Charles Schwab Bank

Recently Switched From TD Bank And Have Been Impressed So Far
- 767 - Saturday, March 19, 2011 - 8:04 PM

I recently switched to Schwab bank from TD Bank for my reimbursed ATM fee needs when traveling internationally and have been impressed so far. Customer service has been great. ACH transfers are quick but there is a 3 business day hold before the funds become available. I even received a personal call and letter thanking me for my business and telling me to call if I had any issues. The only thing I did not like was they did a hard pull in order to open the account.

Great Bank, Great Service.
- Degausser22 - Saturday, February 19, 2011 - 10:13 AM

I have been with Charles Schwab Bank since 2008, at the time I was unsure what difficulty I would encounter banking with a satellite bank with scattered brick & motor structure to go to, after 3 years I can say I am more than pleased with this bank.

Over 3 years, I have never had to dispute a charge, all ATM reimbursements have been correctly and timely added back to my checking account on the 1st of the following month. The interest rate has dropped from 2% to .25% in the same time, but remians competitive in the market place. All postmarked envelopes to mail checks to the bank's Reno, NV location have come and are delivered in a timely fashion. 

Customer service has been great, I call and I get a human from the U.S., no transfering around and waiting. They have answered any questions I may have. The website is easy to navigate and simple to use. I have expanded into brokeragetrading and opening a Schwab IRA through my expireience with the Bank.

I highly recommend this bank if you are looking for great service and competitive marketplace banking products, but those inetrested need to have a level of comfort with online banking. 

Great Experience Thus Far
- embargo - Monday, January 10, 2011 - 8:14 PM

Having read some of the reviews on this site and others about the banking services provided by Charles Schwab Bank and got the right amount information and decided to sign up.  For starters, because of the type of account I created (Joint Tenants) I had to mail in my application.  The account was setup within a week (during the hoilday I must say which was pretty impressive).  Once the account was setup I needed to phone the customer services department and I was pleasantly surprised by the fact that a human actually answered the phone (can't remember the US City she referenced).  But the experience with the customer service representatives was by far the best I've encountered since using online banks!  While its been a short amount of time, this journey is off to an excellent start!

Was Great When I First Started....
- cidenzo - Thursday, October 27, 2011 - 1:29 PM

This bank was hands down the best bank I have ever dealt with. For the past 4 years I have had an account with this bank and have had no problems whatsoever. I even got my girlfriend to switch her account and be done with Bank of America

Up until recently that is...
First transactions were not posting to my online ledger as fast as I remember them usually doing so. On top of that bill payments through the online system were also not showing up. Calls to customer service to inquire did nothing.

Then came the hammer.... 
I had an unauthorized transaction from a company I deal with for roughly $400.00. Without going into too many details, this bank did practically nothing! What the company did was charged my debit card I had used to pay a bill once without my ok. While fighting with this company I called Schwab because I was getting nowhere. 

After explaining this to Schwab, they attempted to issue a stop payment but were unable to do so because they explained it was a pending payment. They then proceeded to try and contact the company and were blown off. They then came back and told me they would do whatever they can to solve the situation which is where there help stopped. 

I had a car payment go through and a personal check which thankfully were covered (my account went into the red because of this). Direct deposits went in a few days later, and none of my current bills were being paid. After finding out from my insurance company and 2 credit cards (which hit me with late & returned fees) I called Schwab. She told me they froze my bank account. The rep then tried to tell me I was told this was happening which is not true. According to her any dispute on any transaction and they freeze all activity except deposits for 10 days!?!

She then was basically telling me I was irresponsible and my account was overdrawn (of course it was because of an unauthorized charge!!!) 

This bank was great 4 years ago, but when you run into trouble, forget it!

I LOOOOOOOVE THIS BANK!!!!!
- BLEUXMAN - Monday, July 16, 2012 - 2:49 PM

NOT SINCE I HAD AN ACCOUNT WITH CHEMICAL BANK OF NY, BANK IN THE EARLY 90'S BEFORE THAT AWFUL, CORRUPT CHASE BANK MERGED WITH THEM, HAVE I HAD AS GREAT AN EXPERIENCE WITH A BANK. CITI SUCKS, CHASE SUCKS, BOFA SUCKS, INDEPENDENCE (NOW SOVEREIGN) SUCKS, TD SUCKS (COMMERCE WAS OK BEFORE THE MERGER BUT STILL SUCKED) ALL OF THEM SUCK BUT CHARLES SCHWAB IS THE BEST NON BRICK AND MORTAR BANK. GREAT SERVICE, QUICK, GREAT WEBSITE, COOL EASY USER FRIENDLY APP., CHECKING, SAVINGS, INVESTMENTS ALL IN ONE! LOVE IT. LOVE IT. LOOOOOVE IT! HIGHLY RECOMMEND THEM BASED ON MY EXPERIENCE.

