Question:

How to buy stocks without savings or checking account?

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How to buy stocks without savings or checking account?

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  1. You don't need a savings or checking account to buy stocks, but if you don't even have a savings or checking account you have no business buying stocks.


  2. The brokerage will not take cash, so you need to transfer money from the account where you have money to your brokerage account.  Usually, this is done by check or by wire.  If the brokerage account is at the same institution where you have money, they can move it directly.  If you literally just have a pile of cash, you need to take it to the bank and open an account.  Cash transfers over $10,000 have to be reported to the government.

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