TastyTrade Incoming Transfer Fee
TastyTrade does not charge any fees for transferring an account or funds to them.
TastyTrade ACAT Fee Reimbursement
TastyTrade reimburses the account transfer fee when moving a brokerage account from another firm. The maximum reimbursement is $75, and the balance moved must be at least $2,000.
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TastyTrade Outgoing Transfer Fee (ACAT Fee)
TastyTrade's ACAT fee is $75 for a full account transfer.
If you transfer your account to Webull, they will reimburse this fee.
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TastyTrade Wire Transfers
The quickest way to transfer funds to or from your TastyTrade account is through a wire transfer. Domestic wire transfers are usually processed on the same day, making funds available to trade the next day. They are faster than ACH transfers, which take 2-3 days to clear, and checks, which can take up to 10 days to clear. International wire transfers may take 3 to 5 business days but are still the fastest option.
Starting and completing a wire transfer is straightforward. You can either handle it through your financial institution's representative or, in some cases, easily online, depending on your bank.
Wire Transfers to TastyTrade
There are some key details to prepare before contacting your financial institution.
You might need access to a printer, as some banks require certain documents to be printed, filled out by hand, and returned.
Wire transfers involve direct bank-to-bank communication, transferring secure funds from one account to another, which is why the funds clear so quickly. When funding your TastyTrade account, the initial recipient of the transfer is your brokerage, not your personal account.
Every brokerage has its own wiring instructions, which include the necessary account information for your bank to complete the transfer. Here is the wiring information you’ll need for TastyTrade:
Bank Name, Address, and ABA Routing Number
BMO Harris Bank
111 West Monroe Street
Chicago, IL 60603
071000288
Recipient/Beneficiary Name, Address, and Account Number
TastyTrade via Apex Clearing
350 N. St. Paul Street
Suite 1300
Dallas, TX 75201
1619329
Lastly, you’ll need your TastyTrade account information, including your name as it appears on your account and your account number. Some banks' wiring forms may have a specific section for this information labeled “final recipient” or “beneficiary information,” while others may include it under a section like “memo” or “message to recipient.”
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Wire Transfers from TastyTrade
Unlike incoming wire transfers, which are free, TastyTrade charges a $25 fee for outgoing wire transfers. However, initiating an outgoing wire transfer is easier than an incoming one. Users can find the necessary form under the “My Money” tab on the TastyTrade website.
Alternative Funding Options
TastyTrade also supports ACH transfers, checks, and ACAT transfers (from another brokerage).
When time isn’t a factor, ACH transfers are the most convenient. The Automated Clearing House (ACH) system connects your brokerage and bank accounts, allowing you to transfer funds as needed, with a 2-to-3-day processing time.
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Updated on 8/21/2024.
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