ACH/MONEY TRANSFER PAGE

WHY WOULD I USE ACH?
ACH is merely another option for you to use when transferring money into and out of your TDSC brokerage account—you don’t have to use it at all.  Personal checks and wires are fine.  But ACH has some advantages.  Using ACH is far faster than mailing a personal check.  Wires are generally even faster than ACH, but wires cost money.  ACH is free.  But which method you use is up to you.

HOW DO I USE ACH?
First, you must set up ACH. Linking accounts can take a few days, so it’s a good idea to set up ACH in advance.  The set-up is simple.  The step-by-step instructions are below, but here’s a quick summary:  go to the web site of our clearing firm, Penson, enter your brokerage account number, and request an ACH link to one of your outside banking accounts.  Penson will test the ACH link by sending a couple of small transfers into your bank account.  You’ll be asked to log back into the Penson web site after a day or two and confirm the amounts of the two transfers.  Once that’s done, the ACH link is set and you can transfer money in and out easily. 

ARE THERE ANY RESTRICTIONS ON ACH?
ACH is intended for money transfers between financial accounts—it is not an online bill payment service.  ACH Transfers can only take place between TDSC brokerage accounts and outside checking or savings accounts that have approved relationships.  The following criteria will be considered when approving requests for new relationships:

1.  ACH transfers will only be set up for accounts with the same name.  (This means you cannot set up an ACH relationship between the brokerage account of John Smith and
the bank account of Mary Smith, even if they are married.) 

2.  Outside accounts must be either checking or savings accounts only. 

3.  No ACH links will be established through intermediaries or with other brokerage accounts. 

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    1)     A Bank Account
             You’ll need an account at a financial institution, usually a checking or savings account
          at a bank.  

    2)    Your Bank’s Routing Number
            You’ll need to find out your bank or financial institution’s ABA routing number, which you
          can see on your checks (see graphic below).

3)    The Penson Account Number for your TDSC Account
        You’ll need your Penson brokerage account number, which is different than the TDSC
      account number, even though it’s the same account.  Your 7-digit TDSC account number
      looks something like this: A00-1111; whereas your 8-digit Penson account number looks
      more like  this:  32811111.  (If you see your Penson Account number listed as a 10-digit
      number that looks like this:  07-3281111, then you can just ignore the 07.)  You can find
      your Penson account number on your monthly statement and on your trading platform in the
      Account Info section.

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2)   Log in to the Penson Site
       Enter your Penson (not TDSC) username and password and log in.  SKIP TO STEP 3.

       If you have never logged in to the Penson site before, user log-ins and passwords
       may be obtained by clicking on the “Create a User ID” hyperlink.

       Creating a User ID
       a)    After clicking on Create a User ID, you’ll be asked for your Penson Account number.
              (The first box should default to 07-Penson Financial Services—leave that box alone
              and enter your 8-digit Penson account number in the second box.)

  b)    Enter your Social Security Number

  c)    Enter your e-mail address

  d)    You’ll be asked for a Secret Question and Answer.  This is done so that
    if you forget your User ID and/or password in the future, Penson can
    verify your identity and e-mail you the information.

  e)    You’ll then be asked to create a User ID and password.  The password
    must contain both letters and numbers.

  f)     You’re done and can continue into the web site.  Go to Step 3.

       
       You will be asked to fill in the following:

       ABA Routing Number—Make sure it’s the ABA routing number for the outside
      banking account to which you want to link your brokerage account, not the ABA
      routing number on your Penson checks.

        Bank Account Number

        Name on Account—Enter your name as it appears in the Account Title of your
       bank account

       Account Nickname—This field is optional.  Since you can set up more than one ACH link
       and memorizing account numbers is difficult, this is simply here for your convenience. 
       [When you’re asked to confirm if you want to transfer $5,000 from account 10101010
       to account 328110101, you’ll be happy to see a nickname reminding you which account
       is your bank account.]  Examples of nicknames are “Citibank Savings” or “Joint Checking.”

         Then click “Submit.”

6)     This will bring you to the Terms & Conditions Page.  Please read it.

       If you select “I ACCEPT,” two small cash deposits will be sent to the outside bank
       account specified by the customer and the micro-deposit verification will be made
       available on the ACH Relationships page. SKIP TO STEP 7.

       If you select “I DO NOT ACCEPT,” a printer-friendly letter of authorization (shown
       below) will be created for you.  You can fill this out and mail it in to Penson.  This non-
       electronic process will be slower, but the ACH relationship will be set up. 

       This printer-friendly version of the letter must be printed, signed, and returned to Penson
       with a voided check attached (or deposit slip for savings accounts).  Once this is received
       by Penson, the approval process for the new ACH relationship will begin.  You will not need
       to complete Steps 7-12. 

