Charles Schwab Bank Reviews

3.6 out of 5 stars
15 Reviews

From Account Holders in the last year


Application Process

3.5 out of 5 stars

Customer Service

3.5 out of 5 stars

3.5 5

Most Helpful Positive Review

Nov 13, 2012
tw1nsfan Account Holder

Awesome service, low fees. There is also no foreign transaction fees with their debt card and the exchange rate for foreign transactions is very very low. Love this bank!

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Most Helpful Negative Review

Jun 16, 2014
Worst experience...huge headache!
Anonymous Account Holder

The application process was standard. We also left a voided check so that they could setup the money transfer and we would have the debit cards in a few weeks' time. 2mos. passed and we heard nothing from them, other than tons of mail about their other services. When we called they said they lost the check and so they could not setup any transferring options. So we went through the process of setting this up in 2 ways and finally did see money transfer into the account. However, now we needed the debit cards quickly due to an international trip so they charged us $30 to rush the cards. Not happy about that since the error was on their side (Schwab lost a voided check afterall) but we did get the debit cards before we left. Setup a 3rd transfer to enter into our account the day before we left and the ENTIRE 17 day trip the money never showed. Now we had two $30 debit cards to an account with no money in it. We ultimately had to use another account and pay the foreign fees. So once again, all of Schwab's benefits proved worthless. 

When we get home and start searching for the missing money (it had left our old account and never made it to the Schwab account) they go about finding it and re-imbursing it. However, they now charge us a "re-stocking fee" as a result of their eror yet again. This has been the WORST banking experience I have ever had. I ultimately spent money trying to fix Schwab's errors. Even after planning ahead 2 months the entire process fell flat and left me with fees to Schwab and foreign fees at my original bank. Had I known this, I would have never wasted time with Schwab and will happily pay foreign fees to my original bank (Chase) where at least I know I have access to my money.

Thank you Schwab for nothing.  

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These reviews were written by current and former account holders in the last year.

Apr 12, 2017
Anonymous Account Holder

Easy to deal with

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Apr 03, 2017
Anonymous Account Holder

Awesome product. No In network or Out of network ATM fee. No minimum balances.

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Mar 23, 2017
Good online bank, no ATM/foreign fees!
Thomas777999 Account Holder

Overall, Schwab offers a good online banking product, if you can live without brick and mortar branches.  They are the only bank I have used that offers full rebates on ATM and foreign transactrion fees.  Its a great choice for frequent travellers.  Its also a benefit to have the brokerage account, so you can easily move money back and forth.  The two downsides are getting the account up and running, which can be a little slow and its not really a "high yield" account at 0.10% APY...  Be aware that they do put a 4 day hold on ACH tranfers from an external bank account.  The way around this is to initiate the transfer from Schwab not your external account.    

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1 Reply
Apr 24, 2017

If you don't mind me asking what kind of credit score did you have when applying? I want to apply for a trip I will be going on but am scared of the HP doing damage to my credit before I travel.

Mar 13, 2017
Incompetent Trustee Services
Anonymous Account Holder

Had them as a trustee of my Dealware trust and it took them months to get trust opened, endless requests for the same information that they lost.  Now they want to charge me as if they are managing my money.  Customer service has no clue.  Avoid.

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Feb 04, 2017
Professional and helpful
arthurbrownleeiv Account Holder

I've been with CS since 2007 when they first started their heckling services. In that time, I've never had a complaint. Their phone staff are helpful, always there, and professional. Deposits generally go through next day from my phone. When I had my card number stolen, they had the money back in my account the same day. 

Over all, I'll likely never leave them. I've had other local banks over the years and always wind up disappointed. 

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Jan 12, 2017
Easy to do Business With
BeefaloSpringer Account Holder

Great customer service, easy to use, ATM fee rebate, to foreign transaction fee, chip protected debit card, on-line bill pay service.  We like it very much.

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Dec 17, 2016
Anonymous Account Holder

I have an online checking account with them that I've had for a few months. Support has been excellent so far, they always refer me to American customer support that knows what it's doing even if I have questions at 5 AM. The only problems so far have been low interest rate on their savings accounts and you are required to open (but not fund) a brokerage account in order to get a checking or savings account. The lack of fees and ATM reimbursement are also great, but be aware that online banks generally have no way to deposit cash at ATMs.

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Nov 30, 2016
Very poor communication skills at their
Gringolandia Account Holder

They are eager to accept you as a client and then the problems began....had to use my daughters address as we travel. They wanted to see my name on a utility bill....closed the account after that

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Nov 14, 2016
Horrible bank
mngharry Account Holder

Horrible bank. Originally opened a checking account with them to avoid ATM fees and foreign transaction fees because I am a frequent traveller. However, every time I've tried to use the card, there have been issues that have prevented it. Everything takes days or even weeks to process. Usually takes 10 days to deposit a check. Expect to have to send in physical mail forms and handwritten letters for most things you want to do. Worst of all, they randomly suspended my account. When I called in to regain access, they said my birth date as well as all my other personal information was wrong. I was told to go into a branch to fix this. When I went to the branch, I was told to send a notarized letter to fix it. That sealed the deal for me and I will no longer be banking with Schwab. 

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Nov 11, 2016
I can't say enough good things
Anonymous Account Holder

I will say I'm a pretty low maintenance customer. I have had this checking account for over eight years and never had a complaint. Everything is free and all atm fees are reimbursed; what is there to complain about? I gave up on brick-and-mortar banks a long time ago. The one issue is depositing cash but I deal with less and less cash so it really has become a mute point. I remember when you had to mail in all checks, with mobile banking this account is solid gold.

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