ACH Transfer Lost Check

[morrnel]

jb999 , I will not send wire transfer unless they accept to pay the $40 wire fee. They insist sending to the published P. O. Box. You are right about it catching up to them.

I will be offering coaching services to rookies and they will need a reliable and cost effective solution.

EDIT by NinjaTrader_PatrickG : You tagged the incorrect person.

[LeonK]

morrnel No progress with ACH so far. I have an account with IB and using NT for charting. IB offers unlimited free ACH transfers in and free once a month out. I take my profit from the account at the end of every month via ACH. Any extra withdrawal same month is $1. I am planning to fund my account with NT when they resolve this issue. I am not going to pay $40 a month for withdrawal and neither do wire transfers or checks, it's an income account, not a wealth building one. Wire transfers and $40 withdrawal fee kill the whole thing.

[rontronimous]

I agree not having ACH is an issue. I gave up on my last check after 4 weeks. In all my life no piece of mail has ever been lost, so I find it hard to believe that they lost this one. So it feels like a Phillips brokerage issue or their mail room. In either case not a good customer service thing. Now I am out both a wire fee, and a stop payment fee. Maybe I should go back just fund my other account that takes ACH.

I feel like Philips look at NT clients as more of a hassle than looking at them as actual customers. Kinda like how restaurants feel about Ubereats. It's a bit disheartening but NT support has always gotten back to me fairly quickly. I've never mailed a check in, admittedly

[rontronimous]

morrnel. Sad just sad. So what is the right address? If what the really want to require is wire transfers just require it and be honest. I might not like it, but I would respect it and I’d have an have a decision to make. Most likely I’d just do the wire transfers. Instead I am here questioning the integrity and honesty of both ninja trader and Phillips capital. They do need to fix it either way or at some point it will catch up with them.

I agree with a quality IT team, if someone wanted ACH it would be done in a few weeks.

I don't even think weeks, the structure is already there, you're just implementing it. They (Philips) just didn't want to spend the money.

[morrnel]

@LeionK IB?

[morrnel]

The ACH has FINALLY been implemented. It does work like it is meant to. I'm tech and had implemented ACH in the 1990s. Not a difficult thing to do. In this day and age it is a no brainer. The excuse may be that NT was developed in the early 2000s. Since then, several other introducing brokers have appeared on the scene. My plan is to help people become traders. NT is great if you want to be stuck to your desktop.

The issue has not been with Phillips as they provide ACH for other IBs. But the postal component is screwed up. And that is NT's fault because that is where the buck stops.

I'd like to hear from others who have great customer service. This forum is well supported and that is where customer service stops. My complaints fall on deaf ears.

[LeonK]

morrnel IB = Interactive Brokers. Have been with them for awhile, never had an issue. They are pretty good at what they do. The main reason for me to move to NT is back-testing / programming strategies. Much better than IB's algos or TOS. I tried NT with IB data feed, and I want a better data feed. I'll check out their new ACH, thank you for letting me know. Curious to learn more about your service, if you care to e-mail leon konnikov at gmail

[Awooldridge39]

The whole process is insane. They charge a huge amount of fees. I initiated my deposit last week 7 days ago and their confusing process is so messed up. They state they will send an email when they are sending the transfer over and in reality they submit the transfer prior to that email even being sent. Then they make you wait 3 to 5 days even after you have submitted proof that the funds were withdrawn the day they submitted the request and won’t release the funds after you show them the proof. I won’t be staying trading with these people. I could have wired money faster than this garbage.

[NinjaTrader_DrewO]

Awooldridge39,

Thanks for posting.


As mentioned earlier in the thread, our Brokerage and Treasury Support teams would not have any visibility on this space, which is intended specifically for feedback and inquiries about the NinjaTrader software. I see you have an existing conversation ongoing with our Treasury Support team and would recommend voicing your concerns to them directly. They'll be best suited to assist further and hear out your feedback on processes.