7)     This will bring you to the Pre-Note Confirmation Page (shown below).  (It’s best to
       print this out before clicking the Continue Button.)

       You’re finished. . . for now.  It will take a couple of days until Penson sends two small
       deposits to your bank account, testing the ACH link. 

       Once you see those small deposits in your account, finish with Steps 8-12.  Once you
       have successfully confirmed the two amounts, you may use the ACH link to transfer money
       back and forth between your bank and brokerage accounts.

        Pre-Note Confirmation Page
       Your ACH relationship request was successfully submitted.  Your bank account will be
      credited with two small deposits within the next 2-3
      days business days to begin the confirmation process.

       To complete the confirmation process, please follow these steps:

       1.   Contact your bank in the next two to three business days to verify the
             amounts of the two deposits.

            2.   Return to this website and select “Transactions” from the tool bar.

         3.   Select “ACH Relationship” from the drop-down menu to view the
             relationships for your account.

        4.   Select the appropriate ACH relationship pending confirmation, and click on
             the green check mark to the left of the entry.

       5.   The confirmation screen for that relationship will open.  Enter the two dollar
             amounts deposited in your bank account in the fields provided, and click on
             the “Submit” button to confirm the relationship.

         IMPORTANT!
       Only three attempts to verify will be permitted.  Failure to correctly confirm the
       dollar amounts will result in the relationship being declined.

       Users have 10 days from today to confirm requested ACH relationships.  ACH
       relationships in a pending status for more than 10 days will be automatically
       declined.

8)    Contact your bank in the next two to three business days to verify the amounts
       of the two deposits.

9)    Return to the Penson web site and select “Transactions” from the tool bar.

10)   Select “ACH Relationship” from the drop-down menu to view the relationships
        for your account.   

11)   Select the appropriate ACH Relationship Pending Confirmation, and click on the
        green check mark to the left of the entry -- . (Unlike the graphic below, there
        will probably be only one pending transfer listed.)  

12)  The confirmation screen for that relationship will open. 

 Enter the two dollar amounts deposited in your bank account in the fields provided,
 and click on the “Submit” button  to confirm the relationship.

       If the values are correct, the ACH relationship will be approved and the user may begin
       requesting funds transfers immediately.

MAKING ACH TRANSFERS

Once you have your ACH transfer system in place, transferring money in and out of your account is easy. 

1)    Go to the Penson Site
       To access the cash transfer process, first log into the Penson Connection website at
       https://online.penson.com  

2)    Log in to the Penson Site
        Enter your Penson (not TDSC) username and password and log in.

3)    Once in the start-up screen, select “Transactions” in the menu bar.  This will open a
       drop-down box containing multiple options.  Select “Cash Transfer.”

4)     Click on the gray button marked “Request New Transfer”

5)     Enter your Penson Account number and click “Go.”

6)     You will be taken to the Cash Transfer Page (shown below).  In the space marked
       amount, put the dollar amount of the transfer or, if you wish to transfer the entire balance,
       check the box “Account Balance.”  Enter the “From” and “To” account information and then
       select a date.  (If you wish to make this a recurring transfer, you may.)  Click on “Submit.” 
       You will see a pop-up page confirming the information you entered.  Then, you’re finished.

      
       OTHER TRANSFERS—WIRES AND PERSONAL CHECKS

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Subsequent Funding
Personal Checks, Wires, and ACH Transfers
(Money orders, bank drafts, and cashier's checks are not accepted.)

Wiring Instructions
Wiring instructions are as follows:   
    JP Morgan Chase Bank
    55 Water Street
    New York, NY 10041
    ABA#021-000-021
For the account of Penson Financial Services
    Acct#066-6-19580
For further credit to customer: Customer's Name
Customer account: Account #*

*--please be sure to write your 8-digit Penson account number, not your 7-digit TDSC account number 

Your Penson brokerage account number is different than the TDSC account number, even though it’s the same account.  Your 7-digit TDSC account number looks something like this: A00-1111; whereas your 8-digit Penson account number looks more like this:  32811111.  (If you see your Penson Account number listed as a 10-digit number that looks like this:  07-3281111, then you can just ignore the 07.)  You can find your Penson account number on your monthly statement and on your trading platform in the Account Info section.

Check Instructions  
    Please make check out to:
    Penson Financial Services, Inc.
    (Any checks made out to myTrack, Track Data, Track Data Securities, etc. will not be
    accepted for deposit and will be returned.)
Send to:
    Track Data Securities
    95 Rockwell Place. 
    Brooklyn, NY 11217 

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