ladelfina
Thinks s/he gets paid by the post
- Joined
- Oct 18, 2005
- Messages
- 2,713
Maybe CFB has some tips here for how to deal with this.
The issue is charges for intl. wire transfers. For a while I had not been charged; then they started charging me $25 a pop. The past and current Pricing Guide says the same thing:
I'll try to make it brief: the first time I got hit, I wrote and complained and got this response (all edited to just include the salient parts):
then this response:
then me, after a second transfer that got dinged with a fee:
then him:
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I guess I just want to get a sense of whether I am becoming an unhinged crank or not. How do you guys read this?
I have had a good overall experience w/Schwab until now. What I, in fact, liked was the transparency and straightforwardness. I don't particularly want to have to (or even have to threaten to) go elsewhere as it would be a giant pain and likely not worth the $100-$200 yearly that they are going to dock me now for wire fees. BUT, as I suggested in my first letter regarding identical language in the '06 Pricing Guide, I feel they should either make the policy fit the language or make the language reflect the actual policy.
Any advice before I make this phone call? I don't have a lot of leverage in the relationship as I'm not an active trader and they don't make money off me in other ways like margin loans, banking, cc.s, etc.
The issue is charges for intl. wire transfers. For a while I had not been charged; then they started charging me $25 a pop. The past and current Pricing Guide says the same thing:
http://www.schwab.com/cms/P-1036363.7/July07_Pricing_Guide_REG23060-10.pdf?cmsid=P-1036363Wire transfer fee: With $100,000–$499,999 in Household Balances, you will receive three free online domestic wire transfers per quarter; with $500,000 or more in Household Balances, or 36 or more stock or option trades per year in Accounts of Your Household, you will receive three free wire transfers per quarter.
I'll try to make it brief: the first time I got hit, I wrote and complained and got this response (all edited to just include the salient parts):
(May 7) ... your inquiry regarding the wire fee was forwarded to my attention. I'm pleased to let you know the fee will be reversed with the next 24-48 hours. I've also taken steps to ensure that this doesn't reoccur in the future.
then this response:
(May 16) I want to take a moment to clarify Schwab's wire fee schedule .... When I went to review your account to prevent the wire fees from reoccurring I became aware your wire was an international bank wire. Schwab provides clients with three domestic bank wires per quarter at no cost. Schwab assesses a fee of $25 on all international wires. The fee waiver still stand but future international wires will carry the $25 fee.
then me, after a second transfer that got dinged with a fee:
In the case of a lower household balance, the word "domestic" is used; this is absent in the higher balance category. I can't imagine this is an oversight and would appreciate action or information from a supervisor if necessary, since the way I read this it is quite clear that no fees should be imposed whatsoever.
then him:
Please contact me at the number below and I will be happy to review this with you
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I guess I just want to get a sense of whether I am becoming an unhinged crank or not. How do you guys read this?
I have had a good overall experience w/Schwab until now. What I, in fact, liked was the transparency and straightforwardness. I don't particularly want to have to (or even have to threaten to) go elsewhere as it would be a giant pain and likely not worth the $100-$200 yearly that they are going to dock me now for wire fees. BUT, as I suggested in my first letter regarding identical language in the '06 Pricing Guide, I feel they should either make the policy fit the language or make the language reflect the actual policy.
Any advice before I make this phone call? I don't have a lot of leverage in the relationship as I'm not an active trader and they don't make money off me in other ways like margin loans, banking, cc.s, etc.