| Between Schwab brokerage accounts and outside accounts |
Online process.
One-time or regularly scheduled transfers.
Requires initial set-up. |
1-2 business days
Requests received prior to 2:30 p.m. PT (5:30 p.m. ET) will generally be processed within one day. After 2:30 p.m. PT, processing generally takes 2 days.
A 3 business day hold is placed on funds coming in via Schwab brokerage MoneyLink® . You will earn interest and be able to trade most stocks and mutual funds as soon as the money is deposited. Until the hold time has elapsed, you may not withdraw the funds or use incoming MoneyLink® funds to trade securities requiring cleared funds up front, such as options or penny stocks. |
This is straight from the Schwab website.
I transfer from a Bank of America account to my Schwab Brokerage account. Its free.. but it takes 3 days to clear. Penny stocks you have to wait the 3 days... other stocks i dont have a problem, you can buy as the transfer is made... you just cant trade/sell until after the 3 days pass. For pennies, you cant do anything until after the 3 days.
