Schwab hold placed on electronic deposit every time

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beef.stu
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Schwab hold placed on electronic deposit every time

Postby beef.stu » Fri May 24, 2013 1:45 pm

I have had my account since the beginning of february and for each deposit I had made they have put a hold on my deposited funds for about 5-7 days which is very annoying.

I had always thought it was because each deposit was larger than the money I had in my account which makes sense, but just a couple of days ago I transfered a sizable amount of money from my linked wells fargo checking account into my schwab checking account and they once again put a hold on my money even though I have enough to cover the deposit 4 times over.

Has anyone else experienced this within the first few months of account opening?

(01/10) - Wells Fargo VISA Platinum
(05/10) - Techron Advantage
(10/12) - Amex BCE
(02/13) - Chase Freedom VISA
(09/13) - Discover It
(03/14) - Sallie Mae WMC
(09/15) - Citi Double Cash WEMC
(09/16) - US Bank Cash+ VISA Signature


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Victorleo
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Postby Victorleo » Fri May 24, 2013 3:11 pm

Schwab in my opinion has one of the best customer service/phone centers around. If you call them im sure they will remove any future holds for you. By the way how is the Japan dip affecting your portfolio. Im down 4K today. :(

nvtech
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Postby nvtech » Mon Jun 03, 2013 2:24 pm

Victorleo wrote:Schwab in my opinion has one of the best customer service/phone centers around. If you call them im sure they will remove any future holds for you. By the way how is the Japan dip affecting your portfolio. Im down 4K today. :(


I have been with Schwab early since 2010 and I am absolutely very happy with their customer service. No complaints ever.
In my experience for the mobile check deposit, I always had the funds the next business day.
If you try to deposit funds from your linked bank account, it would always take 3-4 business days. Its actually normal for everyone.

I would suggest you to try to write a check for yourself and deposit using your phone or tablet. The funds should be available the next day.



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