5 ms·
did you do it via wire or ACH and did you initiate it through your broker or your bank? Perhaps what happened is your bank saw this other bank (your brokerage t
by digler999 10y ago
did you do it via wire or ACH and did you initiate it through your broker or your bank? Perhaps what happened is your bank saw this other bank (your brokerage that you maybe rarely use) try to make a huge ACH withdrawal to your account. The amount is probably way bigger than you normally transfer so they're trying to protect you.
If thats the case, what might be easier is tell your bank "ok cancel the transfer", then get your brokerage's bank wire information, physically go to your bank, and initiate a "fed wire transfer" to your brokerage. Fed wire is like moving physical cash, it hits your account in minutes (not overnight like ACH usually is, and no "available balance" vs pending deposit bs)and is absolutely final. And if your bank refuses to move your money when you walk up in line and show them your ID, get a new bank.
- cm2187 10y agoNo in this case it was KYC, not fraud prevention. They wanted to check I wasn't going to use the funds for bad activities. But they backed down when I mentioned the note from my mum and they realised they were being unreasonable.