facebookHow do I fund my TD Ameritrade account? And do I need to convert to USD first or do the conversion there? - Seedly

Stan

28 Feb 2021

General Investing

How do I fund my TD Ameritrade account? And do I need to convert to USD first or do the conversion there?

From my POSB account, do I transfer the funds to my TD Ameritrade account? I notice here, https://www.tdameritrade.com.sg/why-td-ameritra... it says to transfer to a DBS account.

Also, do I have to convert the funds into USD first or will it automatically be converted for me? I am confused about these steps. thanks.

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Nicholas Beh

28 Feb 2021

Student Ambassador 2020/21 at Seedly

If you transfer to the DBS account, you can only deposit in SGD. They will perform the conversion to USD and the funds will appear in your account within 2-3 working days.

If you would like to transfer USD directly, you can only do so through a wire transfer to their Wells Fargo Bank account in the US. Alternatively, you can mail them a check to their SG office in either USD or SGD but not many have tested this out and it is unclear if they will levy any charges or fees.

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