My employer deposits my check using direct deposit, into my checking account. I'd like to have the money deposited the same way into my Schwab brokerage account instead. I've found my account and routing numbers for Schwab. Are there any rules (tax implications or anything else) that make direct deposit to a brokerage account a bad idea?
Also, my employer's system asks if this is a checking or savings account. It is neither - is there any reason choosing 'checking' won't work?