COVID pandemic and I hope they suffer greatly.

Date of experience: May 7, 2022
California
3 reviews
7 helpful votes
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I personally buy a lot of the Schwab ETFs. They have very small fees and has no commission fees, even lower than Vanguard. Perfect for my investment.

Their checking account has no ATM fees for withdrawing from other banks' ATM (actually they reimburse the fee afterwards) so it is very convenient for international travel.

Date of experience: March 19, 2018
Serbia
6 reviews
8 helpful votes
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It's a good company, they have many useful tools and the pricing is far, though the 25K requirement for foreigners to open a new account is a tad bit too steep, If not for this I would have given them five stars

Date of experience: June 7, 2019
Hong Kong
2 reviews
0 helpful votes
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Worst banking experience ever
March 17, 2023

Banking customer here, not an investor.
I started an account for the sole purpose of using the debit card on an international trip. Opened the account about six weeks before, downloaded the app, received the card, and no other communication. Checked the app daily to ensure everything was ready for the trip. I should have tested it before I left, but I didn't discover the account was locked until I was making a connection in Incheon airport. No big deal, except I discovered that the 'contact us' in the app is only a bot. The app still shows no problems with the account. International collect number on the card didn't work. Finally discovered Skype works well for international calls. But the 'team' that needs to handle this is 9-5 Mon-Fri. Up after midnight to fit their schedule, I discovered that they've conveniently set things up so that I can never retrieve my money and they will never unlock the card.
Customer service spent the week alternating between politely lying about solutions and rudely talking over me while I'm trying to communicate how desperate my situation has become.
Not just the worst banking experience, but the worst customer service experience I've ever encountered.

Date of experience: March 17, 2023
Philippines
6 reviews
4 helpful votes
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Horrible Banking
March 8, 2023

I invested with Charles Schwab since 2016. When they started offering banking I was excited to utilize it. Eventually they made a mistake. I made 2 withdrawals back to back & Schwab duplicated them charging me 4 times instead of two.

Calling them was a nightmare. They will not allow you to directly call the person "investigating" your dispute.

Then they sent me documents from the ATM bank proving an error was made but for some reason they insisted no error was made.

It was a very long drawn out ordeal involving many long phone calls. I tried to get somebody on the phone that could look at the documents the same time I was talking to them so I could get them to see the documents proved that they were wrong but instead I just got a stone wall. I spent 4 months trying to help them resolve the problem they created but the people allowed to talk on the phone are not trained well enough to resolve problems. They are only trained to say "somebody will call you" which doesn't work if you are a Schwab customer that works during the day.

Luckily I did not switch all my banking to Schwab. I only transferred money to the account as I needed it. Their mistake just overdrafted my account. There was no money in it for them to take from me.

Despite that I still wasted four months trying to help them see their mistake. In the end I just gave up and let them close my over drafted account.

From now on I will do my investing with a different broker.

Honestly this experience was so bad I am now just glad I will never have to do business with Charles Schwab ever again.

Date of experience: March 8, 2023
Nigeria
2 reviews
1 helpful vote
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Scammers scammers
June 10, 2024

They really tried getting away with my money
After writing to their coustomer services with no response
So I report them to capitalrecov website and they help me file a case against them

Date of experience: June 10, 2024
California
8 reviews
24 helpful votes
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Charles Schwab was one of the first online brokerages, and it's definitely one of the better ones in the sense that they give you a lot of different services that some online brokerages don't give you. If you want to talk to someone, you can actually talk to someone. I think of them more as a cheaper alternative to larger banks like Morgan Stanley or Merrill Lynch. But I don't think it's a cheap for pure online trading as others like tdameritrade or Scott Trade.

Date of experience: April 27, 2013
GB
4 reviews
0 helpful votes
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5/5
February 1, 2018

Honest guys with decent motives of earning money for themselves. I mean, this is how it works in trading business anyway, so why the heck not, right?!
Anyway, keep up the good work!

Date of experience: January 30, 2018
California
2 reviews
11 helpful votes
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I didn't join to write reviews, but I'll do my part. Schwab provides the absolute best and highest level of service. (opposite of the cable companies)

Date of experience: March 12, 2015

Overview

Charles Schwab has a rating of 1.6 stars from 25 reviews, indicating that most customers are generally dissatisfied with their purchases. Reviewers dissatisfied with Charles Schwab most frequently mention and customer service. Charles Schwab ranks 88th among Brokerage sites.

service
14
value
10
shipping
1
returns
1
quality
10