Charles Schwab Corporation is one of the largest brokerage firms in the United States, providing a comprehensive suite of financial services to both individual investors and institutions. Their offerings include investment accounts, trading solutions, banking services, and retirement planning, all designed to help clients achieve their financial goals. With a strong focus on innovation and customer service, Schwab empowers investors with the tools and resources needed for informed decision-making in today's dynamic market. Visit schwab.com to learn more about how they can support your investment journey.
Charles Schwab receives overwhelmingly negative feedback, with many customers expressing frustration over account management and service quality. Reviewers frequently mention feeling trapped or scammed, particularly regarding issues with account security and the handling of funds.
Complaints about bounced checks and confusing verification processes are common, leading to a perception of poor customer service. While some users appreciate Schwab's ThinkOrSwim platform and acknowledge the professionalism of certain staff members, these positives are overshadowed by the overall dissatisfaction. Many consumers advise against opening accounts, citing a lack of support and accountability. Overall, the sentiment is predominantly negative, reflecting significant concerns about the company's reliability and service.
Summary generated with AI from recent reviews
Each source counts by its number of reviews. Only reviews written by people are scored.
| Source | Rating | Reviews | Weight | 6-mo | Fake risk |
|---|---|---|---|---|---|
Trustpilot Imported Trustpilot reviews | 1.6 | 200 | 100% | -0.1 | ● Low |
Monthly average rating from reviews written by people · latest review Jan 2026.
| Month | Average | Reviews |
|---|---|---|
| Feb 25 | 1.5 | 24 |
| Mar 25 | 1.7 | 13 |
| Apr 25 | 1.3 | 22 |
| May 25 | 1.4 | 9 |
| Jun 25 | 2.3 | 14 |
| Jul 25 | 1.4 | 13 |
| Aug 25 | 1.9 | 11 |
| Sep 25 | 1.4 | 11 |
| Oct 25 | 1.5 | 12 |
| Nov 25 | 1.4 | 10 |
| Dec 25 | 1.7 | 15 |
| Jan 26 | 1.5 | 29 |
Share of positive (4–5★) and negative (1–2★) reviews mentioning each topic · based on the 200 most recent reviews.
“They have excellent online fillable PDF forms, extensive helpful information for new investors, good customer support...”
“They lured me into opening account promising that as an European I will trade US ETFs through them”
Same method for every company: overall rating, legitimacy checks, the average rating of reviews mentioning each area and the 6-month trend · Money & Insurance.
| Company | Overall | Legit | Service | Website & app | Value | Trend | Reviews |
|---|---|---|---|---|---|---|---|
 | 1.6 out of 5 (poor) | 100 out of 100 | 2.0 out of 5 (poor) | 1.6 out of 5 (poor) | 2.0 out of 5 (poor) | −2% | 200 |
| 4.2 out of 5 (good) | 100 out of 100 | 3.3 out of 5 (fair) | 3.0 out of 5 (fair) | — | — | 1,200 | |
| 4.7 out of 5 (good) | 100 out of 100 | 4.7 out of 5 (good) | 4.6 out of 5 (good) | 4.7 out of 5 (good) | — | 1,060 | |
| 4.8 out of 5 (good) | 100 out of 100 | 4.9 out of 5 (good) | 4.7 out of 5 (good) | 4.7 out of 5 (good) | — | 1,060 | |
| 4.8 out of 5 (good) | 100 out of 100 | 4.7 out of 5 (good) | 4.0 out of 5 (good) | 3.9 out of 5 (good) | — | 1,060 |
Bottom line: Charles Schwab is #5 of 5 on overall rating in this group. On website & app, JustCover Travel Insurance scores higher (4.7 vs 1.6).
200 reviews of Charles Schwab. Filter by what matters to you.
They have been really good to me. Always provide great customer service and all investment products you may need. I particularly love the convenience of using any ATM in the world with zero fees. I only wish cash deposits were easier. That's the only downside.
