Club Member Funds: Checks to a Bank vs. Direct Deposit to Brokerage Account?
Each member has a cents amount assigned to them.
The deposit amount is then $xx.xx.
The treasurer knows which member is assigned which.xx cents; problem solved.
On Jun 22, 2023, at 8:42 AM, Dan Cohn via bivio.com <user*32501700001@bivio.com> wrote:Been with Bivio and Schwab for over 10 yrs. I physically deposit members checks at Schwab. Then Bivio asks me to assign the specific amounts to the respective members. I keep a copy of the checks.How does the individual member, who directly deposited the check get credited from Schwab on the Bivio account?Sent from my iPhoneOn Jun 22, 2023, at 2:14 AM, Rebecca Reeves via bivio.com <user*34255900001@bivio.com> wrote:I'm treasurer of two clubs. Each of them has been in operation for over 30 years and brokers have changed over the years. Both clubs have accounts with local banks where checks are deposited after monthly meeting. One club has a PayPal account that members can send deposits to which can then be transferred directly into the club account. It's not that big a deal to make a monthly bank deposit. Funds can be directly sent to TD Ameritrade from the bank or a check can be mailed. This has worked for years. Some cash remains in the bank account for expenditures. Funds can be directly sent from broker to withdrawing members or a check from the back can be sent. It's very easy to transfer funds from TD Ameritrade to a bank account. I'm hoping this will continue with Schwab.Sent from my iPhoneOn Jun 22, 2023, at 12:33 AM, Linda Glein via bivio.com <user*21345500001@bivio.com> wrote:Most of our partners use either ACH or bill pay to deposit directly into the brokerage account (TDA). The three who do not give me checks and I can quickly do a mobile deposit. Sometimes I do it during the meeting, other times the following day.. I keep a pdf of the TDA deposit form that I can print out and use to mail in a check if necessary. We do not have a separate checking accountWe have very few expenses, and we either request a check from TDA (a bit of a hassle, but it is rare). We're more likely to have an individual pay and reimburse with units. Again, rare. Bivio annual subscription, postage, that sort of thing.LindaHello Fellow Investment Clubs,I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.Can you please share what your club is doing that works well?Thank you.Kay Branz, PresidentLakshmi Investors
You asked, "How does the individual member, who directly deposited the check get credited from Schwab on the Bivio account?"
AccountSyc. Just like the dividends. Super easy.
Linda
Been with Bivio and Schwab for over 10 yrs. I physically deposit members checks at Schwab. Then Bivio asks me to assign the specific amounts to the respective members. I keep a copy of the checks.How does the individual member, who directly deposited the check get credited from Schwab on the Bivio account?Sent from my iPhoneOn Jun 22, 2023, at 2:14 AM, Rebecca Reeves via bivio.com <user*34255900001@bivio.com> wrote:I'm treasurer of two clubs. Each of them has been in operation for over 30 years and brokers have changed over the years. Both clubs have accounts with local banks where checks are deposited after monthly meeting. One club has a PayPal account that members can send deposits to which can then be transferred directly into the club account. It's not that big a deal to make a monthly bank deposit. Funds can be directly sent to TD Ameritrade from the bank or a check can be mailed. This has worked for years. Some cash remains in the bank account for expenditures. Funds can be directly sent from broker to withdrawing members or a check from the back can be sent. It's very easy to transfer funds from TD Ameritrade to a bank account. I'm hoping this will continue with Schwab.Sent from my iPhoneOn Jun 22, 2023, at 12:33 AM, Linda Glein via bivio.com <user*21345500001@bivio.com> wrote:Most of our partners use either ACH or bill pay to deposit directly into the brokerage account (TDA). The three who do not give me checks and I can quickly do a mobile deposit. Sometimes I do it during the meeting, other times the following day.. I keep a pdf of the TDA deposit form that I can print out and use to mail in a check if necessary. We do not have a separate checking accountWe have very few expenses, and we either request a check from TDA (a bit of a hassle, but it is rare). We're more likely to have an individual pay and reimburse with units. Again, rare. Bivio annual subscription, postage, that sort of thing.LindaHello Fellow Investment Clubs,I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.Can you please share what your club is doing that works well?Thank you.Kay Branz, PresidentLakshmi Investors
So if my cent assignment is .33 I write my check for $100.33 so that I know that's my check when it goes to Bivio.
