SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Complaints About Schwab
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Jeffry K. Smith who wrote (185)3/28/2000 11:57:00 AM
From: Brian Sullivan  Read Replies (1) of 196
 
The transferred to Fidelity was difficult as I had to call the (unlisted) DTC transfer of accounts phone number (800) 648-5300,166003# and wait on hold for 30 minutes each time to talk with anyone who could do anything about the transfer. I had to call them three or four times to push them to do the transfer. I was told that they had a large back order DTC transfer requests. It really seemed like Schwab is just not trying to fix this problem, they want it to be back logged.

The transfer itself is still not right as they transferred share of a stock that had spilt the day before the transfer and the Fidelity spilt the stock again the day after the transfer so Schwab is trying to get Fidelity to transfer back some of the spilt shares. I'm not sure how this kind of an error can occur. The split date was a Friday, the Schwab account posted spilt shares on Monday. The DTC transfer (including the split shares) occurred on Tuesday, and Fidelity posted additional split shares on Wednesday. Schwab sent me a note to deposit some shares on Thursday and when I checked my Schwab account on Friday I now have a short position in this company. This is in a IRA account so it made me laugh to see a short position.

I'm just letting Schwab and Fidelity handle it as it find the situation comical. So far it;s been two week and I still have a short position in my Schwab IRA.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News