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TD Ameritrade: HOw can I pay off my margin balance? |
I bought a stock on margin a couple days ago and sent a deposit to cover the margin amount to avoid having to pay interest on the margin. But when the funds got deposited, it went directly to my money market. I now have a big chunk in my money market and still a big negative balance on my margin balance. What gives! Does TDAmeritrade automatically apply towards the margin balance for me? If so, would I still have to pay interest until they decide to "automatically" apply it for me? I would call their customer service line directly. They can move stuff over immediately and credit you back the amount of interest from the time you deposited the money. Usually, when I deposit money into TD Ameritrade it gets directly credited to my trading account, no intervening MM deposit. If not, complain, complain, complain, ask for a supervisor as the phone guys are powerless. There is always Etrade if they won't do anything. Also, maybe a check takes longer than an account transfer? I don't know but they should clear this up for you I would expect. |
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