This obligation will survive the termination of this Agreement. Accounts with less than $100 in cash 30 days prior to the termination of the custodianship will be closed and a check for the value of the Account will be mailed to the Custodian. The minimum deposit may consist of check, Electronic Fund Transfer and/or marginable securities. You agree not to enter an order in your Margin and Short Account until you have read and understood the Disclosure of Credit Terms and Policies. If Schwab fails to sweep, or pay interest on, your Free Credit Balance according to the Cash Features Disclosure Statement, Schwab's liability is limited to the actual amount of interest or dividends you would have earned had the Free Credit Balance been invested, deposited, or credited in the manner described in the Cash Features Disclosure Statement. You agree to make payment of any indebtedness related to your Schwab Account, including, but not limited to, any such indebtedness that results from instructions provided to Schwab by you, your agent, or any attorney-in-fact under a power of attorney or advisor authorized to make transactions in your Schwab Account. You agree not to hold us responsible for any losses incurred in connection with the closing of your account. Terms apply. You agree to pay all subscription, service and use fees, if any, that you are charged by Schwab or its designee for Schwab's Electronic Services. Charles Schwab Account Restricted When Trying to Transfer Funds? Schwab does not have any obligation to advance redemption proceeds and distributions related to mutual fund shares to your account before we have received them from the mutual fund. We also may reject any instruction that is not confirmed in accordance with any other security procedure that you and we agree upon. If any assets held in your account generate unrelated business taxable income (UBTI), you have the sole responsibility for reporting such income to the Internal Revenue Service (IRS) and any other tax authorities and for complying with any other tax filing requirements resulting from receipt of such unrelated business taxable income. You further agree to comply with all reasonable written requests from Schwab intended to protect the Information and Third-Party Research Providers' and Schwab's respective rights in the Information and Electronic Services. We reserve the right to charge interest on debit balances in the Cash Account. To add or remove the Plan with respect to securities in your account, you must notify us at least one Business Day prior to the day on which dividends or other eligible cash distributions are payable for those securities. Holding Non-Publicly Traded Securities at Schwab. Charles Schwab Client Center If an ACH transfer is revoked before final settlement and we do not receive final settlement, we may charge your Account for any amount that was previously credited and the person who sent the payment order will be considered not to have paid you. Schwab will pay interest on remittances by check beginning on the first or second Business Day after the check is deposited, depending on the location of your bank. Your price per share will be the weighted average price of all SCHW shares purchased for Schwab StockBuilder Planparticipants by the buying agent with the funds from a particular eligible cash distribution. Charles Schwab Review 2023 - Forbes Advisor Plan ahead and simplify. If the Non-Publicly Traded Security is not certificated, you agree that Schwab may remove the security from the Account by notifying the issuer to re-register the position in your name, or in the case of a retirement plan brokerage custodial account, in the name of the Trustee or other applicable plan fiduciary for benefit of the plan and remove Schwab as custodian. As used in the Schwab Account Agreement, the terms listed below are defined as follows: To open a Schwab Account, you complete an Account Application. You agree that, in purchasing and redeeming shares of a mutual fund through Schwab, Schwab's policies and procedures will govern such transactions and not those of the mutual fund as described in its prospectus, which may be either more or less beneficial to you as an investor. In some situations, we can find it necessary to require a higher level of equity in your account. ArbitrationYou agree that any controversy which may arise between yourself and any Third-Party Information or Research Provider and any of their officers, directors, affiliates and employees, shall be resolved in arbitration in accordance with the terms and conditions of the arbitration agreement(s) entered into between you and Schwab at the time you opened your Schwab account(s), and as amended from time to time. You agree that you are responsible for knowing the features, rights, and terms of all securities in your account and that you are responsible for making election decisions in corporate actions. In addition, if you write an uncovered call option contract and are allocated an exercise of the option, you may be required to borrow shares in order to satisfy the delivery requirement of the option contract. If you intend to send funds to settle securities transactions, we must receive these funds on the Business Day before the Settlement Date to prevent an automatic redemption. You further acknowledge and agree as follows: We may prescribe limitations or refuse to accept checks for deposit when forwarded to us by your advisor. We are entitled to exercise the rights described in this section in our sole discretion, including whenever any of the following occurs: You agree to designate a sell order as a short sale if, at the time you place the order, you either do not own the security being sold or are unable to deliver the security in a timely manner. Risk of Changing Prices. You agree that Schwab will not be liable for any losses in any of these circumstances. Fail to receive an accurate written confirmation of an order or its execution. We may select any intermediary bank, funds transfer system, or means of transmittal to send your payment orders. Schwab does not endorse or approve Research Reports prepared by Third-Party Research Providers and only makes such Research Reports available to you as a service and convenience. If you do authorize us to take action on your behalf, regular service transaction fees will apply. You authorize us to act as your agent to make deposits to and withdrawals from deposit accounts at one or more banks or purchase and sell shares in a SchwabSweep Money Fund in accordance with the Cash Features Disclosure Statement. Any attempt you make to cancel an order is simply a "request to cancel." The beneficiary's bank (including us when we are the beneficiary's bank) may make payment to the beneficiary based solely on the account or other identifying number you provide, even if the