An oldie but goodie that deserves eternal reposting... sending dividends to an external bank

"Dividend and Interest Electronic Payments - Stop making trips to the bank. Receive your dividends and other income payments via electronic funds transfer."

https://content.schwab.com/MARS-files/LPM50534.pdf

This form isn't widely discussed, probably because Schwab would like to keep all your dividends at Schwab... but you can set up EFTs to automatically send your dividends to an external bank via ACH.

I just set it up, and my iShares SGOV and IEF bond ETF dividends appeared at my bank the day after the dividends appeared at Schwab. I'm very happy.

Because I'm going to retire soon, it makes no sense for taxable dividends to be invested, I might as well eat them immediately!