Schwab Investment Account Cash Balances Are Off

Joseph Witkin

Cash balances in my Schwab brokerage and IRA accounts are continually off from the actual values shown on Schwab's website, by hundreds or even thousands of dollars - I keep having to enter cash balance corrections. It looks like dividend reinvestments are not being handled correctly - duplicates for "reinvested dividend" and "bought", both lowering the cash balance - at least I think that's where its coming from, but I'm not going through trying to figure out which transactions to delete until the problem is fixed!

Are others seeing this?

Tom Young

I'd suggest that you DO go back and straighten out your accounts.  No fix, if and when it comes, is going to go back in time and correct all the erroneous entries.  I generally counsel that you simply can't depend on "downloads" to do your accounting for you; this is especially true with the current Schwab problems.

The problem you describe is widely occurring and has been known about for some time.  As far as I know there's no ETA for the fix.