E.Schwab problems Message Board

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Non-Tech : E.Schwab problems

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To: Tech Investor who wrote (118)	3/16/1998 11:41:00 AM
From: pae	Read Replies (1) of 1401

Anybody else had this? Schwab lost the microfilm image of my original account app with basic schwab prior to my xfer to e.Schwab. So they wanted me to re-apply. Sound reasonable so far? But how did they notify me of this? Did they call? No. Did they mail or email me? No. They HELD the account! Which I found out at 9:25 thursday morning as I prepared an order! Not when I logged in the account, only when I tried to confirm an order! I thought Dogbert's school of customer relations was a joke. I am no longer so sure. Schwab seems to want to maximize how much they piss you off. In Schwab's defense, the person I was routed to actually said the right things and was appropriately apologetic and handled it well (did not get defensive when no defense would hold water) when I ridiculed his firm's approach. It was, however, a poor substitute for doing it right in the first place. Apparently it is time to move more money away from Schwab. Brown & Co's prices just got better.... P.S. Tech Investor, I transferred many securities from Schwab to Datek in 3 days using a DTC Transfer without closing the equity positions. Datek used to have instructions for DTC on their site, no idea if they are still there. Basically fax Schwab's FUNDS-OUT department with instructions to transfer specific stocks to Datek. Include Datek's broker# both your account#s and your signature on the fax. If Schwab is missing something, expect them to delay days before they call you. You will first notice the securities disappear from your Schwab account and then 3 days later you will start getting emails from Datek: "a security has been deposited in your account..." Vote with your feet!

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