Poor experience with Schwab

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strafe
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Joined: Sat Mar 03, 2007 11:49 am

Poor experience with Schwab

Post by strafe »

From time to time, I see posts on this forum of complaints about Vanguard customer service. My experience with Vanguard has been great. I wanted to share my poor experience with Schwab.

The Schwab website login has been broken for many weeks. The website always shows a message “This system is temporarily unavailable. Please try again later. For urgent trade-related matters, please call us at 800-435-4000.” I find it to believe that they can’t fix their website.

I have tried calling customer support but the hold times are always excessive (>10 min). Online chat support was no use and directed me to call the phone support. There is no option to schedule a phone call.

Based on my experience I would recommend avoiding Schwab.

UPDATE/RESOLUTION: I spent about 45 min on the phone with Schwab and was passed around to 3 different departments. The third representative immediately diagnosed the problem and informed me this was a "known issue" for my account type (view-only access for a family member) caused by a software failure in Schwab's system with no definite timeframe for repair. The solution was to have the out-of-state family member and me complete a paper form and fax it in. Appreciate the handful of posters who provided thoughtful advice.
Last edited by strafe on Sat May 22, 2021 6:41 am, edited 3 times in total.
jarjarM
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Re: Poor experience with Schwab

Post by jarjarM »

I have not have any issues with Schwab webpage or mobile app. That's interesting. As for customer service, all brokerage firms are having issues with call in and chats due to substantially higher volume of request.
Marseille07
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Re: Poor experience with Schwab

Post by Marseille07 »

jarjarM wrote: Wed Mar 10, 2021 6:49 pm I have not have any issues with Schwab webpage or mobile app. That's interesting. As for customer service, all brokerage firms are having issues with call in and chats due to substantially higher volume of request.
They keep claiming high volume for a while, but I also feel they have had a year to deal with it. It's part of the cost of doing business.
AZAttorney11
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Re: Poor experience with Schwab

Post by AZAttorney11 »

strafe wrote: Wed Mar 10, 2021 6:47 pm From time to time, I see posts on this forum of complaints about Vanguard customer service. My experience with Vanguard has been great. I wanted to share my poor experience with Schwab.

The Schwab website login has been broken for many weeks. The website always shows a message “This system is temporarily unavailable. Please try again later. For urgent trade-related matters, please call us at 800-435-4000.” I find it to believe that they can’t fix their website.

I have tried calling customer support but the hold times are always excessive (>10 min). Online chat support was no use and directed me to call the phone support. There is no option to schedule a phone call.

Based on my experience I would recommend avoiding Schwab.
The good news is Vanguard doesn't offer online chat or scheduled phone calls, so you won't be disappointed with them.

I'm surprised you've had issues accessing Schwab for "many weeks." Seems to be an outlier.
jpmorganfunds
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Re: Poor experience with Schwab

Post by jpmorganfunds »

Their website is working fine. Must be your computer.

https://www.schwab.com/
Makefile
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Joined: Fri Apr 22, 2016 11:03 pm

Re: Poor experience with Schwab

Post by Makefile »

strafe wrote: Wed Mar 10, 2021 6:47 pm From time to time, I see posts on this forum of complaints about Vanguard customer service. My experience with Vanguard has been great. I wanted to share my poor experience with Schwab.

The Schwab website login has been broken for many weeks. The website always shows a message “This system is temporarily unavailable. Please try again later. For urgent trade-related matters, please call us at 800-435-4000.” I find it to believe that they can’t fix their website.

I have tried calling customer support but the hold times are always excessive (>10 min). Online chat support was no use and directed me to call the phone support. There is no option to schedule a phone call.

Based on my experience I would recommend avoiding Schwab.
Try clearing all schwab.com-related cookies
MishkaWorries
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Re: Poor experience with Schwab

Post by MishkaWorries »

I haven't had any problems logging onto Schwab all week. Maybe clear your cookies and restart your computer.

10 minute hold time is excessive? I noticed this week they've taken down the banner saying hold times are longer than expected. It seems Schwab has addressed the issue of long hold times for CSR.
We plan. G-d laughs.
DharmaBum
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Re: Poor experience with Schwab

Post by DharmaBum »

Are you using a VPN? Try turning it off. Ascensus and BofA sometimes give me a hard time for the same reason.
NancyABQ
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Re: Poor experience with Schwab

Post by NancyABQ »

MishkaWorries wrote: Wed Mar 10, 2021 7:00 pm I haven't had any problems logging onto Schwab all week. Maybe clear your cookies and restart your computer..
Same. I log in basically every day, and the website has been fine. Clear cookies, restart browser, restart computer, try a different browser, etc.
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Peter Foley
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Re: Poor experience with Schwab

Post by Peter Foley »

I have used Schwab for investing and bill paying without any issues.

