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Schwab’s Enhanced Service Request had me at "Hello!"

By: Shayla Jackson


Schwab’s service requests have FINALLY made it to the dance floor, and I for one am super excited that “Baby just got out of her corner!”

We work with multiple custodians on an everyday basis - TD Ameritrade, Fidelity, SEI, to name a few - so we’ve been doing the Cha Cha with the online versions of service requests for years. And then there was Schwab... the equivalent of a person on the dance floor with 2 left feet! Schwab’s newly enhanced Service Request isn’t quite as sexy as Patrick Swayze on the dance floor, but to a Client Service person, it comes pretty dang close.

The "Request Topic and Sub-Topic" are really great organizational tools for follow up. When you’re processing multiple types of account maintenance requests on a daily basis, it’s a big help for example, to be able to specify the type of money movement you’re submitting, as your follow up with the client will be different for a check request than a follow up for a deposit or a wire.

Schwab Case ID – if you’ve already been speaking with a Schwab Representative and they’ve given you a Case ID, you can now add that to your service request and submit any supplemental documentation. This is a more efficient alternative to sitting on the phone, and having to reintroduce your case, each time with a different representative.

File Sizes for Attachment Submissions – Schwab increased their maximum file submission size from 6MB to 10MB. This may not sound like much, but when you’re flattening PDF’s, manipulating bad scans and faxes from clients, every megabyte counts. This increase is the difference between submitting forms via the service request, or by fax. Whenever possible, we like to submit a service request, because they’re easier to track. Currently, there isn’t a way to confirm Schwab registered a fax into their system without calling them.

Transaction ID – For years you’d submit a service request to Schwab and get a generic response saying they received your submission. There was no confirmation/transaction number given, like the EDS number at Fidelity, no email like TD Ameritrade’s message center, confirming receipt from the actual person working on your request. Just a generic email which I would call the verbal equivalent of saying, “yep”!!  And we were left hanging to assume that the “yep”, was in reference to the service request we just submitted. Thankfully, those days are O-V-E-R!

Status Tab – has been updated as well. Now, you can see on your main page, and under each account, all of the service requests listed with their corresponding tracking ID’s. Schwab even upped the ante, and included the original message you typed and attachments that accompanied the original submission. Of all the new enhancements, this one is by far my favorite!

Schwabers, don’t take my word for it. Start using the new Service Requests and tell me it doesn’t have you looking at your screen like Tom Cruise looks at Renee Zellwegger (cue the “You Complete Me" monologue)


Want to learn more? Check out this video of Schwab's new Service Guide!