Assuming you are a US-based client... ACH details: AMP Global Clearing, LLC Customer Segregated Funds via ACH. AMP Global Clearing, LLC Customer Segregated Funds 221 N. LaSalle St. 25th Floor Chicago, IL 60601 Account Number: 1610807 ABA Number: 071000288 For further credit to: {Trading Account Name} AMP Account Number: {Trading Account Number} *ACH deposits will be made available in 3-5 business days after an ACH is received. How difficult it may be for you depends on many factors, such as what country you reside in. You can also write them a bloody check if it's so impossible for you to figure out. PLEASE NOTE: Due to current COVID-19 and Civil Unrest in Chicago, Mail Delivery is very slow. We are processing all Checks when they are received, but due to this current situation, please consider using Bank Wire or ACH for deposits. MAKE ALL CHECKS PAYABLE TO AMP Global Clearing LLC. Mailing Address: AMP Global Clearing, LLC 221 N. LaSalle St. 25th Floor Chicago, IL 60601 We only accept checks drawn from U.S. Banks We accept personal checks All personal checks will be held 5 business days to clear We do not accept cashier’s checks, money orders, third party, or traveler’s checks Include your AMP trading account number in the Memo Section of the Check
I am a US client. I took the exact info you showed in your post to the bank. AMP has it on their website. I took a snapshot. The bank took one look at it and said AMP IS THE ONE that has to ask my bank for an ACH. Not the bank send an ACH to Amp. Amp has to initiate it. How can AMP be so ignorant as to not know that. I actually think they know. They just apparently want to act like the can offer ACH but can’t. That is not good advertisement. No bank will do what AMP says.
Indeed. Then get it from the horse's mouth, as it were. @AMP_Global That is their bat signal. If they see it, they should be able to help you.
That's a limitation of your bank then. Given a routing and account number, which is provided there, any bank is capable of making an ACH deposit. Your bank my just not offer that service or not offer it on your account type. I run a business which makes thousands of ACH payments every month so I know the NACHA system that underlies ACHs like the back of my hand, and there's nothing stopping a bank from making an ACH payment with that information.
You are probably doing the ach from business account. Try from a personal account to a business account (like AMPS account) and it cannot be done. At least I have not found a bank who will do it. And AMP requires the name on the Bank account match exactly the name on the account the trader has with them. So you can’t have a personal account with ones name matching one’s name on their AMP account and PUSH (trader initiating the push) funds from personal account to Amp. The banks will not do personal to business ACH push. They say AMP has to be the one asking for or requesting the funds from the traders personal account to to Amp via ACH. They will not allow me initiating and trying to push a ACH amount Of $$$ from my personal to AMP (a business). At least mine won’t. And several others. Amp has to know this and they just do not want to initiate an ACH request to a traders personal bank account so AMP just gives one the run around. Many complaints about this. It is ridiculous. Amp shouldn’t offer ACH if they won’t do it via requesting the ACH from the traders personal bank account. I have recurring ACH’s monthly that businesses take funds from my account. All I ever had to do was give the business my bank routing number, name on the account, and my account number. They took it from there. Apparently AMP just doesn’t want to be bothered doing that! Ask markbrown here on ET if he had any luck setting up ACH with AMP. I think he used the word “impossible” if I am not mistaken.
"At least yours won't" is the key statement there. I've made 2 such ACH transactions in the last week from my personal BofA account to a business account of a third party company, one of which was in another country! I can tell you from firsthand experience that BofA and PNC are happy to do it, if your bank won't it's probably a very small regional bank or credit union. It's worth getting an account at a real bank just for the payment ability if nothing else. You don't have to get rid of the account you use but at the very least you indicated your bank will do a personal transfer to another account in your name. So set up a BofA account in your name, transfer funds from your bank to that account when you need the services of a real bank, and then do what you need to from your BofA account. Note that my experience is with banks in the U.S. and Canada. If you're outside the U.S., which I realize is a very real possibility on this international forum, you may very well be subject to issues I'm not aware of.
One of My banks IS PNC. They would not do an ACH transfer “push” from my personal account to AMP when I took the AMP‘S info to them that AMP supplies on their website for ACH. PNC told me In person that AMP has to initiate the ACH. I am located in USA. Live here and have my bank account here.
@Sig read about the problems others are having here: https://forum.ampfutures.com/forum/...ne-having-trouble-sending-money-via-ach/page2 Read the comments on page 1 of the link also.
I don't know what to tell you except to hang up and try again. Maybe preface the situation differently and ask "I would like to make an ACH transfer to a company. I have their routing number and account number as well as their address", in case the person you're talking to gets freaked out by the whole brokerage account concept for some reason? Keep in mind, bank tellers are essentially minimum wage employees and while some are great (my spouse worked her way through college doing it), you don't get the cream of the intellect crop paying what they do for that job. You can also ask them to do a wire, although obviously paying the wire fee sucks.