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Cash Management

Member for

1 year 4 months
A104398
Submitted by Brian.Lavelle on Tue, 11/07/2017 - 11:39

Through Schwab, your clients have access to a wide spectrum of secure, competitive cash solutions to meet both their short- and long-term needs. Savings and investment cash products provide a range of competitive options that earn a higher yield, help your clients preserve principal, and provide easy access to their funds. Everyday cash products are ready for use to purchase investments such as stocks and bonds, and are also available for paying bills and expenses.

Products offered through a Schwab Brokerage Account

Savings and investment cash

Schwab Purchased Money Funds

  • Convenient access to higher yields on cash
  • Broad choice of prime, government, and municipal money funds
  • Investment minimums as low as $1*
  • No transaction fees**
  • Extensive credit research and professional money management
  • Cash is available next business day when shares are sold by 4 p.m. ET

Brokerage Products: Not FDIC-Insured • No Bank Guarantee • May Lose Value

*The Funds' Investor Shares have no initial investment minimum; however, Schwab systems require a minimum of $1 per trade.

**Fund expenses and other fees may apply.

Investors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges and expenses. You can obtain a prospectus, or if available, a summary prospectus by visiting schwabfunds.com. Please read it carefully before investing.

You could lose money by investing in a money market fund. Money market funds seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. For Schwab Variable Share Price Money Fund: Because the share price of the fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund, Schwab Government Money Market Portfolio, and Schwab Retirement Government Money Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in a money market fund is not insured or guaranteed by the FDIC or any other government agency. The money market fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time.

CDs from Schwab CD OneSource®

  • Protect principal and earn an attractive, fixed rate of return with CDs from Schwab CD OneSource®
  • One-stop marketplace for CDs
  • Fixed term—30 days or more
  • Easy online transactions in clients’ Schwab account or through an Advisor Bond Specialist

Everyday cash

Bank Sweep

  • The default sweep feature for the majority of domestic retirement and non-retirement accounts
  • Earns interest on uninvested cash in a brokerage account and is ready for purchasing investments
  • Cash in the Bank Sweep feature is available immediately for same-day transactions
  • FDIC-insured up to $250,000†

Schwab One Interest

  • Pays interest on uninvested cash in a brokerage account
  • Available to non-retirement accounts

In addition, any uninvested cash in a Schwab brokerage account can be accessed through attractive payment features, such as:

  • Unlimited ATM fee rebates3, no foreign transaction fees4
  • No account service fees
  • Free checks, online billpay

Products offered through Schwab Bank

Savings and investment cash

Schwab Bank High Yield Investor Savings®

  • Offers a competitive yield regardless of balance—and keeps liquid savings growing
  • No minimum balance or monthly account service fees
  • Same-day access to funds
  • FDIC-insured up to $250,000
  • Note: As with any savings account, clients are limited to six withdrawal transactions per month

Everyday cash

Schwab Bank High Yield Investor Checking®

  • Offers a competitive yield and easy transfers from checking to linked Schwab One brokerage accounts 2
  • Unlimited ATM fee rebates3 and no foreign transaction fees4
  • No monthly account service fees or minimums
  • Free standard checks, online and mobile bill pay5 and Mobile wallets such as Apple pay, Samsung Pay, Android Pay and Microsoft Wallet6
  • FDIC-insured up to $250,000

†Funds deposited at Charles Schwab Bank are insured, in aggregate, up to $250,000 based on account ownership type, by the Federal Deposit Insurance Corporation (FDIC).

1. Schwab will usually receive a placement fee from the issuing institution in connection with the purchase of a CD.

Certificates of Deposit available through Schwab CD OneSource typically offer a fixed rate of return, although some offer variable rates. They are FDIC insured up to $250,000 per depositor per institution, based on account ownership type and offered through Charles Schwab & Co., Inc. CDs from Schwab CD OneSource are issued by FDIC institutions, and are subject to change and system access. Unlike mutual funds, certificates of deposit offer a fixed rate of return and are FDIC-insured. Visit www.fdic.gov for details. There may be costs associated with early redemption and possible market value adjustment.

2. Schwab Bank High Yield Investor Checking accounts are available only as linked accounts with Schwab One® accounts. The Schwab One brokerage account has no minimum balance requirements, and there is no requirement to fund this account, when it is opened with a linked High Yield Investor Checking account.

3. Unlimited ATM fee rebates apply to cash withdrawals using either the Charles Schwab Bank or Schwab One Visa® Platinum Debit Card at ATM's where they are accepted. ATM fee rebates do not apply to any fees other than fees assessed for using an ATM to withdraw cash from your Charles Schwab Bank deposit account or the Charles Schwab & Co., Inc. Schwab One brokerage account. Charles Schwab Bank and Charles Schwab & Co., Inc. make their best efforts to identify those ATM fees eligible for rebate, based on information they receive from Visa and from ATM operators. In the event that you have not received a rebate for a fee that you believe is eligible, please call a Schwab Bank Client Service Specialist at 1-888-403-9000 or a Schwab One Client Service Specialist at 1-800-421-4488 for assistance. Charles Schwab Bank and Charles Schwab & Co., Inc. reserve the right to modify or discontinue this ATM fee rebate at any time.

4. If you use your card to withdraw foreign currency from an ATM or to pay for a purchase with foreign currency, we charge your account for the U.S. dollar equivalent of the transaction. Depending on the specific arrangements that are in place, the exchange rate and calculation of the U.S. dollar equivalent will be done by the bank at which you conduct the transaction, the network to which the ATM belongs, or Visa®. The bank or network may also charge a fee.

5. Requires a wireless signal or mobile connection.

6. Use of your card through a digital wallet is also subject to the terms and conditions of your Schwab Bank Deposit Account Agreement (which contains information on any potential liability for unauthorized transactions), your Visa Debit Card Agreement, the terms and conditions of the digital wallet you use, the privacy policy set forth at www.schwab.com and the privacy policy of the digital wallet you use.

Android, Android Pay, and the Android Logo are trademarks of Google Inc.

Apple, the Apple logo, iPhone, and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Pay, Touch ID, and Apple Watch are trademarks of Apple Inc.

Samsung, Samsung Pay, Samsung Gear, Galaxy S and Gear S (and other device names) are trademarks or registered trademarks of Samsung Electronics Co., Ltd. Use only in accordance with law. Other company and product names mentioned may be trademarks of their respective owners. Samsung Pay is available on select Samsung devices.

Microsoft and Microsoft Wallet are trademarks of Microsoft Corporation

Charles Schwab Bank and Charles Schwab & Co., Inc. are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Schwab Institutional is a division of Charles Schwab & Co., Inc. Brokerage products are offered by Charles Schwab & Co., Inc., Member SIPC. Deposit and lending products are offered and provided by Charles Schwab Bank, member FDIC and an Equal Housing Lender. Charles Schwab Bank is not acting or registered as a securities broker-dealer or investment advisor.

Charles Schwab Investment Management, Inc. (CSIM), the investment advisor for Schwab Funds, and Charles Schwab & Co., Inc. (Schwab), Member SIPC, the distributor for Schwab Funds, are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation.
 
Next-business-day access to purchased money market funds is available if shares are sold by 4 p.m. ET.

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