An ACH, while electronic, is similar to a check in that the funds are not guaranteed. As a result, they are subject to a hold period of 4 business days after arrival. The ACH deposit credit hold period is released at the time of U.S. regular market open on the 4th business day.
MEXEM, as the originator of the transfer request, imposes this hold as it is obligated to return the funds to your bank, without recourse, should your bank later decide the transfer request to be unauthorized or in error. While your bank generally has the right to verify and request a return of funds well beyond MEXEM’s hold period, past experience has proven a 4 business day hold sufficient in most instances. Note that ACH deposits are eligible for credit interest from the date the deposit arrives and through the hold period.
Clients who need instant use of deposited funds are encouraged to use bank or broker wire transfers which are irrevocable and are therefore credited to your account and available for trading purposes instantly upon arrival. MEXEM does not charge for incoming wires for any currency with the exception of the Mexican Peso.
Information on limitations, credit and withdrawal hold period for ACH deposits can be found on our website.