The PenFlex checking account provided by Apex Clearing Corporation is a special cash management service that links to your account's money market fund and allows access to check writing, a debit card, for an annual fee of $30 (for accounts with a debit card)
- Debit cards and check writing is not available for Forex trading accounts.
- A debit card is available to Equity account holder who meets and maintains an equity balance of $10,000.
- The debit card is not available for Equity Day-trading accounts.
- The PenFlex® Account is not available to IRA, UGMA/UTMA accounts, or for accounts that process wires.
- Each check re-order cost $5.00. For a complete fees list please Click here
- Customers are prohibited from using PenFlex checks to establish 3rd party ACH relationships against their accounts’ automated payments and withdrawals. These transactions will be rejected and customers will be subject to any associated fees.
To open a checking account, simply complete and mail in the application to the following address. Please noted that faxed applications will not be accepted.
Attn: New Accounts
1926 E. Maple Avenue
El Segundo, CA 90245
- No minimum balance for a checking account
- $10,000 minimum balance for a debit card
- Account detail consolidated with monthly brokerage statement
- Daily activity screen available at http://online.penson.com
- Quarterly and Year-End statements
- Accepted world-wide at more than 16 million merchants
- Access to over 440,000 ATMs world-wide
- ATM withdrawals up to $500 per day
Checking Account Fees
- Annual fee for debit card
- Check re-order (100 checks)
- Stop payment
- Non Sufficient Funds (NSF)