Franklin Mint FCU

Welcome eVISION Members!

Getting Money Out of Your Account

Ready to use some of the funds in your CFS eVISION® account? There are several options for withdrawing money from your CFS eVISION® accounts, including using your own checkwriting privileges on your money market account.

If you've recently deposited funds in your account, you might want to know when you can start taking them out. Read on.

Want to do it now? Just call the CFS Service Representative at your local credit union branch, if available, or e-mail CFS at service@cusonet.com.

When are funds available for withdrawal?

Deposits received by CFS in good, deliverable form are immediately available for trading. Good deliverable form means that the check or certificate is properly endorsed with no restrictions, in the name of a registered owner of the account (or it's accompanied by a Letter of Authorization or One and the Same Letter). As long as we can tell where the money is coming from and where it's going to, without asking you for further instructions. So, the earliest you can withdraw funds is:

Depost Type Available for Withdrawl
Wired Funds 1 business day
Personal, government, cashier's, corporate checks,
cash transfers and money market fund checks

7 business days
Sale proceeds via ACH Trade date plus 4 business days
Sale proceeds via check Trade date plus 3 business days

What about checkwriting?

With our checkwriting service, you can withdraw available funds from your non-retirement account any time you like. Checkwriting gives you direct control over your interest-earning cash. If you have a margin account, you can also borrow against your marginable securities simply by writing a check as long as your securities are in your margin account (status type 2) at the time the check is cashed.

By the way, if you have a margin account, writing checks will affect how much margin you have available. If there are enough debits on your account to cause the equity to be less than $2,000, you would be in a margin call situation. Any checks received for payment while the account is in a margin call status will be returned unpaid and the account will be charged $25 per unpaid check. For more information, see margin trading.

(Checkwriting is not available for Individual Retirement Accounts (IRAs)* or custodial accounts. To remove funds from your IRA, you must complete an IRA Distribution Request Form. For instructions on withdrawing funds from an IRA, click here.)

You'll need the Checkwriting Application Form

  1. To get checkwriting, just complete and sign the Checkwriting Application Form to certify your signature.
  2. Send the signed form to us.

*If this is a retirement account and you are over the age of 59½ and would be willing to waive your option of having no withholding for state and federal tax, you are entitled to have checkwriting.

  1. Fill out the Checkwriting Application Form and the IRA distribution form.
  2. Send the signed forms to us.

You should receive your checks within a few weeks. Want to reorder checks by e-mail? Do it now to service@cusonet.com.

Tips on checkwriting

There is a $100 minimum amount when using checkwriting. Be sure you have enough in your CFS eVISION® account to cover the checks you write.

There is no fee for reordering checks. For information about other fees, see Pricing Information.

You can also write checks using your available "Cash and Option Buying Power." This means you can take out a loan from your CFS eVISION® account in cash, rather than using the funds to buy securities.

If a check written by you against your CFS eVISION® account is presented for deposit and your account does not have sufficient funds, the bank may try to re-deposit the check. If the funds are still not available, the bank returns the check to us and we will charge your CFS eVISION® account a fee. The returned check and the fee will appear on your Account Statement. For information about this and other fees, see Pricing Information.

Request checks for non-IRA accounts

You might not have checkwriting privileges set up on your CFS eVISION® account. Or you want to have CFS issue a check from your account for some other reason. To request a check drawn on your CFS eVISION® account, follow the guidelines below.

If the registration of your account and the payee's account is the same and your address and the payee's address are the same: You can request a check by contacting the CFS Service Representative at your local credit union branch, if available, e-mailing CFS at service@cusonet.com, faxing your request to 1-858-530-4400, or mailing your request to: ATTN Cashier, 10150 Meanley Drive, 1st Floor, San Diego, CA 92131.

If the registration of your account and the payee's account are NOT the same or your address and the payee's address are NOT the same You can request a check by contacting the Service Representative at your local branch, if available, and taking them a notarized Letter of Authorization signed by all owners of the account requesting the funds be sent to the other address or by mailing your request and the notarized Letter of Authorization to , attention Cashier, P.O. Box , San Diego, CA 92186.

We will charge your CFS eVISION® account a fee for sending a check via overnight express. For information about this and other fees, see Pricing Information.

Request checks from IRA accounts

To withdraw funds from your IRA, you must complete an IRA Distribution Request Form. Whenever you take money out of an IRA, it is considered a distribution. So, beware: those distributions are usually taxable. For specific information about taking money out of an IRA, consult a tax advisor. For general information see Retirement Plans.

  1. Get the IRA Distribution Request Form.
  2. Fill out the form completely. It includes your instructions to Pershing, the custodian, directing them to distribute a specific amount to you.
  3. Send the signed, completed form to your Member Service Representative at the credit union branch or directly to CFS. See Contact Us for the address.

Unfortunately, we can't accept requests for distributions by phone, fax, or e-mail.

Stop payments on money market fund checks

If you've taken advantage of checkwriting on your money market fund, and now need to stop payment for any number of reasons, here's how:

  1. Call, fax, e-mail, or write to us. The quickest way is to call us. (See Contact Us).
  2. Include this information in your call or letter:
    • the number of the check you want to stop
    • the name of the payee
    • the date of the check

We'll charge your CFS eVISION® account a fee when we receive confirmation that each check has been stopped. For information about this and other fees, see Pricing Information.

