Stocks & InvestmentsAug 1, 2023
Googleirh007
Charles Schwab: why only $100k transfer a day?
Say one sells $2M stock. It looks to take 20 days (a month) to transfer the liquidated stock value to your bank, since per day cap is only $100k. Any tips to expedite money transfer from Charles Schwab?
Make sure to keep money for capital gains taxes for that $2M
It’s not exactly 2M, but majority in GOOG that didn’t grow as high as AAPL or MSFT. Still regret not joining Apple for marginal lower comp, but with 4-5x growth lost likely 600k+.
You can transfer same day or move assets in a few. Ask your representative and make sure all fees are waived.
Wire
Do the wire transfer over the phone. The limits are for the online portal. Never had a problem moving high six figure amounts over the phone with Schwab.
Thanks for the suggestion. Do you recall the fee for larger transfer than the cap? I am still selling GOOG, so would you suggest to transfer after done with all sales to optimize the charge?
Zero