Schwab is not FDIC insured
This bank is not FDIC insured. Additionally they don’t protect their consumers from fraud. I sent over documentation about a crime that occurred and they denied my chargeback without a formal investigation. I’m above 800 credit and have never had a chargeback denied except recently with Schwab.
I have had to jump through dozens of hoops with Schwab anything from setting up bill pay to being able to wire $ to family… and now I refuse to use their banking except the rare incident I’m overseas and even then as a backup.
They bought TD Ameritrade which transferred my accounts over, additionally I opened an account because they have no exchange fees overseas but their “fraud” department doesn’t have an international number to call them back and verify your identity and transactions. They post numerous international numbers that you can never call from overseas. This is even after registering an upcoming trip. No wireless calling or paid international calling. Even their chat function says you MUST call to verify identity and transactions with fraud department which when I paid for a local US number while overseas ultimately ends up being an automated system anyway.
I took a path of least resistance and used their banking services but now I’m going to spend a week just closing down all accounts, it’s a sham company








