Q&A: What is the difference between Money direct and Wiring money on Scott Trade?
Question by Jonathan: What is the difference between Money direct and Wiring money on Scott Trade?
I am new to Investing, and I just opened a Scott Trade account. I am in college and do not know a lot about banks and financial things, but I want to learn.
Is there a difference between money direct and wiring money to scott trade? I have Bank of America.
Does wiring money cost anything. I saw that money direct costs $ 20.
Answer by M R
Unless Scottrade has changed its policies, there is no charge to use Money Direct. There is a charge for wire transfers, both by Scottrade and perhaps by your bank.
Call Scottrade’s toll-free# to ask them directly.
Congratulations on getting started investing. Don’t let these downturns in the markets scare you, they are part of bull & bear cycles. Be patient and educate yourself.
Best wishes for profitable investing.
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