IRA partial asset transfer of cash from Etrade and fee

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I plan to partial asset transfer IRA cash only from ETrade  using TD Ameritrade online transfer. I know ETrade  charges $25 for partial asset transfers for securities but I am not sure if that also applies if the partial transfer is cash only. Does anyone have experience in this area?

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If it is a cash transfer, why not such ACH the money. I am pretty sure there is no fee for that.

A cash transfer by ACH shouldn't cost you anything.  If it does, have them send you a check instead.

"Asset transfer" usually refers to the transfer of securities.  There's some legwork involved, so a service charge makes sense.

fwuser12 said:   If it is a cash transfer, why not such ACH the money. I am pretty sure there is no fee for that.
  I forgot to add this is IRA cash and not regular cash transfer and is handled not as normal ACH transfer but it goes through IRA partial asset transfer to avoid being coded as distribution from IRA and tax/penalty.

Cash transfer is still considered an asset transfer and subject to the transfer fee.

Only way to avoid that fee is to do an indirect rollover by taking a distribution (via ACH/wire/check etc) and completing the rollover yourself within 60 days but then you just used up the the once-a-year indirect IRA rollover allowance.

The receiving firm might reimburse the transfer fee.  YMMV.

seawolf21 said:   Cash transfer is still considered an asset transfer and subject to the transfer fee.

Only way to avoid that fee is to do an indirect rollover by taking a distribution (via ACH/wire/check etc) and completing the rollover yourself within 60 days but then you just used up the the once-a-year indirect IRA rollover allowance.

The receiving firm might reimburse the transfer fee.  YMMV.

  Thanks, that answers my question but unfortunately I have to do this every month to move IRA cash from interest/dividend payments in my ETrade  account to TD Ameritrade to consolidate cash for free trades, etc. at TDA.

ToddC said:   
seawolf21 said:   Cash transfer is still considered an asset transfer and subject to the transfer fee.

Only way to avoid that fee is to do an indirect rollover by taking a distribution (via ACH/wire/check etc) and completing the rollover yourself within 60 days but then you just used up the the once-a-year indirect IRA rollover allowance.

The receiving firm might reimburse the transfer fee.  YMMV.

  Thanks, that answers my question but unfortunately I have to do this every month to move IRA cash from interest/dividend payments in my ETrade  account to TD Ameritrade to consolidate cash for free trades, etc. at TDA.

Consolidate or put both accounts under one roof. 

ToddC said:   
seawolf21 said:   Cash transfer is still considered an asset transfer and subject to the transfer fee.

Only way to avoid that fee is to do an indirect rollover by taking a distribution (via ACH/wire/check etc) and completing the rollover yourself within 60 days but then you just used up the the once-a-year indirect IRA rollover allowance.

The receiving firm might reimburse the transfer fee.  YMMV.

  Thanks, that answers my question but unfortunately I have to do this every month to move IRA cash from interest/dividend payments in my ETrade  account to TD Ameritrade to consolidate cash for free trades, etc. at TDA.

  Any reason why you are not moving the entire account over TD?

I have done a partial IRA asset transfer recently and I am not qualified for another one for a while. I'll transfer the rest once another promo comes around.

ToddC said:   I have done a partial IRA asset transfer recently and I am not qualified for another one for a while. I'll transfer the rest once another promo comes around.
  Not sure what you mean by that

You can do as many direct rollovers as your want subject  to (exit) transfer fee from ETrade .

seawolf21 said:   
ToddC said:   I have done a partial IRA asset transfer recently and I am not qualified for another one for a while. I'll transfer the rest once another promo comes around.
  Not sure what you mean by that

You can do as many direct rollovers as your want subject  to (exit) transfer fee from ETrade  .

  Sorry for not being clear. By qualified I meant qualified to receive a 2nd bonus not qualified to do a transfer. In the 1st promo (TDA) I did a partial transfer of some securities and no cash.

To avoid the fee for cash transfer do an indirect rollover.

full transfers free?



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