I'm very happy to report that I have put hands on a baby amount of money to re-open my trading fund (the real one), so as soon as the new ACH account is established, I'll be taking deep breaths and trading for real. (I've recently changed banks, so need to set up another ACH. But VERY small futures trades to start.
What's an ACH account?
For newbies, this is the electronic transfer that you can set up with your broker, a link between your trading fund and your checking (or savings) account.
It allows you to send money either way, to/from each other. If you have big profits in trading, you can move some of them out and not be tempted to trade
with them. Or if you need more money in trading, you can just do a quick ACH transfer into your fund. It makes the tired old wire transfer process obsolete.
Although a WT might be quicker, I'm not sure. WT's have to be done one at a time, through the institution, whereas ACH accounts, you just go to your computer
and input the transfer, day or night. Easy peasy.
In your customer profile section of your online brokerage (and I pray to Wall Street that you're using an online brokerage like Think or Swim) you'll find a place
to set up new banking. Choose the ACH option (NOT wire transfers).
You need the numbers off the bottom of your check. The 9-digit number on the left is the routing number to your bank. To the right of that is the number of
your checking account. (if you want an ACH to savings, you have to find the number for your savings account).
BTW, a wire transfer uses a DIFFERENT routing number, something local, so don't be confused. If in doubt, call your bank.
P.S. My brokerage put two little deposits ($.33 and $.10) into my checking account and then I had to go into TD Ameritrade and verify the amounts. This to prove
the whole ACH set up was legit. The second I verified the deposits, my account was active, and I just transfered monies to my trading fund.
Let the fun begin!