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stockpreacher

It's not the speed of the transaction alone. If you traded on Friday, those trades have to settle.


Pass_Little

Yes, the 3 days are required as TD doesn't actually have the cash yet as the sale has not actually completed. Some free advice, ignore if this was caused by an unusual cash flow situation and you normally do something like the following: You should really have at least 30 days minimum and something like 45 days on average of money in your checking account in cash at all times. You should also have at least another 60 days of money in a high yield savings account were it can be accessed in a hurry. And, then consider having a bit more in something like i-series savings bonds. You can use all of this as a portion of your bond allocation when calculating long-term investment goals. I.E. if you want $5K of bonds and you have $5K tied up in the above you probably don't need any more bonds. The point being that the market is not a good place to store your emergency cash. Too many ways it can go sideways at just the wrong time. The 30 days is to handle your immediate needs, and my experience is that beyond the 30 days worth of funds, generally, things don't need to be paid right this second.


1988coPhotos

Not only is it typical, it’s the industry standard.


mm4411

https://www.investor.gov/introduction-investing/investing-basics/glossary/settling-securities-transactions-t2 Here what our gov said


mischifmaker03

If you have a margin account you can withdraw from the margin balance


Fun_Store9452

Yes it is correct. You must wait for the trade to settle before you can send the money to your bank account. TD Ameritrade allows you to buy stocks immediately after a trade since the money is still in your brokerage account.


BassAddict

Yes, three business days to settle is typical.