Originally Posted by
Happy
OTOH, I also find some of Schwab's account functions are not as convenient than Fido's. With Fido you can add bank accounts for money transfer purpose, do it online and once Fido verified the bank account, you receive confirmation both via email and letter. With Schwab, you have to download a form, one account per form, fill it out, attached a void check, and mail back in... quite antiquated. To make my experience worse, the online chat CSR emailed me PDF files of the WRONG FORM which looks are for Banking Account (link outside banks with Schwab Bank), NOT the form for Brokerage account... Good thing I went back online to check further, because on the Form the CSR emailed, there is No Return Address for the form - but instruct you to call for mail in address! This process alone is enough to put me off from transferring more assets to Schwab.
Though indeed Schwab has a good interest paying checking account product.
You only need to setup the first transfer account by mail. I was able to add any subsequent accounts online and then the verification process was actually quicker than Fidelity's because they use trial deposits which take 1-2 days instead of Fidelity's 5 business days.