Charles Schwab Site Crashed and Investors Were Not Happy

Charles Schwab, the online trading broker, went offline for several hours today, June 11. Users reported issues beginning at 8 a.m. ET, according to downdetector.com. The site shows that reports peaked at 9:44 a.m. with more than 5,800, but they’ve since tapered out.

During the outage, users could not access their Charles Schwab accounts, both on their mobile apps and online. 

As anyone who invests regularly knows, a few hours can make all the difference between making money and losing it. The outage also affected banking customers and former TD Ameritrade customers. Luckily, the investing platform offered a solution.

What to do if you still can’t log in

If you’re still having trouble logging into your Schwab account, try disabling your biometric login and manually entering your login ID and password.

If that doesn’t work, you can try disabling and reauthenticating your biometric login. As a last resort, you can try uninstalling and reinstalling the mobile app.

What was the issue?

A glitch in Schwab’s login process caused users’ biometric login information — their stored face or fingerprint — to no longer work. 

The company took to X, formerly Twitter, with an apparent fix — disable the biometric login and manually input your credentials. If you have your password and username saved, be sure to clear them and type them in yourself.

However, some Twitter users commented that this hadn’t fixed their issue, but reports of an outage dropped to less than 300 at 5 pm ET, according to downdetector.com. Charles Schwab posted a follow-up at 5:29 pm ET stating the log in issue had been resolved.