Goldman Marcus as ACH funding source for Brokerage account?

kmiklas

kmiklas

Anyone have any success setting this up?

Specifically, using a Goldman Marcus account as a funding source for a brokerage deposit/withdrawal.

Seems like a good place for short-term investment of small amounts of cash that must be liquid, or a place to save enough for purchase of a bond.
 
kmiklas said:
Anyone have any success setting this up?

Specifically, using a Goldman Marcus account as a funding source for a brokerage deposit/withdrawal.

Seems like a good place for short-term investment of small amounts of cash that must be liquid, or a place to save enough for purchase of a bond.
More...

I have a hookup with Marcus and my brokerage accounts . Very easy to move money in and out . Takes 1-2 days to move money around
 
kmiklas said:
Anyone have any success setting this up?

Specifically, using a Goldman Marcus account as a funding source for a brokerage deposit/withdrawal.

Seems like a good place for short-term investment of small amounts of cash that must be liquid, or a place to save enough for purchase of a bond.
More...

You might want to check with broker... some hold ACH for 5 business days. Some won't take ACH at all and require bank wire. I've had both.
 
felix_arb said:
Can something similar be used with Interactive Brokers?
More...
I’ve had two different checking accounts hooked up to IB, and ACH transfers work well with no fees. There are a couple downsides:

1. 4-day holding period. Funds are credited thereafter. For reliable clients they waive it, but if you mess up a deposit (like Yours Truly) they make you wait. It’s a bit annoying.

2. Withdrawing back to a bank account takes a couple days, but only if you withdraw to the same account from which you deposited.

3. 60 days. In some situations you may face up to a 60-day hold on withdrawals. (I think) Eg. If you deposit funds from Chase into IB, and then withdraw to your BOA checking, this will take sixty (60) days. There’s another rule about this for Fx. The docs are a little sketchy but it’s legit anti-money-laundering policy at work.

References
https://www.interactivebrokers.eu/ru/index.php?f=48276
 
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