I have had 4 checks refused by Schwab because they are "lacking wet signatures". This has never happened before. I spoke with Quicken support and they were rude and unhelpful as this is "not their problem" because they are doing everything right (Intuit) and Schwab is "supposed to" honor the agreement. I pay for this service through Quicken so I found this unacceptable. The only remedy they gave me after insisting multiple times was to post something here which I decided to do to help others.
I contacted Schwab and got the following response:
Per the Schwab Bank Team Manager, the client may not continue using an external bill payment platform such as Intuit when the process does not allow the client’s wet signature to appear on the check. This presents a compliance and fraud-risk concern, which is why the most recent check was declined following manual review.
While prior checks may have been processed through automated review and subsequently paid, Schwab cannot guarantee future approval of checks issued through Intuit Bill Pay or similar services that do not meet the wet-signature requirement. As a result, any checks currently in process through the same platform may also be declined.
Please advise the client to discontinue using the external bill payment service and instead utilize Schwab Bill Pay, physical checks, or ACH transfers for future payments. These methods align with Schwab’s processing requirements and will help avoid potential payment disruptions.”
