Iowa Electronic Markets
Transmission of investment funds to the IEM
Investment deposits must be received by the IEM before a new account can be opened or an existing account credited.
Such payments may be transmitted in either of the following ways.
- A bank check drawn on a U.S. bank in U.S. dollars.
- Payments by check will generally be credited to the trader's account within one business day of receipt by the IEM. At the option of the IEM, however, credit may be delayed until the check has cleared.
- An electronic transfer (also called "wire transfer")
- Payments by an electronic transfer will generally be credited to the trader's account within one business day of notification of a completed transfer.
- The trader is responsible for all fees and charges associated with wire transfers.
- For the information necessary to complete a wire transfer (bank name, account number, etc.), contact the IEM by email (email@example.com) or telephone (319 335 0881)
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- Cash Payments -- Under no circumstances should cash payments be mailed to the IEM. The IEM assumes no responsibility for such payments.
- Payments from the IEM -- All payments from the IEM to the trader in response to withdrawal
requests will be made in the form of a check payable to the registered trader, denominated in U.S. dollars and drawn on a U.S. bank. All fees associated with the processing of that check are the responsibility of the trader.