Charles Schwab & Company, Inc.

Initial Business Response /* (1000, 5, 2015/08/17) */
Ms***, requested a distribution from her ESA accountThe custodian, requested that the account ownership be transferred to Ms***, rather than having a direct distribution sent to herMs*** had to complete the paperwork
necessary for the changeOnce the paperwork was processed the distribution was completed; however it caused a processing delayThis issue is resolved and the case is closed

Thank you for relaying the participant’s response to our resolution of the Revdex.com complaint ID ***. I drafted my response after reviewing the appropriate records, including all relevant call recordings. We do not provide call recordings to clients, but we can arrange to play call recordings for clients.
Although we regret the inconvenience and delays caused by the notation of an incorrect account number on the distribution request, we are not providing compensation for the delays. We offered assistance to correct and mitigate the erroneous entry on the request after confirming the participant noted an incorrect account number on the form.
We are respecting the participant’s request to not be contacted by Schwab.
You may reach me at ***, extension *** Monday through Friday between the hours of 8:AM and 5:PM Pacific Time.
Sincerely,
*** ***
Resolution Manager | Client Advocacy Team

Initial Business Response /* (1000, 5, 2015/12/14) */
Contact Name and Title: *** ***
Contact Phone: XXX-XXX-XXXX
Contact Email: ***@schwab.com
December 14,
Ms*** ***
Revdex.com
Complaint Case #: XXXXXXXX
Consumer: *** ***
Dear Ms
***
I am responding to your email dated December 11, regarding Mr***'s seeking an apology letter from Schwab regarding the opening of a new business account and his subsequent interactions with a Schwab Representative regarding Schwab's Regulatory Requirements to Know Our Customers and aid in enforcing the USA PATRIOT Act, Bank Secrecy Act and "anti-money laundering" law, among other regulations regarding the beneficial ownership and source of funds for accounts
Due to the reporting requirements on these types of accounts, Schwab uses the information provided to determine if we can support the client's businessIn this specific case it was determined that Mr***'s business accounts could not be supported by Charles Schwab and Co., Incand that another institution may better meet his needsMr*** responded with this complaint to the Revdex.com after being verbally informed of the aboveHe will also receive a written notification from Schwab of the above information
Per our reporting requirements to FINRA, Mr***'s complaint has been logged and associated with the representative Mr*** identified
Thank you for taking the time to write us with your concerns and for allowing Charles Schwab & Co., Incto serve your investment needsI can be reached at X-XXX-XXX-XXXX X XXXXX between the hours of 10:AM and 6:PM EST if you have any further questions about this issueFor any of your other service needs, customer service representatives are available hours a day, days a week at X-XXX-XXX-XXXX
Sincerely,
*** ***
Resolution Manager
Client Advocacy Team
Charles Schwab & Co., Inc

Charles Schwab & Cois responding to the concerns raised by Ms*** against SchwabSchwab attempted to contact Ms*** by phone and sent an email to Ms*** asking her to respondMs*** has not at this time responded so Schwab will review the issue directly with Ms***
when she responds to my email
Thank you for taking the time to contact us with your concerns and for allowing Charles Schwab to serve your investment needsI can be reached at 1-800-*** extension *** between the hours of 9:AM and 5:PM Eastern or; you can email me at [email protected]
Sincerely,
*** ***
Resolution Manager | Client Advocacy Team

Complaint: ***I am rejecting this response because: The "facts" provided by the company do not match realityIn other words, they are providing "alternative facts" to the situation
I also cannot believe it's been months from the date of my complaint to the date of responseI've moved on and want nothing to do with this company unless they are providing compensation, as previously requested
Sincerely,*** ***

Initial Business Response /* (1000, 5, 2015/11/06) */
November 6,
This letter is in response complaint # XXXXXXXX made by *** ***
I received Mr***'s complaint on November 2, and attempted to contact him by phone to discuss his concerns but I was unable to reach
himI sent him an email which included the following information:
During a recent credit review of the above-referenced Schwab One(r) account, we reached the decision to close the account because it does not meet Schwab's credit guidelinesWe regret any inconvenience this may cause, but given our guidelines, your investment needs may be better served by another broker or financial institution
I can confirm your assets are not frozen and see that you removed your funds from the account on 11/2/
Thank you for your understanding in this matterIf you have any questions, please consult the General Terms of your Schwab Brokerage Account Agreement, or call a Client Service Specialist at X-XXX-XXX-XXXX, Monday through Friday, 6:a.mto 4:p.mPT
Sincerely,
*** ***
Resolution Manager