Right?
Sent from my iPhone
On Jun 22, 2023, at 10:01 AM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
Each member has a cents amount assigned to them.The deposit amount is then $xx.xx.The treasurer knows which member is assigned which.xx cents; problem solved.On Jun 22, 2023, at 8:42 AM, Dan Cohn via bivio.com <user*32501700001@bivio.com> wrote:Been with Bivio and Schwab for over 10 yrs. I physically deposit members checks at Schwab. Then Bivio asks me to assign the specific amounts to the respective members. I keep a copy of the checks.How does the individual member, who directly deposited the check get credited from Schwab on the Bivio account?Sent from my iPhoneOn Jun 22, 2023, at 2:14 AM, Rebecca Reeves via bivio.com <user*34255900001@bivio.com> wrote:I'm treasurer of two clubs. Each of them has been in operation for over 30 years and brokers have changed over the years. Both clubs have accounts with local banks where checks are deposited after monthly meeting. One club has a PayPal account that members can send deposits to which can then be transferred directly into the club account. It's not that big a deal to make a monthly bank deposit. Funds can be directly sent to TD Ameritrade from the bank or a check can be mailed. This has worked for years. Some cash remains in the bank account for expenditures. Funds can be directly sent from broker to withdrawing members or a check from the back can be sent. It's very easy to transfer funds from TD Ameritrade to a bank account. I'm hoping this will continue with Schwab.Sent from my iPhoneOn Jun 22, 2023, at 12:33 AM, Linda Glein via bivio.com <user*21345500001@bivio.com> wrote:Most of our partners use either ACH or bill pay to deposit directly into the brokerage account (TDA). The three who do not give me checks and I can quickly do a mobile deposit. Sometimes I do it during the meeting, other times the following day.. I keep a pdf of the TDA deposit form that I can print out and use to mail in a check if necessary. We do not have a separate checking accountWe have very few expenses, and we either request a check from TDA (a bit of a hassle, but it is rare). We're more likely to have an individual pay and reimburse with units. Again, rare. Bivio annual subscription, postage, that sort of thing.LindaHello Fellow Investment Clubs,I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.Can you please share what your club is doing that works well?Thank you.Kay Branz, PresidentLakshmi Investors
Yes. Plus, I've found that the month end statement identifies the source, so you can double check.
We make ours
|
Joe |
50.00 |
|
Suzy |
50.02 |
|
Linda |
50.03 |
|
Bob |
50.06 |
Then, when it shows up in Bivio I get an email that says I have an unidentified transaction. When convenient, I click on the link and it takes me right to this screen:
I use the drop down arrow to assign the credit to "Joe".
