A Transfer is the action of moving assets between any two Synthetic Accounts. The majority of asset movement initiated by your application will result in a Transfer. Asset movement is determined by the makeup of assets in both participating accounts, the Synthetic Account Type of each account, the available Custodial Accounts for all participating Customers, as well as the overall Program configuration. A Transfer can never be initiated between two external accounts.
Transfers can be initiated between most combinations of Synthetic Account Types. Due to the time required to complete ACH transfers or trades of assets in underlying Custodial Accounts, it is possible for a Transfer to take up to 6 business days to settle in the most extreme cases (such as starting with a stock sale and completing in a checking account deposit at a different financial institution).