I was at my wit’s end,couldn’t access my funds but all thanks to Ravinloops I got my $90k back
I have been a loyal customer for many years, but I've been locked out of my account due to their claim that I broke some rules which is not even in the contract. And it's been impossible to reach customer support, I have sent countless emails which was ignored. Now my money is sitting in my account without been able to collect it out. Right now, all I can think about is cëntury 100 They are straightforward, transparent, and every withdrawal I've requested has been handled promptly.
Quick answers to the questions people ask most.
Charles Schwab offers a variety of account types including individual and joint brokerage accounts, retirement accounts such as Traditional and Roth IRAs, as well as checking and savings accounts. Each account type is designed to meet different financial goals, so it's important to review the features of each to determine which best suits your needs.
Charles Schwab offers $0 commission on online stock and ETF trades, which makes it a cost-effective option for investors. However, there may be fees associated with certain mutual funds, options trading, and other specialized services, so it’s advisable to review the specific fee schedule on their website.
You can reach Charles Schwab's customer support team via phone, chat, or secure messaging through your online account. They also have a comprehensive help center on their website, where you can find answers to common questions and access resources for account management.
Yes, Charles Schwab offers a mobile app that allows you to manage your accounts conveniently from your smartphone or tablet. The app provides features such as trading stocks and ETFs, checking account balances, transferring funds, and accessing market updates and research tools.
Charles Schwab offers a robust suite of research tools including market analysis, stock screeners, and third-party research reports. You can also access educational resources such as articles and webinars to enhance your investing knowledge and help you make informed decisions.
Yes, you can transfer your existing brokerage account to Charles Schwab through a process called an ACAT transfer. Schwab provides an online tool to guide you through the transfer process, and they can assist with the necessary paperwork to facilitate a smooth transition.
Withdrawals from a Traditional IRA are typically subject to income tax, and if you take a withdrawal before age 59½, you may incur a 10% early withdrawal penalty. Roth IRA withdrawals may be tax-free if certain conditions are met, including the account being open for at least five years. It's advisable to consult with a tax advisor for personalized guidance.
Anyone can write a CrowdTrust review. People who write reviews have ownership to edit or delete them at any time, and they'll be displayed as long as an account is active.
I've been a client for 20 years and have only experienced superior customer service. During that time, I transferred all of my brokerage accounts to Schwab to take advantage of easy access, excellent advice, 24 hour service, low to no fees, and an easy to navigate website. I had to call them just now to help with a wire transfer problem triggered by security on my computer. The service rep talked me through an alternate approach and the wire went through. The whole procedure took about 10 minutes. I highly recommend this bank & brokerage firm.
In August of this year I opened an account online with Shwab in anticipation of money to be received from my late father's estate, also with Charles Schwab. I then received a request to send in a hard (paper) copy of the application which I did from overseas. Fedex cost: $ 60. I then received a request to send in a signed and notarized letter of authorization which I did. Cost: $ 30. I was then told that I had to send in a copy of my ID which I did. Cost: $ 6. I was then told that the ID was illegible and that I would have to resend it which I did. Cost : $ 7. I funded my account last week by linking my checking account from another institution to my Schwab account and purchased some shares of stock. When I went to sign onto my account I found that I was locked out and I had to call, which I did. I was told that I was under investigation for fraud and that my shares had been SOLD and my funds were returned to my originating bank and that if I wished to proceed, I would have to write a letter of explanation and send in proof of my bank account and funds which I did. Cost: $ 7. Instead of communicating with me or asking me for information, C. Schwab liquidated my account and accused me of fraud. I'm not sure how I could defraud myself since the funds came from my own personal account but in any case, this apparently is how Charles Schwab treats its customers. At this point, I have very little faith and confidence in Charles Schwab to hold and manage my account and to act professionally and courteously towards its customers. This has been going on for THREE FULL MONTHS. It is an outrage. They offer no solutions, no apologies and no consideration for their unprofessional behavior and attitude. Follow up to my story: After PROVING that I have funds and that the funding account is in my name, I called three different times and finally spoke to a Schwab rep today who told me that they CLOSED my account. Once again, no call, no email, no notification whatsoever. Caveat emptor. On the plus side, I'm glad I found out how awful they are BEFORE sending in a big deposit. Disgraceful treatment and service. Quite astonishing, really. I'm glad, at least, that I found out how unprofessional and inconsiderate they are BEFORE sending them a much larger deposit. Beware and save yourself the grief that I went through. Follow-up story: after 4 months and letters of complaint, etc Schwab actually addressed my issues and made an effort to make me whole. They investigated, apologized, and credited my account with the money I had lost so I kept my account open and made a trade. I am going to see how things go with them before deciding how to proceed with future transactions but the moral of the story is to stick to your guns, be tenacious and sometimes the consumer can win.
