Automated Clearing House (ACH) deposits/withdrawal may be made to your MEXEM account from and to your bank. ACH transfers are only available for US Dollar deposits from an account held in your name at a U.S. bank that allows ACH deposits. To fund an account in USD from a bank located outside of the U.S. you can use a Bank Wire, please see: How do I fund my account via bank wire?
Prior to using this method you will need to create a standing instruction through Client Portal which authorizes MEXEM and your bank to electronically transfer funds between the two accounts.
You will be asked to verify your bank in one of two ways:
- Traditional: We will issue test transactions in the form of small debit and credit amounts to your bank account. Note that this request does not actually move your funds.
- Instant: You will be asked to select your bank and enter your username and password to verify your credentials immediately. Note: Instant ACH verification uses a third party service.
Once established, this transfer method can be used for future deposit and withdrawal requests.
- The process to connect your bank account so that it can be used for ACH deposits and withdrawals can only be initiated from your MEXEM account and not at your bank
- ACH can be used only to transfer funds from an external bank account; it is not possible to deposit funds via ACH from an external brokerage account
More information on ACH transactions can be found on our Users’ Guide.