There are two ways to contribute stock from Schwab. Choose one. Doing both can send your shares twice.
Option | Who sends the transfer | Best for |
Option 1: Start from Daffy | Daffy submits your signed form to Schwab | Most individual accounts |
Option 2: Start from Schwab | You submit it to Schwab yourself | Joint accounts, or if you prefer to start at Schwab (How do I send stock from Schwab myself?) |
Before you start
You will need:
Your Schwab account number
The ticker and number of shares you're contributing
The cost basis of those shares (record it now because Schwab may not keep that information after the transfer)
Your choice of immediate or custom liquidation (Does Daffy sell my stock after I contribute it?)
The signature Schwab has on file for your account
Option 1: How do I contribute stock from Schwab through Daffy?
In Daffy, go to Add Funds > Stocks, ETFs, & Mutual Funds > Schwab and enter the details of your contribution. This form also serves as your stock intent.
Sign electronically using the same signature Schwab has on file. If the signatures don't match, Schwab may reject the transfer.
Click or tap Save Signature. Daffy sends the completed form to Schwab for you.
You don't need to log into Schwab to start the transfer. Daffy has already submitted it.
Option 2: How do I start the transfer from Schwab myself?
If you have a joint Schwab account, or prefer to start the transfer at Schwab, follow How do I send stock from Schwab myself?
What happens after I submit?
When your shares arrive, Daffy notifies you and attributes them to your fund. Daffy can't see the status of your transfer once it's submitted. If it's been more than 7 business days and you don't see your shares in your Daffy fund, contact Schwab's support team.
Cost basis
Record your cost basis before you transfer the shares. Daffy does not have access to cost basis information.
Frequently Asked Questions
Can I use Option 1 for a joint account?
No. Use Option 2 for joint Schwab accounts. You must submit the transfer to Schwab yourself.
What if Schwab rejects the transfer?
Check that your e-signature matches the one Schwab has on file and that the account and share details are correct. Then contact support@daffy.org with the reason Schwab gave.