Complaint / review text:
I have been using Charles Schwab for about 20 years and never had any problems until today. I used my ATM card at an ATM that had previously been compromised, without knowing. Schwab put a hold on my debit card but never contact me. Apparently this is how they deal with compromised activity. Unless someone actually uses your card / account fraudulently they will not contact you in any way. This is actually their policy. So after checking my account online many times and not seeing any warning or anything, I try to use my debit card and discover the account is on hold (it was on hold for 2 weeks at this point). The representative I spoke to at first told me someone tried calling me and perhaps my cell phone didn't get the message - all false, no one called. Then I was told I need to wait for a new card to be mailed to and that my "voice is being heard". Well, since this is an "awesome" travel card, I would urge people to look at opening a different bank account, one who contacts their customers when they basically cancel their debit card. I couldn't imagine if I was on vacation or traveling and this happened. Any other bank contacts their customers when they touch their account.