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Wednesday, April 11, 2007 11:36:57 AM
Hey dave...GM
Scottrade local offices receive funds, certified and personal check. They Fed Ex the check to the home office in St Louis and it shows up the next day by 10 am or so, available for trading. On occasion funds will not be available for even one or two more days in cases where ST says the fed ex was delayed due to wheather delays at the airports. One shipment they said a couple months back was delayed and temporarily lost because of an accident in the midwest. So we are at the mercy of Fed Ex on time delivery performance...imagine that
you see when you give a check to your local branch for deposit, it is recorded but not posted. The Home office must physically receive our funds prior to posting...
GL
Scottrade local offices receive funds, certified and personal check. They Fed Ex the check to the home office in St Louis and it shows up the next day by 10 am or so, available for trading. On occasion funds will not be available for even one or two more days in cases where ST says the fed ex was delayed due to wheather delays at the airports. One shipment they said a couple months back was delayed and temporarily lost because of an accident in the midwest. So we are at the mercy of Fed Ex on time delivery performance...imagine that
you see when you give a check to your local branch for deposit, it is recorded but not posted. The Home office must physically receive our funds prior to posting... GL
Salt Creek
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