When money sits idle, it loses its earning power through inflation. With an Advantage Account, your cash is always working for you.
An Advantage Account incorporates all the financial services you need to develop and maintain a successful financial plan. By offering many of the convenient features of banking — including check writing and a Visa® Gold Check Card/ATM card1 — this personal cash management program lets you take a comprehensive approach to managing your investments, your retirement savings and even your everyday household expenses.
The Advantage Account is based on the concept of continual investment. Here’s how it works:
Your cash, when not invested in stocks or other securities, is invested in one of several sweep options — whichever one you choose. Every day your dividends, interest and excess cash are swept down to the penny and reinvested — automatically.
Each month, you’ll receive an easy-to-follow statement that recaps all account activity, including your securities positions, buy and sell activity, interest and dividend credits and margin activity. The statement will also include all cash transactions from check writing to check card use.
Your Advantage Account statement will also include a complete listing of realized and unrealized gains and losses. This will help save time and money at tax time.4
There are no monthly interest charges on purchases made with your Visa Gold Check Card. Purchases made with the card will be debited from the account. Lost cards can be replaced within 24 hours.
Additional Travel Benefits with Visa Gold
Your Visa Gold card allows you access to cash from your Advantage Account through more than 500,000 Visa® ATMs throughout the world and cash advances through Visa member banks. The processing bank may assess a transaction fee.
Your Advantage Account works just like a checking account, but your cash is always invested and working for you. Access your cash at your convenience through unlimited, no-minimum check writing. It’s easy to track your expenses by checking off a category box on each Advantage check. The codes are printed on your monthly statements.
One of the most time-saving features of the Advantage Account is our Online BillPay Service. This feature allows you to pay anyone in the United States, 24 hours a day, seven days a week. With Online BillPay, you can eliminate the monthly tasks of writing checks, buying stamps and worrying about mailing your payment on time. You can give your payment instructions via the Internet.
Whether you deposit all or part of your paycheck, your Advantage Account puts your money to work for you right away — before you find other ways to spend it.
Your account can automatically send out up to five regular payments per month, making obligations such as your mortgage and insurance premiums hassle-free.
A margin credit line5 is available and is limited only by the marginable value of your securities. You can access margin credit by writing a check or buying securities. Amounts not available for payment in cash or money-market funds are automatically drawn from your account up to your available limit. Any outstanding loan balance will be reduced as cash enters your account.
An indispensable tool when preparing your taxes, your 1099 forms are included, as well as annual summaries of deposits, withdrawals and year-end portfolio values. To open an Advantage Account, you must have $5,000 in cash or marketable securities (cash minimum $1,000). Enjoy better control of your finances and see the rewards of keeping your money working for you.
Accounts carried by Wells Fargo Clearing Services, LLC, member NYSE/SIPC.