Investment Account Types - Brokerage, Retirement and Bank

Scottrade Account Types

Scottrade offers a full line of investment and banking accounts to suit your investing objectives and money management needs. Most accounts can be opened online, although some require completion of physical forms. Contact your local branch if you need assistance.

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  • Brokerage Accounts
  • Banking Accounts

    You must have a Scottrade brokerage account to open a Scottrade Bank account.

    Checking

    Get all the convenient features you expect, including a free ATM/Debit Card with free withdrawals*, free standard checks and online bill pay, easy fund transfers, overdraft protection and the convenience of direct deposit, with the added benefit of an interest-bearing account. Apply Now

    Savings**

    Earn interest while you save for a special purchase or unexpected expense with the added convenience of direct deposit and easily managed fund transfers between your brokerage and bank accounts. Apply Now

    Money Market**

    Get the most out of online banking with an interest-bearing Scottrade Money Market account that makes it easier to manage your money, helping you to achieve your investing and cash flow objectives. Apply Now

    CDs

    Invest in a Scottrade Certificate of Deposit with confidence – if our interest rate increases within 10 calendar days of opening, we will give you the higher rate for the full term of your CD. Apply Now

    *Scottrade Bank does not issue a charge for cash withdrawals made at any domestic ATM. We will refund all reasonable cash withdrawal fees applied to your account by a domestic U.S. ATM at the end of each statement cycle. The rebate will appear as a lump-sum credit on the same statement that incurred the initial ATM fees. If you close your account before the end of the statement period, you will not receive a refund. Scottrade Bank makes its best effort to identify those ATM fees eligible for refund. In the event that you do not receive a refund, please contact your local Scottrade brokerage branch office. We reserve the right to terminate or limit reimbursements if we observe a pattern of fraud or abusive overuse, and to modify or discontinue the ATM fee refund program at any time.

    **Federal law limits the number of certain withdrawals on any savings account or money market account to 6 per month. Withdrawals at ATMs and in person at a bank branch are not subject to federal limits.

  • Retirement Accounts

    Traditional IRA

    Retirement Savings Account for one person. This investment savings account provides tax-deferred growth and potentially tax-deductible contributions. This account is eligible for Money Direct® instant funding. At least one beneficiary must be assigned when opening this account. Apply Now

    Roth IRA

    Retirement Savings Account for one person. This investment savings account provides potential tax-free withdrawals after a certain retirement age as defined by current laws. This account is eligible for Money Direct® instant funding. At least one beneficiary must be assigned when opening this account. Apply Now

    Rollover IRA

    Retirement Savings Account for one person. This investment savings account is specifically designed to receive transfers from a previous retirement plan. At least one beneficiary must be assigned when opening this account. Apply Now

    SEP IRA

    Simplified Employee Pension Account for self-employed and small business. Please consult your accountant for the tax advantages associated with this account. This account is eligible for Money Direct® instant funding. Apply Now

    SIMPLE IRA

    SIMPLE Account for self-employed and small businesses. Please consult your accountant for the tax advantages associated with this account. Learn More

  • Custodial/Guardian Accounts

    Coverdell Education Savings Account

    It is never too early to start saving for a child’s future educational needs, and the Coverdell Educational Savings Account (ESA) offers a number of benefits client’s may want to consider when evaluating investment options for a minor. This ESA has tax-deferred earnings for qualified education expenses. This education savings account may be used to provide for the primary, secondary or college education costs of one designated beneficiary. Only special needs beneficiaries may receive contributions after age 18. Apply Now

    Guardianship

    An investment account established by a Guardian may help to provide future financial security for a minor through investing opportunities not possible in other accounts. This account type allows a court-appointed guardian to manage the assets for the benefit of another. A Letter of Court Appointment (dated within 12 months) is required to open this account. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now

    Custodial

    A Custodial account offers a unique opportunity to teach a minor the ins and outs of stock trading, and the importance of financial planning, while ensuring adult oversight. These accounts allow an individual custodian, not a trust or legal entity, to open, fund and manage an account with trade authority for the benefit of a minor under the Uniform Gifts to Minors Act. Custodial accounts have certain restrictions, and both the minor and custodian should be listed on the application. Apply Now

    Conservatorship

    Managing the investment portfolio of a minor or special-needs adult is a unique challenge that a Conservator account may help alleviate, as it allows a court-appointed Conservator to manage the assets for the benefit of another. A Letter of Court Appointment (dated within 12 months) is required to open a Conservator account. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now

  • Specialty Accounts

    Trust Account (Testamentary)

    A testamentary trust is created through the will of a deceased person. Securities are registered in the name of the trust and managed by a trustee for the benefit of another person(s). A Trust Account Certification is required to open this account. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now

    Trust Account (Non-Testamentary)

    A non-testamentary trust will generally have a living grantor(s). Securities are registered in the name of the trust and managed by a trustee for the benefit of another person(s). A Trust Account Certification is required to open this account. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now

    Keogh / 401(k) / Money Purchase / Profit Sharing / Pension Plan

    Defined Benefit plans designed for the employees of a company. A Qualified Plan Certification Form is required to open this account. Additional forms may also be required. Apply Now

  • Business Accounts

    Investment Club

    A brokerage account that is owned by a group of people who pool their assets and make joint investment decisions. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now

    Corporate

    A business account for Corporations. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now

    Partnership / Limited Partnership

    A business account for Partnerships and Limited Partnerships. Only General Partners can trade in a Limited Partnership Account. Applicants can submit information online, but will have to contact their local branch office to complete the process. Apply Now

    Sole Proprietorship

    A business account for a natural person doing business in his/her own name. Supporting documentation will be required for this account. Apply Now

    Limited Liability Company (LLC)

    A business account for Limited Liability Corporations. Supporting documentation will be required to apply for this account. Apply Now

    Association or Non-Corporate Organization

    A business account for Associations and Non-Corporate organizations. Supporting documentation will be required to apply for this account.  Apply Now

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