Our broker will not offer direct ACH and we waste precious
time waiting on snail mail to deliver a check. what
online brokers are more investment club friendly than that ?
if they offer one perk, do they take away another. for
instance , our current broker, scottrade, does not charge a
fee to transfer, in or out, but the one we are considering
transferring to is TD Ameritrade,,,,,,however, i learend
that it would charge a hefty fee to transfer out now that
she's in.

so, who out there wants our business enough to offer free
transfers and direct ach and any other perks, like dual
passwords, and such.?

Deannie

Thanks , Lynn.

I have found that TDAmeritrade offers free ACH direct to
investment clubs. i also learned that i can transfer our
one DRIP that has been handled as the separate account it is
, for years. I am told I can transfer the PEP drip to our
new TDA account. I think there will be the gold medallion
hassle when I do the transfer, but after that it will be
treated as a regular drip stock. No more waiting for
everyone all the signatures, etc.

my next question. Is TDA legit? are there hidden costs
down the road that indicate we should leave our accounts
with scccottrade, or firsttrade?

the man in the phone was very informed.

Deannie



Lynn Ostrem wrote:
> Deannie, Crow River uses www.firstrade.com.  They don't participate in the Account Sync program, but due to their investment-club-friendly customer service AND management AND rules, we simply feel the relationship is worth the 3-4 entries we have to make every month in our accounting system.  We make cost-free ACH transfers every month, and statements are free if you receive them online (our choice, anyway). 
>
>  
> Check it out.  Write back if you have any questions.
>  
> Lynn Ostrem
> garbagecop@gmail.com
> Crow River Investment Club
> www.bivio.com/crowriver
> Join me at InvestEd 2008
> Augest 8-10 in Charlotte, NC
> http://www.investor-education2008.org/
> On Mon, May 12, 2008 at 12:11 AM, Deannie Rule <mcrule@bivio.com> wrote:
> Our broker will not offer direct ACH and we waste precioustime waiting on snail mail  to deliver a  check.  what
> online brokers are more investment club friendly than that ?if they offer one perk, do they take away another. forinstance , our current broker, scottrade, does not charge afee to transfer, in or out, but the one we are considering
> transferring to is TD Ameritrade,,,,,,however, i learendthat it would charge a hefty fee to transfer out now thatshe's in.so, who out there wants our business enough to offer freetransfers and direct ach and any other perks, like dual
> passwords, and such.?Deannie-- Lynn Ostrem. Minneapolisgarbagecop@gmail.com

Deanie, we have used TDA for five years now, and have encountered no hidden
fees or inactivity charges in our normal usage. We get our statements
online, and best of all, have free checking (except $9.95 for a box of
checks), and deposits of individual checks made out to TDA are no hassle.

We opened the account with ca. $25,000, it is now pushing $60,000. There
could be maintenance for opening with very small balances. I suggest you go
to any company you are interested in, and go to their pricing and fees page
to compare fees for the odd-ball transactions that may come up, as they all
have them. We have not had the issue of doing any security transfers, so
can't answer on how that works.

Gene Rooks, SWIM, Orlando

We just opened an account with TDA. Our club doesn't have a
checking account, so all members send in their monthly
payment themselves. A few wanted to do the electronic
transfers but we were told that the bank account that it
comes from has to be named exactly as the broker account to
do the transfers.

John
ABODI Investment club
(A Bunch Of Dummies Investing)

John, you can establish free checking with TDA, as sooner or later you need
to write checks from club funds. We each make our checks out to TDA and
give them to the treasurer to make a deposit for us once a month.

Gene Rooks, SWIM, Orlando

Hi Gene,
We will open a checking account later. Our problem is that
you need $2,000 in your broker account to get a checking
account. We just started the club and only have $300. We
also are in three different states and soon five. We do
everything online. Everyone sends in their checks directly
to TDA. The expenses are paid as an contribution through
the accounting system.

John, ABODI Investment Club

Gene Rooks wrote:
> John, you can establish free checking with TDA, as sooner or later you need
> to write checks from club funds. We each make our checks out to TDA and
> give them to the treasurer to make a deposit for us once a month.
>
> Gene Rooks, SWIM, Orlando