Complaints

This profile includes complaints for Charles Schwab Corporation's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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• 

  Charles Schwab Corporation

  3000 Schwab Way Westlake, TX 76262-8104

• 

  Charles Schwab Providence

  75 Fountain St Ste R1 Providence, RI 02903

• 

  Charles Schwab & Company, Inc.

  43 Lasalle Rd West Hartford, CT 06107

• 

  Charles Schwab Investments

  12500 Park Potomac Ave Potomac, MD 20854

• 

  Charles Schwab & Company, Inc.

  100 East Wayne Street Suite 325 South Bend, IN 46601

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:07/16/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  In May 2025, my Charles Schwab account was compromised through a highly sophisticated scam. I received what appeared to be a legitimate text alert from Schwab about fraud, followed by a call from someone impersonating Schwab. I unknowingly provided information that allowed two wire transfers to be initiatedone was intercepted, the other processed ($9015).I reported the fraud immediately. Despite this, Schwab has denied reimbursement, claiming I authorized the transfer. They later said I received warning emails months earlier, which I never saw. *** filed complaints with the ***, ****, and my Congressional representative. Schwab refuses to acknowledge their failure to warn or stop the second transfer, even after intercepting the first. As a long-time client, I feel completely unprotected and mistreated.

  Business Response

  Date: 07/18/2025

  July 18, 2025
  
  Dear Better Business Bureau,
  
  Re:Case ID ********
  
  I am writing in response to the July 16, 2025, correspondence to Charles Schwab &*********** regarding the above-referenced matter.  
  
  Charles Schwab thoroughly researched the concern and responded directly to the person initiating the inquiry you forwarded in accordance with required regulatory guidelines.
  
  Thank you for the opportunity to be of service in this matter.
  
  Sincerely,
  
  
  **** ********
  Resolution Manager
  Client Advocacy Team
  
  ************ / Fax **************
  Charles Schwab & **** Inc.
  ***********
  Mail Stop: PHXPEAK
  ***********************
  
  (1123-31MY)
  
  
  
  Investment and Insurance Products: Not a Deposit Not FDIC Insured
  Not Insured By Any ************************* ******* Guarantee
  May Lose Value
  
  
  
  
  

  Customer Answer

  Date: 07/18/2025

  I am rejecting this response because:   I am deeply disappointed with Charles Schwabs response. As a longtime client, I expected more than a generic dismissal of my concern especially after enduring the trauma of identity theft that resulted in over $9,000 being stolen from my account.
  On May 15, 2025, I received what appeared to be a security alert from Schwab. I was with my 86-year-old father at a doctors appointment, overwhelmed and emotionally stretched thin. The person on the phone posed as Schwab security and urgently warned that my account was compromised. Under the pressure of the moment, I followed their instructions just as I would have if it were truly Schwab because I trusted that my brokerage had my back.
  I reported the fraud immediately. One transfer was blocked, but $10,232.88 went out. Only $1,217.88 was recovered. Schwabs refusal to reimburse the remaining $9,015.00, citing a technical authorization, ignores the very real human factors at play and the sophistication of modern scams.
  Ive filed complaints with the ***, CFPB, FTC, **** and my local sheriffs office. Ive tried every channel Schwab has suggested. Still, no one has offered to make this right.
  I am not just a number on a case file. I am a daughter caring for aging parents, trying to protect what little we have. This loss is significant to our family, and it could have been prevented had Schwab implemented stronger safeguards or responded more compassionately.
  I respectfully reject Schwabs current stance and ask again for this to be escalated to someone within the company who still believes in doing the right thing. I am willing to participate in mediation if Schwab will meet me halfway. This situation is far from resolved.

  Business Response

  Date: 07/21/2025

  We have responded with a second email to the client, the initial resolution stands.

  Customer Answer

  Date: 07/21/2025

  I am rejecting this response because:   Response to BBB Regarding Complaint #********
  To the BBB Dispute Resolution Department,
  Thank you for the update. Ive reviewed the additional comment submitted by Charles Schwab.
  Unfortunately, their response fails to address the core issue of this complaint: that I was the victim of a highly sophisticated fraud involving impersonation of a Schwab employee during a moment of personal vulnerability while caregiving.
  I acted in good faith, believing I was cooperating with Schwabs security team. Despite my immediate reporting and appeals to multiple regulatory agencies, Schwab continues to deny reimbursementplacing full responsibility for the scam on me as the client.
  Their decision undermines trust and leaves clients unprotected in an environment where fraud tactics are rapidly evolving. I urge Schwab to reevaluate their position and consider the human and ethical dimension of this case, not just the technical one.
  I appreciate the BBB providing a platform for transparency and accountability. I remain hopeful for a fair and compassionate resolution.
  Respectfully,
  ********* D. ********

• Initial Complaint

  Date:07/02/2025

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am writing to lodge a formal complaint regarding significant delays and a lack of transparency in recognizing my role as the duly appointed Power of Attorney (POA) for Mr. **** *******, a client of Charles Schwab. All required and legally valid POA documentation has been submitted to your institution. However, I have encountered ongoing delays and inconsistent communication from your representatives, which raise serious concerns about the handling of this matter

  Business Response

  Date: 07/08/2025

  See attached letter.