Linda
So if my cent assignment is .33 I write my check for $100.33 so that I know that's my check when it goes to Bivio.Right?Sent from my iPhoneOn Jun 22, 2023, at 10:01 AM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:Each member has a cents amount assigned to them.The deposit amount is then $xx.xx.The treasurer knows which member is assigned which.xx cents; problem solved.On Jun 22, 2023, at 8:42 AM, Dan Cohn via bivio.com <user*32501700001@bivio.com> wrote:Been with Bivio and Schwab for over 10 yrs. I physically deposit members checks at Schwab. Then Bivio asks me to assign the specific amounts to the respective members. I keep a copy of the checks.How does the individual member, who directly deposited the check get credited from Schwab on the Bivio account?Sent from my iPhoneOn Jun 22, 2023, at 2:14 AM, Rebecca Reeves via bivio.com <user*34255900001@bivio.com> wrote:I'm treasurer of two clubs. Each of them has been in operation for over 30 years and brokers have changed over the years. Both clubs have accounts with local banks where checks are deposited after monthly meeting. One club has a PayPal account that members can send deposits to which can then be transferred directly into the club account. It's not that big a deal to make a monthly bank deposit. Funds can be directly sent to TD Ameritrade from the bank or a check can be mailed. This has worked for years. Some cash remains in the bank account for expenditures. Funds can be directly sent from broker to withdrawing members or a check from the back can be sent. It's very easy to transfer funds from TD Ameritrade to a bank account. I'm hoping this will continue with Schwab.Sent from my iPhoneOn Jun 22, 2023, at 12:33 AM, Linda Glein via bivio.com <user*21345500001@bivio.com> wrote:Most of our partners use either ACH or bill pay to deposit directly into the brokerage account (TDA). The three who do not give me checks and I can quickly do a mobile deposit. Sometimes I do it during the meeting, other times the following day.. I keep a pdf of the TDA deposit form that I can print out and use to mail in a check if necessary. We do not have a separate checking accountWe have very few expenses, and we either request a check from TDA (a bit of a hassle, but it is rare). We're more likely to have an individual pay and reimburse with units. Again, rare. Bivio annual subscription, postage, that sort of thing.LindaHello Fellow Investment Clubs,I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.Can you please share what your club is doing that works well?Thank you.Kay Branz, PresidentLakshmi Investors
We direct deposit into the brokerage account.
> On Jun 21, 2023, at 6:50 PM, Dickerson, Jimmy via bivio.com <user*78700001@bivio.com> wrote:
>
> Local checking account. Members dues are deposited there and e-transferred to TDAmeritrade. We keep a small amount of cash in the checking.
>
> Jimmy
> James P Dickerson
> TLP Investment Club.
>
> Sent from my iPhone
>
>> On Jun 21, 2023, at 4:34 PM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
>>
>> CAUTION: External Email
>>
>>
>> We require members to direct deposit.
>> Why make work for the treasurer.
>>
>> Bob Shaw
>> President
>> Classic Strategy Investment Club
>>
>>
>>>> On Jun 21, 2023, at 1:11 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
>>>
>>> Hello Fellow Investment Clubs,
>>> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
>>>
>>> Can you please share what your club is doing that works well?
>>>
>>> Thank you.
>>>
>>> Kay Branz, President
>>> Lakshmi Investors
>>
> On Jun 21, 2023, at 6:50 PM, Dickerson, Jimmy via bivio.com <user*78700001@bivio.com> wrote:
>
> Local checking account. Members dues are deposited there and e-transferred to TDAmeritrade. We keep a small amount of cash in the checking.
>
> Jimmy
> James P Dickerson
> TLP Investment Club.
>
> Sent from my iPhone
>
>> On Jun 21, 2023, at 4:34 PM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
>>
>> CAUTION: External Email
>>
>>
>> We require members to direct deposit.
>> Why make work for the treasurer.
>>
>> Bob Shaw
>> President
>> Classic Strategy Investment Club
>>
>>
>>>> On Jun 21, 2023, at 1:11 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
>>>
>>> Hello Fellow Investment Clubs,
>>> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
>>>
>>> Can you please share what your club is doing that works well?
>>>
>>> Thank you.
>>>
>>> Kay Branz, President
>>> Lakshmi Investors
>>
how are you keeping individual payments then on Bivio? Schwab just transfers the total deposit and I have to assign them to members in Bivio.
On Fri, Jun 23, 2023 at 1:54â¯PM Robin Travis-malbrough via bivio.com <user*38558700001@bivio.com> wrote:
We direct deposit into the brokerage account.
> On Jun 21, 2023, at 6:50 PM, Dickerson, Jimmy via bivio.com <user*78700001@bivio.com> wrote:
>
> Local checking account. Members dues are deposited there and e-transferred to TDAmeritrade. We keep a small amount of cash in the checking.
>
> Jimmy
> James P Dickerson
> TLP Investment Club.
