We have recently been switched from Mydiscountbroker to
Ameritrade. When I requested checks for the Ameritrade
account, I was told I had to apply for a Margin Account in
order to have check writing privileges.

Could someone tell me if there are any *disadvantages* to
opening up a Margin Account? I just don't understand why
this is necessary just to get a checkbook!

Thank you for your help in this regard.

Ellen

I just went through this with Ameritrade. We had to apply
for margin. We had to send our bylaws. We had to amend our
bylaws to allow margin. We had to resend our bylaws. We
had to request checks. We had to re-request checks.
Finally we got checks!

By the way, see my recent post about using PayPal (for dues
payments and reimbursing members.) After all my ordeal
getting checks...I figured out I didn't need any!