For anyone who has TDAmeritrade as their broker, are you able to electronically transfer funds each month to your account? Their 'deposit slip' form presumes one is mailing them funds.
Bob Lunch Money Investment Club
Norman Gee on
All of our members use bill pay to fund their payments to the brokerage
For anyone who has TDAmeritrade as their broker, are you able to electronically transfer funds each month to your account? Their 'deposit slip' form presumes one is mailing them funds.
Bob Lunch Money Investment Club
Rg R on
Yes, We are able to send funds to TDA using (bill pay) from our banks and credit union with no problems.
For anyone who has TDAmeritrade as their broker, are you able to electronically transfer funds each month to your account? Their 'deposit slip' form presumes one is mailing them funds.
Bob Lunch Money Investment Club
Mark Eckman on
Most of our members used bill pay to send - no deposit slip, never a problem.
For anyone who has TDAmeritrade as their broker, are you able to electronically transfer funds each month to your account? Their 'deposit slip' form presumes one is mailing them funds.
Bob Lunch Money Investment Club
--
Mark Eckman
Colleen Goings on
We use TDA but for a convenience to the members we keep a checking account at the local bank so they can make a deposit if they miss a meeting or this year have had to do zoom. I just do an Electronic transfer of funds. Works simple for us.
For anyone who has TDAmeritrade as their broker, are you able to electronically transfer funds each month to your account? Their 'deposit slip' form presumes one is mailing them funds.
Bob Lunch Money Investment Club
Laurie Frederiksen on
Here are instructions you can use to have your members send their checks to TDAmeritrade using their bank bill pay:
It works great. Everyone in my club sets up a recurring bill pay at their bank to send their checks each month. You can even specify a date you'd like them to arrive at the broker.
Laurie Frederiksen Invest with your friends! www.bivio.com
We use TDA but for a convenience to the members we keep a checking account at the local bank so they can make a deposit if they miss a meeting or this year have had to do zoom. I just do an Electronic transfer of funds. Works simple for us.
For anyone who has TDAmeritrade as their broker, are you able to electronically transfer funds each month to your account? Their 'deposit slip' form presumes one is mailing them funds.
Bob Lunch Money Investment Club
craigmc55 on
We do the same as Colleen, direct deposit into a credit union and transfer to TDA when needed. Simple, easy plus it provides a debit card that we use for expenses (Bivio subscription, certified mail for taxes, donations, etc.).
Craig
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Colleen Goings via bivio.com Sent: Thursday, February 25, 2021 11:41 AM To: club_cafe@bivio.com Subject: Re: [club_cafe] Re: Change of Broker & Local Bank Account
We use TDA but for a convenience to the members we keep a checking account at the local bank so they can make a deposit if they miss a meeting or this year have had to do zoom. I just do an Electronic transfer of funds. Works simple for us.
For anyone who has TDAmeritrade as their broker, are you able to electronically transfer funds each month to your account? Their 'deposit slip' form presumes one is mailing them funds.
Bob Lunch Money Investment Club
Peter Dunkelberger on
We have TDA. I collect the checks each quarter from our partners (currently mailed to me), put the account number on them and mail them off to TDA in Nebraska with the deposit form. The deposit is done pretty quickly. We have no account other than the brokerage account at TDA.
We do the same as Colleen, direct deposit into a credit union and transfer to TDA when needed. Simple, easy plus it provides a debit card that we use for expenses (Bivio subscription, certified mail for taxes, donations, etc.).
We use TDA but for a convenience to the members we keep a checking account at the local bank so they can make a deposit if they miss a meeting or this year have had to do zoom. I just do an Electronic transfer of funds. Works simple for us.
For anyone who has TDAmeritrade as their broker, are you able to electronically transfer funds each month to your account? Their 'deposit slip' form presumes one is mailing them funds.
Bob Lunch Money Investment Club
Peter Dunkelberger on
To send funds electronically, I presume each of your members has to have bill pay at their bank. The members also have to be furnished the account number and address of the brokerage. Is that correct?
We do the same as Colleen, direct deposit into a credit union and transfer to TDA when needed. Simple, easy plus it provides a debit card that we use for expenses (Bivio subscription, certified mail for taxes, donations, etc.).
We use TDA but for a convenience to the members we keep a checking account at the local bank so they can make a deposit if they miss a meeting or this year have had to do zoom. I just do an Electronic transfer of funds. Works simple for us.