name on the payment order differs from the name on the account. Your advisor may forward the physical check to us or transmit images of the check and other data to us electronically. In addition, Schwab reserves the right, but is not obligated, to prevent any IPO stock from being traded through the Electronic Services. Bring the Message tool (s) to the front: Makes the Messages tool the active window in your StreetSmart Edge display. The most common reasons are a decrease in the value of long securities held as collateral or an increase in the value of securities held short. Read More . Prices generally reflect activity by market participants or dealers linked to various trading systems. A short sale is a margin transaction subject to initial margin and margin maintenance requirements. It is the obligation of fiduciaries to notify Schwab of accounts that should not be linked. If an order cannot be canceled or changed, you agree that you are bound by the results of the original order you placed. Schwab has no responsibility for any such determination (1). + Transcript Corporate philanthropy and employee giving You agree to use the services to enter your orders if time is of the essence. Cash Investments - Sweeps, CDs, Money Market Funds & More | Charles Schwab Any review performed by Schwab will solely be for its benefit in determining its ability to hold and service the Non-Publicly Traded Security. If you place an order to buy or sell a specific dollar amount of a mutual fund, Schwab will calculate the number of shares bought or sold by dividing the dollar amount of the order by the price and rounding to the nearest three decimal places. Index to selected Germany births and baptisms. You may opt out of future emails about products or services by following instructions in our privacy policy, on our website, or contained in an email that you receive from us. Risk of Wider Spreads. Notwithstanding the foregoing, with respect to any Account subject to the terms of this Agreement that is a retirement plan or retirement plan brokerage Account (including a Company Retirement Account ["CRA"] or Personal Choice Retirement Account["PCRA"]), Schwab may provide you (including independent Plan Trustees, Plan Sponsors, and/or other applicable plan fiduciaries or their agents) with notice of matters impacting your Account, which notice will include your direction, instruction, and authorization with respect to the action to be taken (or not to be taken, as applicable) with respect to the particular matter related to your Account. During non-business hours or during periods of peak demand, market volatility, systems upgrades or maintenance, or for other reasons, access to a Schwab representative via the phone channel may be limited or unavailable. In terms of margin rates to borrow for investments, Charles Schwab is middle of the pack. The lender of the securities recalls them; We anticipate an inability to borrow or re-borrow these securities; or, The Bank Sweep and Bank Sweep for Benefit Plans features, each of which automatically makes deposits to and withdrawals from deposit accounts at one or more bankswhose deposits are insured by the FDIC; and, The "Money Fund Sweep" feature automatically invests in and redeems shares of a Schwab, Schwab's proprietary software such as Velocity. In addition, if you do not accrue at least one daily dividend of $0.01 during a pay period, you will not receive a money market dividend for that period. You agree not to hold Schwab responsible for market fluctuations that may occur to the market price or settlement of your securities while your transaction is processed. No minimum balance or monthly account service fees Easy transfers to your other Schwab bank and brokerage accounts 2 FDIC-insured up to $250,000 per depositor 3 To the extent applicable to your account, the unclaimed property law requires us to turn over to the state of your last known address (as shown in our records) personal property which is unclaimed by its owner for a set period of time. If you wish to have a transaction reviewed, please contact a Schwab representative immediately, as you must make an appeal within 30 minutes of the execution time for a "break" to be considered. However, if you place a limit order, you are less likely to get an execution. Until notified otherwise by Schwab, you agree to use software that supports the Secure Socket Layer (SSL) protocol or other protocols accepted by Schwab and follow Schwab's logon procedures for Electronic Services that support such protocols. Unauthorized access is prohibited. Your purchase and sale of mutual fund shares can be subject to additional fees the fund imposes, such as sales loads and contingent redemption fees, that are separate from, and in addition to, the transaction and other fees charged to you by Schwab. You further represent and warrant that you are not employed by, acting as agent of or partially owned or controlled by a government, a government-controlled entity or a government corporation except as you have indicated on your Account Application with Schwab. Receive confirmation of an order that you did not place. Generally, current margin maintenance rules require you to maintain equity in your account equal to at least Schwab's minimum maintenance requirement for the market value of each stock "short" in your account. Schwab is able to effect these transactions without charging a transaction fee/commission because we receive remuneration from the registered investment company, exchange-traded product, and/or their affiliate for services rendered by Schwab in connection with these shares. If you owe a debt to Schwab or our affiliate Charles Schwab Bank, SSB as the result of a transfer between an account of Schwab and Charles Schwab Bank, SSB where provisional credit has been granted and final settlement is not received, you agree that Schwab and Charles Schwab Bank, SSB are entitled to setoff such debt, in whole or in part, against assets in any account of Schwab or Charles Schwab Bank, SSB involved in such transfer without further notice. A voluntary corporate action will require an election from you before Schwab's cut-off date to indicate if and how you want to participate. If we ask you to put your complaint or question in writing and we do not receive it within 10 Business Days (or 20 Business Days if applicable), we may not credit your account. This includes services and information accessible through Schwab, or service providers used by Schwab, including, but not limited to: Services ProvidedSchwab's Electronic Services allow you to enter orders to buy and sell certain securities, stock options and mutual funds within your Schwab Account, and to access securities price quotations, investing information and your personal account information.
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