CFPB COMPLAINT DATABASE
137 real consumer complaints filed against Charles Schwab Corporation, the at the Consumer Financial Protection Bureau in the last 12 months. 7 received relief from the company. Median federal response time: 15 days.
These complainants filed at the CFPB and the company refunded or credited money in response. The CFPB doesn't force outcomes, but it does force a response in 15 days.
Charles Schwab is holding my funds in bad faith. ( {$4000.00}. Cashed on XXXX XXXX ) The issuing bank ( XXXX XXXX ) has confirmed the check is valid and the funds have been successfully debited from the source. Schwab is refusing to release my property and is demanding redundant documentation for a cleared transaction, effectively seizing my assets without cause.
I am writing regarding my Investor Checking Account, which was closed following a fraud alert placed on my profile. After being notified of the alert, I promptly visited the nearest branch in person and verified my identity with valid government-issued identification, as instructed. I was then directed to submit proof of payment via fax, which I completed immediately. Shortly thereafter, I was informed that my account would be closed and that I would receive a check containing my remaining balance within 79 business days. It has now been approximately 30 days since I was given that timeframe, and I have not received my check. I have also not received a clear explanation as to why my account was permanently closed after I complied fully with all verification requests. As a direct result of this delay in receiving my funds, I was unable to pay my rent on time and have incurred {$400.00} in late fees. This has caused significant and avoidable financial hardship.…
On XXXX/2025 I filed a complaint with this Bureau. Complaint ID was XXXX. The reason why I filed is because Charles Schwab Bank XXXX ( hereinafter, CS ) unilaterality closed my accounts. After multiple requests, I could not get the Bank refund me the money I had in my account. CS responded to my complaint ( response is attached ) saying that I should physically go to a branch to verify my identity. On Friday, XX/XX/XXXX, 2025, at around 4:45 XX/XX/XXXX, I went to the branch located at XXXX XXXX XXXX, XXXX XXXX, in XXXX, FL. I was greeted by the receptionist, to whom I explained the situation, he asked me for my ID, I provided my Florida 's Driver License ( attached ), he took a copy of it for the bank records, and told me I would receive my money soon. I never heard back from the bank.…
I am writing to file a formal complaint about the ongoing and unexplained restriction of my Charles Schwab account. XX/XX/XXXX : I contacted Schwab and was told my account was restricted without any explanation. XX/XX/XXXX : I called the Fraud Department and was informed that certain transactions needed to be verified. I verified those transactions and was told my account would be unrestricted by the end of the day. Later that same day, when I attempted to sign in, I discovered my account was suspended instead, with no reason provided. I called again and was told I needed to provide funding, which I did the same day. XX/XX/XXXX : I received an email stating that a review was in progress and would take XXXX days. As of XX/XX/XXXX : I have called multiple times for updates, but no one has explained why my account remains inaccessible. This situation has caused significant inconvenience and financial uncertainty.
I had a checking account with Charles Schwab containing approximately {$1200.00} of my own funds. In XX/XX/2024, I received a fraudulent job offer in the mail related to a car wrap advertisement ( claiming to be from XXXX XXXX ). The scam involved mailing me a check and instructing me to deposit it, then withdraw the funds to give to a third party. I did deposit the check, but I immediately became suspicious and did not withdraw, spend, or transfer any of the funds. Despite this, Schwab froze and closed my account. As a result, my original {$1200.00} ( which I had before the scam check ever arrived ) has been withheld for more than 8 months. I have made more than XXXX phone calls to Schwab and spoken with multiple representatives and managers both by phone and in person. XXXX of the managers I spoke with by phone was XXXX XXXX at XXXX, extension XXXX. I also visited a Schwab branch, bringing proper identification and my trusted contact listed on the account.…
The 30 most recent complaints against Charles Schwab Corporation, the where the consumer chose to publish their narrative.
We used Schwab bill pay system to pay for our long term care insurance. The system created two checks for a total of about {$4000.00}. Both checks were cashed by someone. We were notified by our insurance company that they never received the checks. When we looked at the address on the canceled checks we saw the address was incorrect. We are not the ones that input the address on the checks, Schwab does this. In fact we have no way of entering the the address or editing it. This is all done by Schwab. We have been in constant contact with Schwab about this and they have done nothing. This has now been going on for over six weeks and nothing is being done by Schwab to get our money back or to explain how this happened. The checks were cashed on XX/XX/year>.
