Schwab Mobile

I’ve only recently gotten into investing over the past few years, and with Schwab it’s been incredible. I previously used Robinhood and I briefly switched to WeBull before deciding to invest at Schwab. And I must say, my experience with Schwab has been magnitudes better than with the previously stated platforms. Schwab’s 24 hour customer support make investing with them extremely comfortable, as help is always just a phone call away. Schwab does an excellent job at keeping investors informed by supplying them with daily market updates as well as in-depth reviews and analysis of the funds and securities that they offer. Additionally, the reviews and analysis provided come from a variety of different sources, the most popular being Morningstar. I have called customer support multiple times since opening my account and in my experience, response times have been incredibly fast, typically speaking to an agent within about a minute of calling the support number. Additionally, the support agents are both friendly and knowledgeable. Schwab’s user interfaces for their app and website are well organized and easy to use. However, compared to other more “modern” brokers, their UI is quite outdated and unattractive in my opinion. Their color scheme is bland and the entire website looks quite outdated and in need of revision. User interface aside, as a young investor who is new to the space, Schwab’s incredible service, plentiful investment features and high quality market data earns them a 5 star review.

It feels like Schwab goes out of their way to punish and hassle you for trying to withdraw funds. When I initially signed up I was bombarded with calls and emails about funding my account. It was a breeze linking my bank account and transferring money to my Schwab account. It was deducted and on my bank statement within an hour. When the time came to withdraw some funds all of a sudden the transfer was voided and my bank account was unlinked even though all cash was settled and available for withdrawal. When I went to re-link the SAME bank account I had prior I was booted and locked out of my account. I was given several different numbers to call and had to talk to multiple people, take a quiz to verify my identity and given a 1-2 week timeframe for my account to be unlocked. All for only a $300 withdrawal to a bank account that was already verified. They’ll take money with no questions but when you try to withdraw they place several purposely placed hoops with the intent to wear you down in hopes you get frustrated and give up and forget about the money. I understand the need for safety to avoid identity theft and other fraud but it’s interesting that I can transfer money in, trade but the moment I try to withdraw a small amount I’m required to jump through hoop after hoop. It’s all by design. You’re better off with Fidelity

I’ve been using this app for over a decade and have experienced all the versions of it since. I can say, hands down, this is highly functional, reliable, mobile banking app with all the stock trading power you could ask for in the palm of your hand. I can tell you Schwab has Leo their app competitive with all the mobile banking functionality you would expect any bank to offer, plus the added power and flexibility of stock trading that also keeps up with the best of the industry players. That being said, with all efforts for functional upkeep, it seems the user interface has taken a backseat as of late. Nowadays, the dark color-themed user interfaces are king on mobile Apps and most software in general, and they seemingly take advantage of high-contrast design with vibrant interactive dashboards. The Schwab app is uninspiring comprised of mostly white, light grey, or beige color schemes with a few static bar charts that look straight out of Windows 2000 - frozen in time. Overall, the user interface has really begun to look aged and frankly, more than a bit out of date. For such an amazingly powerful mobile banking app, the user interface (UI) just feels lacking and could benefit from a major visual overhaul - One that helps to better position Schwab as a leader of online mobile banking and information technology space. A banking app for the future.