Wednesday, March 22, 2006

Successfully linked Scottrade to HSBC

Last month I had a feed about a new way to fund your scottrade investment account. Here is the summary, with a balance over $5000, you can take advantage of the check writing feature offered by scottrade. And HSBC allows you to link your investment account to it so that you can transfer the money online between those two accounts.

I received 50 free checks from scottrade last Saturday (03/18) and started setting up the online transfer last Sunday (03/19). There is no special trick for linking accounts. You just go to b2b transfer and select add investment account. And then select scottrade. You will be asked to provide your account number in scottrade and your checking number (the second group of numbers on your check). Then you just wait for the trial deposit to show up. My trial deposit came on Tuesday (3/21). After I received the trial deposit, only a quarter though, I went back to HSBC and put the number in the verification window. And the scottrade account was added to the list of linking accounts immediately.


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