Frequently asked questions
All FAQs about margin
Funds must be available for withdraw on the date the withdrawal is scheduled to be issued. Requests from margin accounts with insufficient funds will invoke an extension of credit as outlined in the Customer Account Agreement:You acknowledge that Margin Accounts, which allow the purchase of securities on credit, enable you to increase the buying power of your equity and thus increase the potential for profit or loss. A portion of the purchase price is deposited when buying securities on margin and Pershing extends credit for the remainder. You understand this loan appears as a debit balance on your monthly account statement. Pershing charges interest on the debit balance and requires you to maintain securities, cash or other property to secure repayment of funds advanced and interest due. You understand that interest will be charged for any credit extended to you for the purpose of buying, trading or carrying any securities, for any cash withdrawals made against the collateral of securities, or for any other extension of credit. When funds are paid in advance of settlement on the sale of securities, interest will be charged on such amount from date of payment until settlement date. In the event that any other charge is made to the Account for any reason, interest may be charged on the resulting debit balances. You authorize TIAA to transfer securities held in your cash Account to your Margin Account.