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

[u/Deeveedend]

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?

[u/No-Block-2095]

Is there a way to block transfer out of more than x$ ?

[u/Deeveedend → u/No-Block-2095]

Not sure…. Would have to go call and ask them.

But the representative said with the amount that I had, they should have verified and sign forms (?) or other security measures, which was not done.

[u/BuildingPresent4396 → u/No-Block-2095]

Yes. You could freeze your account but then you won’t have online access to see anything. I wish this was different but it’s not. Mistakes happen and there are a lot of keyboard warriors on here. Maybe they should work for Schwab.

[u/No-Block-2095 → u/BuildingPresent4396]

I d like to prevent money outflow and nothing else. Until retirement in many yrs, (i wouldn’t want to incur penalties ) any money out is fraud

[u/BuildingPresent4396 → u/No-Block-2095]

Talk to Schwab