Accounts may be funded by check, ACH, wire transfer, stock certificate, or by transferring an account to eOption.
Account Funding Options
Select your preferred method.
- Check
- Electronic Transfer (ACH)
- Wire Transfer
- Stock Certificate
- Account Transfer
- Money orders, third party checks, credit card checks, home equity line checks and starter checks are not accepted.
- Make all checks payable to Penson Financial Services, Inc.
- Mail checks to eOption, Attn: Customer Service, 950 Milwaukee Ave., Ste. 102, Glenview, IL 60025.
- IRA contributions made by check require an IRA Deposit Slip.
- All checks, including certified and cashier's checks require a minimum of 10 business days to become available for investing.
- Cashier's checks must have the remitter's name electronically printed directly on the check by the issuing bank.
Set up incoming or outgoing electronic funds transfer (ACH) between bank and brokerage accounts, including automatic contributions to your IRA. Transfers can be made on demand or on a recurring basis. ACH deposits are limited to $10,000.00 per day.
From receipt of your ACH authorization form, activation may take up to 10 business days. ACH deposits may be held for an additional 5 business days. If you want to trade immediately, eOption suggests funding your account via wire transfer. Call 1-888-793-5333 for assistance.
Wire Transfer Rebate for New Accounts
If you are funding a new account, wire transfers of $10,000 or more will be reimbursed wire transfer fees up to $30. (More information)
Mail the completed Authorization for Electronic Transfer form, including a voided check or bank letter to:
eOption
Attn: Customer Service
950 Milwaukee Ave., Ste. 102
Glenview, IL 60025.
Payroll Direct Deposit
Submit a voided check to your employer along with your completed Direct Deposit form. The Direct Deposit Form must be mailed to:
Reich & Tang Funds
Attn: Client Interface Dept.
600 Fifth Avenue, 8th Floor
New York, NY 10020
If you need assistance call 1-800-433-1918.
Wires must be sent to same-titled accounts. No third party wires may be processed.
Domestic
JP Morgan Chase Bank International
Chase Manhattan Bank, NYC |
JP Morgan Chase Bank 270 Park Avenue 1700 Pacific Avenue |
Stock Certificate
To endorse stock certificates over to eOption:
- On the back of the stock certificate, enter Penson Financial Services, Inc. as the attorney to transfer the stock.
- Each person registered on the stock certificate must sign the back exactly as printed on the front, including initials, suffix, etc.
- Date the certificate.
If you have any questions regarding stock certificates, please call customer service at 1-888-793-5333.
Transfer an existing account from another brokerage firm.
Full, automated customer account transfers (ACAT), will typically take 7 to 10 business days. A non-ACAT (partial transfer) or manual transfer may take up to 3 weeks to complete.
Depositing Funds and Securities
Funds and securities are required in advance. Sufficient buying power or cleared funds are required before any buy order can be accepted. Cleared securities must be in your account before any sell order will be accepted.
Account processing will occur within one (1) business day after receipt of account paperwork. Once your account has been approved, cleared funds are required to begin trading. All checks including certified and cashier’s checks require ten (10) business days before the funds are available for investing.