I have in general been very happy with Fidelity - my current accounts there are a cash management account, brokerage account x 2, HSA, 529 x 3, and individual Roth IRAs for my wife and me. Since my 401k is not there I'm not a seven-figure client at Fidelity yet but I easily could be in the future. When I first opened my cash management account (it's just like a checking account but at a brokerage firm) it was taking 6 business days for cash to settle. I was told this is common for new accounts. Almost exactly 2 months after opening the account the time to settle reduced to 2-3 days. This was perfectly acceptable. Out of nowhere for the past month, my check deposits are again taking 6 business days to settle. I have a single-member LLC and so I do not use payroll and do not have access to direct deposit. When I asked Fidelity why I just get the standard answer that check deposits take 2-6 business days with no ability to tell me why it increased. I want to pay some bills today but my deposit made on 5/23 won't be available until 5/31 and I'm getting tired of the unpredictability.
My deposits can be anywhere between a few thousand to $20k. Does anyone use Schwab for checking? Can anyone comment on fund availability? I have no issue with 2-3 days but 6 days is excessive and I hate that it's been 2-3 days for over a year and then randomly going back to 6 days. If Schwab checking is better I'm inclined to just move everything (other than the HSA because they don't offer it) to Schwab.
My deposits can be anywhere between a few thousand to $20k. Does anyone use Schwab for checking? Can anyone comment on fund availability? I have no issue with 2-3 days but 6 days is excessive and I hate that it's been 2-3 days for over a year and then randomly going back to 6 days. If Schwab checking is better I'm inclined to just move everything (other than the HSA because they don't offer it) to Schwab.