Here in the Twin Cities many local Schwab reps are working from home, not in the office. So contacting the local office doesn't work very well. I have the business card for my rep so I can call that number directly.
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Wiggums
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Re: Poor experience with Schwab

Post by Wiggums »

Have you tried a different browser?
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AlohaJoe
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Re: Poor experience with Schwab

Post by AlohaJoe »

Marseille07 wrote: Wed Mar 10, 2021 6:52 pm They keep claiming high volume for a while, but I also feel they have had a year to deal with it. It's part of the cost of doing business.
I know what you mean (and it isn't just Schwab). Yesterday I called customer support for two different groups and both of them claimed they are "currently" experiencing high call volume. On a Wednesday at 11am, a notoriously high-volume time :? ... One was over 10 minute wait. The other was over 30 minute wait.

Like you said, it has been a year for all these groups to deal with it. :(
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ResearchMed
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Re: Poor experience with Schwab

Post by ResearchMed »

I log onto the Sdhwab website, and our accounts, very regularly, in pert to double check that all is as it should be, but especially because I use their mutual fund research.

I haven't had any difficulties getting on, during the trading day or after hours.

OP= could there be some setting on your computer that is interfering?
You have not been able to get on even once recently?

As for customer service, fortunately, we haven't had much need for it recently.

RM
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Nate79
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Re: Poor experience with Schwab

Post by Nate79 »

strafe wrote: Wed Mar 10, 2021 6:47 pm From time to time, I see posts on this forum of complaints about Vanguard customer service. My experience with Vanguard has been great. I wanted to share my poor experience with Schwab.

The Schwab website login has been broken for many weeks. The website always shows a message “This system is temporarily unavailable. Please try again later. For urgent trade-related matters, please call us at 800-435-4000.” I find it to believe that they can’t fix their website.

I have tried calling customer support but the hold times are always excessive (>10 min). Online chat support was no use and directed me to call the phone support. There is no option to schedule a phone call.

Based on my experience I would recommend avoiding Schwab.
Unfortunately it sounds like the problem is on your end. I suggest you correct the title of your thread.
Topic Author
strafe
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Re: Poor experience with Schwab

Post by strafe »

Nate79 wrote: Wed Mar 10, 2021 7:18 pm
strafe wrote: Wed Mar 10, 2021 6:47 pm From time to time, I see posts on this forum of complaints about Vanguard customer service. My experience with Vanguard has been great. I wanted to share my poor experience with Schwab.

The Schwab website login has been broken for many weeks. The website always shows a message “This system is temporarily unavailable. Please try again later. For urgent trade-related matters, please call us at 800-435-4000.” I find it to believe that they can’t fix their website.

I have tried calling customer support but the hold times are always excessive (>10 min). Online chat support was no use and directed me to call the phone support. There is no option to schedule a phone call.

Based on my experience I would recommend avoiding Schwab.
Unfortunately it sounds like the problem is on your end. I suggest you correct the title of your thread.
Multiple computers, multiple browsers.
Thank you for the snide advice.
The problem is with Schwab
Topic Author
strafe
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Re: Poor experience with Schwab

Post by strafe »

jpmorganfunds wrote: Wed Mar 10, 2021 6:59 pm Their website is working fine. Must be your computer.

https://www.schwab.com/
Happens on multiple computers
Topic Author
strafe
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Re: Poor experience with Schwab

Post by strafe »

Makefile wrote: Wed Mar 10, 2021 7:00 pm
strafe wrote: Wed Mar 10, 2021 6:47 pm From time to time, I see posts on this forum of complaints about Vanguard customer service. My experience with Vanguard has been great. I wanted to share my poor experience with Schwab.

The Schwab website login has been broken for many weeks. The website always shows a message “This system is temporarily unavailable. Please try again later. For urgent trade-related matters, please call us at 800-435-4000.” I find it to believe that they can’t fix their website.

I have tried calling customer support but the hold times are always excessive (>10 min). Online chat support was no use and directed me to call the phone support. There is no option to schedule a phone call.

