Arrrgh! Anyone here use E*Trade?

[bdog]

I have set up a new account. I mailed them a check last week. They received it and my account is open, but it is showing a zero balance until my check clears I assume. Anyone have any idea how long it takes for the check to clear them to allow me to start trading? I have been doing pretend trading while I am waiting and their delaying my account opening is costing me about $50 a day.

[Axel]

next time you open such an account - go to your bank and arrange for a wire transfer of funds so you don't have this delay. It costs a little, bit, in your case at least, it might be worth it.

I'm a buy & hold type myself. I've seen varying statistics which indicate the buy & hold types make more over time than do the vast majority of on-line traders. We also seem to enjoy a less stressful & longer life.

As to your original question - that would depend on which bank holidays your institution honors and the speed with which the check recipiant has forwarded the check for payment.

I'm sure both organizations have massive legal disclaimers you unknowingly signed upon opening your accounts making this delay not actionable by you in any legally binding sort of way.

[bdog]

Yeah, I thought about wiring them the funds or sending a certified check, but they didn't mention anything about it or that it may speed things up for you. The only option the had if you wanted to expedite things was to fed ex them your check. Oh, well. I was just curios as to how long it was going to take.