In this article, I will provide an example how you can transfer fund to your new TD Ameritrade account via wire transfer from overseas to US. Beware that the information is accurate at the time of writing of this article. You should always refer to the information provided to you by TD Ameritrade before actual fund transfer.
You can wire your money via Citibank or CIMB Bank if you are located in Malaysia.
Please be aware that your fund transfer may be rejected even it is a small error in your form. The fund returned to you will be lesser than you sent initially after currency conversion both ways as well as processing charges from both US and your bank. So always double check your information before transfer your money.
I am using CIMB transfer form as example.
[1] Check on Telegraphic Transfer
[2] Check on F/X treasury contract
[3] Enter beneficiary's particulars
TD Ameritrade
200 South 108th Avenue
Omaha, Nebraska 68154
[4] Enter beneficiary's bank particulars and account number
Wells Fargo Bank, NA
420 Montgomery Street
San Francisco, CA 94104
Comments
Mind to tell whether have you ever tried with CIMB clicks?
The CIMB branch that I went to is located near Penang Free industrial Zone area. The bank has experiences in handling fund transfer for investment because those working for multinational companies mostly have US stocks.
Thanks for responding. What are the documents needed to be attached?
Unfortunately I am located in Shah Alam. Bank branches here are very sceptical and have suspicion of customers trading forex and doing money laundering. How much did you pay for the bank charges? Are there any agency fees when money is credited in TDA lesser than what you sent?
Besides wiring funds to TDA (took 2 months to open), I am also intending to close all my open options position on 29th Jan expiry and probably buy a share counter with the money I have in Tiger Brokers account and transfer out to TDA by paying a USD100 nominal fee per share counter. Much better than remitting back to Malaysia and transfer out to USA again. This was taught by a friend. Anyway Tiger Brokers has the highest commission and very lousy yet unstable platform. Imagine having to close the platform after a few clicks as it hangs. Imagine having few options to close and I will sacrifice the whole night trying to close position on 28th or 29th Jan.
How can I get in touch with you personally? You can send me an email and I would like to contact you personally from there. Like to share with you some high percentage or almost sure win options strategy with you which I've learnt from paid course and also learn from you in return. Cheers!
You will have a wire instruction letter from TD after new account application approved. For Tastyworks, print out the page "My Money | Deposit - By Wire" instructions from your account panel. That's the document to attach.
Just go to banks near multinational industrial area. BTW, TT over counter requires saving/current account from the bank. No cash transaction.
There are fees involved. My local bank fees are waived. Overseas agent fees is around USD27.
They have promotion from time to time. You can check with help line to see are they going to give you wire fees rebate. If yes, before TT, ask local bank to state clearly local/foreign agency fees and your TT amount. Send TT form to TD or Tastyworks after TT to get your rebate.
I will send my email to you later. TQ.
Currently CIMB Bank has this function SpeedSend and on promotion, no fees (used to be RM10) and no intermediary agency fees. The rate is marginally higher than the TT rate. However it is our [block by admin] govt policy that allow only max RM10,000 equivalent in USD. For other purposes, can transfer up to RM50,000 (like for children's education and employment purposes).
By the way what IVR methodology for options trading you use?
Wrote you an email yesterday. Shared with you a good strategy. Actually I have positions expiring on 29th Jan. Need your advice actually. See how we can keep in contact
You can refer to this page. https://tastyworks.com/pricing. Price is applicable to international traders too.
You can also email to support@tastyworks.com to get confirmation. They normally reply very fast.
Options is USD1.25 per trip
Stock is USD5.00 per trip.
That why I use TW for 90% of my trade.
I never used the service from Public Bank before. You can try.
For this, you can get help from TDAmeritrade SG. Normally they response very fast.
I switch to CIMB now, hope it gonna be okay.
Again, thank for your help!
I switch to CIMB now, hope it gonna be okay.
Again, thank for your help!
Highly possible that your application got rejected because local bank unable to confirm the purposes of your transfer. Do state it clearly.
Another bank that don't give such problem is Citibank.
Bro! Please reply me to this 2 question ! :(
All the best.
The bank officier is like noob srl...i tried to complain them & they got nth.
I'm not live in penang. Anw, thank you so much for your help.
The bank ask me what kind of investment when i tell the purpose of remittance is investment? They need to specific it, what should i do, dude?
Thank in advance!
For supporting documents, I attached fund transfer instructions that have name and bank account for the broker.
I don't have IB account. Only TD and Tastyworks.
Funding account should be the same.
I mostly use trend line and MAs for technical analysis. I also use IVR for options trading.
I'm just worry about how do i get the $ back once i transfer my account from the existing broker to TD.
As for the technical are you kind of T.A.E framework or Trend,MACD,Vol,MA + fibo retracement or the others? :)
You don't have to open USD currency account just for money transfer, unless you want to send and receive money frequently. I am more of a technical trader...
Thanks for the info.. kind of reluctant to open up a foreign currency acc with CIMB due to their min requirement to place 2000 USD while HSBC min req RM 20K/5K USD. Anyway, i have obtained a letter from TD SG to state they dont involved with forex hope that help.. :) S.Potato, btw are you a technical trader/investor?
As far as I know, Citibank and CIMB are two banks that have less problems. As long as you are not involve in Forex trading that should be okay.
Good luck.
I was informed by the bank (UOB) they doesn't allow TT to TD due to it is a company which involved in Forex and according to BNM regulations we are not able to remit not receive remittance (withdrawal) from TD. Is that true? Check the similar with BN officer was asked to check with the other banks who may allow to do so.. Trying to understand if that regulations or rules actually exist as worry might not get the $ back after getting profit or.. in the future.. Thanks
You need to forward to TD based on their latest instructions.
It should be in their email to you.
Thx
Bank officer will inform you latest currency conversion rate to buy USD for TT. You decide is that the good rate for you.
With CIMB click, your request will be forwarded to processing center. You have no control of the conversion rate. It will be up to the bank.
You don't have to. You going to send a transfer cocopy to TD anyway.
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