Schwab Bank Deactivation?

Paddy

Because Schwab Bank has problems right now, can I deactivate it and reactivate after the problem is resolved? Will deactivation Schwab Bank deactivate brokerage accounts?

Quicken Kristina

Hello @Paddy,

To answer your question, since deactivating is done by account rather than by financial institution, you can backup your Quicken file and deactivate the problem accounts without deactivating the other accounts. One exception to this is if the problem accounts are linked checking accounts.

In that case, since the checking accounts are linked to the brokerage accounts, you cannot deactivate them without deactivating the brokerage accounts they're linked to.

Linked checking accounts will typically be named with the name of the brokerage account - cash. If you navigate to Tools>Account List and click the Edit button next to the account, on the General tab, it will also show the account type as Linked Checking Account.

I hope this helps!