How Do I Close My Account with TD Ameritrade?

If you have an account with TD Ameritrade but have decided to take your investing business elsewhere, you need to learn how to close your TD Ameritrade account. That's pretty easy to do, but you first need to transfer all the money out of your account. This article will teach you how.

Withdrawing Funds by Wire Transfer

You can make a wire transfer from your TD Ameritrade account to your bank for a $25 fee. Your bank also might have a fee for receiving the wire transfer. There is no limit to the transfer size, so you can withdraw all of your money at once. To make a wire transfer, follow these instructions:

1. Go to the TD Ameritrade website.
2. Log into your account.
3. Go to Withdraw from Your TD Ameritrade Account.
4. Click on the Transfer by Wire button.
5. Choose Standard Wire from the list of types of wire transfers.
6. Select your linked bank account to receive the transfer. If you have not yet linked a bank account with your TD Ameritrade account, you will have the opportunity to do so here. Just follow the instructions.
7. Enter the full amount of money in your account for the amount to transfer.
8. Follow any further instructions you are given to complete the wire transfer.

Your bank should get the money in one business day.

Withdrawing Funds by ACH Transfer

You can also withdraw your money by ACH transfer, a standard inter-bank electronic transfer. To make one, follow these instructions:

1. Log into your TD Ameritrade account.
2. Go to Withdraw from Your TD Ameritrade Account.
3. Click on the Transfer to Your Bank button.
4. Select your linked bank account as the recipient. If you have not linked one yet, you can here.
5. Enter the full amount of money in your account. However, TD Ameritrade only allows you to send up to $250,000 by ACH transfer in a day. If you have more than that in your account, you will have to transfer it in stages over multiple days.
6. Follow any other instructions you are given to finish the transfer.

If you make the transfer before 4:30 p.m. Easter Standard Time you should get the funds the same day. If not, you will receive them on the next business day. TD Ameritrade does not charge anything to send an ACH transfer, and your bank is unlikely to charge anything for receiving it.

Withdrawing Funds by Check

You can also withdraw your money in the form of a check. Follow these instructions:

1. Log into your account.
2. Go to the Withdraw from Your TD Ameritrade Account page.
3. Click on the Withdraw by Check button.
4. Follow the instructions.

TD Ameritrade will write a check for any amount and mail it to you. You should receive it in two to five business days. There is no fee involved unless you request the check be sent overnight.

Closing Your TD Ameritrade Account

To close the account, talk to a TD Ameritrade customer service representative. You can contact one by email, help forum, or phone.