I am filing a complaint against XXXX XXXX regarding an account freeze and restricted access to my funds. My account was locked immediately after receiving a legitimate XXXX payment from my employer. I have already gone in person to verify my identity and provided my Social Security card, identification, birth certificate, and bank statements. Despite fully verifying my identity, my account remains restricted and I have not been given a clear explanation, resolution timeline, or specific reason for the continued hold. This situation is causing financial hardship as I am unable to access my money. I am requesting that XXXX XXXX either immediately release my funds or provide a clear, documented reason for the continued restriction along with a defined resolution timeline. I have made multiple attempts to resolve this directly with the bank without success. I am requesting immediate assistance in resolving this matter.
I am filing this complaint against Charles Schwab Bank , XXXX regarding multiple Regulation E violations, a denied fraud dispute, failure to issue provisional credits, retaliatory account closure, and failure to provide periodic account statements. The full scope of this complaint is detailed below. * * IDENTITY THEFT AND FRAUD DENIAL * * I am a documented identity theft victim with FTC Identity Theft Reports ( Nos. XXXX and XXXX ), a XXXX XXXX Mail Theft case ( No. XXXX ), a police report, and notarized documentation proving I was physically in XXXX, XXXX while unauthorized transactions were processed in my XXXX accounts. The perpetrator, XXXX XXXX, was occupying my XXXX residence without authorization and used my devices and credentials to make unauthorized XXXX transfers totaling over {$1200.00} from my Schwab checking account ( ending XXXX ). On XX/XX/XXXX, I filed Dispute Case No. XXXX.…
I am filing a complaint regarding a denied unauthorized transaction claim totaling XXXX. I reported multiple transactions as unauthorized. Charles Schwab Bank denied my claim and later issued a final determination refusing to reopen the matter after I submitted a formal written rebuttal on XX/XX/2026. Schwabs determination relies on XXXX chip usage, PIN verification, and XXXX XXXX data. These factors do not establish that I authorized the transactions. Under the Electronic Fund Transfer Act, 15 U.S.C. section XXXXg, the burden is on the financial institution to prove that a transaction was authorized by the consumer. Schwab has not provided evidence that I personally initiated or approved the transactions. Schwab is relying on the assumption that because a valid card and PIN were used, the transactions must be authorized. This does not establish the identity of the person who conducted the transactions. Schwab also relied on delivery confirmation and merchant documentation.…
On Saturday, XX/XX/XXXX, I attempted to log into my Charles Schwab online account to review both my savings and checking account balances .. A message appeared saying, " For your security, access to this account has been suspended. For assistance call Schwab at XXXX. '' I called the number and the rep told me that he saw that my account has been flagged for review. He said I would hear back on Monday, XX/XX/XXXX regarding my access getting restored. On Monday, XX/XX/XXXX, I tried to login to my account and the same error message appeared. So I called that XXXX number again and explained that I spoke to a rep on Saturday and I was told that I would have my account access restored today. The Monday rep told me that my account is still under review. I asked for the case number and the phone number for their security team. That info is Case number : XXXX ; Phone # : XXXX. I asked the rep if there is an XXXX on when my account access will be restored and he said he didn't know.…
On the evening of XX/XX/year>, I discovered my Charles Schwab Bank checking account ( Charles Schwab Bank , XXXX ) was locked when I attempted to log in. On XX/XX/year>, I visited my local Schwab branch in XXXX, New York in person and completed whatever verification was required. Since then, I have called Schwab customer service every single day. Each time I call, I am told that someone will reach out to me, but I have received no callback and no resolution. When I informed Schwab that I have no access to money for basic necessities including food, I was told they can not do anything. It is now XX/XX/year> 4 days since I discovered the lock and 3 days since my in-person branch visit. This is my only bank account. I recently moved into a new apartment in XXXX, New York and am trying to get settled. I have approximately {$500.00} locked in this account and no access to any other funds. I currently can not afford food.…
CFPB Complaint : Urgent Financial Hardship and Lack of Due Process To the Consumer Financial Protection Bureau, I am filing this complaint because Charles Schwab has frozen my entire financial life for no stated reason and with zero communication, causing catastrophic damage to my household during my first year of marriage and my first month of a new career. The Situation : My account was suspended without an email, a call, or a notification. When I reached out, I was told " fraud was detected, '' yet I have committed no fraud. I am a law-abiding citizen simply trying to pay my bills. To comply with their demands, I drove a significant distance to a physical branch to provide my proof of address in person. I was told the issue would be resolved in 4 business days. That deadline has passed. My account remains frozen.…
