Fraud Protection and Security Guarantee at Schwab

If your clients ever run into a situation involving potential fraud, Schwab has their back. They offer a Security Guarantee, which means Schwab will cover any losses in client accounts caused by unauthorized activity. You can read the full policy here.

Schwab also has a fraud prevention site with helpful tools and tips to keep accounts safe, plus step-by-step guidance if something suspicious comes up. More resources can be found here and here.

If a client believes there’s been attempted fraud, they should reach out to the Schwab Alliance team directly at 800-515-2157. The Alliance team can walk them through available options, including extra security features like voice verification. (Just a heads-up: for security reasons, clients need to make these requests themselves.)