Questions About Account Sync Brokers
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Questions About Account Sync Brokers Request details on ease of dealing w Schwab, Foliofn, Fidelity, Options Express, or TD Ameritrade? (Already have Scottrade and no checking account now. And I have Etrade through another club I am treasurer for but want to verify info on other AccountSync brokers before I recommend propose change to club brokerage. I am tired of Scottrade lack of check support. Not interested in having bank and broker. Want all in one solution.). Specifically 1) are checks and/or debit card available for investment club? 2) any issues of note for partners to establish AutoDebit or e check deposits? 3) any issues of note for treasurer access? 4) any issues of note re: withdrawal processes? 5) do you recommend? Charles Schwab E*Trade Foliofn Fidelity Investments Options Express Scottrade TDAmeritrade We use TDAmeritrade with no problems.We have checks but have not inquired about a debit card so no opinion except that I believe that they offered one to us. Everyone uses BIll Pay to deposit their dues. No problems with withdrawals though we have only transferred money to departing members with their own TDAmeritrade account. Yes, I would recommend them. John On Saturday, March 19, 2016 8:15 PM, Irina Clements <irina39@verizon.net> wrote: Request details on ease of dealing w Schwab, Foliofn, Fidelity, Options Express, or TD Ameritrade? (Already have Scottrade and no checking account now. And I have Etrade through another club I am treasurer for but want to verify info on other AccountSync brokers before I recommend propose change to club brokerage. I am tired of Scottrade lack of check support. Not interested in having bank and broker. Want all in one solution.). Specifically 1) are checks and/or debit card available for investment club? 2) any issues of note for partners to establish AutoDebit or e check deposits? 3) any issues of note for treasurer access? 4) any issues of note re: withdrawal processes? 5) do you recommend? Charles Schwab E*Trade Foliofn Fidelity Investments Options Express Scottrade TDAmeritrade One of my clubs uses Foliofn with Bivio. (I am the Treasurer.) We have had no problems to date. All club members use Bill Pay or its equivalent. I recommend it, especially since Window Trades are commission free. My other club uses TD Ameritrade with Bivio, but our Treasurer insists upon using paper checks. (He's a little paranoid about online transactions.) To my knowledge he hasn't had any problems with this combination either. I recommend it. Treasurer of two clubs using bivio.com. We still use paper checks because that is what the members are comfortable using. However, the checks are deposited at the beginning of the meeting using a smartphone and the TD Ameritrade app's deposit feature. What is deposited that day is used to purchase something new or additional shares of something old. Our cash balances are usually under $100. Joe Farrell > On Mar 19, 2016, at 11:30 PM, William C. Peterson <wmpeterson@cox.net> wrote I agree. We use TDA and they do provide debit cards and free checking. They also provided good support when we changed over to the Penny payment process in bivio. They accept all options for member direct payments-- personal checks, autopay, etc. The key obviously, is noting the TDA Account number on the payment. Monthly reports are comprehensive and timely. So was issuing of the 1099 Form for taxes. They charge ~$10 per transaction. I don't know how this compares to other brokers. The only minor negative is that they have a fairly involved process for changing account owners and check writers when our officers change, requiring detailed forms and signatures from old and new officers. I guess they are really concerned about security and access. However, I too would recommend. Denny McCarthy From: "rice j1969" <rice.j1969@att.net> To: "club cafe" <club_cafe@bivio.com> Sent: Saturday, March 19, 2016 11:53:37 PM Subject: Re: [club_cafe] Questions About Account Sync Brokers We use TDAmeritrade with no problems.We have checks but have not inquired about a debit card so no opinion except that I believe that they offered one to us. Everyone uses BIll Pay to deposit their dues. No problems with withdrawals though we have only transferred money to departing members with their own TDAmeritrade account. Yes, I would recommend them. John On Saturday, March 19, 2016 8:15 PM, Irina Clements <irina39@verizon.net> wrote: Request details on ease of dealing w Schwab, Foliofn, Fidelity, Options Express, or TD Ameritrade? (Already have Scottrade and no checking account now. And I have Etrade through another club I am treasurer for but want to verify info on other AccountSync brokers before I recommend propose change to club brokerage. I am tired of Scottrade lack of check support. Not interested in having bank and broker. Want all in one solution.). Specifically 1) are checks and/or debit card available for investment club? 2) any issues of note for partners to establish AutoDebit or e check deposits? 3) any issues of note for treasurer access? 4) any issues of note re: withdrawal processes? 5) do you recommend? E*Trade Foliofn Fidelity Investments Options Express Scottrade TDAmeritrade My club does not use the features mentioned, but we have been satisfied with Schwab. I understand from 2 Schwab sources that they do not accept new "companies" with less than $1 million of assets. On Sun, Mar 20, 2016 at 8:57 AM, <dennymccarthy@comcast.net> wrote:
We have used Schwab for years with no problems. They transfer the info to Bivio. We use the penny method and that has worked well having each member set up an autopay to our account. Transactions to buy and sell are $8.95. Sent from my iPhone
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