|
Affina Brokerage Services
Frequently Asked Questions
What is the minimum amount needed to open a brokerage account?
To activate your new account and begin trading, Affina requires that the account be funded with a minimum opening deposit of $1,000.00 for a cash account or $2,000.00 for a margin account.
The opening deposit can be cash, fully paid securities or a combination of both.
How do I open an Affina Brokerage account?
To apply for an Affina account, complete the application, make a copy of your official identification (e.g., drivers licenses or passport) then have the account holders sign the application.
Send the completed and signed application to Affina along with the opening deposit of cash and/or securities required to establish an account.
Affina Brokerage Services
Attn: New Accounts
600 Midland Avenue, Suite 101
Rye, NY 10580
You will be contacted upon receipt of your application.
How do I deposit funds when I first open my brokerage account at Affina?
Checks and cashier's checks should be made payable to Pershing LLC, our clearing firm.
Please indicate your account number on the face of the check
If the deposit is for a new account and no account number has been assigned yet, indicate "For New Account"*
If this is an IRA account, please indicate the year for which the IRA contribution is being made, the type of contribution and complete the IRA Contribution Form
Affina or Pershing LLC does not accept cash
Pershing LLC does not accept third-party checks for deposit (third-party checks are checks payable to any party other than Pershing LLC and then endorsed to Pershing LLC)
*Upon receiving your check or cashier's check along with completed applications and forms, Affina will establish an account number for you and credit your new account with the funds. You will receive a Welcome Letter which provides detail on your account number and contact information at Affina.
How can I automatically move funds between my brokerage account and my credit union share draft account?
By completing the ACH Form, you can have the proceeds from the sale of securities moved directly to your USAlliance Federal Credit Union Share Draft Account. In addition, anytime you purchase securities, the payment for this transaction can be covered by the funds in your USAlliance Federal Credit Union Share Draft Account funds.
Where do I deposit funds if I already have a brokerage account established with Affina?
Subsequent deposits should be mailed to: (include your account number on the front of the check)
Pershing LLC
Money Desk, 14th Floor
One Pershing Plaza
Jersey City, NJ 07399
Or, you can drop off your deposit at the Affina offices at 600 Midland Avenue, Suite 101, Rye, NY 10580
Please remember the following:
To include your account number on the face of the check
Affina or Pershing LLC does not accept cash
Pershing LLC does not accept third-party checks for deposit (third-party checks are checks payable to any party other than Pershing LLC and then endorsed to Pershing LLC)
How long after I deposit funds into my brokerage account will I have to wait to access these funds?
If you are purchasing securities, your funds will be available to you the following day of the deposit.
If you deposit a check into your account and make a request for funds from your account shortly thereafter, you must wait 10 business days from the date that we deposited your check before those funds will be available to you for distribution.
How do I take a distribution or withdrawal funds from my Affina Account?
There are several ways in which you can request funds to be withdrawn from your brokerage account:
You can make a check request by calling Affina Brokerage Customer Support at 888-423-3462. The check will be sent to your address of record that is on file (if you have a collateral account, the check would be sent to USAFCU share draft or loan account).
If your account is linked to your bank account you can make an ACH request by calling Affina Brokerage Customer Support at 888-423-3462. The funds will to be transferred to your bank account and will arrive the following business day. Please note that the cut off time to do an ACH request is up until 2:30 p.m.
If you have an IRA account, you would need to complete an IRA Distribution Form and either fax it in or send it via mail to:
Affina Brokerage Services
600 Midland Avenue, Suite 101
Rye, NY 10580
FAX: 914-881-3474
How do I deposit security certificates into my Affina Brokerage Account?
To deposit stock certificates that you have in your possession into your Affina Brokerage account, please fill out the back of the certificate, providing the following information:
1. Appoint Pershing LLC (our clearing firm affiliate) as attorney to transfer the stock
2. Sign the back of the certificate. Note: the signature(s) must reflect the names of all parties shown on the face of the certificate exactly as they are titled (if the name shown on the face is Jonathan J. Doe, signing as John Doe won't work)
3. Include the date on the back of the certificate, right after the signature(s)
4. Include your Affina account number near the signature(s) (there is no space provided specifically for this information, but please make sure the account number appears so we can correctly post the securities to your account)
For added security, you may choose to use a Stock Power Form. Print out the form and complete the above information on the form instead of the certificate and mail the certificate and stock power separately. Once a certificate is received by Pershing LLC, it will be credited to your account. All certificates are checked for lost or stolen status with the transfer agent prior to crediting the account. As a further precaution, we recommend sending your certificates via express, insured or certified mail.
How do I transfer an account from another Brokerage Firm?
Transfer all or some of the assets in a brokerage account at another firm into your account at Affina. Simply follow the instructions on the Transfer (ACATS) Form and mail or fax the form to us at:
Affina Brokerage Services
600 Midland Avenue, Suite 101
Rye, NY 10580
FAX: 914-881-3474
We will contact your existing broker and make all the arrangements for you.
It is important to note that the transfer of assets can only be done using cash/cash equivalents and not specific account holdings.
How do I transfer an account from the USAlliance Credit Union?
Conveniently transfer cash and/or securities from your USAlliance Federal Credit Union account. Simply complete the Transfer Form and mail it to us. We will contact the Credit Union and work directly with USAFCU to transfer your funds into your Affina Brokerage Account.
You can always call us at 888-423-3462 for assistance in transferring your accounts.
How do I wire funds (domestically) to my Affina Brokerage Services account?
Bank Name: The Bank of New York
Bank ABA #: 021-000-018
A/C Name: Pershing LLC
A/C #: 890-051238-5
Further Credit: Your Account name and Affina Account Number
|