Schwab apologizes for the issues our client experienced in the use of their Schwab Bank High Yield Investor Checking (HYIC) Account *** Debit Card. In an effort to protect the assets held within the HYIC, if the Fraud Monitoring System detects activity that is deemed possibly fraudulent in
nature, its first line of defense is to block the Debit Card and possibly attempt to make contact with the account owner to verify the activity. Schwab realizes that constant verification in the use of the Debit Card can cause issues, especially if the charge has been historically verified as legitimate, but the presence of fraud on an account can cause an immediate drain of all assets in a short amount of time. So Schwab weighs the conservative approach to monitoring fraud against client convenience. Our intention is not to inconvenience the client, but to provide stringent monitoring in order to prevent fraudulent use.
Schwab has worked with this client in the past to address these issuesSince that time the number of transactions allowed per day has been changed to unlimitedSchwab strives to make the funds available to our clients, while protecting the integrity of the account.
Thank you for taking the time to contact us with your concerns and for allowing Charles Schwab & Co., Incto serve your investment needs. I can be reached at *** extension *** between the hours of 10:AM and 6:PM Eastern or you can email me at *** Sincerely,
*** ***
Resolution Manager | Client Advocacy Team

Mr*** *** experienced a technical issue with the Schwab Website and trading platforms on December 4, In this type of instance, clients are advised to contact Schwab via phone to place tradesMr*** is referencing trades he believes that he would have been able to place if he had not
experienced these difficultiesSchwab does not honor trades that hypothetically could have been placed, but does acknowledge some responsibility for the issues that Mr*** experiencedSchwab was able to reach a mutually agreeable settlement with Mr***.
Thank you for taking the time to contact us with your concerns and for allowing Charles Schwab & Co., Incto serve your investment needs. I can be reached at *** extension *** between the hours of 11:AM and 7:PM Eastern or you can email me at*** Sincerely,

I am writing in response to the 401(k) plan participant’s concerns noted in the Revdex.com complaint ID ***. Thank you for relaying the client’s concerns to Schwab. I apologize for the delay in response to this complaint. Schwab recently became aware that our email system had blocked
some of complaints relayed by Revdex.com
The 401(k) plan participant received the plan account assets in his plan account at Fidelity. The participant submitted an online request to transfer the funds in his 401(k) plan account held at Schwab to an IRA held at Fidelity with an Automatic Clearing House (ACH) transfer on May 27, 2016. The funds were debited from the plan account and sent to Fidelity on June 9, 2016. The participant confirmed that Fidelity does not accept 401(k) plan rollovers by ACH. Schwab Retirement Plan Services does not block all 401(k) plan account ACH transfer requests to IRA accounts because some firms accept these rollover ACH transfers.
The participant received the following message when enter the transfer request online:
Note: If you are rolling your funds to another Eligible Retirement Plan, your funds will be sent to you in the form of a check which will be payable to the Eligible Retirement plan
If funds are sold from both the Roth and Non-Roth portions of your account, because of the different taxation rules for Roth withdrawals, separate checks/deposits will be made for the portion of your withdrawal distributed from your Roth balances and your non-Roth balances.
Funds being sent via Direct Deposit will be sent to your account using Automated Clearinghouse (ACH), not as a wireProviding inaccurate information could result in a delay of your withdrawal and the possibility of an incorrect deposit of your fundsTherefore, it is essential that you verify the information with your Financial Institution prior to initiating this requestCommon questions to review with your Financial Institution:
Will the Financial Institution accept an ACH transaction? Is my account sto receive an ACH transaction? What is the exact format of the account number including leading zeros and non-numeric characters? Is the ABA/Routing number the same for a savings account versus a checking account?
The participant was advised a check would automatically be mailed to Fidelity after the ACH transfer was rejected. The participant was informed the ACH transfer was rejected on June 14, 2016, and the check was mailed.
The 401(k) plan account distributions and transfers are reported on the monthly account statement, the online transactions history, and generated the following year. Schwab RPS does not generate a receipt or transfer verification letter for distributions or transfers
Either you or the participant may reach me at 1-800-***, extension *** Monday through Friday between the hours of 11:AM and 8:PM Eastern Time.
Sincerely,
*** ***
Resolution Manager | Client Advocacy Team

