Consumer complaint received 2018-01-09
Company: CHARLES SCHWAB CORPORATION, THE
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
I opened a Schwab High Yield Investor Checking account after I opened a Schwab One brokerage account this past summer. I knew I would be away on an extensive overseas tour and I thought that Schwab 's offer to repay ATM fees would come in handy. While I was in XXXX I tried to access my account to make withdrawals but my balance showed {$0.00}. This happened in three countries. Finally on XXXX day I was able to find some good wifi to use to call Schwab from my XXXX phone account. The representative I spoke to told me that my account was closed based on a business decision and there is nothing she can do. She said there is not much more she can tell me unless I want to to call a specialist. She asked me I want to speak to someone else who can corroborate what she said. I agreed and she put me on hold. I spoke to a gentleman who told me the same thing the first agent told me. I was told a letter was sent to me on XXXX XXXX, XXXX. This happened to be the same day I left for my tour. I put enough money in my account so that I would be able to pay in local currency for some of the events I was interested in attending. Needless to say without access to my money a good part of my vacation was ruined. 

Now that I am back home I checked and found two letters from Charles Schwab in my mailbox. One mentions that base on the information from XXXX they decided to close my account. How can that be? I was the one who called Charles Schwab to ask for my ATM card after I had submitted my application and did not see it in the mail. I was told there is a freeze on my credit report and I need to have it lifted so they can view it. Some years ago I placed a freeze on my credit report because I was a victim of identity theft more than once. I contacted XXXX and they sent me a code to pass on to Charles Schwab to view my credit report. Not long after Charles Schwab approved my application and sent me my ATM card. So the letter dated XXXX XXXX, XXXX that I only read today ( XXXX XXXX ) being that I was away for an extensive period of time comes as a shock. If Charles Schwab had a problem with my credit report then why did they go ahead to issue me my ATM card after they used the unlock code XXXX provided me to give to them? Charles Schwab 's explanation is bizarre. As I stated they only gave me my debit card after I called to inquire and was told they need to view my credit report. As far as I 'm concerned they only provided the debit card after a careful analysis of my credit report. The fact is they closed my account for no justifiable reason when I needed to access it at the utmost time. Their action adversely affected my vacation and for that they should be held accountable. 

One of the letters went on to say that if I find the information in the report to be inaccurate I have the right to dispute the matter. Charles Schwab failed to list the information the led them to close my account. How am I supposed to contact XXXX  about information I need to dispute without knowing what the information is?

Company response to consumer: Closed with explanation