Check
Deposits
Do you accept money orders,
cashier's checks, or traveler's checks?
We
do not accept these types of checks, nor do we accept checks drawn on
lines of credit, checks drawn on lines of equity or official checks for
deposit to foreign accounts.
Do you accept third party checks?
We
do not accept third party checks which is any check that is drawn on an
account other than the one of the same name as the account holder or
any check that is not made payable to Penson Financial Services (our
clearing firm).
Where should I mail my check?
Penson Financial Services, Inc.
Attn: Banking and
Cashiering
1700 Pacifica Avenue, Suite 1400
Dallas, TX 75201
Be sure to reference your account number on the check.
When will my funds be available
to me?
Once
the check posts to the account, you will be required to wait 10
business days before the funds are available for withdrawal.
Can I use my check deposit to
trade in my account?
If the deposit is under $25,000, then you will have to wait one
business day before you can use the funds to trade.
If the deposit is greater than $25,000, then you will have to wait five
business days before you can use the funds to trade.
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