A few months ago, when I started investing in Treasuries, my broker charged a transaction fee of $54.95 to buy Treasuries at auction, with 20% off if I did it myself online. I can buy Treasuries at auction from a linked checking account for free, and I can use my brokerage checking as the linked account. Why pay a transaction fee when I don't have to?Other people must have figured that tip out too, because starting July 1, 2006 my broker's transaction fee will be zero for on-line purchases of Treasuries at auction, and only $25 if you need a broker's help. This tips the scales in favor of Schwab, because there are no account fees and Legacy Treasury Direct charges $25/year for large accounts.Vickifool
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