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The Blog

August 20, 2020

How New Digital Tools at Schwab Benefit You

by Sanda Ljubovic

With technology continuing to advance, there are always new ways to eliminate paper and use new and improved digital tools to make it more convenient for you to manage your accounts online. We covered a few of these options in our post, Digital Tools for your Accounts with Charles Schwab. In this article, we will look at a few more Charles Schwab digital tools, and how these options can benefit you.

Digital Tools for fiinancial planning

Schwab mobile app

You can download the Schwab Mobile app either through the Apple Store, or Google Play. Once you install the app, log in with your Schwab Alliance credentials. This is the best way to stay up to date on your investments. One of my favorite features is the mobile check deposit. Instead of having to drive to the nearest Schwab office, you simply take a photo of the front and back of the check and submit. With just a few clicks, the deposit is in your account. In this time of social distancing and Stay at Home orders, it is nice to have the option to take care of your banking from home.

Move money features

Schwab lets you quickly and securely approve wire transfers online, or with your mobile phone – anytime and anywhere. Your funds will get to you much faster if we do not have to depend on signed paperwork. Please be aware that there are still additional security measures in place. We will still want to talk to you in person, or on the phone to ensure it is you asking for a wire. If we cannot confirm wire details with you personally, we will not initiate the wire on our end. Our main obligation is always to protect your assets!

When you want to transfer funds from your account to a domestic account, please let us know so we can initiate the process. We will set it up for you to approve online or with your mobile phone. You will receive an email and a mobile alert, informing you that your request is ready for authorization. In three easy steps you can approve it.

• Step one is verification. You log in on your phone via the app, or schwab.com. To keep it secure, Schwab will send a single-use code to your phone.
• Step two is consent.
• Step three is confirmation. You will need to review the details of the transaction, and then tap “Submit” to authorize your wire request.

We can also help you journal cash and/or securities between accounts with the same account holders. This process is very similar to that of electronic approval for wires. We would initiate the journal; you would get an email with instructions on how to authorize it.

Additional Schwab enhancements

We can now change your address without any paper required. We simply initiate the request on our end, and the system sends the request to you for online approval via schwab.com, or on your mobile device.

All the features mentioned here were created to make it easy for you to manage your Schwab accounts. If you are interested in any of these new options, we are happy to help you to set them up. We encourage you to start using all or some of the digital tools Schwab has to offer.

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