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Opening and Managing a Charles Schwab Self-Directed Investment Account

This page provides information about Charles Schwab Self-Directed Brokerage Accounts and provides information about opening and managing a Charles Schwab Self-Directed Brokerage Account with funds from your HSA.

The Schwab Self-directed Brokerage account

The Charles Schwab Self-directed Brokerage account is an online investment account Further offers through Charles Schwab & Company.  

Eligible investments include stocks, bonds, mutual funds, ETFs, and a variety of other investments on the Schwab trading platform. 

Customer support for the Schwab Self-directed Brokerage account

Contact Further customer service at 1-800-859-2144 for support regarding the setup and management of the Schwab brokerage investment account. Charles Schwab does not offer health care spending accounts and will not be able to answer your questions.

However, Charles Schwab is able to provide information related to the investments that they offer.

Opening and funding a Schwab Self-directed Brokerage account

Requirements

A member must have a Basic Investment account with a balance of at least $10,000 to open a Schwab Self-directed Brokerage Account.

See Opening and Managing a Basic Investment account for more information about opening and transferring money into a Basic Investment account.

Create a Schwab Self-Directed Brokerage Account

  1. Sign in at www.hellofurther.com.
  2. In the My Accounts section, locate your HSA in your list of accounts.
  3. Click View Account.
  4. Locate the Investments section of the account page by scrolling past the Recent Activity section.
  5. Click Visit Investment Site. The investment site will be displayed.
  6. On the investment site, click the Planning Tools menu and choose Schwab Self-directed Brokerage Account.
  7. Follow the onscreen instructions to enroll. You will receive an 8-digit Schwab account number. Save this number because it will be needed later.
  8. Visit http://www.schwab.com.
  9. Click the First Time Users link and follow the onscreen instructions to create your user account. You will need your social security number and the 8-digit Schwab account number for this step.

    Note: Schwab may change the design and functionality of their website at any time.  

Allow one full business day after completing the application process. After a full business day, your account will be available to accept the transfer of funds.

Verify that your Schwab self-directed brokerage account has been set up

  1. Sign in at www.hellofurther.com.
  2. In the My Accounts section, locate your HSA in your list of accounts.
  3. Click View Account.
  4. Locate the Investments section of the account page by scrolling past the Recent Activity section.
  5. Click Visit Investment Site. The investment site will be displayed.
  6. Click the Account Summary menu and choose Account Profile.
  7. Verify that your Schwab self-directed brokerage account number is listed on the Account Profile page.

Make the first transfer of funds to the Schwab Self-Directed Brokerage Account

  1. Sign in at www.hellofurther.com.
  2. In the My Accounts section, locate your HSA in your list of accounts.
  3. Click View Account.
  4. Locate the Investments section of the account page by scrolling past the Recent Activity section.
  5. Click Visit Investment Site. The investment site will be displayed.
  6. Click the Manage Investments menu and choose Transfer Between Investments.
  7. Follow the on-screen instructions to choose the mutual fund that you wish to transfer funds from.
  8. Click Continue.
  9. On the next screen, select Self-directed Brokerage Acct in the To: Fund Name column.
  10. Click Transfer.

Your elections will be deposited into the money market fund by default unless you chose your future investment elections during the setup process.

Allow two to three business days for funds to be transferred to the Schwab Self-Directed Brokerage Account.  Once this process has been completed, your account can be accessed by logging into http://www.schwab.com.

Transferring funds

Transferring funds from your HSA to Schwab self-directed brokerage account

  1. Sign in at www.hellofurther.com.
  2. In the My Accounts section, locate your HSA in your list of accounts.
  3. Click View Account.
  4. Locate the Investments section of the account page by scrolling past the Recent Activity section.
  5. Click Visit Investment Site. The investment site will be displayed.
  6. Click the Manage Investments menu and choose Transfer Between Investments.
  7. Follow the on-screen instructions to choose the mutual fund that you wish to transfer funds from.
  8. Click Continue.
  9. On the next screen, select Self-directed Brokerage Acct in the To: Fund Name column.
  10. Click Transfer.

Transferring from Schwab self-directed brokerage account to HSA

Should you need to withdraw dollars from your Schwab account to pay for medical expenses, you will need to liquidate securities to cover the dollar amount you wish to withdraw from the account.

Liquidate Funds on Schwab.com

To make funds available for transfer back to your HSA, you must do at least one of the following on http://www.schwab.com:

  1. Sell a portion of your holdings to move the funds into a cash position
  2. Transfer funds to a money market.

 Transfer funds on the investment site

  1. Sign in at www.hellofurther.com.
  2. In the My Accounts section, locate your HSA in your list of accounts.
  3. Click View Account.
  4. Locate the Investments section of the account page by scrolling past the Recent Activity section.
  5. Click Visit Investment Site. The investment site will be displayed.
  6. Click the Plan Services menu and choose Transfer to Base Balance.
  7. Enter the amount to transfer to your HSA.
  8. Click Submit.

This process can take up to 3-4 business days to complete.

Using the Investment Site 

Learn more about using the Investment Site by visiting HSA Investment Website Resources & Tutorials.

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