Security Knowledge Center

Common questions

What is the Schwab Security Guarantee and what does it cover?

We want you to have the highest level of confidence when you do business with Schwab, so we offer this simple guarantee: Schwab will cover losses in any of your Schwab accounts due to unauthorized activity. See details. Read the full terms of the Schwab Security Guarantee.

Is it safe to use public Wi-Fi connections, such as at an airport, restaurant, or hotel?

Avoid using public or "open" wireless networks, as many are not secure and your information could become vulnerable. Instead, consider an alternative such as a personal Wi-Fi hotspot to securely connect your laptop/tablet to your mobile phone’s cellular signal. Contact your cell phone carrier for information. If you do use a public Wi-Fi, avoid visiting sensitive sites or apps that may contain personal and/or financial information about you.

Are there any tools I can use to help me manage all the passwords for the sites I use?

Creating complex account-access credentials (passwords with different log in IDs) for each of your online accounts is an effective way to defend yourself from criminals attempting to gain access to your accounts. Password managers can help support this approach by using just one master password to access all of your individual account passwords. These tools can be downloaded onto your desktop or mobile device for creation and maintenance of strong passwords. They are designed to ensure your credentials are complex and randomized, along with keeping them encrypted. There are some variations with features and cost, so research providers and read reviews prior to selecting a password manager.

Do identity theft protection services add value in preventing identity theft and fraud?

Identity theft prevention services that provide credit and identity monitoring are one of the many tools available to you that can assist in safeguarding your identity. While these services cannot stop your information from being compromised or fraudsters from opening an account with your stolen identity, they can help monitor for identity theft and assist with the recovery process in the event theft occurs. There are many services available, so perform your due diligence, research providers, read reviews, and select the service that best meets your individual needs. Consider using these services in conjunction with other practices, such as freezing and regularly monitoring your credit. 

For more information on monitoring services, visit the FTC website.

How do I know if it is safe to give out personal information over the phone?

Schwab may call you to confirm certain money movements or other transactions. If so, Schwab will always attempt to authenticate your identity before discussing any account information. Schwab will not ask for your Schwab.com username, password or Visa^® debit card PIN over the phone. If you are ever concerned or suspicious about a call, call Schwab directly at 800-435-4000, log onto Schwab.com, or call the phone number on the back of your Visa^® debit card or credit card for bank inquiries.

How do I ensure texts, emails and calls are coming from Schwab?

Always use caution when acting on texts or emails from any institution. In addition, do not assume you are speaking with an institution based on caller ID. Text messages, emails, and phone calls can appear to come from Schwab or other institutions when they are indeed from a fraudster. Although Schwab does use these channels to communicate and verify account activity, Schwab will not ask you to disclose your Visa debit card PIN, personal information (via email), or your online password. If you do click on a hyperlink within an email or text, never enter your Schwab.com username and password, or upload personal documents, like a statement. If you are ever concerned about a text message, email or phone call, contact Schwab directly at 800-435-4000. Forward suspicious emails or screenshots of suspicious texts to phishing@schwab.com. For more insight, see our guide "Protect yourself from phishing".

What type of activity might I expect to see if I am a victim of identity theft?

Unauthorized activity can vary in type and frequency. Activity can take place immediately, months later, or may never occur. If you believe or know your information has been compromised, be on the lookout for activity including unusual or unauthorized withdrawals from accounts, bills from unfamiliar people or companies, loans in your name that you did not apply for, and/or tax returns filed in your name you did not authorize. If you suspect fraud or identify theft, see below for additional steps you can take to further protect your identity.   

What should I do if I am the victim of a data breach?

View our Identity Theft Checklist for safety precautions you can take if you are a victim. Consider additional measures such as setting up alerts with your financial institutions to notify you of any account activity and changes to your account.  

What are the most effective ways to securely transfer money?

When logging into financial accounts to transfer money, use two-step verification or other authentication methods. In addition, before transferring funds online, ensure the instructions and intended beneficiary are accurate. Confirm any instructions received via email by calling the financial institution or recipient. Criminals can compromise email addresses and insert fraudulent instructions within an email thread, a common tactic for real estate transactions. Lastly, be aware of scam tactics and educate yourself on known schemes. For more insight, see "Protect yourself from scams".