>
> Sent from my iPhone
>
>> On Jun 21, 2023, at 4:34 PM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
>>
>> CAUTION: External Email
>>
>>
>> We require members to direct deposit.
>> Why make work for the treasurer.
>>
>> Bob Shaw
>> President
>> Classic Strategy Investment Club
>>
>>
>>>> On Jun 21, 2023, at 1:11 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
>>>
>>> Hello Fellow Investment Clubs,
>>> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
>>>
>>> Can you please share what your club is doing that works well?
>>>
>>> Thank you.
>>>
>>> Kay Branz, President
>>> Lakshmi Investors
>>
Dan Cohn
404 862 5640
404 862 5640
Our club members have automatic deposits into checking account. We e-transfer to broker as needed and write checks for withdrawals, treasurer expense and BIVIO subscription.
Sent from Mail for Windows
From: Robin Travis-malbrough via bivio.com
Sent: Friday, June 23, 2023 12:54 PM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Re: [EXTERNAL] Re: [club_cafe] Club Member Funds: Checks to a Bank vs. Direct Deposit to Brokerage Account?
We direct deposit into the brokerage account.
> On Jun 21, 2023, at 6:50 PM, Dickerson, Jimmy via bivio.com <user*78700001@bivio.com> wrote:
>
> Local checking account. Members dues are deposited there and e-transferred to TDAmeritrade. We keep a small amount of cash in the checking.
>
> Jimmy
> James P Dickerson
> TLP Investment Club.
>
> Sent from my iPhone
>
>> On Jun 21, 2023, at 4:34 PM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
>>
>> CAUTION: External Email
>>
>>
>> We require members to direct deposit.
>> Why make work for the treasurer.
>>
>> Bob Shaw
>> President
>> Classic Strategy Investment Club
>>
>>
>>>> On Jun 21, 2023, at 1:11 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
>>>
>>> Hello Fellow Investment Clubs,
>>> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
>>>
>>> Can you please share what your club is doing that works well?
>>>
>>> Thank you.
>>>
>>> Kay Branz, President
>>> Lakshmi Investors
>>
Our club uses a separate bank account for members to electronically make payments on monthly basis. Then TD automatically moves the monthly total out of bank (Capital One) into TD. So treasurer doesnât have to do anything about the monthly contributions. This has worked very well for us since 2001.
Sent from my iPhone
Sheryl Story
> On Jun 21, 2023, at 1:12 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
>
> 
> Hello Fellow Investment Clubs,
> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
>
> Can you please share what your club is doing that works well?
>
> Thank you.
>
> Kay Branz, President
> Lakshmi Investors
Sent from my iPhone
Sheryl Story
> On Jun 21, 2023, at 1:12 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
>
> 
> Hello Fellow Investment Clubs,
> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
>
> Can you please share what your club is doing that works well?
>
> Thank you.
>
> Kay Branz, President
> Lakshmi Investors
Members send check to assistant treasurer with penny identifiers. He batches at end of month and sends checks to TDA under our account which has a checking account. Bivio nicely receives check deposits and applies to each member. Checking acct used for subscription fees, member withdrawals etc. Doing this since 1999. Our hope is that Schwab interface is identical when we convert.
Bob Ford
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Linda Mortimore via bivio.com
Sent: Friday, June 23, 2023 2:42 PM
To: club_cafe@bivio.com
Subject: RE: [club_cafe] Re: [EXTERNAL] Re: [club_cafe] Club Member Funds: Checks to a Bank vs. Direct Deposit to Brokerage Account?
Our club members have automatic deposits into checking account. We e-transfer to broker as needed and write checks for withdrawals, treasurer expense and BIVIO subscription.
Sent from Mail for Windows
From: Robin Travis-malbrough via bivio.com
Sent: Friday, June 23, 2023 12:54 PM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Re: [EXTERNAL] Re: [club_cafe] Club Member Funds: Checks to a Bank vs Direct Deposit to Brokerage Account?
We direct deposit into the brokerage account.
