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PAPER CHECK: Checks Subject to 10 day hold.

1. Please make ALL checks payable to: APEX CLEARING CORPORATION

2. Please include your 8 digit MB Trading account number in the memo field of the check. 

Example:

3. All checks must be mailed to: 

MB Trading

1926 E. Maple Ave. 

El Segundo, CA  90245

United States of America

Checks made payable to MB Trading WILL NOT BE ACCEPTED.

Important Note: 

The firm is unable to accept the following funding types:

  • Any funding not made payable to Apex Clearing Corporation
  • Third Party Wires and Checks(defined as any account other than one of the same name as the account title held at MB Trading )
  • Traveler’s Checks
  • Credit card checks
  • Checks drawn against lines of credit or lines of equity
  • Money Orders
  • Cash
  • Cashier’s checks/Official checks for deposit to foreign accounts
  • Temporary Checks
  • Preprinted expiration dates on checks
  • Unsigned checks
  • Funds for accounts that have not been opened
  • IRA Funding not accompanied with an IRA Deposit Slip

Unverified Funds: Checks may be subject to a 10 business day hold before funds are released for trading if the firm is unable to verify the funds with your financial institution.

Foreign Accounts: Apex’s policy requires that any check or ACH deposits into international accounts must remain in the account 30 days before any withdrawal may take place. Additionally, Apex will not accept cashiers checks for international accounts. Any items drawn in foreign currencies or against a foreign bank will be sent for collection. The customer will not be credited for deposit until the bank has collected the funds from the foreign institution and covers Apex for the item converted into USD funds.

Penalties for Returned Check Deposits - In the event that a check is returned unpaid from the paying bank, a $25 fee will be charged and the account will be asked to send funds in an alternate method (wire, cashier's check, or certified funds). The following penalties will be enforced for any check deposited into a customer account that is returned unpaid by the paying bank regardless of the reason for the return:

1st returned deposit for any reason results in a warning. However we will require alternate method of deposit.

2nd returned deposit for any reason results in a 90 day restriction of the account.

3rd returned deposit for any reason results in account closure for 90 days (liquidating transactions only)

 

 

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