Depositing Funds
You have 4 options for depositing funds:
Checks
Please make checks payable to: PFSI (that is the acronym for Penson Financial Services, Inc). Be sure to put your account number on the check in the "Memo" field. Click here for our mailing address.
If your account has little or no equity relative to a check or money order deposit, the funds may take up to 5 business days to clear.
Federal Funds Wire
To send a Fed Fund Wire, please provide your bank with the following instructions:
ABA # 021000018
Bank of New York, One Wall St., New York, NY 10286
For Account of Penson Financial Services, Inc., Account # 8661169975
For Benefit of (Enter Trading Direct account # and title here: Ex. 458-12345 George P. Smith)
If your bank requires the physical address Penson Financial Services, in order to process the wire, it is: 2 Journal Square Plaza, Jersey City NJ 07306.
Wired funds (via Federal Fund or International Wire) are available to use immediately.
International Bank Wire
To send an International Wire, please provide your bank with the following instructions:
Swift Code: IRVTUS3N
Bank Name: Bank of New York
DDA: Account of Penson Financial Services, account # 8661169975
FFC: (Enter your name and Trading Direct account number here Example: John Doe 458-12345)
ACH Transfer
Click here for more information.
Depositing Restrictions:
- $500 minimum for initial deposit
- Deposits are only accepted in US ($) dollars.
- The name on the Trading Direct account must appear on the check being deposited.
- Corporate checks may only be deposited to corporate accounts.
We do not accept:
- foreign currencies
- credit or debit cards
- third party checks
- money orders
- goverment issued tax refund checks
- checks from foreign banks without a United States bank affiliation.
When sending wires, account titles must match.
Start Saving Now
For an individual, joint, or custodial account, or for a Traditional, Rollover, or Roth IRA, click below to submit your application online.
For all other account types please visit our Document Center.
Questions? Contact us.