Charles Schwab Advances Paperless Trading Environment With Launch of eConfirms(TM)
Schwab Customers Can Now Receive Trade Confirmations via Email, Eliminating Slow Paper Delivery
SAN FRANCISCO, Nov. 9 /PRNewswire/ -- Charles Schwab & Co. (NYSE: SCH), one of the nation's largest financial services firm, today made advances in paperless customer communications with the launch of eConfirms, Schwab's new email subscription service that delivers trade confirmations directly to customers, eliminating paper delivery. eConfirms lets customers trade in a completely electronic environment from log-on, to trade execution, to trade confirmation.
''eConfirms is a big step towards a paperless communications environment and creates a better online customer experience,'' said Michael Raneri, vice president, Product Development. ''Customers effortlessly receive trade notification in their email in-box without software to download or email links bringing them back to a Website. You could compare it to getting a letter delivered to your door versus running to the post office to pick it up.''
Schwab eConfirms delivers the trade confirmation directly to the customer's email account and is viewed like any other e-mail. Schwab's trade confirmations notify customers that their purchase or sale of each stock, mutual fund share, or other security has been executed.
''eConfirms allows for email confirmation delivery generally within 24 hours of trade execution,'' said Steve Cass, vice president, Operations. ''When you compare this turnaround time to the 3+ days the U.S. mail takes to deliver, it is quite convenient to the customer.''
Another key benefit eConfirms is that it gives customers the choice to receive confirmations in plain text or in HTML, a graphically rich format, so that they can access active links to other resources. In addition, customers can receive either individual confirmations for each trade or have them bundled, allowing them to receive confirmations for up to twenty trades that they may have placed that day. For the initial purchase of shares in a mutual fund, eConfirms include a Web link to an electronic prospectus for the fund that can then be saved, downloaded or printed, eliminating the need for a paper prospectus.
eConfirms is part of SchwabAlerts, the flagship email product suite of Schwab's fourth channel. SchwabAlerts can be accessed via the Alerts Tab in the Customer Center at www.Schwab.com. eConfirms is also available to clients of independent investment advisors doing business with Schwab through Schwab Institutional.
About Charles Schwab & Co.
Charles Schwab & Co., Inc. serves 6.2 million active accounts with $592 billion in customer assets. Schwab currently has 2.9 million active online accounts with $263 billion in customer assets. Schwab provides a full-service investing experience to customers through a multi-dimensional offering of the Internet, 310 branch offices, speech recognition and touch-tone telephone technologies, multilingual and international technologies, and direct access to professionals day or night.
Schwab has won numerous awards for its leadership in technology, including the Global Information Infrastructure Award for the Top Commerce site, the CIO 100 Award, PC World's 1999 World Class Award for the best Web Brokerage Site and has been recognized by Business 2.0 as one of the 100 Hottest Companies on the Net. Schwab has been a pioneer in online investing and has been a leader in customer technologies.
SOURCE: Charles Schwab & Co., Inc.
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