Tech Tip: Linking Your Brokerage Account to Your Bank Account

In Cash Flow and Budgeting, Personal Finance by Manuela Meyer

We are often asked by clients if there is a way to link their TD Ameritrade or Charles Schwab brokerage accounts to their checking accounts so that they can transfer money back and forth between those accounts.  While there are a number of ways to accomplish this task, the easiest is to logon to your TD or Schwab account and make this connection yourself.  Here are step-by-step instructions to assist you in this process:

To Connect Your TD Ameritrade Account to Your Bank Account

  • Log in to your TD Ameritrade Account (https://www.advisorclient.com)
  • Once logged-in, go to “My Account” (at the top left of the screen)
  • Look for “Deposits & Transfers” on the populated menu and click on “Account/Bank Set-up”
  • From there, under “Add a New Setup” select the type of Set-up you want
  • You will receive the following question: Is the bank account you want to add owned by someone other than the TD Ameritrade account owner (a third party)?  Answer Yes or No to this question
  • Next, click “Add” next to your set-up selection
  • Verify your identity – You will get a security code either by phone or email depending on your selection.  From there simply follow the onscreen prompts

**You will need your bank’s ABA routing number, as well as your bank account number to complete the process.

To Connect Your Charles Schwab Account to Your Bank Account

  • Login to your Charles Schwab Account (https://client.schwab.com)
  • Hover your mouse over the “Accounts” tab at the top left of your screen
  • You will see your Schwab account number listed.  Beside it, you will notice a button to “Add an External Account.” Click on this button to begin the process of linking an external account to your Schwab account
  • Click on the “Enroll Online” button
  • Enter your ABA/Routing Number of your bank account in the space provided
  • Enter your bank Account Number in the space provided
  • Choose the Account Type from the drop down box
  • Click the “Continue” button
  • On the next screen, verify the banking information entered is correct and click “Continue”
  • Please note that Schwab will deposit a small amount of money into your bank account.  They will then send you an email whereby you will be prompted to verify the account type at your bank and the exact amount of money that Schwab transferred into this account as a test.
  • Click “Submit” and wait for the email from Schwab so that you can verify the connection to your bank account.

In the event that you would prefer assistance, you can always contact our office during normal office hours.  In addition, you can call TD Ameritrade’s 24/7 helpline at 800-431-3500 or Charles Schwab’s helpline at 800-515-2157.