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Withdrawals

We process withdrawals and send them to the accounts payable department for payment on the 15th and 30th of each month. You can withdraw all or part of your funds. If you want to close your account, please be sure to convert all your contracts to cash. We cannot trade on your behalf and therefore cannot convert your contracts to cash.

The check for your withdrawal will be mailed to the address that is shown in your trading account. Before requesting a withdrawal, please log in to your account and verify that we have your correct address. To do this, select the "My Account" button in the navigation bar and choose the "Change Contact Information" option. This will display the address that we currently have on file and allow you to change it as necessary.

You can see if we have received and processed your withdrawal request by logging in to your account and reviewing your account history. This will tell you the date your withdrawal was processed. Generally, you can expect to see your payment arrive in the mail two weeks after this date.

There are three ways to withdraw funds from your IEM account:

  • Complete the IEM Withdrawal Request form found under the My Account menu when logged in the IEM software
  • Complete and submit the Online Withdrawal Request Form
  • Send an email to iem@uiowa.edu. Please be sure to include your: security code and trader login name; specify whether you want to withdraw all or only part of your funds.

Please Note:
The minimum balance required in order for us to process a withdrawal is $2.00. If you find that your balance has fallen below $2.00 and you would still like to get a refund you can send us $2.00 by mail and we will add it to your account and process your withdrawal.