Charles Schwab & Company, Inc.

Dear Sir/Madam,
They have contacted me and provided the solutionCould you please close this case? Thank you very much for your help
Best regards,
Zhuo

Initial Business Response /* (1000, 10, 2015/07/21) */
Contact Name and Title: *** ***
Contact Phone: X-XXX-XXX-XXXX
Contact Email: ***@schwab.com
Revdex.com CASE#: XXXXXXXX
July 21,
To whom it may concern,
I am writing in response to *** ***'s concerns
noted in the Revdex.com Case #XXXXXXXXThank you for relaying Mr***'s concerns to Schwab to allow me to provide a resolution to Mr***
We discussed the regulatory requirements that compel Schwab to verify an applicant's legal/physical addressWe arranged for Mr*** to deliver the required documentation to a local branch in order to activate his account and proceed with the distributionHe was satisfied with and accepted the resolution
You may reach me at X-XXX-XXX-XXXX, extension XXXXX Monday through Friday between the hours of 8:AM and 5:PM Pacific Time
Sincerely,
*** ***
Resolution Manager Client Advocacy Team
Tel XXX XXX XXXX Fax XXX XXX XXXX
*** *** St
Mail Stop: *** ***
*** *** CA XXXXX
Charles Schwab & Co., Inc
NOTICE: All email sent to or from the Charles Schwab corporate email system is subject to archiving, monitoring, and/or review by Schwab personnel
(c) Charles Schwab & Co., Incmember SIPC
Charles Schwab Bank and Charles Schwab & Co., Incare separate but affiliated companies and subsidiaries of The Charles Schwab CorporationInvestment products are offered by Charles Schwab & Co., Inc(member SIPC)Charles Schwab & Co., Incdoes not solicit, offer, endorse, negotiate or originate any mortgage loan products and is neither a licensed mortgage broker nor a licensed mortgage lenderHome lending is offered and provided by Quicken Loans, Inc., Equal Housing LenderQuicken Loans Inc., is not affiliated with The Charles Schwab Corporation, Charles Schwab & Co., Incor Charles Schwab BankDeposit and other lending products are offered by Charles Schwab Bank, Member FDIC and an Equal Housing Lender

Complaint: ***I am rejecting this response because: Here is a copy of the letter I have sent to Schwab outlining the reasons for rejecting their response:
Dear *** ***,
I have received your letter, and find it disappointing on many levels.
1) I again contacted Bank of America's hold harmless department, contact representative***, and they have again told me that Schwab has not opened a case with them. This is so despite my repeatedly providing Schwab with the necessary information. In the past, B of A has told me they would refund the money if Schwab would request it. It appears that Schwab has not been willing to take this step to get the money refunded.
2) In my previous conversation with you, you led me to believe that Schwab would reimburse me the amount of the fraud in view of the fact that I have been a longstanding customer of Schwab. You did not say that you were considering only a partial reimbursement
3) I have reviewed Schwab's security guarantee protection. It states:
"We want you to have the highest level of confidence when you do business with SchwabSo we offer you this simple guarantee: Schwab will cover 100% of any losses in any of your Schwab accounts due to unauthorized activity."
Nowhere in your security guarantee protection does it state that this is subject to a day notification of the fraud; indeed the tone of the protection would imply that it extends far beyond that.
4) I informed Schwab of the fraud when I learned of it. In this case, I was a few days past the day period, which I found out about afterward. To then say that there was a day notification period is simply beneath the level of service I have usually found at Schwab
4) In my case, the day period has been made extremely difficult by the fact that the family member who has been handling the mail now has Alzheimer's, and has now begun forgetting to forward me important documents. The time it takes for documents to get to them, and from then to me, is often more than days. I would be happy to provide you with a doctor's verification, if need be
5) On receipt of your most recent letter, I asked the Revdex.com to reopen the case I had previously filed Schwab's statement that Schwab has repeatedly tried to resolve this case is simply not true. I have made repeated calls to Schwab, over many months, have done much independent investigation with Bank of America, etc., and this is the first attempt at any resolution that I have had.
I ask that you reconsider your offer. I am again asking for the full amount of the fraud on my account. This is the level of service I have come to expect from Schwab
I will be forwarding this letter to my financial advisor, who I believe has many clients at Schwab, with assets totally millions of dollars, as well as to the Revdex.com.
Please confirm receipt of this letter. If need be, I will send a certified copy from abroad, but this is usually quite difficult.
Thank you,
*** ***
Sincerely,*** ***