> On Jun 21, 2023, at 6:50 PM, Dickerson, Jimmy via bivio.com <user*78700001@bivio.com> wrote:
>
> Local checking account. Members dues are deposited there and e-transferred to TDAmeritrade. We keep a small amount of cash in the checking.
>
> Jimmy
> James P Dickerson
> TLP Investment Club.
>
> Sent from my iPhone
>
>> On Jun 21, 2023, at 4:34 PM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
>>
>> CAUTION: External Email
>>
>>
>> We require members to direct deposit.
>> Why make work for the treasurer.
>>
>> Bob Shaw
>> President
>> Classic Strategy Investment Club
>>
>>
>>>> On Jun 21, 2023, at 1:11 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
>>>
>>> Hello Fellow Investment Clubs,
>>> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
>>>
>>> Can you please share what your club is doing that works well?
>>>
>>> Thank you.
>>>
>>> Kay Branz, President
>>> Lakshmi Investors
>>
which brokerage? Are you with Schwab now?
> On 06/23/2023 1:54 PM EDT Robin Travis-malbrough via bivio.com <user*38558700001@bivio.com> wrote:
>
>
> We direct deposit into the brokerage account.
>
> > On Jun 21, 2023, at 6:50 PM, Dickerson, Jimmy via bivio.com <user*78700001@bivio.com> wrote:
> >
> > Local checking account. Members dues are deposited there and e-transferred to TDAmeritrade. We keep a small amount of cash in the checking.
> >
> > Jimmy
> > James P Dickerson
> > TLP Investment Club.
> >
> > Sent from my iPhone
> >
> >> On Jun 21, 2023, at 4:34 PM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
> >>
> >> CAUTION: External Email
> >>
> >>
> >> We require members to direct deposit.
> >> Why make work for the treasurer.
> >>
> >> Bob Shaw
> >> President
> >> Classic Strategy Investment Club
> >>
> >>
> >>>> On Jun 21, 2023, at 1:11 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
> >>>
> >>> Hello Fellow Investment Clubs,
> >>> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
> >>>
> >>> Can you please share what your club is doing that works well?
> >>>
> >>> Thank you.
> >>>
> >>> Kay Branz, President
> >>> Lakshmi Investors
> >>
> On 06/23/2023 1:54 PM EDT Robin Travis-malbrough via bivio.com <user*38558700001@bivio.com> wrote:
>
>
> We direct deposit into the brokerage account.
>
> > On Jun 21, 2023, at 6:50 PM, Dickerson, Jimmy via bivio.com <user*78700001@bivio.com> wrote:
> >
> > Local checking account. Members dues are deposited there and e-transferred to TDAmeritrade. We keep a small amount of cash in the checking.
> >
> > Jimmy
> > James P Dickerson
> > TLP Investment Club.
> >
> > Sent from my iPhone
> >
> >> On Jun 21, 2023, at 4:34 PM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
> >>
> >> CAUTION: External Email
> >>
> >>
> >> We require members to direct deposit.
> >> Why make work for the treasurer.
> >>
> >> Bob Shaw
> >> President
> >> Classic Strategy Investment Club
> >>
> >>
> >>>> On Jun 21, 2023, at 1:11 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
> >>>
> >>> Hello Fellow Investment Clubs,
> >>> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
> >>>
> >>> Can you please share what your club is doing that works well?
> >>>
> >>> Thank you.
> >>>
> >>> Kay Branz, President
> >>> Lakshmi Investors
> >>
Club partners send me personal checks which I deposit individually using TDA app. I manually maintain the checks, record Check #s and amounts. When Bivio/TDA reconcile deposits, I manually attribute checks to individual partners.
If someone has an easier method explained, I would be interested in seeing it.
-----Original Message-----
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of DR CHISHOLM MD via bivio.com
Sent: Saturday, June 24, 2023 11:36 AM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Re: [EXTERNAL] Re: [club_cafe] Club Member Funds: Checks to a Bank vs. Direct Deposit to Brokerage Account?
which brokerage? Are you with Schwab now?
