FlyerTalk Forums - View Single Post - Schwab Invest Visa? 2% cash back on everything? [Discontinued card]
Old Jun 19, 2009, 1:10 am
  #179  
southerndoc
 
Join Date: Aug 2007
Location: Atlanta/DC
Posts: 297
Originally Posted by dinosims
As of right now, for some reason Schwab bank uses Electronic Funds Transfer to transfer between banks, while Schwab Brokerage uses MoneyLink. They're not linked at all, and so even if one has a bank attached to it, the other one won't. I even called up and asked if they could just transfer the info over, and they said I'd need to fill out another form. IIRC, there's an online form you can fill out (with the test deposits and all) for MoneyLink though - just click on the "online" link next to MoneyLink, under Services, Forms. Also, as long as you initially funded your checking from your brokerage account, you can transfer between the 2 using MoneyLink. So, what I've been doing is using moneylink to transfer into the brokerage, and then moneylink to transfer from the brokerage to the checking. Another way obviously would be to push it from the external bank directly into the checking....or just give in and fill out the forms.
Schwab is in the process of allowing online EFT's to/from their checking and savings accounts.

You can already move money between your checking/savings accounts and your brokerage account online.
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