Scottrade offers online checking, savings and money market accounts and brokerage services, which means you have several ways to withdraw funds from Scottrade. Think carefully before taking funds from brokerage accounts, though. Pulling too much out when you’ve borrowed money for trades can leave you vulnerable to a margin call. Premature withdrawals from a tax-advantaged account like an individual retirement account, or IRA, might incur additional taxes.
Brokerage Account Withdrawals
You have two ways to withdraw funds from a Scottrade brokerage account. If you have an account with Scottrade Bank, follow the prompts on your online brokerage account to transfer funds to the bank account. Then use a bank account option to send the money where you wish. You must register external accounts before you can send brokerage account funds directly to them. Follow the instructions to enter the external account destination bank, account type, routing number and account number. Follow the prompts to withdraw funds once the external account is registered.
Scottrade Bank Withdrawals
Scottrade provides multiple bank account withdrawal options. Follow the online prompts to send money to an external account or to pay bills. You may withdraw money by writing a check or using a Scottrade debit card. Scottrade doesn’t charge debit card user fees and reimburses you if using another bank’s automated teller machine incurs a fee. To wire money, you must fill out an authorization form and take it to your local Scottrade brokerage office.
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