I feel so disappointed about them lately This place used to be my favourite, but their services are gradually gotten worse over time since the take over. I wouldn't pick them over the amazing #Apex# #point# #llc#. I recommend.
They dont let me move money like td ameritrade used to. Trades are not free. They don't let me trade my OTC position without a phone call and charge a lot to do so. I had to call them because my OTC position disappeared completely when they took over. It's horrible. I'm so frustrated and have had enough of their horrible web service. Everything about their service and ease of use seems like TD Ameritrade transfered my account to a scam service when Schwab took over. 0 out of 10, do not open an account with them for general banking or otherwise. It's my money and I need it now.
They are the worst. They blocked every payment I received or sent without being able to provide a good reason. They don't find any solutions when we call them, they just repeat the same script over and over. What are they doing with this money they hold for sometimes 10 days?
This bank used to be excellent. Now not so much. I recently had my debit card info stolen off a card I never use. I reported it and they took the report and all but did not care in the slightest. Based on my lack of debit card use I think it was stolen internally. I will be moving all my accounts
I opened an account from the UK as I was returning to the US for a job. Had the account for about a month, received and used a debit card, etc. Then made my first payroll deposit and the account was frozen. That was October 31. It is now November 18 and I can get no information whatsoever on when I'll have access to those funds. Found a local branch and provided copies of drivers license, the cashiers check I deposited and a utility bill. Their "fraud" team has had that documentation for 10 business days now and still no response whatsoever. I had to open another account with a local bank so I could pay my rent. They suspended my account for an international payment and once I provided the required documents they had it fully functional again in 10 minutes.
I am writing this message as a long-time customer of Charles Schwab to share my devastating experience and to warn you about the serious risks associated with this company. For several years, I trusted Schwab with my investments, only to have my entire portfolio – including my favorite high-growth stock – suddenly and inexplicably liquidated without any notice, explanation, or consent. The funds from these sales simply vanished, stolen by the company’s own team. This is not an isolated mistake; it is deliberate theft, an illegal scheme, and outright fraud.Charles Schwab operates like a criminal organization, arbitrarily seizing customer assets regardless of how long you’ve been with them. They even forced changes to my private account password, cutting off all access while they emptied my holdings. What they have done is a crime – robbery disguised as brokerage services. I worked tirelessly for years to build my savings, and in one ruthless act, this fraudulent company wiped it all out. No customer is safe. If you value your hard-earned money, please act immediately: withdraw your funds and move your business to a reputable, regulated platform.
I've used Schwab's checking accounts for years and they're fine. No surprise fees. No foreign transaction fees. It reimburses you for overseas ATM fees.
I've been a Schwab customer for over 10 years, and I've overlooked the quirks. The final straw for me came this week, as they denied a request to temporarily increase my zelle limits -- causing me to be late on a payment to my daycare despite the money being in my account. Their customer service didn't even bother to follow up and tell me about the denial or offer any alternatives. They've given me no options to move my own funds. It's time to switch to another bank.
Ever since Charles Schwabthey took over the think or swim platform that platform has got slower and slower and slower, especially on mobile when TD Ameritrade had this thing it was fast and up-to-date
I used Schwab to hold my equity awards. Never liked their trading platform, always confusing to navigate. Worse, it was always an absolute pain to move money to my outside account in my home country, several times the money transfers got bounced back, with signifcant exchange rate losses that couldnt be explained by market movements alone. Since I no longer work for the company that put my equity awards into a Schwab account I am very happy to finally close my account and relationship with Schwab.
