Charles Schwab
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You would think it is simple to create…
You would think it is simple to create an investor checking account with Charles Schwab. Well, it isn't. I called in advance to determine if I needed to take any action before applying and the banking division representative said I needed to unfreeze all three credit bureaus. I did that. However, the banking division kept saying they could not get my credit reports but I knew for a fact they were open. This went on for a few days. Finally, I spoke to someone in the verification department who said the banking division was wrong. It turns out that they really did not want credit bureau reports, what the really needed was ChexSystems reports. I was trying to fund my brokerage account by doing mobile deposits, and suddenly my mobile deposits were denied. The message on the phone app was that my account was no longer eligible for mobile deposits. I have never had any trouble opening accounts at any financial institution before and this has been nothing but frustration. My checking account is still not open and my brokerage appears to be unusable. Pathetic.
