Bank Transfers Information

Getting Started with Alpaca
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Q - Does Alpaca require a minimum deposit?

No, there are no account minimums for individual live brokerage accounts (both US Tax Resident and Non-US Tax Resident)

For business entities globally (invite-only beta for business trading accounts): Yes, there is a $30,000 initial funding requirement in today’s beta program.

Please read Account Plans for more information.

Q - How do I fund my Alpaca account (US Tax Resident)?

US Tax Residents can use Automated Clearing House (ACH) for deposits/transfers from a linked bank account. This is the default method available to fund your Alpaca Account.

We do accept wire transfers case on a case basis when there are specific reasons that ACH does not work. Contact support@alpaca.markets if you are unable to use ACH and would like to pursue a wire transfer option.

Q - How do I fund my Alpaca account (Non- US Tax Resident)?

International users can fund their account with Rapyd which can be accessed by selecting the Banking Tab on the side of the dashboard of the live brokerage account. While one can transfer foreign currencies in Rapyd, only USD can be deposited into Alpaca Brokerage Accounts

International Users can still send wire transfers however they need to be in USD

Q - How does ACH work at Alpaca?

Prior to initiating an ACH deposit/transfer, you must have a bank account linked to your Alpaca Account. Alpaca utilizes Plaid, a third-party vendor for bank account authentication and identification services. Please note that maximum ACH transfer allowed is $50,000 per day .

Plaid utilizes two methods for verification of banking information, dependent upon the availability of your financial institution. Many major banks integrate with Plaid, allowing for quick electronic verification and funding of your account. However, in some cases verification must be completed through micro-deposits, which typically takes between 1-3 business days .

Refer to the links below for instructions on linking your bank account:

Q - How do I link my bank account to my Alpaca account through electronic authentication?

  1. Log in to your Alpaca Account.
  2. Select Banking from the dashboard menu and click Link Bank Account .
  3. A message regarding Plaid, our third-party vendor for bank authentication services, displays. Review the information and click Continue .
  4. Choose from the list of major banks or enter your bank name into the search box.
    NOTE: We currently only support ACH transfers for banks appearing in the search box*
  5. Enter your online banking credentials (User ID and Password) and click Submit .
  6. Select the bank account to be linked and click Continue . A message indicating the bank link was successful will display in the upper right corner.
  7. Refer to Deposits/Transfers to your Alpaca Account for instructions on initiating an ACH deposit from your linked bank account.

********* A message stating “No results found” will display if your bank cannot be located. If this occurs, refer to Linking Your Bank Account - Micro-Deposits.

*Maximum ACH transfer allowed is $50,000 per day .

NOTE: BMO/Harris Bank partners with Electronic Transaction Clearing (ETC), Alpaca’s clearing partner, to process all ACH transactions.

Q - How do I initiate a deposit from my linked bank account into my Alpaca Account?

  1. Log in to your Alpaca Account.
  2. Select Banking from the dashboard menu and click Transfer Money in the upper right corner.
  3. Enter the desired amount or choose one of the displayed options, and click Submit .
  4. Review the transaction details and click Confirm . To change the amount, click Modify .

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  1. A confirmation window displays. Click Sounds Good to exit and return to your dashboard.

*ACH deposits/transfers typically take 1-3 business days to fully process. Once the ACH transaction is complete, the deposited funds will reflect in your Alpaca account on the following business day .

*Maximum ACH transfer allowed is $50,000 per day .

NOTE: BMO/Harris Bank partners with Electronic Transaction Clearing (ETC), Alpaca’s clearing partner, to process all ACH transactions .

Q - How do I initiate a withdrawal/transfer from my Alpaca Account to my linked bank account?

  1. Log in to your Alpaca account.
  2. Select Banking from the dashboard menu and click Transfer Money in the upper right corner.
  3. In the upper right corner of the window click Withdrawal . The available withdrawal amount displays in the amount field.
    Note: You can only withdraw funds to the original bank account from which the funds were deposited.
  4. Enter the desired amount or choose one of the displayed options, and click Submit .

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  1. A confirmation window displays. Click Sounds Good to exit and return to your dashboard.

NOTE: ACH transactions typically take 1-3 business days to process. Once your ACH transfer is approved, the funds will be deposited into your bank account in accordance with bank policies.

Q - How do I link my bank account to my Alpaca account using micro-deposits?

If your bank and/or bank account is not supported using electronic authentication, you may try this alternative bank link method, which links with your bank account and routing numbers.

  1. Log in to your Alpaca account.
  2. Select Banking from the dashboard menu and click Link Bank Account .
  3. A message regarding Plaid, our third-party vendor for bank authentication services, displays. Review the information and click Continue .
  4. Type ********** (or any two random symbols) into the search box. Click Link with account numbers and click Continue .

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  1. Select the account type ( Checking or Savings ) and indicate whether it is a Personal or Business account.

  2. Enter the Routing Number and click Continue .

  3. Enter the Account Number and click Continue . Re-enter the Account Number to confirm and click Continue once more.

  4. Review the message and click Continue . Access your bank account on the specified date, locate the two deposits and notate the exact amounts.

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  1. Return to your Alpaca dashboard and click Verify Bank in the upper right corner.

  2. Enter the amount of the first deposit and click Continue , then enter the amount of the second deposit and click Continue .

  3. A message indicating the bank link was successful will display. Click Continue .

  4. Refer to Deposits/Transfers to your Alpaca Account for instructions on initiating an ACH deposit from your bank account.

NOTE: BMO/Harris Bank partners with Electronic Transaction Clearing (ETC), Alpaca’s clearing partner, to process all ACH transactions.

Q - How do I unlink my bank account from my Alpaca account?

  1. Log in to your Alpaca Account.
  2. Select Banking from the dashboard menu.
  3. In the upper right corner next to the linked bank, click the 🅧 .
  4. A warning displays; click Yes, Unlink Account .

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Q - What is an ACH transfer reversal?

An ACH transfer reversal is when a requested fund transfer to your Alpaca account is cancelled. ACH reversals may occur under the following conditions: insufficient funds in your bank account, account is non-ACH eligible, duplicate transaction, or a declined transfer.

When an ACH transfer is reversed, funds will return to the originating account and your Alpaca account will be charged a $30 return fee.

NOTE: To prevent an ACH transfer reversal, we recommend doing the following prior to initiating an ACH:

  • Verify your bank account information and that the account is eligible for ACH transfers.
  • Confirm that you have sufficient funds in your bank account to cover the ACH transfer.