Anonymous
Anonymous asked in Business & FinanceInvesting · 9 years ago

How to get the transfer fee forms?

I am transfering my account from edward jones to TD Ameritrade, they said there is a transaction fee but they will reimburse me, who will send me the transaction fee? Edward Jones?

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  • 9 years ago
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    The fee will be sent to TD Ameritrade by Edward Jones when they move the account as parts of the ACATS move.

    If there is a debit in your account resulting from the transfer Edward Jones can just credit your account before the move is made. If the debit still is in your account when the account moves, then the debit will move with the account and TD will have to write off the debit then attempt to get the money back from Edward Jones. If the debit reduces any credit balance you have in your account TD will just give you the fee by crediting your account.

    Legally, there are no rules or regulations that cover such matters but most of the time the receiving broker will reimburse the fee

    Source(s): from the street
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