Complaint: ***I am rejecting this response because:
As I wrote you days ago already: Surprisingly you reopened this case that was closed on 2016-05-OK, you cite a letter from the company that just reiterates their known irrelevant statementsFact is that their online roll-over mechanism admittedly had a dangerous user-interface flaw that I fell prey toMeanwhile I could compute that the company owes me *** *** shares because of thatOf all other entities that I complained to, eventually FINRA showed some interest, telling me to build a caseWhat case? You bet the company's adhesion contract dictates Binding ArbitrationWhile studying the background, I came across statements about this kind of "customer service", eg"The arbitration system in this country is broken: No oversight, limited discovery, no effective appeal process, expensive and unfair." This outlook didn't motivate me so far to fight the capitalistic arroganceRather, I've been hoping for a miracle or kind of political way outIt didn't happen yet and appears to turn even less likely since 2016-11-Take it as just a lesson for individuals reading this - do your business elsewhere!Sincerely,*** ***

Please see attached business response

Complaint: ***I am rejecting this response because: It is untruthful! I have NOT received any e-mail, with attachment nor written info, and I have not received regular mail from Schwab as they claim. I did receive a voice-mail message a few days ago, telling me that they had e-mailed the info I need that same morning, but, nothing received except an e-mail telling me to log into their website, but, I can not seem to get their website to let me in!Sincerely,*** ***

Dear Revdex.com,
I spoke to the client who had opened two new accounts with SchwabHe was informed that the accounts could not be opened due to information on his credit reportI apologized for the incorrect information he received regarding the return of his depositsChecks were sent
out for the amount deposited in each account on May 22, Client did not confirm that he had received the checks
Thank you for taking the time to contact us with your concernsI can be reached at 1-800-*** extension *** between the hours of 11:AM and 7:PM Eastern or; you can email me at ***
Sincerely,

Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. Sincerely, [redacted]

Complaint: [redacted]I am rejecting this response because: they are not providing compensation as requested. I no longer do business with this company and my account was closed.Sincerely,[redacted]

I am writing in response to the 401(k) plan participant’s concerns noted in the Revdex.com consumer complaint ID 1[redacted]7.  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.  
I was unable to identify the participant and the participant’s 401(k) plan account based on the information relayed in the Revdex.com consumer complaint.  I was also neither able to reach the participant at the number provided on the complaint nor able to leave a message.  I sent an email to the participant’s email address noted on the complaint requesting that he call me so I may clarify some account or participant information with him, such as his employer name to assist me with locating his account information and researching his concerns and the status of his request.  The participant has not responded to my email. 
I will follow up with you if I am able to confirm sufficient participant information to research the concerns. 
Either you or the participant may reach me at 1-[redacted], extension [redacted] Monday through Friday between the hours of 8:30 AM and 5:00 PM Pacific Time.
 
 
Sincerely, 
[redacted]
Resolution Manager | Client Advocacy Team

To whom it may concern, 
On 6/23/16, Mr. [redacted] called and requested that his contributory IRA be closed because he completed a transfer of assets from the contributory IRA account to a Roth account. The contributory IRA was closed at his request. 
On 7/5/16, Mr. [redacted] called Schwab...

and was informed his contributory account could not be permanently reopened. Schwab was unable to permanently reopen the account but did allow temporary access to allow Mr. [redacted] to import data needed for his taxes. 
Thank you for taking the time to contact us with your concerns and for allowing Charles Schwab to serve your investment needs. I can be reached at 1-800-[redacted] extension [redacted] between the hours of 9:00 AM and 5:30 PM Eastern or; you can email me at [redacted]@schwab.com.
 
Sincerely,

I am writing in response to the concerns noted in the Revdex.com consumer complaint ID [redacted]  Thank you for relaying the participant’sconcerns to Schwab. 
I have contacted the client and we are still researching his dispute. I will follow-up with you after relaying the resolution to...

the client. 
You may reach me at [redacted], extension [redacted] Monday through Friday between the hours of 8:30 AM and 5:00 PM Pacific Time.  
Sincerely,

Reply to Revdex.com Complaint #[redacted] 
Per Securities and Exchange Act of 1934 and FINRA Rule 4511 all broker dealers are required to preserve client account statements for a minimum of six (6) years from the date of issuance. Schwab, as a firm policy, has decided to exceed these...

regulations by preserving client account statements for ten (10) years. Unfortunately the account statements that Ms. [redacted] asked for are outside of this retention period and have been purged. 
For instances where the client is seeking information for a class action lawsuit where the statements are no longer available, Schwab prepares a separate document which reflects the shares of stock that the client held during the period specified by the lawsuit. Schwab was unable to reach Ms. [redacted] by phone, but have sent her the relevant transaction list on Schwab letterhead by secure email and by regular mail.
 
