Consumer complaint received 2024-05-24 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: CHARLES SCHWAB CORPORATION, THE
State: NC

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX, NC XXXX XXXX XXXX XXXX Consumer Financial Protection Model Online complaint Subject : Urgent Complaint Regarding Unauthorized ACH Withdrawals from My Charles Schwab Interest-Bearing Checking Account Dear XXXX  Advisor, I am writing to file a formal complaint concerning unauthorized Automated Clearing House ( ACH ) withdrawals from my Charles Schwab interest-bearing checking account.

Upon reviewing my recent account statements, I discovered multiple unsubstantiated withdrawals that were made without my consent. Upon contacting Charles Schwab, I was informed that these transactions involved a company named Decent Holdings. However, it was further clarified that XXXX was identified as the client on behalf of Decent Holdings. 
This nightmare began in XX/XX/XXXX and is still not resolved as of XX/XX/XXXX. Rather than receiving all my money back from Charles Schwab, again without any correspondence, they removed all the money again! My CPA, XXXX XXXX, who is handling the books for Decent Holdings, contacted XXXX and informed them that he was only reconciling the charges, not drafting from my account. To date, no one from Charles Schwab nor XXXX has responded. This is theft, and no one at the bank is accounting for over $ XXXX missing and the untold stress this has put on me and my life. 
No one will even return promised calls, and this ongoing situation is severely affecting my financial stability and peace of mind. 
The details of my account and the unauthorized transactions are as follows : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Dates of Unauthorized Withdrawals : XX/XX/XXXX to XX/XX/XXXX Total Amount Withdrawn : Over $ XXXX Despite not authorizing any transactions with Decent Holdings or XXXX, these entities have initiated multiple withdrawals from my account. Consequently, I have blocked Decent Holdings from making further transactions. However, this incident has raised serious concerns regarding the security of my account and the oversight of ACH transactions. 
I am requesting your assistance to investigate this matter thoroughly and take appropriate actions against the parties involved in these unauthorized withdrawals. Specifically, I am seeking : 1. A complete investigation into the unauthorized ACH withdrawals.

2. Steps to prevent further unauthorized transactions from occurring.

3. Reimbursement of the unauthorized amounts withdrawn from my account.

4. Reimbursement for lost time and interest due to the unauthorized withdrawals. 
5. Strengthened regulations and oversight concerning ACH transactions to protect consumers.

Please find attached copies of my bank statements highlighting the unauthorized transactions and any correspondence with Charles Schwab regarding this issue.

I appreciate your prompt attention to this serious matter and look forward to your response. Should you require any further information or documentation, please do not hesitate to contact me at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 
Thank you for your cooperation and assistance. 
Sincerely, XXXX XXXX Attachments available : XXXX. Bank Statements Highlighting Unauthorized Transactions 2. Correspondence with Charles Schwab

Company response to consumer: Closed with explanation