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Transferring funds between Investment accounts

Concordman

Presently I am arranging to transfer funds from a money market account to a new investment account. . As I understand transfers between investment accounts in QM do not work.. Can someone counsel best way to proceed with this type transaction?

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Accepted answers

J_Mike

Use Type = Payment/Deposit for cash transactions - such as transferring funds.

All comments

jacobs

If you currently have shares in your money market account, you will need to Sell or Remove Shares to convert your share balance to cash. Then you can transfer the cash to the other account, as @RickO says, and then Buy or Add Shares to convert the cash in the new account back into shares.

Frustrated Q17 Mac User

I am trying to transfer a cash balance from one investment account to another. What do I choose under "type" in the created transaction? Thanks

J_Mike

Use Type = Payment/Deposit for cash transactions - such as transferring funds.