Schwab initially sent an email and called Ms*** on May 10, She was left a voicemail informing her that she would be receiving a secure email with the information that she requested. The secure email was sent on May 11, and requires that she log in to her account to receive the message in her message centerWhen she had not contacted Schwab or gone into her message center to retrieve the email message, another call was placed on May 16, with a voicemail left, and a letter was sent to her that same day

Dear MrAdan Sandoval,
Reply to Revdex.com Complaint #***
Schwab initially sent an email and called Ms*** on May 10, She was left a voicemail informing her that she would be receiving a secure email with the information that she requested. The secure email was sent on May 11, and requires that she log in to her account to receive the message in her message centerWhen she had not contacted Schwab or gone into her message center to retrieve the email message, another call was placed on May 16, with a voicemail left, and a letter was sent to her that same day
Thank you for taking the time to contact us with your concerns and for allowing Charles Schwab to serve your investment needsI can be reached at *** *** *** between the hours of 11:AM and 7:PM Eastern or; you can email me at***
*Message from your Revdex.com* If you do not have a login or password we suggest contacting Charles Schwab (contact info above)
Sincerely,
*** ***

January 26, 2017
To whom it may concern,
I am writing in response to Revdex.com Complaint *** for *** ***
I contacted Ms*** to address her concerns listed in the complaintMs*** stated this issue was resolved and she wanted to move
on.
Thank you for taking the time to contact us with your concerns and for allowing Charles Schwab to serve your investment needsI can be reached at 1-800-*** extension *** between the hours of 9:AM and 5:PM Eastern or; you can email me at ***@schwab.com
Sincerely,
*** ***
Resolution Manager | Client Advocacy Team

June 2,
To Whom it May Concern,
I am writing in response to Consumer Complaint #***
Schwab has made multiple attempts to resolve this issue with Mr***
Ultimately it was found that due to the late reporting of the fraud under the Universal Commercial Code (after days have passed); the request to compensate Mr*** the $4,was denied
Schwab had made the business decision to make a $1,client service gesture to appreciate his business, but Mr*** has not responded to this offer
Schwab will be closing this case, pending his response
Sincerely,

Charles Schwab & Coresponded to Mr***s allegations multiple times during in writing in response to his allegations that Schwab mishandled a rollover of his 401K into a Schwab IRASchwab also responded to Mr*** through the SEC in May, as well as through FINRA in
August, Schwab reviewed Mr***s complaint thoroughly, and determined based on the elections Mr*** made online Schwab liquidated the 401K, disbursed funds directly to Mr***, and then rolled the remaining assets to his IRA at Schwab.
Schwab informed Mr*** Schwab would not be responding to his allegations going forward as well based on the multiple times Schwab addressed his concernsSchwab found Mr*** was not entitled to any compensation, and no Schwab error occurred
Thank you for taking the time to contact us with your concerns and for allowing Charles Schwab to serve your investment needsI can be reached at *** extension *** between the hours of 9:AM and 5:PM Eastern or; you can email me at ***
Sincerely,
*** ***
Resolution Manager | Client Advocacy Team

February 2, 2017
To whom it may concern,
I am writing in response to Revdex.com complaint ***I have contacted Mr*** and provided him with the information needed related to the complaintThe matter is resolved
Thank you for taking the time to contact us with your concerns and for allowing Charles Schwab to serve your investment needsI can be reached at 1-800-*** extension *** between the hours of 9:AM and 5:PM Eastern or; you can email me at ***@schwab.com
Sincerely,
*** ***
Resolution Manager | Client Advocacy Team

Complaint: ***I am rejecting this response because: I can not log into Schwab!! I do not have a lname nor a password!! WHY can't they properly mail, via USPS, this info that they first told me they do NOT have and now they say they have it, but, are not getting it to me?? WHY can't they send it as an attachment to my e-mail?? Doesn't the IRS demand that they have this info?? Thank you for your help in trying to deal with these "people." I am glad that I do NOT have an account with them anymore! I would hate to have to depend on them to manage my IRA now that I am years old and retired. Sincerely,*** ***

I am replying to Revdex.com Case #: ***
Parking at this branch is limited and during certain hours of the day Schwab does employ a Security Guard through an outside contractor to assist with traffic controlSchwab does take matters like this seriously and has forwarded Ms***’s complaint
to the firm contracted to provide security at the Walnut Creek BranchAny action taken in regard to her complaint is being addressed by that company and as a vendor issue by Schwab.
Thank you for taking the time to contact us with your concerns and for allowing Charles Schwab & Co., Incto serve your investment needs. I can be reached at *** extension *** between the hours of 11:AM and 7:PM Eastern or you can email me at***
Sincerely,

