“ACH”: A quick,
convenient and secure way to transfer money electronically
If you’re looking for a simple and economical way
to transfer money into or out your brokerage and/or bank
accounts, you should consider establishing an ACH
profile. Unlike other methods of transferring funds,
"ACH" (Automated Clearing House) transactions
are free of charge* to you and offer many additional benefits:
- Paper checks are eliminated:
- Stop payments, requests for replacement checks,
delays in receiving checks by mail and the extensive
check clearing time process are avoided
- Money transfers are processed faster:
- Funds due to or from you for securities sales or
purchases can be sent immediately
- No more wire transfer fees:
- You’ll save money and avoid the hassle of
having to provide special instructions and/or letters
of authorization
- Fraudulent transactions are avoided:
- Since two financial institutions are involved (your
brokerage firm and your bank), the audit trail is
more effective than for checks and forged signatures
are eliminated.
- More choices in how and when to transfer funds:
- You can create a profile
that lets you decide the frequency and amount of funds
transfers into or out of your account
- Saving and investing are easier when you create
a schedule of periodic deposits to your brokerage
accounts and have the funds automatically withdrawn
from your bank account.
- If you rely on regular distributions, you’ll
have the assurance that your funds will be in your
bank account on the due date
*ACH returns (due to NSF or other conditions) may be assessed
a fee.
ACH Profile Options
Available to You
You have many choices in establishing your profile, which
identifies the type of ACH transactions allowed between
your brokerage account and external bank account(s).
These options include:
| ACH
"On Demand"
- Authorizing
a debit to the brokerage account on demand
- Authorizing
a credit to the brokerage account on demand
|
| Income
Driven ACH
- Automatically
remitting dividend and interest payments
|
| Trade
Related ACH
- Automatically
disbursing securities sale proceeds
- Automatically
"pulling in funds" to pay for securities
purchases
|
| Periodic
Receipts and Payments
- Automatically
"pulling in funds" according to a schedule
specified by you
- Automatically
disbursing funds according to a schedule specified
by you
|
Additional
Valet & Banking Services...
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