You would think it is simple to create an investor checking account with Charles Schwab. Well, it isn't. I called in advance to determine if I needed to take any action before applying and the banking division representative said I needed to unfreeze all three credit bureaus. I did that. However, the banking division kept saying they could not get my credit reports but I knew for a fact they were open. This went on for a few days. Finally, I spoke to someone in the verification department who said the banking division was wrong. It turns out that they really did not want credit bureau reports, what the really needed was ChexSystems reports. I was trying to fund my brokerage account by doing mobile deposits, and suddenly my mobile deposits were denied. The message on the phone app was that my account was no longer eligible for mobile deposits. I have never had any trouble opening accounts at any financial institution before and this has been nothing but frustration. My checking account is still not open and my brokerage appears to be unusable. Pathetic.
Someone please wake up the CEO, he allowed the compliance person free reign, and that makes it, probably, impossible to open an account if you are non us citizen based overseas. I can open and operate an account with many trading-apps, but I can’t open an Thinkorswim account without being an expert in form filling, and I’m not an expert in form filling. That means I’m unable to open a ThinkOrSwim account. Opening an account is too complicated. I want a ThinkOrSwim account because it supports my trading style --- some apps do not even allow me to place a limit-order unless I phone the order in. I’m not into simple apps and like fully fledged trading platforms, so please! A point of worry: I can login, but I assume that I have not passed the compliance because I can’t find the funding/withdrawal screen. If you hide the screen now, what are the other circumstances where you hide the screen? I hope Schwab take note and make opening a Thinkorswim account as easy as many apps. Yours W. Jensen
They are on the whole pretty good compared to their competitors. Their debit card is really handy and does not rip off on FOREX rates unlike most banks. It's the least hassle so far, and they have real people, not some poor English, scripted person in the third world parroting rubbish (looking at you Capital One and Chase, and Xfinity, the worst of the worst). Downsides:- Linking accounts is a hassle, as is typical with most institutions, it shatters into pieces for no particular reason with their "verification" algorithm that is poorly designed, relies on bad third party data and has no manual override. Their staff just wring their hands as if the brokenness were done by some mysterious spirit they are powerless to intervene about and have no means to escalate to senior management who have a tin ear. This drives people nuts and limits my willingness to trust them with money. They think they can second guess, countermand and treat customers like infants. The mindset is BAD. This is a common failing of the "digital revolution" /AI many companies waste vast sums on, believing slick IT salesmen selling them garbage promises only to harm their business and customers who find themselves thwarted instead of leaving stuff alone that works, or at least used to work. I've been with them 20 years and would say it has gone downhill as they add more and more layers of krud to their IT. Opening a company account is completely impossible, takes hours and is vastly frustrating, then gives a message "try again another time" (and so losing all the work and time investment) which seems to be the industry "standard" (bad). In that sense, they are no worse than the other bad companies the finance sector that seems crippled by their increasingly Byzantine IT and process for its own sake over function. Besides that, better than the others and pretty good provided you don't touch anything that might break the delicate and brittle IT they use.
Yes, Charles Schwab provides several tools for retirement planning, including retirement calculators and personalized retirement planning services. These resources can help you estimate how much you need to save, evaluate your current savings strategy, and determine the best investment options for your retirement goals.
A Schwab checking account offers benefits such as no monthly maintenance fees, unlimited ATM fee rebates worldwide, and access to online bill pay and mobile check deposit. Additionally, it seamlessly integrates with your investment accounts, making it easy to manage your finances in one place.
You can access your Schwab account statements and tax documents through the online account portal or mobile app. All statements are available in a secure digital format, and you can choose to receive them via email or download them directly for your records.
Charles Schwab Corporation is one of the largest brokerage firms in the United States, providing a comprehensive suite of financial services to both individual investors and institutions. Their offerings include investment accounts, trading solutions, banking services, and retirement planning, all designed to help clients achieve their financial goals. With a strong focus on innovation and customer service, Schwab empowers investors with the tools and resources needed for informed decision-making in today's dynamic market. Visit schwab.com to learn more about how they can support your investment journey.
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