Government securities and options will continue to settle as they have in the past - one day following a purchase or sale. You should talk with your broker or banker about options for paying your broker on time. If you live close to your brokerage firm or know from experience that mail is usually delivered to your broker within three business days, you may want to rely on the U.S. Postal Service. There are a number of delivery services that promise delivery within one or two days. You can arrange for your bank or savings institution to wire or electronically transfer money from your account to a brokerage firm.
Wire transfers are available for a fee from most banks and savings institutions.
Another type of transfer is available at most banks or savings institutions through the Automated Clearing House system. Generally, these electronic transfers are considerably less expensive than wire transfers. Also, this system allows an investor up to sixty days to reverse a transaction and receive payment back if the trade was not authorized by the investor and the investor signs a sworn statement or affidavit. With Your Broker Most brokerage firms offer accounts from which they can deduct payments automatically on the settlement date. Although not insured by the FDIC, these accounts often offer interest on cash balances, as well as check writing privileges and credit or debit cards.