Checking or savings account -- Managing an account -- Complaint #6088239
Complaint Overview
Complaint ID: 6088239
Company: Charles Schwab Corporation, The
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Funds not handled or disbursed as instructed
State: California
ZIP Code: 947XX
Date Received: 2022-10-14T12:00:00-05:00
Date Sent to Company: 2022-10-14T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have had reoccurring problems with my bank, Charles Schwab, refusing to grant me access to my funds in what amounts to a pattern and practice of withholding funds. This pattern has been ongoing for over a year, and I have attempted to resolve it with the bank many times to no avail. For example, in XX/XX/2022, I was in California and tried to put a rental car on my debit card ; Schwab declined my card, and when I called the bank, the representative put me on hold for nearly an hour even though I told her the card was in my possession and I was a valid card holder. Similarly, on XX/XX/2022, I was in XXXX XXXX XXXX, and I tried to place an XXXX on my debit card. Schwab declined the transaction, and when I called to tell them it was valid, they claimed another name was associated with my account, even though I had been validated through the online system, and they confirmed my account security code. Most recently, on XX/XX/2022, Schwab sent me a text telling me that my account had " fraudulent activity '' ; I called the number online, and validated the transaction with a person from the brokerage side, who then emailed me a number for the bank ( on the bank website ) that was broken ( despite me previously having told Schwab the number was broken and that this violated consumer protection laws. Later that day, even after validating the transaction through Schwab 's automated system, my purchase for a pair of glasses was denied. Later, a Schwab customer service representative told me that there was a fraud alert on my card, even though I had resolved it. There are many more incidents like this that I could relate. For CFPB 's information, I am a lawyer, and I take concerns like this very seriously.
Frequently Asked Questions
What is Complaint #6088239 about?
Complaint #6088239 was filed against Charles Schwab Corporation, The regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-10-14T12:00:00-05:00.
How did Charles Schwab Corporation, The respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Charles Schwab Corporation, The?
Yes, visit the Charles Schwab Corporation, The company profile at readthecomplaint.com/company/charles-schwab-corporation-the to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.