After taking nearly 2 hours to figure out even where to go to link my bank account, I finally was able to do so using Plaid. However, when I tried to deposit funds from that bank account into my Alpaca account, I receive the message: “An error occurred trying to deposit funds: account is not allowed to deposit funds”. I came to the forums to see if anyone else had posted about having this problem, and I found several posts from new members who are having or who have had the same issue. My concern is that it didn’t seem like anyone from Alpaca cared. Occasionally, there would be an initial reply, then nothing in response to additional information or questions. One person said that she had given up on receiving help and was going to another trading platform. Several others were not happy. I never found a single post regarding this issue that resulted in a resolution or even an explanation. This is very concerning considering this is a company who will be holding/managing my funds. Can someone give me an idea as to why I am unable to make a deposit into my trading account? There are sufficient funds in my bank and it is linked correctly. Thank you, Rain
I’m in the same boat as you. Alpaca staff ignore this forum almost completely. I’m tempted to try and call any public facing phone number they have to see if they might give any support at all. It’s clearly not here.
I found this number:
1-650-489-2017
Might call later to see if I get any luck with anyone since this forum is abandoned.
edit: I sent an email instead. Hopefully they start helping.
I encountered this issue as well and hence had to go by way of wire transfer. Also, make sure that the name of your bank account matches with that of your Alpaca account. Otherwise you will encounter a fine of 35$.
FYI. Though lots of features are yet to be added, people typically have positive experiences of Alpaca.
- Good for trade execution
- Pretty solid while running an automated trading system.
- Excellent for getting option chain data.
So you did not make the wrong choice!
@JustCallMeRain The forums here are ideally a platform where Alpaca users can share ideas and ask questions. If one has account related issues, especially regarding deposits and withdrawals, please send an email to support@alpaca.markets. Ensure you include your account number and/or the email associated with the account.