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Deposits    Withdrawals     Internal Funds Transfers

 

 

How to Make a Deposit Notification (Deposit Slip)

 

 

Setting up a Deposit Notification is super fast and easy! Simply Log into Account Management and then:

 

 

How to enter a deposit notification - Fill out an electronic slip - Deposit Funds - Add Money to your account		  
 

 

How to set up a deposit notification so that I can add money to my account? 

Use these Simple Steps to Set up your Deposit Notification:

  1. Click on the Funding tab (located on the menu)
  2. Under Transaction Type: Select Deposit 
  3. Under Currency: Select the currency of your deposit
  4. Under Method: Select how you plan to make a deposit (ACH, Bill Payment, Wire1, or Check2)
  5. Under Amount: Enter the amount of the deposit
  6. Under Saved Information:  Choose whether or not you wish to use an existing bank information (that you have previously entered and saved) or if you wish to enter new banking information.  To enter new bank instructions simply fill in your bank information as requested.  You may enter Delivering Instructions as well as Recurring Transactions information below this as well.
  7. Click Continue
  8. Read and PRINT the deposit notification confirmation and then click OK.  You must print the confirmation before you click OK!
  9. Arrange with your financial institution to transfer funds to your PT account (based on the type of transfer notification that you choose).  Please note that setting up a notification in Account Management does not automatically transfer money to your PT account.  For example, if you wish to wire funds to your account you must initiate the wire itself at your bank before the funds may be transferred.  You will receive the exact wire instructions (from us) that you will need to provide to your bank in Step 8 (above) of the Deposit Notification process. 

 

For checks, please remember to include your account number on the check before sending it in with your deposit notification.  

 

 

 

Why do I need to make a deposit notification when I just want to add money to my account?
   
  Our clearing firm requires that you provide a deposit notification (you may think of a deposit slip) along with the funds that you add to your account.  Deposit notifications make it easier to match your funds with your account and help to insure that funds are routed to your account as efficiently as possible.  With the very large number of accounts that send money via check, ACH, wire, etc. every day, a deposit notification helps simplify the funding process and avoid delays or even potential processing errors.  Don't worry, it is easy and only takes a minute!  
     
 

 

     
 

Looking for Wire Instructions or for How to Address a Check?1,2

Once you fill in your deposit notification you will receive a page with instructions that tell you exactly what you need to know to quickly and correctly fund your account.  (In addition, this will serve as your deposit slip for checks that you plan to deposit/mail in to your account.)  This information includes how to make out a check and the where to mail it as well as the exact - line by line - information that you will need to provide to your bank if you plan to wire funds into your account and more! 

Please Note:

There are two types of deposit methods: Deposit Notifications, and Deposits that actually transfer money. 

Deposit notifications allow us to efficiently identify your incoming funds for proper credit to your account and to ensure that funds retain their originating currency of denomination.1

  • Explicit instructions on where and how to send the funds will be provided after you complete the deposit notification. The instructions will vary according to your location and type of funds.
  • Checks2 or wires sent to Place Trade without completed deposit notifications will be held until we can contact you to complete one.
  • A deposit notification does not move your funds. You must contact your bank or broker to complete the transfer.
  • Cancellation of the deposit notification will not stop Place Trade from presenting the check for payment.

To notify us of a deposit of funds, please complete a deposit notification on the Fund Transfers page in Account Management or during your initial application process.

 

 

 


1In the case of wire deposits, please note that routing instructions vary by currency type and the particular instructions which you will need to supply to your bank are made available upon creation of a deposit notification through Account Management. Deposits improperly routed by clients to a bank account not designated to accommodate deposits in the source currency are subject to rejection or automatic conversion into the local currency based on the policies of that bank. As Place Trade is unable to assume the risk of such errors, clients are advised to provide their bank with correct routing instructions for the specific currency through the use of deposit notifications.


2In the case of deposits made by check, 

  1. All Checks must be made out and addressed according to the instructions provided on your Deposit Notification Confirmation/Deposit Slip.  In the case of mutual funds held direct you will be provided with separate instructions.    
  2. Place Trade will not accept any checks which require endorsement to Place Trade or our clearing firm and our clearing firm will only accept check deposits having Place Trade as the direct payee where the party who writes the check either:
    1. Has the same last name as the individual account holder (e.g.; spouse or, child); or
    2. In the case of organization/institution accounts, maintains an affiliation with the account (e.g.; officer, trader or owners).
 

 

  
     

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