your faith has come down to money & a tv

Tuesday, May 16, 2006

Other TD Ameritrade things/problems

Today's TD Ameritrade topic:


So, to me, it would seem to make some sense that if you open and fund your account through your normal bank checking account, it would be fairly easy to get more money from that same checking account and deposit it in your TDA account.


You must go through a long + tedious process of confirming your bank account before you can deposit any additional funds in your TDA account. This includes waiting 2-3 days for TDA to deposit two small amounts in your bank account, then you confirming said deposits by entering their amounts on the TDA site. Only then can you wait an additional day or two for your deposit funds to clear so that you can invest your newly deposited monies.

This process does make some sense for security reasons. However, it makes absolutely zero sense why they don't make you confirm your bank from the beginning, when you open your account. I don't get it; anyways keep this in mind if you are still considering opening a TDA account.


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