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How to Initiate ACH transfers - Original Setup Process



ACH Setup Process - How the ACH Setup Process works


How to enable ACH Transfers on your account:

Automated Clearing House (ACH) deposits/withdrawals may be made to your PT(IB) account from and to your bank (referred to as your "non-IB account" above) using one of two transfer methods. Under the first, referred to as ‘ACH Initiated By Us’, your transfer request will be automatically processed through a message sent to your bank by our clearing firm. Prior to using this method you will need to create a standing instruction through Funds Management which authorizes IB/our clearing firm and your bank to electronically transfer funds between the two accounts and then verify a series of test transactions issued to your bank account several days later which serve to establish the link. Once established, this transfer method can be used for future deposit and withdrawal requests.

Under the second, referred to as ‘ACH Initiated By Bank’, you provide us with a notification of the amount you wish to transfer via ACH and then you contact your bank and provide them with a print out of the notification form in order to initiate the transfer. Please note that your notification to us under this method only serves to match your deposit to your account upon arrival and does not result in the transfer of funds. The transfer of funds will only be initiated once you provide your bank with the IB destination account details included on the notification form.

To use the 'ACH Initiated At Us' transfer method, you will need to first set up instructions through your PT account as follows:

1. Log into the Account Management application;

2. Select the Funding and then Funds Transfers menu options;

3. From the Transaction drop-down list select Deposit or Withdraw;

4. From the Method drop-down list select ACH Initiated By Us;

5. You will be then be provided with a drop-down list titled Source from which you will see a list of any existing instructions you've created along with an option to Add New Instruction. Note that this screen will also provide information regarding credit holds and withdrawal restrictions relevant to this type of transfer request.

6. Once you have selected Add New Instruction you will be directed to the instruction input screen where you will be asked to provide the information about your bank account (i.e., bank account number and ABA routing number) which is necessary to establish a link. All of this information may be obtained from viewing your check;

7. You will be asked to confirm your request via electronic signature and security token authentication which authorizes both our clearing firm and your bank to act upon any transfer requests you provide through us;

8. Within 1-3 business days, two random credits (deposits) each less than one dollar and a corresponding debit (withdrawal) will be issued to your bank account.

9. You will need to monitor your bank account for these transactions as they will be needed to confirm this funding instruction. Note that these transactions may take place on different days.

10. Once you have these amounts, log back in Account Management and from the Pending Requests menu option select the Confirm Amount link adjacent to your instruction enter the credit amounts.

11. Once you have entered the correct amounts, you may use the ACH instruction for deposit and withdrawal transfers.


Please Note:

PT does not charge any fee for ACH deposits and accounts are afforded one free withdrawal request per 30 day period.

ACH deposits are subject to a 4 business day credit hold after arrival prior to being credited to your account. In addition, if funds are withdrawn from your account and sent to a bank other than the originating bank (a different bank than the one that you originally transferred your funds in from), a 40-business-day withdrawal hold period will be applied. These terms are set by our clearing firm.


Related Links:

Funding your Online Trading Account

How to Fund your Online Trading Account

How to Make a Deposit - Slip / Notification

How to check the status of funding transactions




All investing involves risk, including the possible loss of principal and there can be no assurance that any investment strategy will be successful.