Based on my experience I would recommend avoiding Schwab.
Try clearing all schwab.com-related cookies
Tried didn’t work
Topic Author
strafe
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Re: Poor experience with Schwab

Post by strafe »

MishkaWorries wrote: Wed Mar 10, 2021 7:00 pm I haven't had any problems logging onto Schwab all week. Maybe clear your cookies and restart your computer.

10 minute hold time is excessive? I noticed this week they've taken down the banner saying hold times are longer than expected. It seems Schwab has addressed the issue of long hold times for CSR.
Yes, 10min hold is excessive. I am not retired.
inverter
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Re: Poor experience with Schwab

Post by inverter »

Your account is likely blocked/locked out on Schwab.com, which is just a problem you would experience. There are a number of legitimate reasons why they would do that.
Last edited by inverter on Wed Mar 10, 2021 7:51 pm, edited 1 time in total.
UpperNwGuy
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Re: Poor experience with Schwab

Post by UpperNwGuy »

strafe wrote: Wed Mar 10, 2021 6:47 pm From time to time, I see posts on this forum of complaints about Vanguard customer service. My experience with Vanguard has been great. I wanted to share my poor experience with Schwab.

The Schwab website login has been broken for many weeks. The website always shows a message “This system is temporarily unavailable. Please try again later. For urgent trade-related matters, please call us at 800-435-4000.” I find it to believe that they can’t fix their website.

I have tried calling customer support but the hold times are always excessive (>10 min). Online chat support was no use and directed me to call the phone support. There is no option to schedule a phone call.

Based on my experience I would recommend avoiding Schwab.
Something is definitely wrong with your computer or internet connection because I have had no problem logging into my Schwab accounts over the last several weeks. The problem appears to be on your end.
Topic Author
strafe
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Re: Poor experience with Schwab

Post by strafe »

Problem is not with my computer.
Based on replies, I will entertain the possibility there is an idiosyncratic issue on Schwab’s end with my account registration. If that is the case 1) Schwab customer service should be responsive to my inquiries and 2) website should not (falsely) claim there is a technical error.
Have never had an issue with other brokerages.
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Chicken lady
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Re: Poor experience with Schwab

Post by Chicken lady »

I just checked the Schwab customer support site. Since this has apparently been going on for weeks and every computer to which you have access is affected, why don't you just send them a letter requesting assistance?
Oregano
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Re: Poor experience with Schwab

Post by Oregano »

I am logged into and active on Schwab.com all day, every day during market hours. Haven't had any problems at all.
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neurosphere
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Re: Poor experience with Schwab

Post by neurosphere »

inverter wrote: Wed Mar 10, 2021 7:51 pm Your account is likely blocked/locked out on Schwab.com, which is just a problem you would experience. There are a number of legitimate reasons why they would do that.
What's not clear is whether the OP can't GET to schwab or gets to schwab and the error message is AFTER trying their credentials. I suspect the latter, and it's something to clarify.

I agree that a locked account could account for that message.
If you have to ask "Is a Target Date fund right for me?", the answer is "Yes" (even in taxable accounts).
UpperNwGuy
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Re: Poor experience with Schwab

Post by UpperNwGuy »

strafe wrote: Wed Mar 10, 2021 7:53 pm Problem is not with my computer.
Based on replies, I will entertain the possibility there is an idiosyncratic issue on Schwab’s end with my account registration. If that is the case 1) Schwab customer service should be responsive to my inquiries and 2) website should not (falsely) claim there is a technical error.
Have never had an issue with other brokerages.
In that case, you need to control your impatience and wait out the greater than ten minutes hold time and talk to Schwab about what problem may exist and why they're treating your login differently from other users.
Topic Author
strafe
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Re: Poor experience with Schwab

Post by strafe »

neurosphere wrote: Wed Mar 10, 2021 7:56 pm
inverter wrote: Wed Mar 10, 2021 7:51 pm Your account is likely blocked/locked out on Schwab.com, which is just a problem you would experience. There are a number of legitimate reasons why they would do that.
What's not clear is whether the OP can't GET to schwab or gets to schwab and the error message is AFTER trying their credentials. I suspect the latter, and it's something to clarify.

I agree that a locked account could account for that message.
The message is presented after entering login credentials.
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anon_investor
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Re: Poor experience with Schwab

Post by anon_investor »

strafe wrote: Wed Mar 10, 2021 7:48 pm
MishkaWorries wrote: Wed Mar 10, 2021 7:00 pm I haven't had any problems logging onto Schwab all week. Maybe clear your cookies and restart your computer.

