OT - Cash liquidity

I'm surprised I never put this on the board as something that might be useful. Guess I figured that those here aren't in a stance where a lot of their funds are liquid. To my knowledge: Schwab is the only brokerage that doesn't require that your funds be at their brokerage in order to make a stock buy. The short story is this: Whatever cash you may have at a bank or money market at another institution, the ACH transfer system that you set up with Schwab becomes, essentially a same-day transaction, even though their 3 day 'wait' period supposedly means that the funds received don't clear until that time period is over. If you're trading options, I'm not quite sure how that works, given that rather then 3 days to settlement it needs to be paid on the day of the order, because I only trade covered calls, and that nets me $ rather than spends it. But I think Schwab's rules might still apply with a 1 day 'hold' on ach funds. Not certain. 

OTOH, this is probably not big news, as if one goes on margin and the 3 day wait period applies, the interest is probably fairly negligible, I'd think. But if the cash is in a bank that pays 1% APR, it might be worth it. 1 year CD rates are probably within range of that 1%. Your mileage may vary.