> On 06/23/2023 1:54 PM EDT Robin Travis-malbrough via bivio.com <user*38558700001@bivio.com> wrote:
>
>
> We direct deposit into the brokerage account.
>
> > On Jun 21, 2023, at 6:50 PM, Dickerson, Jimmy via bivio.com <user*78700001@bivio.com> wrote:
> >
> > Local checking account. Members dues are deposited there and e-transferred to TDAmeritrade. We keep a small amount of cash in the checking.
> >
> > Jimmy
> > James P Dickerson
> > TLP Investment Club.
> >
> > Sent from my iPhone
> >
> >> On Jun 21, 2023, at 4:34 PM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
> >>
> >> CAUTION: External Email
> >>
> >>
> >> We require members to direct deposit.
> >> Why make work for the treasurer.
> >>
> >> Bob Shaw
> >> President
> >> Classic Strategy Investment Club
> >>
> >>
> >>>> On Jun 21, 2023, at 1:11 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
> >>>
> >>> Hello Fellow Investment Clubs,
> >>> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
> >>>
> >>> Can you please share what your club is doing that works well?
> >>>
> >>> Thank you.
> >>>
> >>> Kay Branz, President
> >>> Lakshmi Investors
> >>
If someone has an easier method explained, I would be interested in seeing it.
-----Original Message-----
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of DR CHISHOLM MD via bivio.com
Sent: Saturday, June 24, 2023 11:36 AM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Re: [EXTERNAL] Re: [club_cafe] Club Member Funds: Checks to a Bank vs. Direct Deposit to Brokerage Account?
which brokerage? Are you with Schwab now?
> On 06/23/2023 1:54 PM EDT Robin Travis-malbrough via bivio.com <user*38558700001@bivio.com> wrote:
>
>
> We direct deposit into the brokerage account.
>
> > On Jun 21, 2023, at 6:50 PM, Dickerson, Jimmy via bivio.com <user*78700001@bivio.com> wrote:
> >
> > Local checking account. Members dues are deposited there and e-transferred to TDAmeritrade. We keep a small amount of cash in the checking.
> >
> > Jimmy
> > James P Dickerson
> > TLP Investment Club.
> >
> > Sent from my iPhone
> >
> >> On Jun 21, 2023, at 4:34 PM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
> >>
> >> CAUTION: External Email
> >>
> >>
> >> We require members to direct deposit.
> >> Why make work for the treasurer.
> >>
> >> Bob Shaw
> >> President
> >> Classic Strategy Investment Club
> >>
> >>
> >>>> On Jun 21, 2023, at 1:11 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
> >>>
> >>> Hello Fellow Investment Clubs,
> >>> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
> >>>
> >>> Can you please share what your club is doing that works well?
> >>>
> >>> Thank you.
> >>>
> >>> Kay Branz, President
> >>> Lakshmi Investors
> >>
Bernard, we cut out the middleman, the Treasurer, with some partners mailing personal checks direct to Schwab and other partners using the Bill Pay feature at their banks to send a payment to Schwab. We use the cents option to designate who the payment is from. I then get an email from Schwab to acknowledge a payment was received, and then I get an email from Bivio to let me know there are unassigned funds in the cash account. I go into Bivio and assign the payment to a member based on the cents amount.
Schwab handles our banking when we need to write checks from our brokerage account for expenses.
This takes the Treasurer out of the recording of Partners checks.
Steve Foster
Circle of Friends
On Saturday, June 24, 2023 at 10:32:09 AM PDT, Bernard Worst via bivio.com <user*16855300001@bivio.com> wrote:
Club partners send me personal checks which I deposit individually using TDA app. I manually maintain the checks, record Check #s and amounts. When Bivio/TDA reconcile deposits, I manually attribute checks to individual partners.
If someone has an easier method explained, I would be interested in seeing it.
