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Brokerages by the numbers

Institution
Main phone
Account name
Yield
Minimum to
open/
Monthly
service fee
Check
 return
Online
banking
NSF
ATM
cards
Debit
cards
Notes
Charles Schwab
800-435-4000
Schwab One

4.34%

$10,000/$5
Copies on
request
Yes
$15
Yes
Yes
Minimum to avoid fees: $10,000 in checking or combined stock accounts on last week of the quarter.
Donaldson, Lufkin & Jenrette Co.
800-825-5723
Resource Checking
4.50%
$1/$0

No

Yes
$20
No
No
SIPC insured. Packaged with investment account.
Donaldson, Lufkin & Jenrette Co.
800-547-7008
ProCash Plus
4.50%
$10,000/$6.25
No
Yes
$20
Yes
Yes
SIPC insured. Packaged with investment account.
Fidelity Investments
800-544-8888
Ultra Service Account (USA)
5.04%
$5,000/$7
Yes
Yes
$15
No
No
Minimum to avoid fees: $30,000 or 2 stock trades per year. Monthly fee is charged quarterly.
Merrill Lynch
(Call Locally)
Cash Management Account
4.85%
$20,000/$8.33
3 copies per year at no charge
Yes
$20
No
Yes
Annual fee is charged regardless of account balance.
Prudential Securities
800-222-4321
Command Checking
4.98%
$10,000/$8.33
Yes
Yes
$15
Yes
N/A
Minimum to avoid fees: $500,000 or $100,000 plus direct deposit or a transferred account from another brokerage firm.
TD Waterhouse
888-327-9962
Everyday Checking
1.26%
$1/$6.95
Yes
Yes
$15
Yes
Yes
Monthly service: $0 with tie to a brokerage account. Separate statements are sent for checking and brokerage accounts.
Vanguard
888-285-4563
Federal Money Market Fund
5.00%
$3,000/$0.83
No
Yes
N/A
No
No
Money market mutual fund, not checking account -- no FDIC insurance. Accounts under $500 are liquidated; minimum per check is $250.
Vanguard
888-285-4563
Prime Money Market Fund
5.00%
$3,000/$0.83
No
Yes
N/A
No
No
Money market mutual fund, not checking account -- no FDIC insurance. Accounts under $500 are liquidated; minimum per check is $250.
Vanguard
888-285-4563
Treasury Money Market Fund
4.56%
$3,000/$0.83

No

Yes
N/A
No
No
Money market mutual fund not checking account -- no FDIC insurance. Accounts under $500 are liquidated; minimum per check is $250.

To comment on this story, please e-mail the Bankrate.com editors

-- Posted: Dec. 14, 1999

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See Also
Main story: Making your broker your banker -- or vice versa
AND: Speak the brokerage account lingo
More checking stories

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