How can I use the Internet to access my accounts at Charles Schwab & Company?

  Please click the icon to launch instructions for online access.


What information do I need to get a wire transfer into or out of my account?

Wires to Schwab: Provide the following instructions to the other financial institution.

Wires from Schwab: Obtain wiring instructions from the other institution and enclose those with your written authorization to Schwab.


To deposit money into my Schwab account, who should I make the check payable to?
Always make your check payable to Charles Schwab & Company – never to Summit.   It is our policy to protect our clients’ assets by using Charles Schwab as the custodian of our clients’ money.  Taking custody of your money is not something Summit is set up to do.  

How can I get a check from my account at Charles Schwab?

Request A Check: Summit will help you authorize Schwab to make a check payable from the account and mail it to you.   For checks to third parties, you must sign a written authorization and provide information about the party such as address, phone number and type of business.

Schwab MoneyLink Transfer: The most convenient way to get money from your account is a free Schwab MoneyLink Transfer between your Schwab account and your personal bank checking or savings account.  Whenever you need money, authorize a transfer into your account, then write a personal check. 

Write A Check On Your Investment Account: Although investment accounts don’t work well as checking accounts, in certain situations we advise you to obtain check writing capability on your Schwab investment account.  As you can imagine, this means you should communicate with Summit when you write a check so we can make certain your money market fund contains an adequate amount.


What if I need regular income from my investment account?
We can help you set an automatic Schwab MoneyLink transfer to your personal bank account on the day each month or quarter you need it.  You may also authorize Schwab to send a regular check from your account.


What if I have an emergency and need money quickly?
In an emergency, call Summit and we will instruct Schwab to have a check ready for you to pick up at any local office of Charles Schwab. 

When should I receive my account statements?
Schwab usually mails your monthly statements within days after the close of the month.   December statements may take a little longer because of end of year processing.   Unless Schwab experiences a rare failure, you should receive your statements within the first week to ten days after the close of the month.

Summit quarterly performance reports are usually mailed between the 15^th and 20^th of the month following the close of each quarter.  The annual statements in January usually take a few extra days because of year-end settlements and calculations. 


For other questions…
Contact your portfolio manager or any employee at Summit Asset Management.