Account Funding Options
Select your preferred method
- Wire Transfer
- Electronic Transfer (ACH)
- Check
- Account Transfer
- Stock Certificate
Wires must be sent to same-titled accounts. No third party wires may be processed.
Domestic JP Morgan Chase Bank |
International Chase Manhattan Bank, NYC |
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Set up incoming or outgoing electronic funds transfer (ACH) between bank and brokerage accounts, including automatic contributions to your IRA. Transfers can be made on demand or on a recurring basis.
Check, wire and incoming/outgoing ACH requests may be placed online after logging into your account. Requests placed prior to 2:00 PM EST will be processed the same business day. Requests for overnight delivery incur a $20.00 charge.
ACH deposits are not instantaneous and can take 1-3 days to post to your account. Additionally, ACH deposits will be held for 3 business days if the amount exceeds the equity in your account. If you want to trade immediately, we suggest funding your account via wire transfer. Call 1-800-498-7120 for assistance.
- The daily limit for an incoming ACH transfer is $10,000 and $50,000 for an outgoing ACH transfer.
- Same to same outgoing wire requests are limited to $50,000 per day.
- Wire requests over $50,000 are not available for online processing and require a notarized Wire Request Form. IRA distribution requests require an IRA Distribution Form.
- We do not allow third party disbursements.
To utilize ACH, you must complete and return an Authorization for Electronic Transfer Form form, including a voided check or bank letter. From receipt of your ACH authorization, activation may take up to 10 business days. Mail to:
Investrade Discount Securities
Attn: Customer Service
950 Milwaukee Ave., Ste. 102
Glenview, IL 60025.
Payroll Direct Deposit
Submit a voided check to your employer along with your completed Direct Deposit Form. The Direct Deposit Form must be mailed to: Reich & Tang Funds Attn: Client Interface Dept. 1411 Broadway, 28th Floor New York, NY 10018-3450 If you need assistance call 1-800-433-1918.
- Money orders, third party checks, credit card checks, home equity line checks and starter checks are not accepted.
- Make all checks payable to Penson Financial Services, Inc.
- Mail checks to Investrade Discount Securities, Attn: Customer Service, 950 Milwaukee Ave., Ste. 102, Glenview, IL 60025.
- IRA contributions made by check require an IRA Deposit Slip.
- All checks, including certified and cashier's checks require a minimum of 3 business days to become available for investing.
- Cashier's checks must have the remitter's name electronically printed directly on the check by the issuing bank.
Transfer an existing account from another brokerage firm.
Full, automated customer account transfers (ACAT), will typically take 7 to 10 business days. A non-ACAT (partial transfer) or manual transfer may take up to 3 weeks to complete.
Download an Account Transfer Form
To endorse stock certificates over to Investrade Discount Securities:
- On the back of the stock certificate, enter Penson Financial Services, Inc. as the attorney to transfer the stock.
- Each person registered on the stock certificate must sign the back exactly as printed on the front, including initials, suffix, etc.
- Date the certificate.
If you have any questions regarding stock certificates, please call customer service at 1-800-498-7120.
Special Offer:
Wire Transfer Rebate for New Accounts
Incoming wire transfers of $10,000 or more may be reimbursed wire transfer fees up to $30.00. This offer excludes all retirement accounts. To receive your rebate, please submit proof of wire fee to customer service via fax, email or US mail. Your account must remain open and funded for at least 30 days before your rebate is posted to your account.
Depositing Funds and Securities
Funds and securities are required in advance. Sufficient buying power or cleared funds are required before any buy order can be accepted. Cleared securities must be in your account before any sell order will be accepted.
Account processing will occur within one (1) business day after receipt of account paperwork. Once your account has been approved, cleared funds are required to begin trading. All checks including certified and cashier’s checks require three (3) business days before the funds are available for investing.
