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Non-Tech : CYBERTRADER -- Ignore unavailable to you. Want to Upgrade?


To: Tanner who wrote (929)7/1/1998 11:21:00 PM
From: Brentsky  Read Replies (1) | Respond to of 3216
 
Sandon,

I'm choosing to wire my funds. I'll be trading in a couple of days after that.

Brent



To: Tanner who wrote (929)7/2/1998 12:13:00 AM
From: Darren  Read Replies (1) | Respond to of 3216
 
I don't know much about the fastest way to fund your account, but I am sure you don't expect Cyber-Corp to allow you to trade on "credit." I agree that it shouldn't take 10 days to clear a check, especially since you can call the issuing bank and ask if the funds are available. I would think that you should at least consider a wire transfer as well. Maybe the paper way is the slow way...either way, you'll eventually be trading, and it will be worth it!



To: Tanner who wrote (929)7/2/1998 2:22:00 PM
From: Stryker  Read Replies (1) | Respond to 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