Pardon this slightly off-topic post, but I just got a statement in the mail from Schwab today and wanted to post this story.
In 2012, I was using Schwab checking as my main account for depositing checks, since my current bank at the time (Citi) did not have mobile deposit yet and Schwab did, plus the high interest. I would deposit checks (mostly from rebates) and then transfer the money to Citi every month or so, and I wasn't using the brokerage account. One day I got a call from Schwab on my cell phone when I was at my doctor's office asking about deposits I was making. I told the person that they were all legal and didn't have time to talk, and I thought that was it. A few weeks (months?) later, I got Fedex overnight letters from Schwab saying that they were closing all of my accounts, as they had the right to do. I called and wasn't able to get any information as to the reason, just that the terms say they can close my accounts and they were choosing to do so. I was really upset at this not only because I liked their service, but because I had a second joint account with my son, who was away at college, and it was his primary source of cash (the account was useful for him because of the ATM rebate), and they closed it as well.
Anyway, they sent me a check for the balances (which as I recall took a couple of weeks) but somehow I ended up with a penny in one of the accounts due to late posting of interest. Every quarter for the past 4 (coming up on 5) years, I have gotten a statement with the penny balance. I get a good chuckle over how much Schwab has wasted mailing me statements, but given how pissed I was (and still am) over what they did to me, I have no interest in contacting them and asking them to stop. I just get a good chuckle over their waste of money and shred it.
Last edited by MisterBill
on Fri Jun 30, 2017 8:34 pm, edited 4 times in total.