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True - but you can't sign up for a checking Aaccount only. They require you have a brokerage account through Schwab as well.
by jroblak 14y ago
True - but you can't sign up for a checking Aaccount only. They require you have a brokerage account through Schwab as well.
- stevenbedrick 14y agoYes, but they don't require you to do anything with it- IIRC you don't have to fund it, and you certainly don't have to use it or maintain any kind of balance in it.
- maxerickson 14y agoI'm in the process of bank shopping, so I looked into it just now. If you set up automatic deposits into a checking account, they waive the $1000 minimum for the brokerage account.
- stevenbedrick 14y agoOh, that must be new- when I signed up a couple of years ago there weren't any requirements like that. Thanks for looking into it. For whatever it's worth, it is a really, really, really great checking account. And their online and mobile tools have gotten pretty good in recent years. Not anywhere near the level of, say, BankSimple, but certainly more than usable.
- maxerickson 14y agoActually, it looks like the automatic deposits/$1000 minimum are for a investment account without the checking account.
- saryant 14y agoThere's no minimum on either account. I've got a whopping $187 in my Schwab checking account and nothing in the brokerage account.
- ConstantineXVI 14y agoThat's right, I set up my account with them with just $25 in the banking account. The rep I talked to when I signed up verified you aren't required to use the brokerage acct at all, it merely has to exist.