did my savings account become a brokerage account?

[BananaBandit]

Anyone else have this experience?

 

I just noticed my Charles Schwab accounts page says I have a "brokerage" account. 

 

I thought it was a "savings" account. 

 

I'm no financial whiz, but I think I would have noticed at some point over the years if my savings account said "brokerage."

 

So I suspect this "brokerage" thing is a new development. 

 

I didn't try to make any investments or anything. I don't understand why it would change suddenly. 

 

Does it matter?

[KhunLA]

Do you read all your terms of agreement amendments when sent out.  Top to bottom, completely, all those fine print notices you receive.

 

I never do.  Does make sense to have all accounts as brokerage accounts.  Use or don't, surely over the years, they've learned to conserve server & storage space.  Lower cost for them, low fees for you....win win.