Narrator: Looking to remove margin access on your account? Requests to remove margin access can be taken verbally by calling in to speak with a Schwab representative, or in written form. If you would rather submit the request in writing, you may do so using the margin application form.
To begin, select Support, then select Forms & Applications.
Support, then Forms & Applications is selected.
Narrator: Navigate to Update your Schwab or Schwab One Account to open the proper form. From here, you’ll be able to make other desired updates to your Schwab account.
Update your Schwab or Schwab One Account is selected.
Narrator: Next, scroll down to the Add Margin section of the form. Select Remove the margin feature from my Schwab One account. Carefully review the information entered on the form and read the disclosures before printing the form. Note that the form must be physically printed and signed with a wet signature.
Remove the margin feature from my Schwab One account is selected.
Narrator: Any existing margin loans or margin balance must be closed before you can remove margin access. If you currently have spread or uncovered short options approval, the options level must first be downgraded to the long approval level to remove margin from your account. For assistance with these steps, call customer support at 877-870-7317.
Phone number appears
Narrator: Once you have printed and signed the form, return it to Schwab via fax, mail, any Schwab branch, or the Online Message Center. Note that once the account becomes a cash account, it is subject to settlement rules and potential violations associated with trading on unsettled funds in a cash account.
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Remove margin access from your account on Schwab.com