Is it possible to do ACH DEPOSITS via Bank of America to AMP? BoA only seems to offer the following list of institutions that you can deposit money to via ACH: Ameriprise Financial Brokerage Charles Schwab Brokerage E*Trade Brokerage Fidelity Brokerage Merrill Lynch Brokerage Morgan Stanley Brokerage Principal Funds Money Market Scottrade Brokerage Smith Barney Brokerage TD Ameritrade US Bank If you have instructions on how to deposit funds via Bank of America, I would greatly appreciate it. Thanks.
In your Bank of America online banking portal, you will select "Transfers" > At Other Banks > (add account/recipient) enter AMP bank details > then under Frequency, select one-time ACH. If you need any additional assistance, please email funds@ampclearing.com
ACH=Automated Clearing House. It's an electronic way of getting money from point A to point B. It's all through computer, and with a guaranty of a sort, so there is usually no cost to do it. If your bank does not offer ACH transfers, GTFO of your bank, yesterday. Do not pass go, do not collect 200 bux. Just get the hell out of it. Seriously. If you are engaged in any sort of direct-deposit thingy, you are in an ACH schema. Wire transfers cost a few bucks, but with most banks ACH is free. And AMP now offers free ACH is both directions. No fees on both sides in both directions! How cool is that!?
Are we able to do these ACH deposits via Citibank? If so, how? BoA strangely charges a $3 fee for ACH deposits to an outside bank. Most other banks offer free ACH...
Yes, AMP will accept an ACH from Citibank also. should be similar processes. We can not control what your bank charges. AMP does NOT charge any fees for ACH deposits or withdrawals.
Can the ACH deposit from my bank be initiated by AMP? This is similar to what I used to do at Interactive Brokers. Interactive Brokers would initiate the ACH and take the funds from my checking account.