The short answer
The registry records Charles Schwab Cash Sweep & Transfer as a possible interpretation of SCHWAB* BROKERAGE SWEEP. This descriptor-to-company association has not passed claim-level evidence review. Compare the exact line, amount and posted status with your own receipt or account activity; the name alone cannot confirm the merchant or whether you authorized the payment.
What do the parts of SCHWAB* BROKERAGE SWEEP mean?
- SCHWAB * BROKERAGE SWEEP
- Before the asterisk, "SCHWAB" usually names the platform or parent company. After it, "BROKERAGE SWEEP" usually names the product, store or order. How descriptors work →
The notes below are unreviewed registry explanations, not confirmation of merchant identity, authorization or current policy. Claim-level source review is pending for this entry.
Charles Schwab Cash Sweep Functionality
Unreviewed registry note: This transfer appears on your account statement because uninvested cash in your brokerage portfolio automatically sweeps into interest-bearing FDIC-insured deposit accounts, or conversely, funds sweep from your investment holdings to cover debit card purchases, check clearings, wire transfers, or ATM withdrawals when your checking cash balance is insufficient to settle the transaction.
- Unreviewed registry note: Automatic transfer of uninvested cash to earn interest in deposit accounts
- Unreviewed registry note: Automated sweep from brokerage cash to cover a checking account debit or debit card charge
- Unreviewed registry note: Dividend or interest payout routed between investment accounts
Reviewing Schwab Account Transfers
Unreviewed registry note: Track detailed sweep histories and money movements on the Schwab platform.
- Unreviewed registry note: Sign in to schwab.com or the Schwab Mobile app.
- Unreviewed registry note: Go to "Accounts" → "History".
- Unreviewed registry note: Filter by "Transfers & Payments" to examine the source and destination account numbers.
Frequently Asked Questions
Does Schwab charge fees for brokerage cash sweeps?
Unreviewed registry note: Charles Schwab provides automatic sweep features for linked checking and brokerage accounts with zero transfer fees.
Part of a family
SCHWAB* BROKERAGE SWEEP is one of the Charles Schwab statement codes and Fidelity Investments statement codes registry groups. A shared group does not establish who billed your transaction.
Independent reference — not affiliated with The Charles Schwab Corporation. Billing names and policies change; verify with the merchant or your bank before acting.
Sources and evidence
Sources may support different parts of this page. A company homepage does not establish a statement descriptor, refund policy or contact detail. Check the claim notes and your own receipt before acting.
- Charles Schwab Bank Account Disclosures https://www.schwab.com
- SEC Cash Sweep Account Rules https://www.sec.gov
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