Funds deposited into your Penson trading account are available for trading the business day after they are received. Some deposits, such as checks, require a ten (10) day hold before withdrawal. For other account deposits choose from below
Typically the fastest method of funding your Pinnacle account. Wire transfers are usually received the same day that they are sent by your financial institution, and will post to your account the day after they are received.
Provide your Bank with the following to initiate the wire transfer:
| Wire Instructions
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Print Version |
Amount of Transfer (US Dollars)
JP Morgan Chase Bank
277 Park Ave 23rd Floor
Ny, NY 10172
Bank ABA number: 021000-021
FAO Penson Financial Services, Inc
Account Number: 066-6-00030
For Further Credit to: Customer Name; Penson Account #
Foreign wires require SWIFT number CHASUS33
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Please notify us at (919) 850-0888 or email us at accounts@pcmtrading.com after you have initiated the wire.
Mail or Overnight all checks with your account paperwork. Checks must be drawn from a bank in the United States.
Non-certified checks are held for 10 business days.
Make Checks Payable as follows: |
Mailing Address: |
Personal Checks:
Payable to: Penson Financial Services, Inc
Brokerage Checks:
Payable to: Penson Financial Services, Inc
FBO (for benefit of) Your Name |
Pinnacle Capital Markets
4700 Falls of the Neuse,
Suite 390
Raleigh, NC, 27609
United States of America |
Money Order/Cashiers Checks: Penson Financial Services does not accept Money Orders or Cashiers Checks.
Third Party Checks: Penson Financial Services does not accept third party checks for deposit. A third party check (by Penson's definition), is any check that is drawn on an account other than one of the same name as the Penson account holder OR any check that is not made payable to Penson Financial Services .
Credit Card Checks: Penson Financial Services does not accept credit card checks (i.e., checks drawn against a credit card account) for deposit in customer accounts.
Bounced Checks: Penson Financial Services, Inc. will assess a $25.00 fee to all bounced checks and bounced checks will not be re-deposited. Checks returned for insufficient funds (NSF) will initiate a charge of $20 to the customer's account.
ACAT Transfer - For an account transfer from a different Broker/Dealer, you must complete an Account Transfer Form (ACAT). Be certain to include a recent copy of your statement. You may fax the completed ACAT (domestic accounts only) to (919) 850-9914 initiate the transfer, then Mail or Overnight ACAT.
DTC Transfer - A method of transferring cash positions (fully paid-for stocks) from your existing brokerage firm to Pinnacle Capital Markets. These transfers typically take 2-3 business days and cannot be used if you are closing your other account. You will need to provide the transferring broker with Pinnacle's incoming DTC number: 0234PFSI. Please contact us for further details.