Transfer assets from your CFS eVISION® account

If you will be transferring some or all of the assets in your CFS eVISION® account to another financial institution, the receiving firm must initiate the transfer. Contact the company to which you are transferring assets to find out what their procedure is. CFS will charge a fee for making this transaction. For specific information about fees, see Pricing Information.

Wiring funds to an account outside CFS

You can wire funds directly from your CFS eVISION® account to another account you own.

Before you start, contact the financial institution holding your other account to get their wiring instructions.

CFS will charge a fee for making this transaction. For specific information about fees, see Pricing Information.

Wiring to accounts with the same registration at your CFS affiliated credit union

You can email your wiring instructions to service@cusonet.com if the wire meets all of the following criteria:

  • The destination of the funds must be your CFS affiliated credit union
  • The brokerage account and the destination account must have identical registrations

Please include the following information with your email request:

  • the name and account number on your CFS eVISION® account
  • the date you want the wire to be processed
  • your credit union name and ABA #
  • the account number for the account receiving the wire
  • the city and state of the receiving CFS affiliated credit union
  • the phone number of the receiving CFS affiliated credit union

These measures are necessary for the protection of the client and to combat the rising instances of "identity theft or fraud" occurring within the financial industry and to further comply with anti-money laundering provisions under the USA Patriots Act of 2001.

For outbound wires to be processed the same day, we must receive your request by 10 a.m. PT or 1:00 p.m. ET.

CFS will charge a fee for making this transaction. For specific information about fees, see Pricing Information.

Withdrawing Securities

Most securities are not available in the form of a physical certificate. If the name and address on the certificates will be the same as on your CFS eVISION® account, call or e-mail us to request electronic delivery of certificates for securities that you hold in your CFS eVISION® account. If you call or write, include this information:

  • the name of the person who will own the certificate should be the same as your CFS eVISION® account
  • the address of the certificate holder should be the same as your CFS eVISION® account address
  • the number of shares that you want issued from the account to the agent electronically.

Tips on requesting electronic delivery of positions

CFS will charge a fee for making this transaction. For specific information about fees, see Pricing Information.

It takes two weeks to issue positions registered in your name. For positions registered in another name or at a different address, it may take longer.

Positions requested from Custodial accounts must be registered with the same name as the name on the account.

Positions are not available from retirement accounts such as IRAs or Keoghs except as an in kind distribution.

Moving Money and Securities Between CFS eVISION® accounts

Here's the scenario: You've got multiple CFS eVISION® accounts, and you'd like to move some things around among them. For example, you might want to move some stock you own to an account on which you are a custodian.

Inside CFS, we call them "in-house transfers."

When registrations are the same

Just Email us instructions to transfer your asset.

  1. Make sure you include on it the name and CFS eVISION® account number for the account you're transferring assets from.
  2. Add the name and CFS eVISION® account number for the account you want the transferred assets to be deposited in.
  3. Email or mail the request to the CFS Service Representative at your local credit union branch, if available, or email it to CFS at service@cusonet.com or mail to 10150 Meanley Drive, 1st Floor, San Diego, CA 92131. Fax to 1-858-530-4400.

When registrations are different

  1. Write us a Letter of Authorization.
  2. Make sure you include on it the name and CFS eVISION® account number for the account you're transferring assets from.
  3. Add the name and CFS eVISION® account number for the account you want the transferred assets to be deposited in.
  4. You and any co-account holder must sign the form.
  5. If you are depositing funds into an IRA account, specifically indicate how this deposit should be coded for tax reporting. Example: Move $3,000 from my individual account to my IRA account as a current contribution.
  6. Get the signed Letter of Authorization notarized. (See exceptions, below.)
  7. Take the notarized Letter of Authorization to the CFS Representative at your local credit union branch or mail to 10150 Meanley Drive, 1st Floor, San Diego, CA 92131. We cannot accept faxed copies of notarized letters.

There are several exceptions to the above transfer process:

  • If you are transferring assets from an individual account to a joint account and you are named on both, we can process your transfer as if the two accounts had the same registration.
  • If you are transferring from a joint account to a Trust account, all holders of the joint account must sign the Letter of Authorization.
  • You cannot transfer assets from a Custodian account to an account with a different registration.
  • If you are transferring funds from an individual account that you own that is currently held at CFS, into an Pershing Custodial Retirement account in your name held at CFS, we just need the signed Letter of Authorization from you. Please indicate the type of deposit and the deposit tax year.
  • If you are transferring funds from a joint account currently held at CFS, into an Pershing Custodial Retirement account owned by one of the joint owners and the account is held at CFS, we require a notarized Letter of Authorization signed by both parties.
  • To transfer from retirement accounts, you actually have to take a distribution and you need a special form to do that. For more help, see About Retirement Accounts.
Non-deposit investment products and services offered through CUSO Financial Services, L.P. (Member FINRA/SIPC) are:
• not NCUA/NCUSIF or otherwise federally insured • not guarantees or obligations of the credit union
• may involve investment risk, may lose value