10 minute hold time is excessive? I noticed this week they've taken down the banner saying hold times are longer than expected. It seems Schwab has addressed the issue of long hold times for CSR.
Yes, 10min hold is excessive. I am not retired.
If you think a 10 min hold is excessive, you probably do not call customer service any where very often. Since Covid, hold times anywhere have been much much longer. Few brokerages will offer shorter wait times, and if they do, you are likely paying an AUM or have a very large account with a dedicated rep.

As another poster mentioned, your account is probably locked and you need to talk to someone on the phone.
Last edited by anon_investor on Wed Mar 10, 2021 8:04 pm, edited 1 time in total.
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neurosphere
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Re: Poor experience with Schwab

Post by neurosphere »

strafe wrote: Wed Mar 10, 2021 7:59 pm
neurosphere wrote: Wed Mar 10, 2021 7:56 pm
inverter wrote: Wed Mar 10, 2021 7:51 pm Your account is likely blocked/locked out on Schwab.com, which is just a problem you would experience. There are a number of legitimate reasons why they would do that.
What's not clear is whether the OP can't GET to schwab or gets to schwab and the error message is AFTER trying their credentials. I suspect the latter, and it's something to clarify.

I agree that a locked account could account for that message.
The message is presented after entering login credentials.
Ok, so the website is working for you and others. But at the point of trying to access your account YOU get an error message and others don't. I'll bet the generic "temporarily unavailable" message is to prevent others who may have your credentials from seeing a message like "your account is locked call us to unlock it" or "we detected fraud" or whatever.
If you have to ask "Is a Target Date fund right for me?", the answer is "Yes" (even in taxable accounts).
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dmcmahon
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Re: Poor experience with Schwab

Post by dmcmahon »

jpmorganfunds wrote: Wed Mar 10, 2021 6:59 pm Their website is working fine. Must be your computer.

https://www.schwab.com/
+1
gonefishing01
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Re: Poor experience with Schwab

Post by gonefishing01 »

Oregano wrote: Wed Mar 10, 2021 7:55 pm I am logged into and active on Schwab.com all day, every day during market hours. Haven't had any problems at all.
Same. Website and Mobile App have been reliable all day everyday for me.

You should call your local branch rep. They can expedite to get to the bottom of it and you won’t have to wait around on hold for support.
Seasonal
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Re: Poor experience with Schwab

Post by Seasonal »

Unfortunately, many web sites say "temporarily unavailable" when an account is locked or there is some other issue with the account.

Unfortunately, 10 minutes wait time is all too normal these days. There are many major institutions that are substantially worse.
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JAZZISCOOL
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Re: Poor experience with Schwab

Post by JAZZISCOOL »

I log on to Schwab often with no issues.

Given your long-term frustration, have you thought of using Twitter to send a public message to their CEO Walt Bettinger?? That should attract some attention and would be quicker than a letter.

https://twitter.com/WaltBettinger
philpill
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Re: Poor experience with Schwab

Post by philpill »

i constantly use schwab.com and for weeks find no problem . It is you or your computer. try different bowser. we can't all be in error.
bradinsky
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Re: Poor experience with Schwab

Post by bradinsky »

I log on daily to check our accounts. I’ve never had any issues doing so. Also, on Monday, 3/8, I called customer service at Schwab & had a rep in about 3 minutes. OP, you really might want to look at the set up on your end.

Brad
MishkaWorries
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Re: Poor experience with Schwab

Post by MishkaWorries »

philpill wrote: Wed Mar 10, 2021 8:35 pm i constantly use schwab.com and for weeks find no problem . It is you or your computer. try different bowser. we can't all be in error.
It sounds like OPs account has been locked.

He's too busy to wait 10 minutes for a rep to come on the line and tell him if his account has been locked because someone has illegally accessed his account or attempted to access his account. We all have different priorities.
We plan. G-d laughs.
Cyclone

Re: Poor experience with Schwab

Post by Cyclone »

I had a similar problem with Schwab once. My user name was something like "JohnS". (Of course that is not my real username - I was using my first name and the first initial of my last name.) No matter what I tried, I could not get in. When I finally called them, they said I was getting locked out for using the wrong password. I knew I was using my password. After getting transferred to someone else, she speculated that another John had opened an account with Schwab, thought he used "JohnS" as his user name, but actually used something similar but different. Three times a day he would try to log into the "JohnS" account, then we both got locked out because he had a different password. She suggested changing to a different user name. I had her add the first initial of my middle name, so my user name was now "JohnQS". I never had a problem after that.

