Consumer complaint received 2023-11-10
Company: CHARLES SCHWAB CORPORATION, THE
State: CT
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Problem with a lender or other company charging your account
Sub-issue: Transaction was not authorized

Complaint:
Approximately 20 days ago, I received a call from a Charles Schwab employee who informed me that my account details had been compromised, and someone from Florida had unauthorized access to my user ID and password. I work as a resident physician and I was in the ICU taking care of patients, So I asked the Charles Schwab employee to lock my account and requested a call back in the evening for guidance on changing my user ID and password. Unfortunately, I did not receive the promised call that evening.

The following day, the same employee contacted me from his personal number and sent me a few one-time passwords ( through the official Charles Schwab number ) to change my user ID. We successfully changed it. However, ten days later, on XX/XX/XXXX, I noticed a {$2.00} charge on my debit card with no accompanying notification. Another incident occurred on XX/XX/XXXX, where {$57.00} was charged by XXXX for a XXXX order placed by someone in XXXX XXXX. Surprisingly, I received no alerts from my bank about these transactions. It wasn't until XX/XX/XXXX, when a {$60.00} charge for an order from XXXX triggered a notification from XXXX, that I discovered the series of fraudulent transactions. 

Immediately, I called XXXX, questioning why I hadn't received notifications for the earlier transactions. They had no answers. XXXX promptly blocked my debit card and offered to issue a new one, which I declined, expressing my intention to sever ties with XXXX. I also requested them to block my online access, having already changed my account user ID. 

On XX/XX/XXXX, when my biweekly paycheck arrived, I asked XXXX to unlock my account so I could transfer funds to my XXXX account for rent payment. Before unlocking, I conducted a comprehensive system scan with my XXXX XXXX to ensure no security threats. After changing my password, XXXX granted access. Unfortunately, within XXXX minutes of unlocking, all my funds were transferred to an unknown XXXX account through nine different transactions, totaling {$2500.00}. Astonishingly, I only received a notification from XXXX about the ninth transaction, indicating a {$150.00} transfer. 

Frantically, I contacted XXXX again, informing them of the {$150.00} and only later discovering the {$2500.00} theft. When I questioned XXXX about the lack of timely transaction notifications, they had no satisfactory answers. Their response was that the investigator team had been notified, and a resolution could take up to 90 days. 

As a resident physician living paycheck to paycheck, I emphasized the urgency of my situation, especially with rent due on XX/XX/XXXX. However, XXXX 's response was disheartening, stating they had no control over the investigator team 's timeline. Managing my bills with a {$2500.00} loss on a $ XXXX  monthly income has become an immense challenge. I dont know how are they expecting me to manage my bills.

Company response to consumer: Closed with explanation