Anyone here with experience closing out Zecco account?

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cflannagan
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Joined: Sun Oct 21, 2007 11:44 am
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Anyone here with experience closing out Zecco account?

Post by cflannagan »

I only want it to be as quick and painless as possible - I know that their service is somewhat on the shady side. I have sold off last of securities today, and have been reading the fine print in their fees list.

They charge $20 plus interest for cash withdrawal prior to settlement date. So I'm going to wait at least 5 business days more before I consider withdrawing anything. Is that enough time?

Do they allow one to withdraw every last penny prior closing the account? Or are they going to try to be clever and throw an obstacle at me? I hope not :)
Last edited by cflannagan on Wed Apr 02, 2008 10:44 am, edited 1 time in total.
ilisira
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Post by ilisira »

Hi,

I did not close my zecco account, but withdrew all money just two weeks ago. So, they are not trying to be clever :). For the $20 charge, just wait for a couple of days (for me, the last time, it was two days), and they will not charge it.
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cflannagan
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Post by cflannagan »

Thanks - and welcome to Bogleheads forum! (I noticed that was your first post).

How come you haven't closed out the account yet? Planning on funding the account again later or waiting for something else? If you don't mind me asking?
ilisira
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Post by ilisira »

Thank you very much for the welcome. I am planning to close the account (everything there is in Vanguard funds now, it was just some play money, and after discovering this forum, I have decided not to play with money, but invest).

For not closing the account, I was not sure if I will need the account to buy some Vanguard ETF's, so I just left it there.
am
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Post by am »

I have had no problems with zecco. They have good customer service. No hidden fees (so far) and best of all free trades (minus spread)
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