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Frequently Asked Questions
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Depositing Checks and Securities
How do I deposit cash into my account?
How do I deposit securities into my account?
How do I deposit cash into my account?
IMPORTANT
Do not wait for your printed trade confirmation to arrive through the mail before sending payment or securities to cover your trades. You risk missing the settlement date and you may incur late charges and/or Compass Brokerage may be obligated to take appropriate action. You can see the total amount due by clicking on the "Portfolio" button on any page you are viewing. Then select "Balances" and look under "Funds Due."
When depositing checks into your account, be sure to write your CompassWeb Brokerage account number on your check, and make the check payable to Compass Brokerage. Please note that Compass Brokerage, Inc. cannot accept cash, money orders, third party checks, corporate checks in non-corporate accounts, or credit/charge cards and their associated checks.
You can make deposits to your account by sending a check via U.S. mail, overnight mail or certified mail. Compass Brokerage, Inc. restricts withdrawals of funds deposited by check for seven (7) business days after receipt of the check. However, this withdrawal restriction does not affect automatic investment into a money market fund, reduction of any debit balance or the ability to pay for, or purchase, additional securities.
If you are depositing checks by mail into your non-retirement account, please mail to:
Compass Brokerage
P O Box 10566
Birmingham, AL 35296
or overnight to:
Compass Brokerage
15 South 20th Street, Suite 604
Birmingham, AL 35233
If you are depositing checks by mail into your retirement account, make sure to include your contribution form(s) and indicate the year that you would like the contribution applied to on the check.
To wire funds to your Compass Brokerage account, tell the firm wiring funds on your behalf to direct them to:
Chase Manhattan Bank
ABA 021000021
DLJ Pershing Division
Account 930-1-032992
For further credit to: (your name and Compass Brokerage account number)
How do I deposit securities into my account?
If you are sending securities to Compass Brokerage, please follow these steps:
- Print you nine-digit CompassWeb Brokerage account number in the upper right-hand corner on the front and back of each certificate.
- To protect you against loss or theft, appoint "DLJSC" as attorney in the space provided on the back of each certificate -- it should be written after the words "do hereby irrevocably constitute and appoint...". This renders the certificate negotiable only by our clearing firm.
- Date and sign the back of each certificate, exactly as the name(s) appear on the front of the certificate(s). All parties whose names are on the certificates must sign.
- Mail your certificate(s) via overnight mail to:
Compass Brokerage
15 South 20th Street, Suite 604
Birmingham, AL 35233
If you are depositing a certificate into a custodial account under the Uniform Gifts/Transfers to Minors Act in your state and the beneficial owner is a minor, the custodian must sign the certificate.
If a certificate is in the name of a corporation, you must send a signed Certificate of Corporate Resolution to sell and transfer securities with a raised seal for each security that is being deposited. The Certificate of Corporate Resolution and each certificate must be signed by a corporate officer designated in the Certificate of Corporate Resolution. Compass Brokerage, Inc. may require additional documentation if circumstances dictate.
If you are depositing a certificate into a trust account, all trustees may need to endorse the certificate. Compass Brokerage, Inc. may require additional documentation if circumstances dictate.
If the certificate is registered in a deceased person's name, a custodial name for the benefit of an individual over the age of 18, or if the certificate is not in the name of the account holder, please call 1-800-239-1930 to speak to a Compass Brokerage Representative.
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