Complaints About Schwab Message Board

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Non-Tech : Complaints About Schwab

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To: Brian Sullivan who wrote (169)	3/28/2000 9:40:00 AM
From: Jeffry K. Smith	Read Replies (1) of 196

Brian & thread, Any luck yet with your account transfer? I read your Schwab story with some sense of detachment until yesterday. I too am a Schwab Platinum customer and yesterday I put in a buy/write order for a stock I was to later find was non-marginable. Anyway, after the order was filled I checked my buying power only to find I had an enormous margin call! So I called my team and was told that the fact the stock was non marginable was on the order confirm screen - in the fine print, the fine print which on every other occasion has "yea, I know that" information. Hiding in there was the fact that the stock was non-marginable - a fact I expected to find on the "special margin requirements" web page, or to have more prominently displayed. Well, not to go through all the gory details, but I ended up speaking to a very, very rude and insulting "Chairman's Division" person, who acted like he was God himself. Anyway I am wondering whether you or anyone else knows who I can call to raise Cain about this @#$%^&* ? I have not yet been able to sell of the stock which caused the margin call - I'll be sitting on the computer for today and (I hope not) tomorrow. Regards, Jeff Smith

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