MEXEM FAQ Tags

transfer

General Questions

What is ACATS?

The Automated Customer Account Transfer Service (ACATS) is the National Securities Clearing Corporation's (NSCC) central processing system for the transfer of positions and accounts between US brokerage firms that are participants in the NSCC's ACATS program.The ACATS system allows you to enter a partial or full transfer request online to move positions and or cash from other ACATS participant firms.More information on ACATS transfers can be found in our Users' Guide.

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My Account & Login

What happens to my account in the event of my death?

For TOD accounts, beneficiaries contact MEXEM Client Services. In other cases, the executor or joint account holder emails estateprocessing@interactivebrokers.com to notify MEXEM. The account is classified as deceased, with activity halted until legal authority is established. Required documents vary based on account type and country. Probated Estates receive distributions in the estate's name.

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Funds & Banking

How long does it take for an internal transfer of funds?

Internal funds transfers process instantly during trading hours or the next business day if submitted after hours. Funds under a hold period, such as from a wire deposit, cannot be transferred. More info in our Users' Guide.

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Funds & Banking

How do I transfer funds to MEXEM?

To deposit funds into your MEXEM account, log in to Client Portal/Account Management and go to Transfer & Pay > Transfer Funds > Deposit Funds. Choose the currency and follow the provided instructions to initiate the transfer with your bank. After finalizing the deposit notification, you may need to contact the transferring establishment with the necessary details. For more information, refer to the available resources on transferring positions, available methods for fund transfer, and third-party deposits.

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General Questions

How can I make a charitable transfer of securities?

MEXEM allows securities transfer to qualified charities under certain conditions: the security must be a U.S. stock, warrant, or bond; eligible for DTC transfer; and the charity must be DTC-ready. Requests must be made via the Charitable Gift Transfer form. Cost basis for partial share transfers will be determined by your default tax lot identification method.

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Funds & Banking

Can I transfer funds or positions internally from an individual account to a joint account?

You can request a manual internal transfer of funds or positions from an individual account to a joint account on an exceptional basis. Log in to Client Portal/Account Management and submit the request via webticket in the Message Center. Please be aware that this process may take several weeks to complete.

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