Customers have 3 options to fund their accounts. It is very important to note that incoming and outgoing activity can only be conducted with an account owned by the same customer. 

Funding options are:

1. US Bank Deposits

2. International Wire Deposits

3. Stock Transfer

Third party wire transfers, deposits or stock transfer will be rejected.

Guided Linking

Temporarily the automated and the manual linking service are disabled. However, if you are still interested in linking your bank account, we are offering a guided service. Please write to us at support@folionet.com.

After linking your US Bank account you can submit your deposit.

An ACH is a transaction similar to a wire transfer but can only be conducted between accounts located in the US (such as Bank of America, Wells Fargo, Citibank, etc). To create an ACH transfer is an easy process where the customers provide their commercial bank info to Folionet, and the funds are transferred from the bank into the brokerage account (no need to contact the customer’s bank).

The basics of ACH:

1. After the bank account is linked to the Folionet account, the customer can begin to transfer or withdraw funds.
2. Once the client submit a deposit or a withdraw, this entries are transmitted electronically.
3. The deposit time frame will be around 4-5 business days.

Deposit Time Frame:

Settlement time for any deposit takes about 4 to 5 business days.

Deposits Reversals:

A deposit reversal is a canceled transfer of funds. The cause of this reversal could be: wrong routing number, insufficient funds, wrong account type, wrong account number, or a declined transfer.

Reversed deposits will be transfer to the client bank account and your Folionet account will be charged a $30 fee.

When reversed, funds will be placed back in the originating account and your Folionet account will be charged a $30 fee. This $30 fee is charged by Folionet’s clearing partner APEX.  Folionet is not authorized to waive fees after they have been charged to your account.

We encourage our clients to do the following steps before initiating deposits to their Folionet accounts in order to prevent deposits reversals:

• Confirm your account number and routing number.
• Verify that your bank account have sufficient funds for several days after you initiate your deposit.
• If you are using a Savings Account to deposit funds, please remember that some transactions limits per month may apply.

APEX Clearing Corporation & the ACH System

Apex is Folionet’s clearing partner. They partner with BMO Harris to handle all ACH transfers, trade confirmations, settlement, and securities delivery for Folionet.

An ACAT (or Automated Customer Account Transfer) is a process where the customer can transfer securities and cash held at another institution into their Folionet account. To obtain the required form please contact us at support@folionet.com.

Types of Securities Supported:

Currently, we only support securities listed for trading on the Folionet Platform. If you are trying to transfer mutual funds, bonds, options or any other type of security not supported on Folionet, your transfer will be rejected.

Fractional Shares:

Currently, we do not support fractional shares.

Time Frame:

The average time for a Stock Transfer is between 5-7 trading days. Delays can be related to untransferable assets.

Leverage Accounts:

We will review and accept leverage accounts according to our internal margin policies.

Customer who would like to send funds back from their brokerage account to their bank have 2 options:

1. Transfer to your bank (US Bank Withdraw)
2. International Wire Withdraw

To transfer funds back to a US Bank account or via international wire please request a transfer form to support@folionet.com.

Withdrawal Limitations

Settlement Period 

Before you can withdraw funds to your bank account, this funds must be settled. The settlement period of a transaction usually takes T+2 (the trade date plus 2 trading days). After this period, the funds will be available to withdraw.

Withdrawal Holding Period

All the fund’s deposits to your Folionet account, require a holding period of six (6) business days before they can be withdrawn. We must comply with the anti-money laundering procedures.

Anti-Money Laundering (AML) Withdrawals Regulations

For anti-money laundering procedures, all funds received from a bank account must return to the same bank account. If you want to make a withdrawal to a different bank account, your funds must stay in your Folionet account for at least 60 days.