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Path: utzoo!watmath!clyde!burl!ulysses!mhuxl!ihnp4!zehntel!tektronix!uw-beaver!teltone!teldata!ted
From: ted@teldata.UUCP (Ted Becker)
Newsgroups: net.consumers
Subject: Schwab One Accounts
Message-ID: <299@teldata.UUCP>
Date: Fri, 6-Apr-84 14:34:03 EST
Article-I.D.: teldata.299
Posted: Fri Apr  6 14:34:03 1984
Date-Received: Sun, 8-Apr-84 07:08:28 EST
Organization: Teltone Corp., Kirkland, WA
Lines: 20

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I just closed out my Schwab One account, not because I didn't like it,
because I needed the $500.00 cash.

The checks they give you are on an Ohio bank and may give you trouble cashing
an out-of-state check at some places.

If you over draw (dip into the $500) they bounce it back and charge you
$9.00.

The VISA card you get is a debit which eliminates the free credit advantage
of a credit card.

The monthly statements are nearly impossible to understand.

In a month or so, when my cash flow problem is over (had to pay the IRS),
I intend to reopen my Schwab One account.  Where else can you get 9% on
money in a checking account?  I think it would even be worth it to borrow
the opening amount for 2 months to open the account.  If you have some
securities the minimum balance could be covered by them.