2022 options to fund TD Ameritrade brokerage account. How to add money to a new account with initial deposit from a bank.

Options to Fund New TD Ameritrade Account

So you’ve read many of our articles on TD Ameritrade and have decided you want to open a brokerage account with them. The next step is funding your account, and TD Ameritrade makes this as convenient as possible for their customers to do by offering a number of different methods to deposit funds. This article will give a detailed overview of your funding options and the pros and cons of each.

Electronic (or ACH) Transfers

By far the most popular choice to move funds around with any broker, or any type of financial account for that matter, electronic transfers are usually always offered free of charge, can be initiated online, and are fairly quick. First you’ll need to link your bank account to your TD Ameritrade account, and to do this you’ll need to know your bank account number and your bank’s routing number. After the account is linked you can quickly initiate an electronic deposit request from your Ameritrade account.

TD Ameritrade Add Money

As long as you provide your transfer request by 4:30PM it will be processed by the next business day, at which time you’ll be able to use the funds to purchase most marginable securities (excluding risky securities like OTC stocks). After the funds settle, generally three days later, you can use your funds to purchase any securities you’d like (that are offered by Ameritrade) as there is no longer any risk to Ameritrade that your bank won’t fulfill the transfer request.

Open TD Ameritrade Account

Open TD Ameritrade Account

Wire Transfers

Another option to add money, albeit a less popular one, is called a wire transfer. Wire transfers are faster than electronic transfers. For example, a domestic wire generally settles in one business day. All wire requests received by 3:00PM EST by TD Ameritrade will be processed same day. Because wire transfers are quicker, the tradeoff is that they are generally not free. Ameritrade charges a flat $25 for outgoing wires, however they won’t charge you a fee for inbound wire transfers (but your bank probably does).

ACAT Transfers

If you already have a portfolio with another broker and opened a TD Ameritrade account and want to transfer that portfolio over via an account transfer, Ameritrade can help you do this free of charge. Your current broker will likely charge you to transfer your account out, but TD Ameritrade will reimburse you for the other broker’s transfer fees, up to $150.

Physical Checks

This method may be old fashion, but depositing funds to your Ameritrade account via a personal or bank check is also still an option. You can write and mail in a personal check or deposit the check to your Ameritrade account via their mobile app, all free of charge. Check deposits generally take one to three business days to clear.

Debit Cards

TD Ameritrade also gives its brokerage clients the option to have an Ameritrade debit card linked to their account in order for it to double as a checking account, allowing you to easily access the cash in your brokerage account and deposit your cash there via ATM. If you want to take advantage of this option you’ll also be happy to know that TD Ameritrade will reimburse you for any ATM fees you incur.

How to Fund TD Ameritrade Account Summary

In conclusion, TD Ameritrade makes it easy and convenient for you to fund your brokerage account and begin investing by offering a variety of different funding options. Whether you choose the standard electronic transfer or are willing to pay your bank for an instant wire transfer, Ameritrade makes sure these funds are available for you to begin trading in your account as quickly as possible.

Open TD Ameritrade Account

Open TD Ameritrade Account