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Non-Tech : Datek Brokerage $9.95 a trade
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To: clochard who wrote (4797)9/21/1997 12:03:00 AM
From: Randall Thomas   of 16892
 
<<Let the people who want to write checks go to PCFN and let Datek remain a real trader's brokerage.>>

As strange as this may sound to you, people who trade stocks for a living write checks too. Many of them actually withdraw money from their brokerage accounts to survive with, since that is their only source of income, and it would be difficult to get by trading and doing very well in the market but not pulling out money to take care of the incidentals, such as food and shelter. Could you help me understand what a 'real trader' is, and why a real trader wouldn't want to just write a check from his datek account to his checking account when he needs to pull out funds? Datek is clearly incompetent and unconcerned with disbursion of customer's funds (and they earn interest off the kite period between debiting of the account and 1)mailing of the check until 2)receipt and deposit of the check by account holder.) They are the only brokerage I have ever used that does not either offer simple, hassle-free wire-transfer same day or checkwriting.
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