-----Original Message-----
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of DR CHISHOLM MD via bivio.com
Sent: Saturday, June 24, 2023 11:36 AM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Re: [EXTERNAL] Re: [club_cafe] Club Member Funds: Checks to a Bank vs. Direct Deposit to Brokerage Account?
which brokerage? Are you with Schwab now?
> On 06/23/2023 1:54 PM EDT Robin Travis-malbrough via bivio.com <user*38558700001@bivio.com> wrote:
>
>
> We direct deposit into the brokerage account.
>
> > On Jun 21, 2023, at 6:50 PM, Dickerson, Jimmy via bivio.com <user*78700001@bivio.com> wrote:
> >
> > Local checking account. Members dues are deposited there and e-transferred to TDAmeritrade. We keep a small amount of cash in the checking.
> >
> > Jimmy
> > James P Dickerson
> > TLP Investment Club.
> >
> > Sent from my iPhone
> >
> >> On Jun 21, 2023, at 4:34 PM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
> >>
> >> CAUTION: External Email
> >>
> >>
> >> We require members to direct deposit.
> >> Why make work for the treasurer.
> >>
> >> Bob Shaw
> >> President
> >> Classic Strategy Investment Club
> >>
> >>
> >>>> On Jun 21, 2023, at 1:11 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
> >>>
> >>> Hello Fellow Investment Clubs,
> >>> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
> >>>
> >>> Can you please share what your club is doing that works well?
> >>>
> >>> Thank you.
> >>>
> >>> Kay Branz, President
> >>> Lakshmi Investors
> >>
If someone has an easier method explained, I would be interested in seeing it.
-----Original Message-----
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of DR CHISHOLM MD via bivio.com
Sent: Saturday, June 24, 2023 11:36 AM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Re: [EXTERNAL] Re: [club_cafe] Club Member Funds: Checks to a Bank vs. Direct Deposit to Brokerage Account?
which brokerage? Are you with Schwab now?
> On 06/23/2023 1:54 PM EDT Robin Travis-malbrough via bivio.com <user*38558700001@bivio.com> wrote:
>
>
> We direct deposit into the brokerage account.
>
> > On Jun 21, 2023, at 6:50 PM, Dickerson, Jimmy via bivio.com <user*78700001@bivio.com> wrote:
> >
> > Local checking account. Members dues are deposited there and e-transferred to TDAmeritrade. We keep a small amount of cash in the checking.
> >
> > Jimmy
> > James P Dickerson
> > TLP Investment Club.
> >
> > Sent from my iPhone
> >
> >> On Jun 21, 2023, at 4:34 PM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
> >>
> >> CAUTION: External Email
> >>
> >>
> >> We require members to direct deposit.
> >> Why make work for the treasurer.
> >>
> >> Bob Shaw
> >> President
> >> Classic Strategy Investment Club
> >>
> >>
> >>>> On Jun 21, 2023, at 1:11 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
> >>>
> >>> Hello Fellow Investment Clubs,
> >>> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
> >>>
> >>> Can you please share what your club is doing that works well?
> >>>
> >>> Thank you.
> >>>
> >>> Kay Branz, President
> >>> Lakshmi Investors
> >>
This is exactly how we do it with one addition, partners who have a Schwab account can set up a monthly recurring transfer from their personal account to the partnership account which eliminates any further work unless they want to change or discontinue the recurring transfer.
On Sunday, June 25, 2023 at 01:56:03 PM EDT, Steve Foster via bivio.com <user*26719700001@bivio.com> wrote:
Bernard, we cut out the middleman, the Treasurer, with some partners mailing personal checks direct to Schwab and other partners using the Bill Pay feature at their banks to send a payment to Schwab. We use the cents option to designate who the payment is from. I then get an email from Schwab to acknowledge a payment was received, and then I get an email from Bivio to let me know there are unassigned funds in the cash account. I go into Bivio and assign the payment to a member based on the cents amount.
Schwab handles our banking when we need to write checks from our brokerage account for expenses.
This takes the Treasurer out of the recording of Partners checks.
