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Comment by nick222226 | Hacker News Reader

You do a wire transfer.

Yes, my point is that banks don’t make it clear that maxing out their ACH quotas will get your account frozen and that you should do a wire transfer. You shouldn’t have to learn this the hard way by getting your account frozen (which is very stressful when it happens to you for the first time), and banks should make it clear what you should do, which is my point

Whenever I've been moving amounts at that scale, I've already had a close working relationship with my bank as a natural side-effect of my business activities. As a result, I'd be doing those sorts of transfers by talking to my account manager at the bank.

I suspect that's the norm that banks are expecting.

It's a pretty niche problem though, so I guess not surprising they aren't great about communicating it (it probably was communicated, on page 30 of your agreement in small confusing text).

probably not communicated. Banks usually don't like to say: "your account will totally get frozen if you do this thing up to the limit of what we said you're allowed to do".

They like to keep the impression that account freezes are discretionary not automatic.

Ok with this context I understand what you are getting at.

For which they kindly charge you a fee

schwab doesn't charge a fee to wire from a brokerage account. by the way, there's no minimum balance or fees required to open an account with them. you pick up the phone, get connected with an intelligent person who understands exactly how to help you, and wire the money. usually you don't even wait for an agent.

I'm gonna sound like a shill, but 99% of the problems people are writing about in this thread would be solved by opening an account at schwab. unless you routinely deposit/withdraw large amounts of cash, there's no reason to waste time with other banks.

Thanks - good pointer!

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