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J.P. Morgan Self-Directed Investing Withdrawal Fee, Terms and How To Transfer Funds Out of Brokerage Account


2021 Chase brokerage withdrawal fee, transfer funds to bank options, terms for moving cash, getting money out of investment account by ACH, wire transfer, debit card, ATM, and check.



How to Withdraw Money from J.P. Morgan Chase


If you’ve tried out Chase’s new online low-cost broker J.P. Morgan Chase and have decided it’s not for you, it’s time to move your funds out of the account. Or perhaps you’re going to stay with the firm but need to withdraw some excess funds. In either case, you need to know how to do that. Here are the options available to you:


J.P. Morgan Chase Investments Withdrawals


1. Transfer money using the ACH system.


This will allow you to get money out quickly and easily. When we logged into our test account, we found a very convenient online form that allows traders to move funds out of a J.P. Morgan Chase account into an external bank account. The transfer tool displays the total amount that is available for withdrawal. There is also an option that allows you to set up repeating transfers if you need to do recurring withdrawals.

Using this ACH tool, it’s also possible to set a withdrawal date for the future. Moreover, Chase has added a convenient memo box so you can jot down any notes if you need to.

It’s easy to add an external bank account to your J.P. Morgan Chase account using the J.P. Morgan Chase website. You just need the account and routing numbers from the external account.

The J.P. Morgan Chase site has a section that displays transfer activity. This area will give you information on scheduled transfers, including the status of one.


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2. Wire funds out of your account.


If you can’t use the ACH system for any reason, J.P. Morgan Chase allows you to wire money out of your account. While the ACH service is free, an outgoing wire costs $30.

Why would you want to send a wire instead of using the ACH system? Perhaps you want to move your money into a foreign bank account. In this situation, you would have to send funds via wire because the ACH system only works with US-based financial institutions. Also, if you’re moving a lot of money, you may not be able to use the ACH service.


3. Move your entire account using the ACAT system.


If you don’t plan to trade anymore at J.P. Morgan Chase, you can transfer your entire account to another brokerage firm. This is the most expensive option, but if you don’t want to liquidate any of your securities, it may be the best choice. The price is $75. This charge is applied to full account transfers and partial transfers.


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4. Don’t Forget the Mobile App.


Besides the website, Chase has added both ACH and ACAT services to its mobile platform. During our testing, we found them easy to use. Just follow the instructions, and you’ll be able to move assets to another financial institution from any location. Chase’s app works on both phones and tablets, and this will make transfers even more convenient.

We were disappointed not to find Zelle transfer capability either on the website or on the J.P. Morgan Chase mobile app. Hopefully, Chase will add this service soon.