Ways to Fund Your Scottrade Account – Additional Information

Trading Restrictions

Trading restrictions apply to recent Money Direct deposits and uncleared check deposits. These funds cannot be used to purchase stocks under $3, non-marginable stock, unlisted stock or any options. For margin accounts, these funds cannot be used to meet a margin sell letter. Scottrade reserves the right to impose additional restrictions.

Restricted Fund Information

Deposit Type 

 Trading Restriction Period (in Business Days)

  When deposit amount is less than
3x available equity*
When deposit amount is greater than
3x available equity*
Wire Transfer 0 0
Money Direct 3 3
Cashier's Check 0 0
Personal Check 0 2
Money Order 0 2
Third Party Check 0 2
Money Market Check 0 10

*Available equity is the total value of cash and/or securities in the account, excluding options positions and deposits with trading restrictions in effect.

Money Direct Deposit Limits

 

Limit Type

Limit Amount

Minimum deposit limit per transfer $1
Maximum deposit limit per transfer $100,000
Deposit limit for 1 day* $100,000
Deposit limit for 7 days* $200,000
Deposit limit for 1 month* $800,000

*The total amount of all transfers initiated during this period cannot exceed the corresponding limit amount.


Additional Check Types to Fund Existing Accounts

  • Starter/counter checks with encoded ABA routing and account numbers
  • Third party checks endorsed to Scottrade, including payroll, corporate, government and tax refund checks
  • Credit card checks (only accepted to cover a debit)
  • Home Equity Line of Credit Checks (only accepted to cover a debit)


Check Acceptance Restrictions

Scottrade does not accept:

  • Traveler’s checks
  • Gift checks
  • Post dated checks
  • Checks made payable to “cash”
  • Altered checks
  • Bank drafts
  • Checks issued over 6 months ago


Scottrade reserves the right to refuse a check for any reason.

For more information, and additional detail, visit the Scottrade Knowledge Center.