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Will Schwab ever HP twice on EQ

elixerin
Established Contributor

Will Schwab ever HP twice on EQ

title. asking specifically for linked Brokerage and checking, i was HP'ed in January this year by them on EQ opening this same accounts but something happened when i was out of country and the accounts (unfortunately csr of no help either) were somehow closed. ofcourse HP stayed and im looking on circling back soon, any insight appreciated

 

thanks

Message 1 of 5
4 REPLIES 4
TheFIGuy
Established Contributor

Re: Will Schwab ever HP twice on EQ

I would assume they would HP EQ again to open another account as your profile could have changed. I have read customers who have a Brokerage One account get HP on EQ when attempting to open the Brokerage & Investor Checking Account combo. This would result in two brokerage accounts but one of those would be directly linked to the investor checking. The Brokerage Account linked to the Investor Checking account does not have checking account features and needs to be linked to the Investor Checking.

 

  • Schwab Brokerage One Account - Legacy Brokerage Account and has the ability to have checking built into account with a debit card and semi-bill pay. Billpay has a different login then your main login for the Schwab Brokerage Account.
  • Brokerage + Investor Checking - Brokerage account cannot have a debit card, bill pay, or debits from the account. You must transfer funds to the Investor checking account to debit any money from the account to a merchant for example. You can push money into both accounts with no problem.

 I would also like to remind you they pull CHEX and are INQ sensitive.

 

Currently, due to COVID-19, it's taking Schwab Account Verification 3-5+ Business days to process most new applications. I just went through all this information for my GF.

 

Maybe look deeper into why they closed your Brokerage + Investor Checking Combo first. No need to take another HP on EQ for them to close the account again. Ask to speak to a supervisor/manager and see if they can help light the tunnel.

 

Hopefully, that helps!

Message 2 of 5
elixerin
Established Contributor

Re: Will Schwab ever HP twice on EQ

thank you so much for your reply @TheFIGuy,

 

i totally understand the your profile has changed since last hp thing 100%, i was wondering if it was more like one of those Cell Phone providor hard pulls where they only happen the first go around (was the case for me with Verizon), so this got me curious. You're right i think i opened the schwab brokerage linked to checking one.. whatever is eligible for the schwab card i went for i think, will probably just eat the inquiry at the end of this month :/ have yet to call CS and see thoroughly what's happening under due to the covid thing and wait times probably being astro. 

Message 3 of 5
TheFIGuy
Established Contributor

Re: Will Schwab ever HP twice on EQ

Maybe someone else can comment who has opened another Brokerage + Investor Checking account after opening their original account with CS. I think that a particular person is few and far wide between IMHO. I would expect the HP on EQ and CHEX and if they don't come CONGRATS!

 

From my experience with CS phone support wait, times have not been too bad. Yes longer than typically but nothing over 5-10min to speak to a representative. Now getting to a supervisor/manager might take longer as there are usually fewer of those people working.

 

My only personal problem is I live on the West Coast and CS/NYSE is EST so I usually am completing transactions/trades at that last min. I actually set up a calendar alert now so I can remember the NYSE is closing on PST.

 

Good luck!!

Message 4 of 5
inlvnv
New Member

Re: Will Schwab ever HP twice on EQ

I opened second brokerage + checking accounts a year after opening the first accounts.  They HPed each time from EQ.

Message 5 of 5
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