Deposits
External Bank Account to M1 Spend Account
This can take up to 4 business days.
External Bank Account to Taxable/IRA/Crypto* Account
This can take up to 1 business day.
M1 Spend Account to Taxable/IRA/Crypto* Account
This usually completes by the next business day.
*For Crypto Accounts, you will be immediately granted up to $5,000 of your pending deposit. The remainder will be credited to buying power when the transfer settles.
Withdrawals
M1 Spend Account to External Bank Account
ACH withdrawals: This can take between 2-6 business days. Once the withdrawal request completes in M1's systems, it can take up to 1 business day for the funds to be reflected by your bank account.
Checks: This can take 3-9 business days. We recommend giving yourself extra time to allow your payment to reach its destination (for time sensitive payments).
Taxable/IRA/Crypto Account to External Bank Account
This can take between 3-5 business days. Funds will need to settle (see Settlement Period below) before the transfer can be initiated to your external bank account. Once the withdrawal request completes in M1's systems, it can take up to 1 business day for the funds to be reflected by your bank account.
Settlement Period: Before any funds can be disbursed to our users, all sales must settle. Settlement occurs on T+2 (Trade Date plus two trading days). Funds take two trading days after their sale to be available for disbursement.
Example: A withdrawal is requested on Thursday. Securities are sold on Friday and will generally settle on the following Tuesday.
Holding Period: All new deposits to M1 Invest require a 6 business day holding period before they can be withdrawn. After 6 business days, the transfer to your bank begins.
Example: You deposit $500 into your account on Monday the 1st of the month. A withdrawal for $100 after this will be held until Tuesday the 9th before the transfer to your bank begins.
Anti-Money Laundering (AML) Regulations: All funds received from a banking institution can only be returned to that same bank for 60 days. For their first 60 days, funds received cannot be disbursed to a different bank than from where they were originated.
Taxable/IRA/Crypto Account to M1 Spend Account
This can take between 2-3 business days. Funds will need to settle (see Settlement Period below) before the transfer can be complete to your Spend account.
Settlement Period: Before any funds can be disbursed to our users, all sales must settle. Settlement occurs on T+2 (Trade Date plus two trading days). Funds take two trading days after their sale to be available for disbursement.
Example: A withdrawal is requested on Thursday. Securities are sold on Friday and will generally settle on the following Tuesday.
Holding Period: All new deposits to M1 Invest require a 6 business day holding period before they can be withdrawn. After 6 business days, the transfer to your bank begins.
Example: You deposit $500 into your account on Monday the 1st of the month. A withdrawal for $100 after this will be held until Tuesday the 9th before the transfer to your bank begins.
Anti-Money Laundering (AML) Regulations: All funds received from a banking institution can only be returned to that same bank for 60 days. For their first 60 days, funds received cannot be disbursed to a different bank than from where they were originated.
Transfers Between Invest Accounts
Please note that you can only transfer funds between Invest accounts after you have enrolled in Spend and opened a checking account.
This can take between 2-4 business days. Funds will need to settle (see Settlement Period below) before the transfer can be initiated. Please note that you may not see the funds reflected by either Invest account while the transfer is in progress.
Settlement Period: Before any funds can be disbursed, all sales must settle. Settlement occurs on T+2 (Trade Date plus two trading days). Funds take two trading days after their sale to be available for disbursement.
Example: A withdrawal is requested on Thursday. Securities are sold on Friday and will generally settle on the following Tuesday.
Holding Period: All new deposits to M1 Invest require a 6 business day holding period before they can be withdrawn. After 6 business days, the transfer can begin.
Example: You deposit $500 into your account on Monday the 1st of the month. A withdrawal for $100 after this will be held until Tuesday the 9th before the transfer can begin.
Anti-Money Laundering (AML) Regulations: All funds received from a banking institution can only be returned to that same bank for 60 days. For their first 60 days, funds received cannot be disbursed to a different bank than from where they were originated.
Borrow withdrawal transfer timing
Borrow to Invest
When you transfer borrowed funds within the same Invest account, the trade will go through during the next trading window.
Example: You’re using a $500 line of credit in your Individual account and want to invest that $500 into that same account. Once you place a manual buy order, it will be invested during the next trading window.
Borrowing to a different Invest account requires the usual withdrawal timing. This can take up to 4 business days and is subject to settlement, holding, and AML holds described above.
Example: You’re using a line of credit of $500 in your Individual account –XXX and want to invest that $500 into your Retirement account -111. Once you place a manual buy order, it will be invested during the next trading window (subject to settlement, holding, and AML holds).
Borrow to Spend
This can take up to 4 business days and is subject to settlement, holding, and AML holds described above.
Borrow to External bank
Borrowing to your external bank can take up to 3 business days.
Note:
Pending Transfers: M1 only allows for a single pending transfer at a time. Until a transfer request is completed or canceled, you will be unable to create a new deposit or withdrawal. Before completion transfers can always be canceled in the funding tab.
Trading Days: Starting on 7/1/2020, M1's morning trade window will begin at 9:30am EST every day the NYSE market is open. This is every weekday except for the NYSE holidays.
Holidays: Market holidays and banking holidays do not count as business days.
If you have further questions, please contact us.