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Charles Schwab Complaint - Charles Schwab Bank Closes Account Relationship for filing dispute

Review by chaznatlanta on 2009-11-16
LAS VEGAS, NEVADA -- Been with Schwab Bank for over 5 years. Noticed an unauthorized draft checks, not signed or authorized by me, electronic in nature presented by a fraudulent payday advance company (never heard of them)and paid. Filed fraud claim, turned into dispute by Schwab and money reversed. Received letter the next day that Schwab had closed my checking account without notice as a result of the incident. Checking balance was included. Cited that Schwab's Risk Department may a "business decision and that they do not have to give a reason past that... that it is in their account terms." No new account opened, no apology, did not care
Comments:1 Replies - Latest reply on 2009-11-16
Posted by jktshff1 on 2009-11-16:
If I had had an unauthorized payment taken out of my account, unknowingly, I would have closed it anyway.

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