Author Topic: Funding a new account in Schwab office via cashier check?  (Read 369 times)

Aggie1999

  • Bristles
  • ***
  • Posts: 252
Funding a new account in Schwab office via cashier check?
« on: July 12, 2017, 03:17:40 PM »
Today I opened up a Schwab individual brokerage account online. Tomorrow I have a CD maturing at a normal bank that I will withdraw as a cashier's check. I plan to take the the cashier's check to my local Schwab office to fund the account I opened today. Anything special I need to know when doing this? According to the Schwab phone rep a cashier's check will not be a problem.

I know this is probably a pretty basic/dumb question but just trying to cover all my basis. Up until this point all I have dealt with is Vanguard.

PizzaSteve

  • Pencil Stache
  • ****
  • Posts: 547
Re: Funding a new account in Schwab office via cashier check?
« Reply #1 on: July 12, 2017, 03:52:51 PM »
Ive done this.  Perhaps bring ID?
All posts are opinions of the author subject to independent verification by the reader.  No representations of fact are asserted regarding commercial products or services.

Pizzasteve is planning to mostly be inactive and avoid debates.  In the event of a rare post, no need to reply or quote if you expect a response, as i am posting information an opinion meant to stand on its own.

acanthurus

  • Stubble
  • **
  • Posts: 122
Re: Funding a new account in Schwab office via cashier check?
« Reply #2 on: July 14, 2017, 04:46:24 PM »
That'll be fine. When I cashed out some EE bonds at my local bank and wanted to move it to Schwab they gave me the same advice re: bringing a cashier's check to their local office.

Aggie1999

  • Bristles
  • ***
  • Posts: 252
Re: Funding a new account in Schwab office via cashier check?
« Reply #3 on: July 14, 2017, 04:51:38 PM »
Yep, went fine. Being the first time dealing with Schwab and also first time handing someone a cashier's check other than a bank I wasn't sure if there was anything out of the ordinary to look for. There wasn't. Money was available one day later and has been invested fully in index funds. Thanks for the responses.