Re : Demand for Data Accuracy Verification and Correction CFPB File : XXXX To Whom It May Concern : I am writing to formally request verification, correction, and disclosure of any consumer information maintained, reported, or shared by Charles Schwab Bank , SSB in connection with the closure and denial of my accounts. Your XX/XX/year> response to my CFPB complaint confirms that a fraud investigation was conducted and that my accounts remain closed. However, the response does not clarify what data, if any, has been recorded internally or furnished to third parties as a result of that investigation. This letter serves as a formal demand under the Fair Credit Reporting Act, 15 U.S.C. 1681 et seq., and related provisions governing data accuracy and consumer reporting.…
I am filing this complaint regarding Charles Schwab Banks handling of my debit card dispute under Regulation E. On XX/XX/year>, I paid {$680.00} using my Schwab debit card to XXXX for fingerprinting services required for FBI submission. XXXX website advertises that it captures fingerprints strictly per FBI XXXX standards, ensuring acceptance, provides near-perfect prints, and performs on-the-spot quality validation so that nothing is left to chance. During my appointment, the technician acknowledged that the fingerprints obtained were not of good quality. The fingerprints were subsequently rejected. Rather than correcting their defective performance, XXXX demanded an additional XXXX to redo the prints. Because the contracted service compliant, usable fingerprints meeting FBI standards was not delivered, I disputed the charge with Schwab on the basis of breach of contract and failure to provide services as advertised.…
I was subject to fraud on XXXX XXXX, from XXXX. I asked their support to step in and help and they ruled in my favour. They refunded the amount, {$1000.00}, back to my debit card ( issued by Schwab Bank ) which was connected to my XXXX XXXX account. However, I reported that debit card lost between the period of the fraud happening and the refund, naturally. I was worried about further scams and I did what I should. When XXXX XXXX emailed me and said they refunded the {$1000.00} the debit card ending in XXXX. This is a Schwab Bank debit card which they acknowledge was mine, and has since been replaced. I've never had this issue where the money is lost in the XXXX XXXX, but after repeated calls to both XXXX and XXXX XXXX, XXXX can not find this money on the ledger. XXXX XXXX swears they sent it already, and refuse to help nor provide more details. XXXX is unable to find the money and unable to credit me the {$1000.00}.…
Since Tuesday, XXXX XXXX, 2026, Schwab has locked me out of my checking account and prevented me from curing returned deposited items or resolving any resulting negative balance. Schwab has refused to provide meaningful information, a resolution path, or a timeline. Schwab also contacted my long-standing bank, XXXX, and asserted that a wire I initiated was fraudulent, despite the fact that I had sufficient funds available at the time of the wire. This has created financial harm and reputational harm, and it remains unresolved after repeated calls and a branch visit where I provided ID and proof of income. Key facts and timeline Tuesday, XXXX XXXX, XXXX Schwab restricted access to my accounts. I was locked out of my checking account and could not conduct normal banking activity. XX/XX/XXXX to present I called Schwab repeatedly.…
On XX/XX/year>, a merchant ( XXXX XXXX, XXXX, Louisiana ) applied a separate 3 % processing fee to my debit card transaction. The purchase itself was authorized, but the additional surcharge was applied to a debit card. Card network rules prohibit surcharging debit card transactions. I filed a dispute with Charles Schwab XXXX for the surcharge portion of the transaction only ( {$0.00} ). I clearly explained that I was not disputing authorization of the purchase itself, but rather an improper fee added to a debit card transaction. Schwab denied the dispute, stating that the fee was charged by the merchant and posted prior to payment. I contacted Schwab and requested a re-review under incorrect dispute classification, explaining that this concerns a prohibited debit card surcharge and should be evaluated as an improper fee rather than an authorization or pricing dispute.…
Made a cashiers check online deposit on XX/XX/year>. Account had been set up close to two month before and had already {$500.00} in account prior to the cashiers check deposit from XXXX XXXX XXXX for {$3300.00} whereas Charles Schwab personnel flagged the deposit as fraudulent. I tried to resolve the matter multiple times with customer service but every single time I was given the go around carousel. Later in late XXXX, XX/XX/year>, the account was closed but as of XX/XX/XXXX the fund have yet to be refunded to me.