Thank you for taking the time to contact us with your concerns and [redacted] at [redacted]
 
Sincerely, 
[redacted]

Complaint: [redacted]I am rejecting this response because:I appreciate the time taken to send me the information available on schwab.com but am disappointed that the account was closed after the recording of the call was reviewed by client advocacy where the rep stated there was no indication of the acount being closed and that I could be assured that the account would remain openSincerely,[redacted]

Initial Business Response /* (1000, 5, 2015/07/02) */
Schwab made a business decision to close Mr. [redacted]'s account. The account was closed before the funds were returned to the sending institution. Schwab sent the funds back to Mr. [redacted]'s bank account. Mr. [redacted] is satisfied with the resolution and...

the case is closed.
Initial Consumer Rebuttal /* (2000, 7, 2015/07/02) */
7-2-15
Sent via email:
Hi,
Yes, they have deposited the 100 dollars back into my account. Everything is resolved.
Thanks,
[redacted]

Complaint: [redacted]I am rejecting this response because:
I did not pursue this at the time, because Schwab informed me at the time that they would make good on this claim.
 
However, they nor inform they will NOT make good on this claim, so I would...

like to reopen this case.
 
Thank you for your help.   
Sincerely,[redacted]

Initial Business Response /* (1000, 5, 2015/09/09) */
Contact Name and Title: [redacted] Manager
Contact Phone: XXX-XXX-XXXX
Contact Email: [redacted]@schwab.com
I have contacted Mr. [redacted] today to address the concerns expressed in the above referenced complaint. I agreed to issue a...

credit for $50.00 to his account as previously promised and apologized to Mr. [redacted] for the delay in processing this credit.
Should there be additional questions, I can be reached at X-XXX-XXX-xxxx extension XXXXX between the hours of 10:00AM and 5:30 PM Eastern; or, you can email me at [redacted]@schwab.com.
Sincerely,
[redacted]
Resolution Manager Client Advocacy Team
[redacted] St
Mail Stop: [redacted]
[redacted] XXXXX
Initial Consumer Rebuttal /* (2000, 7, 2015/09/10) */
(The consumer indicated he/she ACCEPTED the response from the business.)
I appreciated [redacted] rapid resolution of my complaint.

Dear [redacted]
 
I have reached out to Mr. [redacted] regarding his concerns related to Schwab's disclosure of requirements for our discounted commission rate via Schwab.com. I explained to Mr. [redacted] that the account he was inquiring about is part of Schwab's Advisor Custody Trading...

services which has a separate set of parameters for online discounted commissions. The disclosure related to enrollment in e-delivery and lower online commission rates is included in the new account agreement initially signed by the client.
 
Schwab has agreed to credit the client in question $500 as a customer service gesture to cover all commissions charged for the past three years in the account. Mr. [redacted] accepted our gesture on behalf of his client and understands Schwab's policy related to the requirements for the online commission discount offered by Schwab.
 
Thank you for bring this matter to our attention.
 
Sincerely,
 
 
[redacted]
Resolution Manager | Client Advocacy Team

The following is our resolution for Revdex.com COMPLAINT ID #[redacted]
 
Thank you for taking the time to contact us with your concerns and for allowing Charles Schwab to serve your investment needs. I can be reached at [redacted] extension [redacted] between the hours of 11:00 AM and 7:30 PM Eastern...

or; you can email me at [redacted]
Schwab responded to Ms. [redacted] on 04/20/2018 apologizing for the poor experience she has had with her new account. Schwab offered to cover her overdraft fees and a small cash award for the inconvenience which she accepted. Ms. [redacted] confirmed that her accounts are in working order, and mentioned that each time there had been a problem Schwab made a valiant attempt to fix it.

Complaint: [redacted]I am rejecting this response because it states that "during a recent review of [the party's] accounts, we determined that they no longer meet Schwab's business guidelines for accepting and/or maintaining accounts" however my account was...

opened less than 3 weeks prior to receiving the notice of termination.  I was planning on opening additional accounts and moving money from at least 2 other financial institutions in 30 and 90 days as funds were available.This response is a cop-out and is discriminatory.  If my account didn't meet their business guidelines at the moment in time 3 weeks after joining this financial institution, I simply want to know what to do to meet the business guidelines for maintaining accounts.  As I've mentioned to them before, a friend opened an account one day before me at the same branch, deposited the same amount of money, purchased the same stock at a similar price (and has not done anything since) and they have not received notice that their account is being terminated.  So the decision seems to be based less on my account and more about other information not being disclosed by the bank.