How Long Does it Take to Transfer Money to Checking Account After Selling Stock

Updated on May 14, 2014

How long does it take to sell stock and get the cash into a checking account?

If you think you'll soon be in a position where you need to sell stock to get money for a purchase, you'll have to do some planning ahead. Keep in mind that there are multiple types of brokerage accounts. Some will let you withdraw cash based on marginable securities. Others require a settlement period after the sale of a stock. If you have cash in a money market, you can usually transfer that cash right away, but it will still take a few days to show up in your checking account.

How long will it take to get my money?

Source

Withdrawing Against a Margin

Some accounts allow you to withdraw against a margin and then sell the stock to cover the short-term loan. These accounts will take two to three days to get the cash transferred from your brokerage account to your checking account.

Money Market Accounts

Funds that are sitting in a money market account with your brokerage will also take two to three days to transfer into your checking account.

Standard Brokerage Accounts

For brokerage accounts like a standard Fidelity account, it will take three days to settle a transaction where you've sold your stock. Then the cash will be available to transfer. Depending on the time of the day that you initiate a transfer, it usually takes two to three days for the funds to show up in your checking account. So, the entire period can take up to six days to sell stock and get the money deposited into your checking. If you don't transfer the money the same day that the sale transaction settles, it may take even longer. Remember, you cannot initiate the outgoing transfer to your checking until the sale settles.

Think you'll need money quickly? Plan ahead!

Source

Liquidating Stock for a Purchase

In conclusion, if you're going to need to liquidate a stock position for a purchase (like a down payment on a home or urgently-need cash to cover a check) you will want to make sure you understand the type of brokerage account you have. By figuring out your account type, you can find out if the cash can be transferred right away or if there is a settlement period. Poor planning for situations like these can cause stress and financial woes, so make sure you plan ahead.

How long does it take you to transfer money to your checking account?

My brokerage account

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Questions & Answers

  • Is a paper check issued if I sell stock?

    The preferred way to get the cash after a stock sale is an electronic transfer, but some brokerages will send checks for things like 401k fund transfers and closing accounts.

  • If I want to get some money out from a stock that has made me some money, do I have to sell my stock or can I get some of my gain out without selling any shares?

    For pure stock transactions where there is no margin account, securities need to be sold to realize a gain.

Comments

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    • De Greek profile image

      De Greek 

      8 years ago from UK

      Good stuff, tahnks :-)

    • tim-tim profile image

      Priscilla Chan 

      8 years ago from Normal, Illinois

      Good info. I agree with Melinda that Charles Schwab is a good company but their fee is probably higher than most of the company. Do some research before you sign up with a company. Don't just look for the price either. See if they have satisfied customers. That is important!

    • JYOTI KOTHARI profile image

      Jyoti Kothari 

      8 years ago from Jaipur

      Hi Paul,

      Thanks for sharing. Perhaps you are referring system in the US. It is little different in India and may be in other countries.

      Thanks and thumbs up!

      Jyoti Kothari

    • Ten Blogger profile image

      Ten Blogger 

      8 years ago

      Good tips . I think it is a good idea to set aside money for emergencies in this ecomony. You should have a cash cushion such that you are able to get by at least 6 months without external help.

    • Springboard profile image

      Springboard 

      8 years ago from Wisconsin

      I like to keep a fairly proportional amount of money in cash, mainly because I like to make stock sale decisions based on stock performance and achievement of anticipated ROI rather than on the need for cash...

      That said, there ARE times when substantial amounts are needed.

      But really you shouldn't be cashing out stocks for things like a new roof, car repairs, or Christmas shopping UNLESS those stocks have met their performance first.

      Buying a house on the other hand is quite a different thing. :)

    • msorensson profile image

      msorensson 

      8 years ago

      Charles Schwab has been very good about this.

    • ethel smith profile image

      Eileen Kersey 

      8 years ago from Kingston-Upon-Hull

      Good advice

    • Hello, hello, profile image

      Hello, hello, 

      8 years ago from London, UK

      Great advice and interesting read. Thank you.

    • sheila b. profile image

      sheila b. 

      8 years ago

      You told me something I didn't know before. Thanks.

    • Darlene Sabella profile image

      Darlene Sabella 

      8 years ago from Hello, my name is Toast and Jam, I live in the forest with my dog named Sam ...

      Thank you for another great hub and your wise advise on stocks, I'm not a stock person but I enjoyed reading your hub.

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