Charles Schwab & Company, Inc.

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. I do find that the prolonged length of time in order to address my concern was outside the norm...

(the business took approximately four months to address my concerns). It is good that I did already have another brokerage to handle my stocks in a timely and forthcoming matter. While I appreciate that this business finally resolved the issue, I would not recommend them to any new customers wishing to have a brokerage who caters to their concerns in a timely fashion.Sincerely, [redacted]

March 28,  2017
 
Dear [redacted],
 
Schwab could not find a previous complaint regarding this person. We could also not find where he is a Schwab client. He was contacted via email and responded with “Which concern?”

Complaint: [redacted]I am rejecting this response because: Surprisingly you reopened this case that was closed on 2016-05-16. OK, you cite a letter from the company that just reiterates their known irrelevant statements. Fact is that their online roll-over mechanism admittedly had a dangerous user-interface flaw that I fell prey to. Meanwhile I could compute that the company owes me [redacted] shares because of that. Of all other entities that I complained to, eventually FINRA showed some interest, telling me to build a case. What case? You bet the company's adhesion contract dictates Binding Arbitration. While studying the background, I came across statements about this kind of "customer service", e. g. "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 arrogance. Rather, I've been hoping for a miracle or kind of political way out. It didn't happen yet and appears to turn even less likely since 2016-11-08. Take it as just a lesson for individuals reading this - do your business elsewhere!Sincerely,[redacted]

Complaint: [redacted]I am rejecting this response because:  I did receive their e-mail, but, can NOT log into Schwab to read the message!!  I have no log-in name, nor password!!!!!!!  I told you this earlier.  I have NOT received ANY USPS mail from Schwab, either!!  I do not want to talk to them on the phone because they are lying about all of this and I want all our communication to be written, NOT oral.   
 
WHY can't they just mail what info they have???
 
Sincerely,[redacted]

Complaint: [redacted]
I am rejecting this response because I am requesting removal of inquiry on the Equifax report.
Sincerely,
[redacted]

Mr. [redacted] opened an account online on October 1, 2017. After review of the information provided by Mr. [redacted], Schwab’s Client Verification and Research Center (CVRC) determined additional information from Mr. [redacted] was required to comply with Patriot Act and Anti-Money Laundering (AML) regulatory...

requirements. The account was restricted to liquidating orders only after market close on October 4, 2017. Mr. [redacted] provided the required information to CVRC and the restriction was removed prior to market open on October 5, 2017. 
You may reach me at [redacted], extension [redacted] Monday through Friday between the hours of 8:30 AM and 5:00 PM Pacific Time.

I am writing in response to consumer complaint #[redacted] from our client, [redacted], which was filed with the Revdex.com on 4/22/16. 
We were in direct communication with Mr. [redacted] at that time and addressed his concerns to his satisfaction on April 25th of 2016. 
I can be reached at...

[redacted] extension [redacted] between the hours of 9:00 AM and 5:30 PM Eastern or; you can email me at [redacted] if you have additional questions. 
Sincerely,
[redacted]
Resolution Manager | Client Advocacy Team

Reply for Revdex.com Complaint ID #[redacted] 
The retirement plan client contacted Schwab’s Retirement Plan Services on March 16, 2018 and resolved the matter. The requested transfer took place on March 19, 2018. The reason for the additional client call on March 16 was to obtain the mailing address...

for the receiving firm, which was not entered in its entirety on the original form.  
Thank you for taking the time to allow us to address your concerns.  Please contact me with any questions at [redacted] between the hours of 7:30 AM and 4:30 PM Central or you can email me at [redacted] .   
Sincerely, 
[redacted]
Manager - Operations Control | Business Trust Administration

January 27, 2017 
Dear Mr. [redacted] 
In this case our client contacted Schwab Retirement Plan Services after filing this complaint and was able to make two withdrawals from the account. No further contact has taken place and Schwab considers the matter resolved.
 
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 10:00 AM and 6:30 PM Eastern or; you can email me at [redacted]@schwab.com.
 