No Loyalty
- EdwinMarsh - Monday, April 16, 2012 - 11:03 AM

Schwab is an OK bank if you want to have a savings or checking account, but don't waste your money on becoming a "Private Client". They provide weak advise and demonstrate lack of accountability. Be warned - stay away from their paid services.

Excellent Service, Extreme Convenience!
- jmhobson - Sunday, April 15, 2012 - 9:54 AM

I recently opened my first checking account with Schwab, and am already highly impressed! The service reps have been very helpful (a rarity theses days). The perks are what really make it worthwhile:

• unlimited free ATM access anywhere
• free VISA debit card
• NO maintainence fees
• unlimited free checks
• unlimted free check depositing (by prepaid mail or smartphone)
• easy-to-navigate website

Although mailing in a check does mean it won't be credited to your account instantly, the last few I have sent in have all been cleared within 5 business days from the day of mailing, and judging that it takes about 3 days to reach their headquarted from where I live, that's not too bad. The only other con is that the interest rate is 0.1% APY, but since you don't get much more from savings accounts these days, this isn't much of a factor.

Since I have never had a checking account soley in my name before, at least a dozen different banks denied me based upon a lack of credit history before I found Schwab. If you're looking for a free convenient checking account and don't have a credit history, this is a great choice for you!

One more thing... just because they are an online bank doesn't mean they don't have physical branches. I just found one about 3 miles away from my house in Providence, RI.

Great Bank!
- Ycarrillo1 - Wednesday, February 8, 2012 - 9:51 PM

Zero monthly fees, zero balance required!  Unlimmited Atm reimbursments, free bill pay, and it comes with a brokerage account for trading and investing, excelent service. It has an award winning android and iphone investing app. Their webpage is full of financial information about investing and tools to help you be financially in good shape. I would definitely recommend this bank! It is a strong and powerfull 5 star Bank.

A Great Bank
- JimenaLoft - Saturday, October 8, 2011 - 8:55 PM

I have been banking with Schwab since 12/2009. I opened an account when I received an internationally traded stock. Many investment banks in the US do not do their own international transactions, and customers end up paying a higher premium to a middle-man. Banking with my checking account has been a great experience. The ATM refund is convenient, and the interest is appreciated; it's low, but other banks aren't offering any better. There are no random or regular fees charged to my checking. The customer service is excellent! I have suffered economic hardships recently, and any other bank would have added to my troubles. Schwab helped.

Schwab Mobile Deposit For I Phone And Android
- Mike - Thursday, June 16, 2011 - 11:20 PM

I am a client, but I haven't used it (mobile deposit) yet.  Just wanted to point out that it is available.

http://content.schwab.com/mobile/mobile-deposit.html

It is a 5 star organization.  Not great rates.  Great people.  The rates used to be great... back when their plain jane checking was paying 4%. 

Extremely Helpful And Professional
- Anonymous - Monday, June 4, 2012 - 3:59 PM

Recently switched from CitiBank - oh my goodness what a difference. Everyone seems informed, helpful, professional and able to assist with any reasonable issue. They answer the phone rapidly, staff their call center with knowledgeable reps (presumably in the US) and are truly a pleasure to bank with.

Oh, I did i mention none of those BS fees that CitiBank felt compelled to charge at every possible occasion.

Highly recommend!

Charles Schwab - A Piece Of Crap
- Anonymous - Thursday, January 19, 2012 - 4:02 AM

I have a company account with Charles Schwab with about $5,000 stuck with them now. I have been trying to get it transferred to Vanguard, with strong push back from CS.

In order to transfer, I made an online request with Vanguard, and also received a Form from them which I filled and sent back to Vanguard, authorizing the transfer from CS to Vanguard - the Vanguard Form has a field for a CS Account Number - could not find any Account Number in any of the correspondence from CS, so called CS and after a spending about an hour, was told by a CS representative that my SSN was my Account Number, and that is what I need to provide in the Form from the new Firm.

I sent over the completed and signed papers to Vanguard, and hear back from them that CS has rejected the Transfer on the grounds that the Account Number provided is "Incorrect".

I called CS again, and NOW they tell me that I have to fill up a CS Form to effect the Transfer. I start getting irritated, and the rep says "hold on, let me see if I can do something," and I tell him to buzz off and send me the Form, and that I do not want to have anything to do with them again.

NEVER EVER recommending this piece of **** company to anyone again.

I wish Government did a better job of governing the 1% rather than the Internet strangling bill they are straddling!

Best Bank Out There In My Opinion!
- Anonymous - Friday, September 30, 2011 - 10:59 PM

I have been using Schwab for awhile now and they are just great! I love the way they post items - in order of purchase, timely - even on Sundays some items get processed. I just love it! Works great for me and there Bill Pay is the Best I have ever seen! You won't be disappointed if you decide to go with Schwab! They are the way to go!