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Transfer cash from Bank account to Investment account

Richard Roberts

I wish to move cash from my bank account (USBank checking) to a Schwab Investment account (for cash management) within Quicken. Both US Bank and Schwab accounts are connected in my Quicken Premier (R31.20) for downloads and online updates.
When I select "online transfer" in my US Bank checking account, I only get account options for "transfer-in" from US Bank, and I do not have the option to transfer to my Schwab account. I did try to "add" the Schwab account in the dialog box (add an account), but of course, the account was already recognized as an account in Quicken, but not as an option to transfer into. Is there a way to do this within Quicken? Otherwise I can have my investment broker arrange to ACH money from my USBank checking into the Schwab account.
Thanks for help.

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Comments

GeoffG

Quicken does not provide for inter-institution transfers. You need to initiate a transfer from Schwab to/from your bank.
Depending on Schwab's capability, you may be able to setup repeating withdrawals from you bank for a set period and amount. I do not use Schwab, but with Vanguard I've setup recurring monthly transfers from my bank. I've setup reminders in Quicken to mirror those transfers.

Richard Roberts

Thanks GeoffG. I suspected that would be the case.

This will not be a repeat transfer, but only an episodic transfer which I will be able to do from Schwab or my bank. I simply wanted to see if I could do it through Quicken, which would save time/effort, but I see that won't be possible.

Thanks for your information and insight!

Tom Young

IF your bank supports an online bill payment feature and that feature works with Quicken (e.g., Chase) THEN you could execute that transfer of funds directly withing Quicken.

But most banks don't allow for that.