Sincerely, 
[redacted]
Resolution Manager | Client Advocacy Team

January 26, 2017 
Dear Mr. [redacted], 
Regarding Mr. [redacted]s dispute regarding the 401K rollover; Schwab has thoroughly responded to Mr. [redacted] directly multiple times. While we understand Mr. [redacted] does not agree with the resolution provided by Charles Schwab & Co. we as a firm will not be responding further and considers this matter closed.
 
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 9:00 AM and 5:30 PM Eastern or; you can email me at[redacted].
Sincerely, 
[redacted]
Resolution Manager | Client Advocacy Team

Initial Business Response /* (1000, 7, 2015/10/12) */
10/09/2015
Dear Mr. [redacted],
Per our Account Agreement, we have made a business decision to not extend to Mr. [redacted] the debit card and check writing account features. I reviewed multiple phone interactions based on his allegations and was...

unable to find a call where incorrect information was given to Mr. [redacted]. I have discussed this with Mr. [redacted] and he indicated his acceptance.
Sincerely,
[redacted]
Resolution Manager Client Advocacy Team
Charles Schwab & Co., Inc.
XXX-XXX-XXXX
(c) 2015 Charles Schwab & Co., Inc. member SIPC

Please see attached business response.

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. 
The person that submitted the complaint to the Revdex.com is not an owner or authorized to act on the Schwab Bank account involving the...

dispute. 
The dispute was fully resolved with the account owner. 
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, 
[redacted]

Part of our explanation to the client was that the credit pull was authorized by him and is not reversable.

Initial Business Response /* (1000, 5, 2015/08/31) */
Contact Name and Title: [redacted] Mgr
Contact Phone: XXX-XXX-XXXX
Contact Email: [redacted]@schwab.com
8/28/15

Dear Ms. [redacted],

I am responding to your email dated 8/28/15 regarding the above mentioned...

Revdex.com case.

Schwab made a business decision not to maintain Mr. [redacted]'s account. Schwab is empowered by The Schwab Account Agreement to terminate any and all service at any time.

Thank you for taking the time to contact us with your concerns and for allowing Charles Schwab & Co., to serve your investment needs. I can be reached at X-XXX-XXX-XXXX extension XXXXX between the hours of 9:00 AM and 5:30 PM Eastern or; you can email me at [redacted]@schwab.com.

Sincerely,


[redacted]
Resolution Manager Client Advocacy Team

Tel XXX XXX XXXX Fax XXX XXX XXXX
[redacted] 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) 2015 Charles Schwab & Co., Inc. member SIPC

Initial Business Response /* (1000, 5, 2015/08/26) */
Contact Name and Title: [redacted] Manager
Contact Phone: XXX-XXX-XXXX
Contact Email: [redacted]@schwab.com
August 26, 2015
Dear Ms. [redacted],
I was made aware of Ms. [redacted]'s concerns on August 19, 2015 from an email she sent...

to Charles Schwab & Co. Inc. I attempted to reach Ms. [redacted] by phone on August 19th and August 21st and I sent her an email on August 24th and asked her to contact me to further discuss her concerns.
Ms. [redacted] agreed to Charles Schwab's Terms and Conditions upon the initial set up of electronic transfers, which does disclose our funds hold policies. Additionally, the following information is available on Schwab.com:
Between Schwab Bank High Yield Investor Checking accounts and outside accounts Online process.
How it Works: One-time or regularly scheduled transfers.
Requires initial set-up
Time Required: 1-2 business days
Requests received prior to 5:30 p.m. ET (2:30 p.m. PT) will post to the outside account the following business day. If received after 5:30 p.m. ET, posting to the outside account will occur in 2 business days.
Funds coming in via Schwab Bank Electronic Funds Transfer will be available on the 4th business day after the deposit posting date shown in your High Yield Investor Checking Account. You will earn interest as soon as the money is deposited, but [redacted] not withdraw funds until the hold time has elapsed.
Cost: No charge.
If Ms. [redacted] wishes to discuss this matter with Charles Schwab & Co. Inc. or has a resolution in mind, 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
Tel XXX XXX XXXX Fax XXX XXX XXXX
[redacted] 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) 2015 Charles Schwab & Co., Inc. member SIPC