Cashiering Policies

Fund Availability

• Deposits received before 12:30pm ET are deposited to your account the same day.
• Deposits received after 12:30pm ET are deposited the following business day.
• Funds are available for trading the same day.

Restrictions on Funds Deposited by Personal Check

• You may not write money market checks on deposited funds for a period of seven business days.
• You may not wire out deposited funds for 30 days.
• You may not request a check on deposited funds for a period of 30 days or until the check has cleared.

Fund Requests

1. Check Requests

• WRH+Co must receive a Letter of Authorization in writing via fax or mail before 2:30pm ET to be processed the same day.
• Please include:
  
  • Name
  • Account Number
  • Dollar Amount
  • Date
  • Signature by all account holders
• If requesting funds from a sale of stock you must wait for the trade to settle before requesting a check.
• The check will be sent to the address of record.
• For IRA accounts, WRH+Co must have an executed IRA distribution form on file prior to releasing funds (call a WR Hambrecht + Co customer representative at 1-800-673-6476 to request the form).
• Before brokerage checks can be mailed, all personal checks will be verified to ensure the check has cleared.
• Deposit Holding Periods
  
  • Check deposit: 30 day hold unless funds clear earlier.
  • Wired funds deposit available immediately.
  • Cashiers check deposit available immediately.

2. Wire Requests

• WRH+Co must receive a Letter of Authorization in writing via fax or mail before 2:30pm ET to be processed the same day.
• Please include:
  • Bank Name
  • Bank Address
  • Bank ABA Number
  • Bank Account Title
  • Bank Account Number
  • Signature by all Account Holders
  • Transfer Dollar Amount
  • WRH+Co Account Number
  • WRH+Co Account Title
• If requesting funds from a sale of stock you must wait for the trade to settle before requesting a wire.
• A processing wiring fee of $15.00 will be charged to your account.

3. Account Closure and Funds Request

• WRH+Co must receive a Letter of Authorization in writing via fax or mail before 10:30am ET to be processed the same day.
• Your account will be closed the business day following check issuance.
• Please include:
  
  • Name
  • Account Number
  • Indication of Account Closure on your request
    (follow instructions for either a check or wire)
  • Date
  • Signature by all account holders