Nobody needs to tell me that my user name is too easy to guess.
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anon_investor
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Re: Poor experience with Schwab

Post by anon_investor »

MishkaWorries wrote: Wed Mar 10, 2021 8:44 pm
philpill wrote: Wed Mar 10, 2021 8:35 pm i constantly use schwab.com and for weeks find no problem . It is you or your computer. try different bowser. we can't all be in error.
It sounds like OPs account has been locked.

He's too busy to wait 10 minutes for a rep to come on the line and tell him if his account has been locked because someone has illegally accessed his account or attempted to access his account. We all have different priorities.
I would be worried my account was drained...
cumulus
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Re: Poor experience with Schwab

Post by cumulus »

I receive this error message too, but only as a popup after I open the mobile app after forgetting that I had turned off cellular data for the app and I’m not on WiFi. (So I get the message because the app can’t connect to a network).

Is it a new account? Have you ever successfully logged in?
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Nate79
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Re: Poor experience with Schwab

Post by Nate79 »

Cyclone wrote: Wed Mar 10, 2021 8:45 pm I had a similar problem with Schwab once. My user name was something like "JohnS". (Of course that is not my real username - I was using my first name and the first initial of my last name.) No matter what I tried, I could not get in. When I finally called them, they said I was getting locked out for using the wrong password. I knew I was using my password. After getting transferred to someone else, she speculated that another John had opened an account with Schwab, thought he used "JohnS" as his user name, but actually used something similar but different. Three times a day he would try to log into the "JohnS" account, then we both got locked out because he had a different password. She suggested changing to a different user name. I had her add the first initial of my middle name, so my user name was now "JohnQS". I never had a problem after that.

Nobody needs to tell me that my user name is too easy to guess.
I had this same thing happen to me a few years ago. Same recommendation, change user name and password and no more issues.
SrGrumpy
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Re: Poor experience with Schwab

Post by SrGrumpy »

Sorry about the difficulties, and I tend to agree that businesses have been a bit lax about getting their phone support up to speed. Still, a 10-minute wait isn't exactly torture, especially if you can multi-task. Why don't you grasp the nettle on Thursday, and let us know what happened. Hopefully you can spend the weekend surfing the Schwab research pages to your heart's delight.
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unclescrooge
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Re: Poor experience with Schwab

Post by unclescrooge »

MishkaWorries wrote: Wed Mar 10, 2021 8:44 pm
philpill wrote: Wed Mar 10, 2021 8:35 pm i constantly use schwab.com and for weeks find no problem . It is you or your computer. try different bowser. we can't all be in error.
It sounds like OPs account has been locked.

He's too busy to wait 10 minutes for a rep to come on the line and tell him if his account has been locked because someone has illegally accessed his account or attempted to access his account. We all have different priorities.
Or maybe he's fraudulently trying to access someone else's account? :twisted:
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typical.investor
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Re: Poor experience with Schwab

Post by typical.investor »

strafe wrote: Wed Mar 10, 2021 7:59 pm
neurosphere wrote: Wed Mar 10, 2021 7:56 pm
inverter wrote: Wed Mar 10, 2021 7:51 pm Your account is likely blocked/locked out on Schwab.com, which is just a problem you would experience. There are a number of legitimate reasons why they would do that.
What's not clear is whether the OP can't GET to schwab or gets to schwab and the error message is AFTER trying their credentials. I suspect the latter, and it's something to clarify.

I agree that a locked account could account for that message.
The message is presented after entering login credentials.
It could be your account is locked for security reasons.

I had that happen after using a debit card while traveling. Service was good though.

Perhaps someone has tried accessing your account.
Last edited by typical.investor on Wed Mar 10, 2021 11:38 pm, edited 1 time in total.
sfnerd
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Re: Poor experience with Schwab

Post by sfnerd »

No problems here, and I log in via VPN, non-VPN, mobile app, web, etc.

All fine. It’s probably your account. Just call them.

The other day my ATM card was fraudulently used online, and they disabled it as a preventative measure after contacting me. I called them up, waited on hold for less than a minute, and they shipped me a new card to Thailand at no cost to me. Pretty great customer service.

Over the years they’ve been pretty great. Nobody is perfect.
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