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Non-Tech : CYBERTRADER
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To: Tanner who wrote (929)7/2/1998 2:22:00 PM
From: Stryker  Read Replies (1) of 3216
 
Hello Sandon,

Allow me please to respond to your inquiry and clarify the matter.

The policy of CyBerBroker and our clearing firm, Penson Financial Services, Inc. regarding the deposit of personal checks into a brokerage account is that the deposited funds will be available for use as soon as the deposit is posted to the account. In our experience with Penson this has always occurred by the next business day. However, these funds are not thereafter available for withdrawal from the account for a further ten business days from the date of deposit, in order to insure the funds have cleared.

So you are correct in your surmise that the funds should be (and will be!) available for your investment use as soon as they are in the account.

I would be very appreciative if you would let me know to whom the email in question was sent so that I may insure that we have the best response time possible.

Sincerely,

Mark K. Stryker
CEO
CyBerBroker
mark@cyber-corp.com
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