Features & Services Section

Articles related to account features 

This page will provide you with helpful information about Schwab Bill Pay®, paperless documents, pledged asset accounts and more. Click on a link below to view a specific article.

Introduction to Schwab BillPay®
Schwab BillPay is an electronic bill payment service available to Schwab One® account holders. BillPay allows clients to electronically receive bills and initiate payments to nearly anyone in the U.S. to whom they would write a check.

How to set up the Schwab BillPay® service
Schwab BillPay is an electronic bill payment service available to Schwab One® account holders. Your clients can enroll in Schwab BillPay by completing the necessary forms or enrolling online.

How to add features to an account
After opening an account, your client may want to add features and functionality. You can add various account and payment features to your client's account by using DocuSign® or a guided workflow on Schwab Advisor Center.

Introduction to margin
The margin feature allows an account holder to borrow funds using their own securities as collateral. The borrowed funds may be used for any purpose, including purchasing more securities, diversifying a portfolio, paying off higher interest loans, or meeting other personal or business financing needs.

Introduction to aggregate margin
Aggregate margin is a feature allowing your client with multiple identically registered accounts, to use the combined value of the accounts when calculating margin, all while holding the margin debit separately in one account.

Introduction to pledged asset accounts
A pledged asset account broker-dealer (PAABD), also known as a collateral account, is an account in which your client enters into an agreement with another financial institution to pledge their Schwab brokerage account assets as collateral for a loan from that institution.

Introduction to options trading
An option is a contract giving the owner the right, but not the obligation, to buy or sell the underlying instrument at a specified price for a specified period of time.

Unlike shares of stock, an option does not represent ownership in the underlying company. An option represents the potential for change in ownership, but it must be exercised to make that happen.

Introduction to Schwab One® Visa® Platinum Debit Card
The Schwab One Visa Platinum Debit Card has no annual fee and is available only to Schwab One account holders. It can be used to make debit purchases anywhere Visa is accepted and to withdraw cash at ATMs worldwide.

Introduction to Bank Sweep feature
With the Bank Sweep feature, free credit balances are swept from a client’s brokerage account to one or more Schwab-affiliated banks to earn interest.

Introduction to Limited Margin
Limited Margin is an IRA feature that offers some of the benefits of a margin account. It allows trading on unsettled funds, and if the account is approved for the required level of options trading, also allows for trading option spreads.

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