Funding By Check
All checks are to be sent as follows:
Apex Clearing Corporation - C/O BPO
Attn: Treasury Department
2 Gateway Ctr., 16th Floor, 283-299 Market St.
Newark, NJ 07102-5005
Checks must be made payable to: Apex Clearing Corporation
You must include your AutoShares 8 digit account number in the memo field of the check.
Only checks made payable to APEX Clearing Corp WILL BE ACCEPTED.
The firm is unable to accept the following funding types:
* Any funding not made payable to Apex Clearing Corporation
* Third Party Wires and Checks(defined as any account other than one of the same name as the account title held at AutoShares )
* Traveler’s Checks, Credit card checks
* Checks drawn against lines of credit or lines of equity
Cash, Money Orders, Temporary Checks, Unsigned checks
Cashier’s checks/Official checks for deposit to foreign accounts
Preprinted expiration dates on checks
* Funds for accounts that have not been opened
* IRA Funding not accompanied with an IRA Deposit Slip
* Checks may be subject to a 10 business day hold before funds are released for trading if the firm is unable to verify the funds with your financial institution.
* Foreign Accounts: Apex’s policy requires that any check or ACH deposits into international accounts must remain in the account 30 days before any withdrawal may take place. Additionally, Apex will not accept cashiers checks for international accounts. Any items drawn in foreign currencies or against a foreign bank will be sent for collection.
* The customer will not be credited for deposit until the bank has collected the funds from the foreign institution and covers Apex for the item converted into USD funds.
* Penalties for Returned Check Deposits - In the event that a check is returned unpaid from the paying bank, a $25 fee will be charged and the account will be asked to send funds in an alternate method (wire, cashier's check, or certified funds).