andriana said:give feedbacks on the account! tempting to open one. if any fee occur please do tell thank you

Excellent so far. No fees. Used Chase ATM (charged me $1.50 fee) which was credited back at end of month. Other good thing is if you mail out a check via Schwab BillPay, the money won't be debited until they cash it. The check generated actually has your account number so it's just like a check written by you (unlike ING's system). My only gripe is ACHing via Schwab Brokerage account which is amounts to 5 extra clicks a month for me to transfer money (as my previous posts)

So last week I opened my Brokerage One account and the Investor checking. They finally set it up for me.

Now for the experienced:

1.) If I put money into my brokerage One account, will the money automatically get transferred into the Investor checking for interest earning purpose?

2.) If my money is sitting in the investor checking and I bought some stocks, will the money get transferred automatically back to Brokerage One and pay for my purchase?

I know that when the money is sitting in the Brokerage One account and a check comes through, it will first pull the money from Investor checking and if there's not enough, it will pull the money from Brokerage One.

I thought they automatically swap between accounts, am I wrong?

Thanks.

Ivanist said:So last week I opened my Brokerage One account and the Investor checking. They finally set it up for me.

Now for the experienced:

1.) If I put money into my brokerage One account, will the money automatically get transferred into the Investor checking for interest earning purpose?

2.) If my money is sitting in the investor checking and I bought some stocks, will the money get transferred automatically back to Brokerage One and pay for my purchase?

I know that when the money is sitting in the Brokerage One account and a check comes through, it will first pull the money from Investor checking and if there's not enough, it will pull the money from Brokerage One.

I thought they automatically swap between accounts, am I wrong?

Thanks.

1) No. Money going into brokerage (like via MoneyLink) will be held 3 business before you can move it over manually to checking account. There is a small amount of interest earned though while the money is sitting there for 3 days.

2) Not sure never tried it...

From Schwab.com
"A 3 business day hold is placed on funds coming in via Schwab brokerage MoneyLink® . You will earn interest and be able to trade most stocks and mutual funds as soon as the money is deposited. Until the hold time has elapsed, you may not withdraw the funds or use incoming MoneyLink® funds to trade securities requiring cleared funds up front, such as options or penny stocks."

Hey guys,
I'm about to submit this app, I just wonder if there is a chance I could be denied. Do you have to have strong credit to get this to go through? I have just been employed for one year, I do have two credit cards, one with a $3500 limit and the other with a $4000 limit. I have never been late paying for these or for any utilities. Will I be good to go? Thanks a lot.

swiharta said:Hey guys,
I'm about to submit this app, I just wonder if there is a chance I could be denied. Do you have to have strong credit to get this to go through? I have just been employed for one year, I do have two credit cards, one with a $3500 limit and the other with a $4000 limit. I have never been late paying for these or for any utilities. Will I be good to go? Thanks a lot.

I am a recent college graduate and I opened a Schwab account last week with no problem. I think you should be good to go.

For Interest Checking, Regular Checking, and Basic Checking up to first 6 transactions not to exceed $9.00 per statement period? where do we get voided checks from bofa? are we suppose to sign the schwab bank investor checking signature card?

Really happy with this account. Got Schwab primarily for the superb ATM refund service, as most of the lunch shops around my work only take cash and I am constantly using random ATMs. So far I am yet to find an ATM whose fee is not refunded by Schwab. Only thing I wish is that MoneyLink transfers would go directly into checking instead of the S1 account, not a big deal though.

mpkb said:beerman2 said:Only thing I wish is that MoneyLink transfers would go directly into checking instead of the S1 account, not a big deal though.
So that means you have to login to schwab.com and constantly move the funds over to your checking account, right? If so, I fear that I would forget one time and end up overdrawn.

I belive they will move the money from S1 to your checking account if there's insufficient fund.

Ivanist said:I belive they will move the money from S1 to your checking account if there's insufficient fund.
That good. But I guess if you forget to move the money yourself it will earn near zero in the brokerage account instead of the 4.25% in the checking.

andriana said:sorry the question i asked earlier was kinda vague. After submitting your application and creating your account ID, what do we do next? how do we link accounts to transfer money. (newb) Assuming that you signed up for the Schwab One account with Investor Checking, the Schwab One brokerage account and the Investor Checking Account are automatically linked and both accounts can be accessed by logging into Schwab.com. Setting up external accounts requires you to enroll in Schwab's MoneyLink service and provide the routing and account numbers for the external bank account that you want to link.

MoneyLink can be set up by logging into Schwab.com, clicking on Brokerage Accounts > Transfers & Payments > Online Transfers (and MoneyLink).