Settlement and Funds Availability. The “Transfer Date” is the date an electronic funds transfer is processed by RBC CM and posted to the Accounts. Transfers will be processed only on RBC CM Business Days. Transfers will typically require the following time periods: • Regularly Scheduled Payments: (dividend, interest, dividend distributions and systematic withdrawals) from the Accounts to the FI Account will normally take two (2) days to complete. • Regularly Scheduled Transfers: (systematic deposits) from the FI Account to the Accounts will normally take one (1) day to complete. • One Time Telephone Transfers: (both payments and transfers) requested by 4 p.m. Central Time will be completed on the next business day. Financial institutions that are involved in such transactions may have their own policies with regard to the timing of credits and xxxxxx. For this reason, you are advised to check with the financial institution before establishing transfer dates. Funds sent from an FI Account to the Accounts will generally be posted to the Accounts on the Transfer Date. For transfer of funds into the Accounts, RBC CM reserves the right to assign a hold time that must lapse before funds are available for withdrawal. However, funds will be available in an Account on the Transfer Date for investment in securities or to reduce Account borrowing levels. RBC CM will notify you as soon as possible, by telephone or in writing, if an electronic funds transfer cannot be processed by RBC CM or is rejected by a financial institution. RBC CM will assess a service charge (the amount of which is subject to change without notice) for each transfer into the Accounts that is rejected by a financial institution because the FI Account has been closed or frozen or because there are insufficient funds in the FI Account.
