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Appreciation post: Charles Schwab's customer service saved me $800 last month
Everyone on here seems to love Robinhood or Webull for their slick apps and free trades. But I had a problem with a dividend payment back in March where I was shorted about $800 after a stock split. I called Charles Schwab and got a real person on the phone in under 5 minutes, not a chatbot. They fixed the whole thing in one call and even credited me the lost interest. Has anyone else had a big broker like Schwab actually come through when things went sideways?
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victor_butler5014h ago
Start with the free trades and slick apps. Sure Schwab fixed a problem but you're paying for that service somewhere. Their expense ratios are higher than Vanguard or Fidelity on most funds and they're still making bank on cash sweep programs. No free lunch man.
That dividend issue probably should have been caught before it became an $800 screw up. A good broker doesn't let errors happen in the first place. Robinhood might have bugs but at least they're not charging you hidden fees while pretending to be the good guy.
Bottom line is you got made whole on something that shouldn't have happened. That's like praising a plumber for fixing a leak they caused. Schwab has billions in assets they can afford to throw a few hundred bucks your way when they mess up.
If you're really worried about customer service just use a local credit union for the stuff that matters and keep the rest in index funds. Why pay for a middleman at all?
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