Individual Funding
💵 Accepted Currencies
DriveWealth only accepts United States Dollars (USD) for deposits and withdrawals.
Customers can fund or withdraw from their brokerage accounts through two primary methods: ACH (Automated Clearing House) transfers and Wire transfers. Each method offers distinct benefits depending on the customer's needs for speed, cost, and convenience.
🔁 ACH Transfers
Overview: ACH is a widely used method for electronically moving money between bank accounts within the United States.
Processing Time: Typically 4-5 business days.
Fees: Generally low or no fees, depending on the bank. DriveWealth charges a $0.25 fee for outbound ACH transfers
Eligibility: Requires a linked U.S. bank account.
⚡ Wire Transfers
Overview: Wire transfers provide a faster way to move funds electronically between financial institutions.
Processing Time: Same business day if initiated before the bank's cutoff time; otherwise, next business day. For Outbound wires, DriveWealth processes these same day if requested prior to 5PM ET.
Fees: Typically higher fees, which vary by bank. DriveWealth charges outbound WIRE transfer fee for each individual wire.
Eligibility: Requires accurate wiring instructions, including customer's Virtual Account Number details.
Updated 1 day ago