For anyone who has TDAmeritrade as their broker, are you able to electronically transfer funds each month to your account? Their 'deposit slip' form presumes one is mailing them funds.
Bob Lunch Money Investment Club
John Rice on
No Peter. They enter the club's information into their bank account bill pay system without informing the broker. You need to use the penny system in order for the treasurer to know who deposited the money. This is extremely easy for the treasurer.
To send funds electronically, I presume each of your members has to have bill pay at their bank. The members also have to be furnished the account number and address of the brokerage. Is that correct?
We do the same as Colleen, direct deposit into a credit union and transfer to TDA when needed. Simple, easy plus it provides a debit card that we use for expenses (Bivio subscription, certified mail for taxes, donations, etc.).
We use TDA but for a convenience to the members we keep a checking account at the local bank so they can make a deposit if they miss a meeting or this year have had to do zoom. I just do an Electronic transfer of funds. Works simple for us.
For anyone who has TDAmeritrade as their broker, are you able to electronically transfer funds each month to your account? Their 'deposit slip' form presumes one is mailing them funds.
Bob Lunch Money Investment Club
jeff clark on
For a small Club/account type like ours, I think you have to maintain a minimum $2000 cash balance.
Any dividends or sales of stock we keep in Ameritrade for purchasing more stock. We are thankful not to have ever dropped below the minimum balance.
So we don't send them any funds. Dues are deposited into a bank account.
What are the advantages of using electronic funding?
TD Ameritrade provides Automated Clearing House (ACH) services for the primary purpose of the purchase or sale of securities. Electronic funding is fast, easy, and flexible. Use it within our online application to open and fund your qualified account and trade online the same market day for most account types, eliminating the cost and time delays of wire and overnight fees. You can also use it to add additional funds to your existing account, either as a one-time transfer or a recurring transfer.。
How does electronic funding work?
Electronic funding enables you to electronically deposit cash into your eligible TD Ameritrade account directly from your checking or savings account via an Automated Clearing House (ACH) transaction. The ACH network is a nationwide batch-oriented electronic funds transfer system.
On Thursday, February 25, 2021, 11:36:36 AM CST, M. D. via bivio.com <user*9437600001@bivio.com> wrote:
Yes, that is how we send funds to them.
Margaret
On Thursday, February 25, 2021, 12:32:28 PM EST, Robert Mann via bivio.com <user*12614800001@bivio.com> wrote:
For anyone who has TDAmeritrade as their broker, are you able to electronically transfer funds each month to your account? Their 'deposit slip' form presumes one is mailing them funds.
Bob Lunch Money Investment Club
Bob Mann on
I don't believe it's a $2000 minimum balance, but only $2,000 in cash/securities to open the account.
Bob Mann
On 02/26/2021 7:55 PM jeff clark via bivio.com <user*21133900001@bivio.com> wrote:
For a small Club/account type like ours, I think you have to maintain a minimum $2000 cash balance.
Any dividends or sales of stock we keep in Ameritrade for purchasing more stock. We are thankful not to have ever dropped below the minimum balance.
So we don't send them any funds. Dues are deposited into a bank account.
What are the advantages of using electronic funding?
TD Ameritrade provides Automated Clearing House (ACH) services for the primary purpose of the purchase or sale of securities. Electronic funding is fast, easy, and flexible. Use it within our online application to open and fund your qualified account and trade online the same market day for most account types, eliminating the cost and time delays of wire and overnight fees. You can also use it to add additional funds to your existing account, either as a one-time transfer or a recurring transfer.。
How does electronic funding work?
Electronic funding enables you to electronically deposit cash into your eligible TD Ameritrade account directly from your checking or savings account via an Automated Clearing House (ACH) transaction. The ACH network is a nationwide batch-oriented electronic funds transfer system.
On Thursday, February 25, 2021, 11:36:36 AM CST, M. D. via bivio.com <user*9437600001@bivio.com> wrote:
Yes, that is how we send funds to them.
Margaret
On Thursday, February 25, 2021, 12:32:28 PM EST, Robert Mann via bivio.com <user*12614800001@bivio.com> wrote:
For anyone who has TDAmeritrade as their broker, are you
able to electronically transfer funds each month to your
account? Their 'deposit slip' form presumes one is mailing
them funds.