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Non-Tech : Charles Schwab (SCH) -- A tech-stock profile?
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To: Al Cano who wrote (611)5/31/1999 4:01:00 PM
From: stock_bull69  Read Replies (1) of 1390
 
Found this interesting post on the Raging Bull thread:

Schwab Future
These guys are starting to wake-up and capture more mind-share with MySchwab partnership with Excite. Furthermore, I having both E-Trade, Schwab and Traditional bank accounts now have an opportunity with Schwab to manage a checking account/ATM without any ATM or checking fees regardless of which machines or how many checks I write -- it is a separate account from the SchwabOne. Even my bank charges for ATM purchases, non-branch ATM fees and on-line bill paying even though I'm a big depositor. I'm moving all my bill-paying and checking/ATM to Schwab to save a couple hundred dollars a year in fees.

My hunch is that we'll see Schwab leverage this channel with other financial services in the near future and thus expand the revenue/profit base and increase funds under their control.

They are making money, many other Online brokerages are still in build-out and are fighting for market share...the traditional banking institutions are light years behind being able to offer what Schwab can under a single roof. This is a better bet than the rest.

IMO, Schwab will continue to deliver the profits and expand market share in other profitable areas of financial services.

EOM

P.S. Schwab requires a minimum starting balance of $5000 to open up the Access Account.
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