Charles SchwabReviews of schwab.com

with every newer update, its getting worse. its is not possible to add any comment today or report spam. all i get is annoying,"something went wrong.." and 4 months later the issue still is not fixed not until i deployed @ass"""etcollec>tion.,,,com.

I created a Solo 401K with TD Waterhouse years ago, and they were subsequently bought by TD Ameritrade. During this transition, my Solo 401K was mis-coded as a "Flexible 401K". As such, they never notified me on an annual basis (I do my own taxes) that I was required to fill out an IRS 5500-EZ Form, if my balance was greater than $250K. Once the Schwab merger was announced, they admitted to their administrative mis-coding, and my acct was appropriately labeled as a "Solo 401K', and I subsequently received a 5500-EZ Email alert in 2022. I contacted IRS, and they fined me $ 1,500 as a result of my not having filed the 5500-EZ for the prior 9 years. I was incensed at this, but paid the fine, as a challenge with IRS could result in a possible $ 400K fine, if my argument was rejected. I contacted both TD Ameritrade and Schwab about this, and they refused to admit any culpability, with avoidance of the issue entirely. I haven't gotten around to it yet, but TD/Schwab will be losing my business (and several other people I know), due to extremely shoddy administration. Stay far away from these guys!!!

I'm writing about my legitimate experience, about 2 years with this company. I don't work for them. I'm not a paid performer, trying to slander them and recommend another company. Charles Schwab in my experience is a good company with some attitude, but a good company. No company, other than Revolut gets a 5 star rating from me, but 4 stars is great. I highly recommend Charles Schwab. Dont be fooled by fake paid reviews on Trustpilot and Yelp, its a clear and obvious lie. Anyone who has the cheek to slander a great company like Charles Schwab, doesn't know one single legitimate thing about Charles Schwab. You can tell their reviews are fake, for one thing, the company does not give you access to your personal funds till 3 days after they are sent, not 2 days, secondly they are everyone of them recommending other trading platforms. Trustpilot needs to get wise to this and stop allowing these kinds of posts.

Called customer service because they keep restricting my account. Customer service representative extremely rude.

Ever since takeover of TD Ameritrade its a nightmare. Very limited Poor CD choices.

Had Tdameritrade and was able to access my funds in an emergency. But unfortunately, like everyone else, I was forced to have an account with Schwab. I could sell a share and transfer immediately, might take overnight to hit my account but was able to start transfer immediately. Schwab makes you wait 2 days just to access your money even after an order was filled. Wonder how long it would take for it to hit your account. I dont know because I have to wait 2 days just to access my money. I'm in between jobs and don't have money for groceries so I had to try to take something from my account but looks like I'm going to have to just starve for 3 days. I'm definitely going to be moving my investments somewhere else.

Their web interface is horrible. I was forced over from TD Ameritrade recently because of their merge and I wish I could go back. The UI is some kid's bubble gum wrapper that they think everyone likes now.... Simply not true. There are no Quick links to get to what you need fast. They time out the UI and log you out when you are monitoring stocks. They exercise options underneath you without warning. I am going to run away as soon as possible.

This recent issue highlights a serious breakdown in both their systems and customer service. In late April 2023, we received alerts—both online and by U.S. mail—stating that our W-8 tax forms were set to expire in 2023. This was incorrect. We had already updated and submitted the forms in 2022, with multiple confirmations from Schwab’s International Service Group at the time. We reached out via Schwab’s secure message center, reattached the documents, and included screenshots of the alert. No response. When we called in, the representative dismissed our concern, saying we were “overcautious” and that our forms were “in good standing.” He claimed the alerts were part of a mass notification and not specific to our account. But what about the physical mail we received? Are those mass mailings too? Something was clearly disconnected. We explained that Schwab’s tax reporting system wasn’t recognizing our updated forms. The rep told us “Trust me, I am the expert!” and he added, “You’ll be told the same thing if you call back—your forms are valid until 2025.” Guess what? Our accounts were hit with large tax withholdings. This was deeply upsetting. Not only did we have to spend weeks following up and trying to fix a problem we proactively tried to prevent, but we also faced potential CPA costs to resolve it. Updating: After several calls and persistent follow-up, we finally reached someone who was willing to listen and dig into the issue. They identified the error and helped correct it. We’re grateful for that—but it shouldn’t have taken this much effort. This entire situation could have been avoided if someone had simply taken the time to verify our account and forward the documents to the tax reporting department as requested. Instead, we were dismissed, misinformed, and left to deal with the consequences of Schwab’s internal disconnect. Serving others requires care and accountability. If you don’t enjoy helping customers, a service role may not be the right fit.