Anonymous
Anonymous asked in Business & FinanceInvesting · 7 years ago

Why wont USAA let me buy stock?

I recently opened a USAA brokerage account, and transferred money into it. Now my money is just sitting in there, and I'm not able to access it. it says:

ACCOUNT OVERVIEW:

Cash Balance: $370.00

Cash available to withdrawal: $0.00

AVAILABLE FOR TRADING:

Cash account: $0.00

So now, not only can I not invest the money in stocks, i cant even touch it. How come this is happening and how can i fix it?

I love USAA, i do everything through them, but this is ridiculous! any help is appreciated

3 Answers

Relevance
  • 7 years ago
    Best Answer

    It appears that you forwarded a check to the firm, the check was drawn on a bank that was not in the same federal reserve district as USAA, therefore USAA has to wait for the check to clear (become goo funds) once the check clears the bank, you will see "cash available to withdrawal $370.00 (this also prevents money laundering).

    Since the money is not cleared, you can not withdraw it nor can you use to trade.

    This is common when paying by check and it is the procedures for most firms who accept checks as payment.

    Rather writing your question here on YA. it would have been easier, faster and more accurate to have called USA for their response since they have the details.

    Source(s): from the street
  • nashim
    Lv 4
    3 years ago

    Usaa Brokerage Cash

  • 4 years ago

    This Site Might Help You.

    RE:

    Why wont USAA let me buy stock?

    I recently opened a USAA brokerage account, and transferred money into it. Now my money is just sitting in there, and I'm not able to access it. it says:

    ACCOUNT OVERVIEW:

    Cash Balance: $370.00

    Cash available to withdrawal: $0.00

    AVAILABLE FOR TRADING:

    Cash account: $0.00

    So now,...

    Source(s): wont usaa buy stock: https://shortly.im/8VqH3
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