Re:Schwab Removes U.S. Stock, ETF and Options Commissions
by manigandham on Thursday October 03, 2019 @05:07AM
(#21145006)
Wire transfers in the US are expensive for most checking accounts. In the $20-40 range per payment. Also people don't usually carry around their account numbers for receiving payments.
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Re:Schwab Removes U.S. Stock, ETF and Options Commissions
by Gwypaas on Thursday October 03, 2019 @07:43AM
(#21145858)
In my bank app both my account number used for national transfers and IBAN used for international is shown under account details with a copy button.
Then again, we also have an app (Swish) similar to venmo allowing you to instantly for free send money to a phone number.
Re:Schwab Removes U.S. Stock, ETF and Options Commissions
by JumpCrisscross on Thursday October 03, 2019 @09:04AM
(#21146465)
> * Wire transfers in the US are expensive for most checking accounts*
They’re free to and from Fidelity accounts. I’d guess the same for Schwab accounts.
Re:Schwab Removes U.S. Stock, ETF and Options Commissions
by brewdad on Thursday October 03, 2019 @10:02AM
(#21147017)
Are you talking wire transfers or ACH payments? ACH is typically a much slower method of transferring money (1-5 business days) though it is generally free to do so. ACH also carries all of the risks associated with checks save the risk of losing a piece of paper before you can deposit it.
Wire transfers can happen almost immediately but typically cost $20-40 for one, or sometimes both, parties involved.
Re:Schwab Removes U.S. Stock, ETF and Options Commissions
by JumpCrisscross on Thursday October 03, 2019 @10:56AM
(#21147743)
> Are you talking wire transfers or ACH payments?
Wire transfers [1]. (For most business accounts, wire transfers are also free.)
Re:Schwab Removes U.S. Stock, ETF and Options Commissions
by manigandham on Thursday October 03, 2019 @06:06PM
(#21152758)
Most banks allow you to transfer between accounts at the same bank for free, and faster than ACH transfers because they can settle it quickly when its internal.