Upbeat music plays throughout.
Narrator: A wire transfer is the quickest way to fund your Schwab brokerage account.
This video will show you how to navigate Schwab.com to make a wire transfer, including where to find instructions for making the transfer, and how to follow them.
Animation: The schwab.com client account summary page appears on the screen.
On-screen text: For Illustrative Purposes Only.
Narrator: After logging in, first navigate to Transfer & Pay and then click Wire Transfer.
Because you're wiring to Schwab, click on Receive a wire and choose which account you want to use for the transfer. The steps are similar for domestic and international wire transfers.
However, domestic transfers can be made to either a brokerage account or a Schwab Bank account, while international wires must use a brokerage account.
For this example, we'll make an international wire transfer, but the steps will be similar for a domestic wire transfer. Choose a brokerage account and select No to make an international transfer.
Then, select Yes to make the wire transfer in U.S. dollars.
Animation: A wire transfer form appears alongside the wire instructions, and information is entered into the fields on a transfer form.
Narrator: The wire transfer instructions will appear, which you can use at any bank. Forms vary by institution, and if your financial institution requests a beneficiary or payee, it is Charles Schwab Co. Inc.
On-screen text: Do not list your name and Schwab account number as the payee or beneficiary, or the wire may be returned.
Narrator: Remember, list your first name, last name, and Schwab account number to designate the funds for your account.
If your institution doesn't provide enough space for that information on the form, you can abbreviate For further credit to as FFC.
When Schwab receives the wire, we'll put the funds in your account. Keep in mind that wires must first go to a third-party account owned by Schwab before the funds are transferred internally to you.
Within the U.S., wire transfers typically complete in one business day. International wires may take between two to seven business days. Wire transfers are only processed on business days.
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