• Initial Complaint

  Date:07/02/2025

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My **** *** incurred a tax liability in December of 2022; the tax was paid in full. Charles Schwab contacted me "Reference # TDA TY2022" in February 2025 that there were insufficient funds in my account to pay the same taxes that had been paid in 2022. I called customer service "case # *********" I was assured that the tax had been paid, and no further action was required on my part but on 5/22/2025 $65.65 was taken out of my account "UBTI ********* PMT" I contacted **************** and was told I needed to contact the *** to request a refund of the over payment. I believe this was a Charles Schwab mistake and that they should refund my money and they should request a refund from the ***.

  Business Response

  Date: 07/03/2025

  Please see the attached letter for the resolution.

  Customer Answer

  Date: 07/04/2025

  I have reviewed the business’ response and accept this
  resolution. 

• Initial Complaint

  Date:06/25/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  *On June 12, 2025, I initiated a wire transfer for $12,000 to pay off a mortgage as part of a real estate closing for home we are purchasing in **************. Schwab removed the $12,000 from my account and claimed to have wire transferred the money to ****** ****** has never received the wire transfer according to attached documentation. We are now two weeks and Schwab has not made the wire transfer. *We are contractually in violation of our closing agreement because of Schwab's actions.*Schwab has claimed ***** has received the $12,000 and that ***** has demanded additional compliance information from Schwab. Additional compliance information has been provided as demanded by Schwab to Schwab. *Schwab has refused to provide proof of a successful wire transfer to ***** for $12,000.*Schwab has failed to make the wire transfer for $12,000 to *******Schwab has refused to return $12,000 through wiring to personal bank account.

  Business Response

  Date: 07/03/2025

  
  

• Initial Complaint

  Date:06/23/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Charles Schwab froze my brokerage account and is holding my funds hostage with no legitimate justification. I am currently outside the **** with no access to my own money. This is unacceptable and dangerous.They are using an unrelated, incorrect ChexSystems flag from a ************* account I closed voluntarily which has nothing to do with the funds I deposited into Schwab. That ChexSystems re**** isnt even about fraud or loss its just a **** with no valid basis.The money in my Schwab account comes from a clearly traceable insurance payout from ********************** They know this. I have told them. I have submitted documentation. Still, they are treating me like a criminal.I am being told this is now in the hands of ********************************* Thats outrageous there is nothing illegal about my money and no explanation has been given to me in writing.Worse yet, I sent Schwab a formal legal demand via fax and email and I have confirmation that the fax was received. But they keep stalling and claiming it wasnt, just to delay ************* stranded in ******. I cant access my funds. My family is affected. And Schwab still has no valid reason for holding my money.

  Business Response

  Date: 07/02/2025

  
  
  
  Charles Schwab & *********
  ******************************************************************************************************
  
  
  July 2, 2025
  
  Dear Better Business Bureau,
  
  Re:Case ID ********
  
  I am writing in response to the June 23, 2025, correspondence to Charles Schwab & ********* regarding the above-referenced matter.  
  
  Charles Schwab thoroughly researched the concern and responded directly to the person initiating the inquiry you forwarded in accordance with required regulatory guidelines.
  
  Thank you for the opportunity to be of service in this matter.
  
  Sincerely,
  
  
  ****** (Chip) ******
  Resolution Manager
  Client Advocacy Team
  
  ************** / Fax **************
  Charles Schwab & **** Inc.
  ***********
  Mail Stop: PHXPEAK
  ***********************
  
  (1123-31MY)
  
  
  
  Investment and Insurance Products: Not a Deposit Not FDIC Insured
  Not Insured By Any ************************* ******* Guarantee
  May Lose Value
  
  
  
  
  

• Initial Complaint

  Date:06/20/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  The Bank Cancelled my ability to book a room with ******. I had to call your company because you locked my debit card with even having the professionalism of calling me or sending me an email to call your loss prevention department. I don't need banks that don't have a clue on common sense. Because you blocked my card I lost the price match with a total of $109 additional expense for my stay.

  Business Response

  Date: 06/27/2025

  Please reference the attachment. Thank you.