I am writing in response to the 401(k) plan participant’s concerns noted in the Revdex.com complaint ID ***. Thank you for relaying the client’s concerns to Schwab. I apologize for the delay in response to this complaint. Schwab recently became aware of an email system issue that had
blocked some of complaints relayed by Revdex.com
The 401(k) plan participant’s employer successfully submitted the first hardship withdrawal request on July 22, 2016. Schwab Retirement Plan Services (RPS) sent the ACH transfer to the participant’s bank on July 26, 2016, which was posted to her bank account the next day.
Schwab RPS received the participant’s second hardship withdrawal request on August 9, The paperwork included a truncated account number for the participant’s bank account. Schwab RPS entered the ACH transfer instructions with the account number as noted by the participant when sending the funds to the bank on August 10, 2016. The bank rejected the ACH transfer due to an incorrect account number and returned the funds to Schwab on August 12, 2016. The payment was mailed to the participant’s address on record on August 15, 2016. The following was noted on the withdrawal request form submitted by the participant: “Note: if your ACH request is rejected, a check will automatically be issued and mailed to you at your mailing address via U.SMail.”
The participant advised a Schwab RPS specialist that she had not received the check on August 18, 2016. Schwab requested a stop payment on the check and the funds to be wired to her bank account. The Schwab RPS specialist advised the participant that Schwab RPS is unable to wire funds from 401(k) plan accounts. The specialist advised the participant against placing a stop payment on the check due to the time required to process the stop payment on the check and send the funds. He also explained that Schwab RPS is not able to resend the ACH transfer when it has been rejected. The participant disconnected the call.
The participant was escalated to a supervisor on August 19, 2016. He offered to place a stop payment on check and send the funds to the bank account via an ACH transfer. He confirmed the account number was truncated when verifying the account number with the participant. The participant declined the offer and explained the process would take to business days to process. The supervisor provided his contact information and invited the participant to call him for any assistance with her withdrawal.
The participant instructed another Schwab RPS specialist to place a stop payment on the check and transfer the funds by ACH the same day on August 22, 2016. He explained he could submit the stop payment request that day, but the ACH transfer could not be submitted before the following day at the earliest.
Another Schwab RPS specialist relayed the resolution to the participant on August 24, 2016. He initially agreed to work with the supervisor to confirm the status of the ACH transfer. He subsequently advised her that it was scheduled to be sent as part of a batch transmission late that afternoon, but he would confirm if it could be manually sent before the batch transmission. He informed her that there was a risk of additional delays if they attempted to pull the request out of the batch. He informed the participant the funds were sent later in the afternoon on August 24, 2016. The participant confirmed the payment was posted to her bank account on August 24, 2016.
Either you or the participant may reach me at ***, extension *** Monday through Friday between the hours of 8:AM and 5:PM Pacific Time if you would like to discuss this further.
Sincerely,
*** ***
Resolution Manager | Client Advocacy Team

The client wrote regarding an issue with Schwab’s Customer Identification Program (CIP) which is required by regulation and for USA PATRIOT ACT complianceA required part of the identification is a physical address where the client resides, as this client’s community does not use street
addresses further investigation and research was requiredThe client provided the information requestedThe new accounts have now been opened which resolved the issue
Thank you for taking the time to contact us with your concernsI can be reached at 1-800*** extension *** between the hours of 10:AM and 6:PM Eastern or; you can email me at ***@schwab.com
Sincerely,

A Schwab Compliance Manager relayed the resolution to Mr*** in a response letter dated December 19, to a complaint filed with Financial Industry Regulatory Authority ("FINRA")The Compliance Manager clarified that she was responding on behalf of Schwab Retirement Plan Services (SRPS), an
affiliate of Charles Schwab & CoIncShe explained that SRPS acts as a record keeper for the defined contribution plan
She confirmed the hardship withdrawal request was completed and the funds were transferred to Mr***’s bank account within the standard 3-business day timeframeShe requested that Mr*** contact SRPS if the funds were not received in his bank account.
Mr*** initiated the hardship withdrawal request on November 27, He was informed by an SRPS specialist on November 30, that the funds had been transferred to his bank accountMr*** did not contact Schwab directly following this call.
You may reach me at ***, extension *** Monday through Friday between the hours of 8:AM and 5:PM Pacific Time.
Sincerely,