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To: pinhi who wrote (8580)3/22/2000 1:16:00 PM
From: elpolvo  Read Replies (3) | Respond to of 35685
 
pinhi- re: asset transfer time

How long did it take to transfer your assets from Datek to Accutrade? I know sometimes it takes weeks and during that transfer period, your assets are "frozen" and you cannot make any transactions or trades.

it took more than a week but less than two weeks. my account was frozen and unaccessible for about four trading days during that time so it wasn't too bad. (the bad part was that datek was issuing me margin calls while it was frozen - but that's a whole other story)

the great thing about accutrade is that they let me transfer all of my margin intact without having to liquidate anything.

i requested transfer of my SEP IRA account at the same time, it takes longer because there are more holding companies involved and more paper work, etc. it hasn't gone through yet but it hasn't been frozen at datek yet either.

-polvie beano