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Charles Schwab Reduced Their Account Minimums
By JLP | April 20, 2007
I saw this in the Dow Jones Newswires and went to the Charles Schwab website and found the Press Release. Anyway, here’s the summary:
Schwab is reducing account minimums to $1,000, and is waiving minimums for clients who deposit as little as $100 a month.
From the press release:
At the same time, Schwab is eliminating all of its minimum balance charges, which were levied on accounts that dropped below their minimum balance requirements. Those included charges of $12.50 per quarter for brokerage accounts, $50 per year for IRAs, and $20 annually for custodial, education savings and college saver accounts.
There’s no mention of Schwab reducing commissions.
Topics: Business News | 2 Comments »
June 2nd, 2007 at 2:45 am
What was the previous minimum? $2000? That used to be the standard, for an options and stock trading account at other brokers. However, I opened my account at a competing broker for $500, but that was 10 years ago.
July 12th, 2010 at 10:00 am
i always read newspapers about business news as they provide me info on how to manage my business ““