I want to mention that, typically, if you are a new immigrant, most US brokerages won't serve you because you are not considered a US person in tax; of course, smaller banks won't either, mostly because they won't bother to prepare a different tax form for you; you can only use a bank within that period. But after you become a US person, you have far more choices.<p>Usually, transfer is also more difficult with a brokerage than a bank; correct me if I was wrong: a) brokerage follows a previous T+3 settlement, now T+1, some banks offer a faster settlement, especially if Zelle is directly available; and b) while doing international wire, the bank is considered a viable target, but brokerage don't, a broker has to use their account opened at a bank, it could be cheaper, but there is more hassle (e.g., some government would allow this for non-business purpose).<p>But if you are just parking money, these brokerages offer a much better deal; many even offer to reimburse your ATM cost.