Wednesday, April 26, 2006

Experience on Transferring money between HSBC and Scottrade

I reported that I successfully linked my HSBC account and my Scottrade account last month. To make a test, I made a transfer from HSBC to Scottrade this week. Here is the detail story.

4/23 set up the transfer on the website of HSBC
4/24 fund was deducted from HSBC account
4/26 fund was deposited to the Scottrade account.

Seems the fund has been held somewhere for one day, the same way as the transfer between HSBC and other regular banking accounts does.

Unofficially I heard that Scottrade will have the ACH function by this summer. But the exact date has not been announced. With ACH, I believe that Scottrade will become more attractive.

Please note that Scottrade currently runs a referral program. If you would like to open an account there, drop me a line and I can send you a referral code. That way both you and I will get 3 free trades.


At 6:39 PM, Anonymous Tim MMF said...

3 days - not too bad. Good thing you weren't in a rush to buy anything! :)


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