• Initial Complaint

  Date:06/17/2025

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I AM POWER OF ATTORNEY FOR AN ACCOUNT HELD BY MY STEPSON AND THEY HAVE DENIED ME ACESS TO THE ACCOUNT HAVE GIVING ME THE RUN AROUND FOR THE PAST FEW MONTHS I SEE THIS A RACIAL PROFILING ON THERE BEHALF

  Business Response

  Date: 06/23/2025

  June 23, 2025
  
  Dear
  Better Business Bureau,
  
  Re:
  Case ID 23482566
  
  I
  am writing in response to the June 18, 2025 correspondence to Charles Schwab
  & Co., Inc. regarding the above-referenced matter.  
  
  Charles
  Schwab thoroughly researched the concern and responded directly to the person
  initiating the inquiry you forwarded in accordance with required regulatory
  guidelines.
  
  Thank
  you for the opportunity to be of service in this matter.
  
  Sincerely,

  Dan Goeke
  Resolution Manager
  Client Advocacy Team
  
  800-797-2531  / Fax
  1-800-977-0122
  Charles
  Schwab & Co., Inc.
  211
  Main St
  Mail
  Stop: PHXPEAK
  San
  Francisco, CA 94105
  
  (1123-31MY)
  
  
  
  Investment
  and Insurance Products: Not a Deposit • Not FDIC Insured
  •
  Not Insured By Any Federal Government Agency • No Bank Guarantee
  •
  May Lose Value
  
  
  
  
  

• Initial Complaint

  Date:06/11/2025

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I created an investment account with ********************** on January 22, 2024. Shortly after making a transfer and a trade my account was blocked. I was told to send in documents verifying myself which I did.After that I heard nothing . Always told that they would email the fraud department. After one year of calling and hearing nothing back I went to a branch with all my documents. After I was told to wait 48 hours and my account would be unlocked. IT WAS NOT. I went back to the branch and was told it was indeed unlocked but locked again for security. Im confused cause I just went there and gave them all my documents. Now Im being told the same story when I call. I have my money in there and find it very disturbing that they are keeping it hostage. They wont even let me close the account . I am Seeking my account and money back or will take further action. Thank you.

  Business Response

  Date: 06/12/2025

  Please see attached. Thank you.

  Customer Answer

  Date: 06/12/2025

  I have reviewed the business response and accept this resolution. 

• Initial Complaint

  Date:06/09/2025

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Dear Better Business Bureau,Im filing a complaint against Charles Schwab regarding their mishandling of the inheritance process for my late sons account and repeated failures in customer service and communication.Weeks ago, I called Schwab to ask a general question about the inheritance process. The representative refused to answer unless I verified my own accountdespite me calmly explaining I was grieving and just wanted general guidance. She was rude, said she didnt understand me (though she clearly did), then placed me on silent hold until I had to hang up.I called back to complain. A manager said hed follow up, but no one ever did.After more than ten days of no updates, I called again on June 2, 2025. This time, the representative who answered the call admitted he had no idea what was happening. He could not tell me if a case manager had been assigned, or whether my documents had been processed. He then told me that a case manager was "waiting for someone else" and could not take your call. I asked him what should do, i will great appreciate if he give me some advice, then he put me again on silence. At this point, I felt like Charles Schwab was deliberately trying to avoid take responsibility. I was told a case manager would contact me. No one did.Eventually, I spoke to a manager named ******* who confirmed:My last documents were received on 05/21;2025 No case manager was assigned No one had followed up He promised Id be contacted within days. Its been four daysstill no call, no email, no update.This has caused me significant distress. Im simply trying to close my late sons account with dignity, but Charles Schwab has failed to provide even basic service or compassion.I am requesting:Immediate assignment of a case manager A phone call/email update within 3 business days A formal apology If unresolved, I may escalate to *****, regulators, or legal counsel.

  Business Response

  Date: 06/13/2025

  Please see attached letter

• Initial Complaint

  Date:06/04/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I opened an account since 2020 and may last month my money disappeared. I called the refused to tell anything and said someone will contact me , called a second time I was told my account was excheated because I was required to change my address without any communication. Now they unclaimed property have nothing for me where is my money? I called again the gave the state phone number to called no one cares.

  Business Response

  Date: 06/05/2025

  please see attached

  Customer Answer

  Date: 06/05/2025

  The company contacted me today to tell me theres nothing they can do about their mistake and it can take up to Six months before I can see my money. That they dont communicate with their customers by phone so they had no obligation calling me to ask if my address was correct or not before removed my money and look it up for six months before I retrieve it so calling them will be just a waste of my time. The best part of the story is I remain at same address didnt move therefore I wouldnt have any reason to change my address .  Im not sure what type of business does care about their customers because without customer what the need for business. Now it up to me to keep calling the state to find out about my money. Great response 

  Business Response

  Date: 06/06/2025

  please see attached

  Business Response

  Date: 06/09/2025

  Please see attached. 

  Customer Answer

  Date: 06/09/2025

  I am rejecting this response because:   I didnt get resolution for the mistake Schwab made by ********** my account for bad address while I am receiving correspondence from them now it will takes 6 months for me to get my funds.