I am submitting this complaint regarding Charles Schwab Banks handling and reporting of my checking account after it was closed. My account was closed and reported to XXXX under the classification of account abuse. I believe this classification is inaccurate and does not reflect the circumstances surrounding the account activity or my efforts to resolve the issues. Prior to and following the account closure, there were unresolved issues and attempts on my part to understand and address the situation. Despite this, the account was reported in a manner that suggests intentional misuse rather than a disputed or unresolved account issue. XXXX XXXX investigation did not correct or reclassify the reporting, and the negative entry remains on my XXXX report. As a result of this reporting, I am now unable to open any checking account, including XXXX-chance accounts and credit union accounts, which has caused significant ongoing harm and loss of access to basic banking services.…
I was informed on XX/XX/XXXX that my checking account would be closed in XXXX days due to an international address I provided for mail purposes only. I do travel and am XXXX XXXX XXXX XXXX but still go back and forth to the US and was there XXXX months ago. The address was for mail only and I still have listed my US address as my primary. The account was cut off on or about the XXXX of XXXX and they did not give me time to set up new accounts but assured me that new debit cards would come prior to the account closure. This did not happen and my funds were moved out of my checking account to my brokerage account at Schwab. I have my social security deposited to this account and the funds transferred is my social security money. Changing account information for direct deposit will take time and the next check does not look like it will be available to me since to destination account has been closed. I am at a loss with no immediate access to my social security.…
am writing to formally object to your Final Dispute Resolution letter dated XX/XX/year>, and to request immediate reconsideration of your determination. Your decision states that the merchant provided documentation validating the disputed charge and that the cardholder received it. This conclusion is factually and legally flawed. Material Inconsistency in Merchant Documentation The merchant documentation you relied upon allegedly shows delivery or receipt ; however, the name listed as the recipient is not mine. I am the account holder, yet the documentation references a different individual. Delivery or receipt by a third party does not constitute authorization by the cardholder and does not validate the transaction under the Electronic Fund Transfer Act or Regulation E. A merchants record that names someone else as the recipient directly contradicts any claim that I, the cardholder, authorized or received the transaction.…
I am the beneficial owner of an IRA held by Charles Schwab XXXX XXXX. For several months, Schwab has denied me access to my account. I can not log in to the Schwab XXXX system ( it states my account does not exist, and XXXX recovery fails ), and Schwab refuses to process a transfer or distribution outside that system. Despite denying access and control, Schwab continues to hold my funds and assess fees. I have repeatedly contacted Schwab and have been unable to resolve this. I am requesting immediate restoration of access or manual processing of a transfer or distribution
I went to 2 different companies to purchase digital coins. The services was to use the sweepstakes and be able to redeem for cash. The companies services were inadequate and i wanted to have a refund since i have no touched the digital coins. I requested a refund for my money. The total amount was over {$33000.00}. I tried to contact both companies but their contact phone numbers and support do not work. These charges were from XX/XX/year> all the way to XX/XX/year>. I have no other way to get my money back. I have tried to contact my bank Charles Schwab but they are still pending investigation. They have claimed that some of the charges that total {$22000.00} will be denied due to the past 60 days statement. The rest are still in pending case but they have provided 0 provisional credit for me even though i questioned them about passing the 10 days thru Regulation E. The banks said this case does not apply. I have doubts about it.…
Charles Schwab XXXX XXXX Case Number : XXXX Charles Schwab continues to freeze all my assets and block access to all my accounts even after sending them proof of my identity and complying with all their demands, even after they have been informed of the financial duress and hardship this is causing me. Attached is copy of the the proof of my identity that I send to them per their request. This may be partially in retaliation and greed. Charles Schwab upset me with excessive delays on all my wires, and so I tried to wire all my funds to a different account. They have responded, possibly in retaliation, my freezing all my assets, which amounts to over {$100000.00} worth of funds including approximately {$81000.00} in my checking that I need immediately in order to complete investments within my 60 day rollover window.…
