Which company or API can facilitate ACH deposits into mutual funds?
Payments
Asked by Question Bot06/Jul/20131 answer
1 Answer
F
Faisal Khan
Answered 06/Jul/2013
To the best of my knowledge, Mutual Funds are not issued with Routing Number (ABA), and hence you cannot use ACH for this.
The only way to forward money electronically by means of a wire-related transfer is a wire transfer itself into the Bank, which further instructions to the appropriate Mutual Fund (this too can very bank to bank, and from Mutual Fund to Mutual Fund).
The only way to forward money electronically by means of a wire-related transfer is a wire transfer itself into the Bank, which further instructions to the appropriate Mutual Fund (this too can very bank to bank, and from Mutual Fund to Mutual Fund).