Scottrade Bank Bank Account Or Service Complaint

Scottrade Bank Bank account or service department,

Savings account Making/receiving payments, sending money California

Scottrade is good in that it offers good promotions. 2 months of free trading practically and a bonus once you bring in new money. I 've done several - trades with Scottrade, and the executions seemed ok for the most part. Free trades are always good to have but yes they will eventually run out. The - complaint I do have with Scottrade is that withdrawal limits are extremely low. First you have to transfer your funds from your brokerage account to your scottrade bank account, which takes a few seconds, so that 's not a big deal. But the limits are as follows to withdraw from your Scottrade bank account to your external bank account via ACH - $ - max per day and $ - max per rolling week and $ - max per rolling month. So if you have a $ - portfolio, for example, and want to extract your funds, you have to either get a check from them, or go to their office and get a wire transfer form. They may waive the fee for it, but your receiving institution will still charge a small fee perhaps. It 's just a hassle. I know - and - have very generous ACH external transfer limits. Scottrade, on the other hand, should learn from the big boys.