Silent, TDAmeritrade is the same way for use of funds for non-marginable stocks. Only way faster is to have Bank wire the cash. No clearing time and reasonable fee. BUT, I understand if you have a TDWaterhouse/Ameritrade branch office nearby you can make an immediate deposit there.
o.t. etrade posts my transfers from my bank account for immediate use. Took one transfer with 3 day delay before they allowed me immediate access to transfered monies.
Etrade with banking allows 24 hours, you have to have both banking account and broker account for this to work. But the trade cost is high for those who don't make enough money..
$12 (0-29 trade per quarter) $9.99(30-149) $7.99 (150-1499)
but if you have 50K in assets as well, you can get $9.99 trade cost.