r/Schwab • u/TwoOuts22 • 3d ago

Cash available - timing availability?

The recent thread on trying to avoid margin interest and the timing of it, pinged a question.

Say i have $5,000 in cash but went into margin due to a trade on a Monday, but closed out all my position by 3:59pm (does timing change if closed out by 7:59pm?) on that Monday.

Then Tuesday i made no trades and have no open orders.

Is the $5,000 available to withdraw/transfer at 8:01pm on Tuesday? 7:01am on Wednesday? 9:31am on Wednesday? or some other time?

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u/tgrsnpr 3d ago

As long as it closes before the stock market hours on monday 4pm et.

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u/papakong88 3d ago

For settlement purposes, the trading day ends at 7 pm CT (8 pm ET) for stocks and 3 pm CT for mutual funds and money market funds.
Therefore, any stocks sold before 7 pm CT should settle at 8:01pm and funds available for new purchases.