GO
Help
Zecco.com » More Investment Ideas » Everything Else » Zecco's New Redesigned Electronic M...
Last post 03-27-2008, 3:00 PM by Mythras. 4 replies.
Previous   Next
Content Name: ForumThreadInternal
Preview Revision #:
Active Revision #:
Edit Content

  •  03-27-2008, 7:27 AM 25808

    Zecco's New Redesigned Electronic Money Movement (ACH) System

    Reply Quote
    I think that Zecco's new redesigned electronic money movement system is a HUGE improvement. Besides making it much easier to transfer funds between accounts, I can now view an extremely detailed and non-confusing account of all past Cash History transactions (including dividends and accrued money market interest).

    Zecco's old money movement system was very frustrating to work with, so I appreciate the fact that Zecco took the time to listen to our complaints and get it right. Great job, Zecco!

    Now can we please get fractional shares so that all dividends are immediately reinvested? ;-)

  •  03-27-2008, 8:03 AM 25809 in reply to 25808

    Re: Zecco's New Redesigned Electronic Money Movement (ACH) System

    Reply Quote
    Shephrd,  I am new to zecco, and still ??? their $0 trades.  Thought I would get my feet wet before doing a transfer of other investments.  My question, do they not reinvest fractional shares of dividends?  Do they keep the fractionals?  I did not read anything on that, but when I called about reinvesting, they said I just had to request.  Please clarify this for me, as I have not purchased anything with zecco yet, and fractional shares could ad up quite a bit.  Thank you

  •  03-27-2008, 10:19 AM 25810 in reply to 25809

    Re: Zecco's New Redesigned Electronic Money Movement (ACH) System

    Reply Quote
    I may be mistaken, but I think that because you can only purchase full shares at Zecco, all dividends are swept into the Money Market option that you chose (be sure to select the "CAT MM Portfolio" for the highest APY).

    When I asked Zecco about dividend reinvestment, here's what I was told:

    "Thank you for your interest in Zecco Trading. Zecco Trading does offer
    an automatic dividend reinvestment program; however, we do not offer
    fractional shares. This is a free service that you can request with a
    Letter of Authorization or email. Be sure to send the original paperwork
    to follow via postal mail to the address at the bottom. Please indicate
    if you want current and all future dividends reinvested if that is your
    objective. Once we receive your request, please allow 3 to 5 business
    days for processing."

    Therefore, the question still remains. If you can only purchase full shares, then how could dividends ever be reinvested since dividends are only enough to purchase fractional shares?

  •  03-27-2008, 2:06 PM 25827 in reply to 25808

    Re: Zecco's New Redesigned Electronic Money Movement (ACH) System

    Reply Quote

    I concur!  The redesigned electronic money movement interface is great.  Zecco developers have done an excellent job there.   Congrats!

    PS:   I just wish that money can be move faster.  With other brokers, if I order the move before 4:00 PM, my money will be available before 8:00 AM the next day.  With Zecco, the money won't be avaible until the day after tomorrow.   I hope that  they would also do something to speed up the process.

  •  03-27-2008, 3:00 PM 25830 in reply to 25827

    Re: Zecco's New Redesigned Electronic Money Movement (ACH) System

    Reply Quote
    I think its great as well, but what I like most is that they listen to what we have to say.  That zecco takes the time and consideration to listen to our concerns then do something about it.  Thanks Zecco
    Get Rich or Die Trying
Content Name: StandardBottom
Preview Revision #:
Active Revision #:
Edit Content

Terms of Service - Privacy Policy

Market data and delayed quotes are powered and implemented by Interactive Data Managed Solutions. All historical chart data, quotes, daily updates, company data and news provided by Interactive Data or partner companies of Interactive Data. Quotes are delayed, except where indicated otherwise. Delay times are at least 15 minutes for NASDAQ, 20 minutes for NYSE and Amex.

All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Zecco nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance upon information contained herein. By accessing the Zecco site, you agree not to redistribute the information found therein.

Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options.

System response and access times may vary due to market conditions, system performance, and other factors.

Investors should consider the investment objectives, risks, and charges and expenses of a mutual fund or ETF carefully before investing. A mutual fund/ETF's prospectus contains this and other information, and should be read carefully before investing.

Zecco.com is a financial portal of Zecco Holdings, Inc., which also provides access to Zecco Trading. Zecco Holdings is not a securities broker/dealer. All securities and investments are offered by Zecco Trading, Inc. Member FINRA/SIPC. At Zecco Trading, you can make up to 10 free stock trades in any one month that you maintain a $2500 minimum account net equity. After that, you pay only $4.50 per stock trade. Options trades are $4.50 plus $.50 per contract. Only the first account of any account type is eligible for the Zecco Trading, Free Trading program. Any multiple accounts of the same type with the same registration are not eligible for the free trading program. Free Trading Program is only available through Zecco.com. $0 minimum to open cash and IRA accounts. Margin accounts require a $2,000 minimum balance for opening and trading on margin. Margin trading involves risks and is not suitable for all accounts. No consideration was paid for any testimonials displayed on this website. Your experience may vary, and the testimonials are no guarantee of future performance or success.

© 2006-2008 Zecco Holdings, Inc. All rights reserved.