Posts Tagged ‘Charles Schwab’

My two cents’ worth

August 9, 2017

Before the Great Recession hit, in 2008, I dabbled in the stock market. Not very successfully: I though I had scored a coup when I sold Netflix in 2007 after a 15% gain (my stock would have appreciated forty-fold if I still had it). But I thought I would try — nearly everyone did.

Once I realized that the financial advisers to whom I had been paying a fee, win or lose, did not provide any more wisdom than tossing a coin, I decided to do my investing online, and I opened an account at Charles Schwab. When I got rid of the stock I had held (mostly at a loss) I opened what was billed as a “high-yield” savings account. The label stuck to the account as the yield dropped. Meanwhile I noticed that there were online banks paying considerably higher interest. So I closed my Schwab accounts, or thought that I had.

It turned out that, at the time I closed the accounts, there was some accrued interest that had not yet been paid into the account. The amount? $0.02. Yes, two cents. And I received a check for that amount.

I didn’t bother depositing the check but kept it around as a novelty. I didn’t think it would matter.

But matter it did. Since the check had not been cashed in 180 days, I received a letter telling me that it had expired, and, in a separate envelope, another check.

check

In the interest of not wasting paper and ink, I will deposit this one.

Advertisements