On XX/XX/XXXX I logged onto my Charles Schwab account and noticed multiple fraudulent charges which totaled {$4200.00} on my checking account. I immediately made contact with Charles Schwab 's customer service. During the interaction I was still in the process of investigating the exact amount of fraudulent charges and the dates that they began. I asked the representative to initiate the claim to Charles Schwab 's financial crimes department and I proceeded to make contact with the merchant ( XXXX ) to understand what took place as my XXXX check card was not lost or stolen thus I deduced that the merchant had a breach in their mobile application. I traveled to XXXX XXXX in XXXX of XXXX but returned back to my residence in XXXX on XXXX XXXX. Charles Schwab moved forward with the investigation and proceeded to correspond with me via email and confirmed that the unauthorized charges from XXXX to XX/XX/XXXX that I escalated were in fact fraudulent. Charles Schwab 's Financial Crimes Sr.…
On XX/XX/year> I discovered an unauthorized hotel charge from a XXXX property in XXXX posted to my Charles Schwab card ending in XXXX. I did not present this card at check-in and did not authorize the hotel to use it. I contacted Schwab immediately and reported fraud. I was told no provisional credit could be issued because the charge had not cleared by XXXX from XXXX, reference # XXXX. I was urged to confront the merchant. I am not safe returning to the hotel, and I have already reported theft at the property to police. Police report # XXXX I am requesting Regulation E error resolution for an unauthorized electronic transaction, including prompt provisional credit, a written outcome, and prevention of further unauthorized use. I can provide : screenshots of the posted charge, Schwabs subject to verification email, my account view, and my call notes with dates and times.…
In XX/XX/XXXX, I opened a Schwab Investor Checking account. Schwab verified my external XXXX XXXX account through two microdeposits, which I confirmed. I completed an initial {$50.00} transfer from the same XXXX XXXX account without issue. On XX/XX/XXXX, I initiated an ACH transfer of approximately {$900.00} from the same verified XXXX XXXX account into my Schwab account. Later that day, I enrolled in XXXX. Immediately after enrollment, Schwab suspended my XXXX access without explanation. I contacted Schwab and was told the XXXX department was closed and that a message would be sent to them. On XX/XX/XXXX, my Schwab account remained accessible and the {$900.00} transfer displayed a standard hold. On XX/XX/XXXX, I was unexpectedly locked out of my XXXXchwab account entirely. When I called Schwab, I was told the lockout was due to a need to verify that the funds came from my actual account, even though Schwab had already verified this same external account in XXXX.…
I was charged a surcharge/processing fee on a debit card transaction on XX/XX/year> at a local XXXXXXXX XXXX XXXX XXXX XXXX XXXX The fee was approximately XXXX XXXX and was applied at the time of payment. The transaction details are as follows : Total of Illegal Transaction - {$50.00}, Non-Cash Charge ( Fee charged for paying with a debit card ) - {$1.00}, Correct amount of the transaction had I not used a debit card with this merchant - {$48.00}. After observing a sign near the register I did inform the clerk processing the transaction that it was illegal to charge a processing fee on a debit card transaction which he then advised me it was their store policy and also seemed to just laugh it off. Debit card surcharges are prohibited under federal law ( Durbin Amendment to the Dodd-Frank Act ) and are also expressly prohibited under XXXX debit network rules.…
I sent a XXXX payment through Charles Schwab to purchase a puppy from an individual who represented himself as a breeder. The puppy was represented as healthy, properly cared for, and XXXX XXXX XXXX. After the transaction, the seller did not provide a vaccine card or any documentation. The puppy showed clear signs of illness and passed away less than 72 hours after purchase. I later discovered the puppy was not XXXX XXXX XXXX as stated, but approximately XXXX XXXX XXXX, meaning it should not have been separated from its mother. I attempted to obtain a refund and went to the sellers listed residence, where the landlord informed me the seller had fled, no longer lived there, and owed multiple months of rent. The landlord stated police had been contacted regarding the seller. I reported this as a scam to Charles Schwab, but my dispute was denied without a meaningful explanation of how seller misrepresentation and inability to locate the recipient were considered.…
