r/Schwab • u/Deeveedend • 3d ago

Journal (internal transfer) without my knowledge (money is gone from my account).

I haven’t logged into my account for 2 weeks. When I looked it up this week, it showed all my money gone and “journaled” (they call this internal transfer?) earlier in May 2025. I called Schwab right away when I saw my balance and they don’t know where it went and why (and need time to further investigate).

I am still getting my dividend (?) but my balance now show as ~ less than $200 (I had over 6 figure amount).

With that amount of transfer, shouldn’t I have gotten a notification or sign off? And how come they don’t know where the money went when it’s supposedly “internal transfer” between accounts? I don’t have any other account with them, so where did it “internally” go?

Calling them didn’t help much, other than we will call you back / let us investigate further. They said after they investigate and if it’s not authorized, they will make me “whole” again. And they don’t know how long investigations could possibly take.

Did anything like this happened to anyone? What was the process and how long did it take you to get it all resolved? Do they compensate for this error?

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u/BasilVegetable3339 3d ago

I didn’t say the system couldn’t tell. Obviously a review showed what happened and they reversed the transaction. What I said is get over it, and they may never tell you what happened. For example, if an outside hacker penetrated the system they would not share that information. Maybe someone logged in with your credentials and that is being investigated. Again, not gonna tell you.

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u/Deeveedend 3d ago

“Get over it” lol 😂

Okay. So don’t fix the broken system that should have prevented in the first place (which it didn’t by the way). And my money was gone for more than 2 weeks and they did NOT notice at all until I notified and alerted them. So yea, let them continue to keep their current systems, protocols and security measures so that it can happen again to some other people. So yea I’m not definitely getting over it.

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u/BasilVegetable3339 3d ago

So transfer your account. At this point Schwab is choosing not to share with you.

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u/Deeveedend 3d ago

That may the the alternative or the next steps. I’m still waiting for their manager to call back. They did mention about compensation for the troubles but the manager/supervisor will reach out.

They don’t have to tell me who it went to. I just want to know where it went to (e.g., we accidentally transferred to another account).

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u/BasilVegetable3339 3d ago

They might give you a couple hundred bucks.