Steve Foster
Circle of Friends
On Saturday, June 24, 2023 at 10:32:09 AM PDT, Bernard Worst via bivio.com <user*16855300001@bivio.com> wrote:
Club partners send me personal checks which I deposit individually using TDA app. I manually maintain the checks, record Check #s and amounts. When Bivio/TDA reconcile deposits, I manually attribute checks to individual partners.
If someone has an easier method explained, I would be interested in seeing it.
-----Original Message-----
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of DR CHISHOLM MD via bivio.com
Sent: Saturday, June 24, 2023 11:36 AM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Re: [EXTERNAL] Re: [club_cafe] Club Member Funds: Checks to a Bank vs. Direct Deposit to Brokerage Account?
which brokerage? Are you with Schwab now?
> On 06/23/2023 1:54 PM EDT Robin Travis-malbrough via bivio.com <user*38558700001@bivio.com> wrote:
>
>
> We direct deposit into the brokerage account.
>
> > On Jun 21, 2023, at 6:50 PM, Dickerson, Jimmy via bivio.com <user*78700001@bivio.com> wrote:
> >
> > Local checking account. Members dues are deposited there and e-transferred to TDAmeritrade. We keep a small amount of cash in the checking.
> >
> > Jimmy
> > James P Dickerson
> > TLP Investment Club.
> >
> > Sent from my iPhone
> >
> >> On Jun 21, 2023, at 4:34 PM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
> >>
> >> CAUTION: External Email
> >>
> >>
> >> We require members to direct deposit.
> >> Why make work for the treasurer.
> >>
> >> Bob Shaw
> >> President
> >> Classic Strategy Investment Club
> >>
> >>
> >>>> On Jun 21, 2023, at 1:11 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
> >>>
> >>> Hello Fellow Investment Clubs,
> >>> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
> >>>
> >>> Can you please share what your club is doing that works well?
> >>>
> >>> Thank you.
> >>>
> >>> Kay Branz, President
> >>> Lakshmi Investors
> >>
If someone has an easier method explained, I would be interested in seeing it.
-----Original Message-----
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of DR CHISHOLM MD via bivio.com
Sent: Saturday, June 24, 2023 11:36 AM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Re: [EXTERNAL] Re: [club_cafe] Club Member Funds: Checks to a Bank vs. Direct Deposit to Brokerage Account?
which brokerage? Are you with Schwab now?
> On 06/23/2023 1:54 PM EDT Robin Travis-malbrough via bivio.com <user*38558700001@bivio.com> wrote:
>
>
> We direct deposit into the brokerage account.
>
> > On Jun 21, 2023, at 6:50 PM, Dickerson, Jimmy via bivio.com <user*78700001@bivio.com> wrote:
> >
> > Local checking account. Members dues are deposited there and e-transferred to TDAmeritrade. We keep a small amount of cash in the checking.
> >
> > Jimmy
> > James P Dickerson
> > TLP Investment Club.
> >
> > Sent from my iPhone
> >
> >> On Jun 21, 2023, at 4:34 PM, Robert Shaw via bivio.com <user*27509400001@bivio.com> wrote:
> >>
> >> CAUTION: External Email
> >>
> >>
> >> We require members to direct deposit.
> >> Why make work for the treasurer.
> >>
> >> Bob Shaw
> >> President
> >> Classic Strategy Investment Club
> >>
> >>
> >>>> On Jun 21, 2023, at 1:11 PM, Kay Branz via bivio.com <user*34862000001@bivio.com> wrote:
> >>>
> >>> Hello Fellow Investment Clubs,
> >>> I'm trying to get a sense of how many clubs have their members direct deposit into the brokerage account vs. having a separate bank account member checks are deposited into. We currently use a separate bank account and checks. We also currently use TDA for our brokerage account.
> >>>
> >>> Can you please share what your club is doing that works well?
> >>>
> >>> Thank you.
> >>>
> >>> Kay Branz, President
> >>> Lakshmi Investors
> >>