What is a MoneyLink or Standing Payment Instructions Form? Why do I need to link my bank account to my investment account?

A MoneyLink Form from Charles Schwab and a Standing Payment Instructions Form from Fidelity allows us to link your bank account to your investment account. This allows us to send you cash from your investment account when you need it, under normal circumstances you’ll receive the funds on the next business day. We can also pull money into your investment accounts if you’re making a retirement contribution or investing cash in a taxable, brokerage account. We are not able to set up the connections on your behalf, only you can determine the accounts to or from which money can be transferred.