" I am writing to formally express my dissatisfaction with the handling of my account reopening request. I previously held an account with Charles Schwab, which was closed in 2019. Recently, I attempted to reopen the account, following all required steps. However, due to the previous address associated with the account, my request was escalated to the fraud department. I complied fully, submitting all requested information and forms. Despite my efforts, I received no follow-up and felt I was given the runaround. When I reached out again, I was informed that my application was denied and that I can reapply in six months without a clear explanation. There was no indication of fraudulent activity ; the issue seemed to be solely related to the address. I believe this situation has been handled unfairly, and I request a thorough review of my case with the aim of reopening my account. I would appreciate a prompt response to clarify the next steps. ''
I received a XXXX gift from my XXXX in the form of a check for {$1500.00} which I deposited on XX/XX/year>, and Charles Schwab has now been holding for over a week ; moreover, upon inquiring about the status of my check, a spiteful representative issued a flag on my account that has locked me out of it, leaving me in financial hardship, unable to afford food and pay my rent, without access to any of my money.
On XX/XX/XXXX, a {$470.00} ACH payment from my Schwab Bank account ending in XXXX was returned with code XXXX Account Frozen. I contacted Charles Schwab multiple times to understand what was happening. They informed me that some restrictions on my account had been removed, but the account is still pending closure and I have not received clear information about when it will officially close. Schwab also closed access to my account, preventing me from using or accessing my funds, and I still do not know where the returned {$470.00} is being held or when it will be included in my final disbursement. Despite my repeated calls and requests for a formal ACH trace or claim, Schwab has not provided a timeline or written confirmation regarding the closure of my account or the return of my funds. I am requesting formal documentation of the returned funds, confirmation that the {$470.00} will be included in the final disbursement, and a clear timeline for the account closure.
I started an account with Charles Schwab : Investor / Checking Account I have had the following issues per paycheck : 1 ) Repeated denied blocks, including key bills 2 ) My account was frozen, on a payday, and I could not access an entire paycheck that I had received 3 ) Inability to transfer or move money, through payments like XXXX. Repeated blocked attempts Asking why this is happening is met with resistance and refusal.
Charles Schwab has restricted access to my account and deposited funds following an ACH transfer from my XXXX brokerage account. Schwab requested documentation of the ACH transfer, which I provided. Schwab later stated that the documentation was not logged and has repeatedly demanded resubmission without acknowledging internal mishandling or providing a reliable intake method. My account remains locked, I have XXXX access to my funds, and Schwab continues to require phone calls for any information while offering no written updates, resolution timeline, or confirmation of review. Schwab representatives have acknowledged that prior phone calls could be reviewed but have failed to conduct that review or restore access. I am being required to repeatedly re-verify my identity while my funds remain inaccessible. This prolonged restriction and lack of communication has caused financial harm.…
Consumers/ Account Holders : XXXX XXXX XXXX XXXX XXXX XXXX : Charles Schwab & Co. , Inc . Account Type : Brokerage Account ( Joint ) Date Account Was Restricted : Approximately [ insert date if known ] Preferred Methods of Contact : ( XXXX ) XXXX ( XXXX ) XXXX Summary of Complaint Charles Schwab & Co. , Inc. restricted our joint brokerage account for an internal review more than one month ago and has failed to provide any meaningful update, explanation, or timeline, despite repeated efforts on our part to obtain information. On the first day the account was locked, we promptly uploaded all documents requested by Charles Schwab. Since that time, our account has remained restricted with no written communication, no status update, and no indication of when the review will be completed. Detailed Description of the Issue Our brokerage account was locked by Charles Schwab for review without advance notice.…
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