Is there a way to see what a deposit into my brokerage account is for?
Here’s a summary of the user’s main problem and the solutions discussed:
- Main Problem: The user, Zucce05, was confused about a “DIRECT DEPOSIT TPG PRODUCTSSBTPG LLC” showing in their Fidelity brokerage account after selling a security, unsure if it was a special disbursement.
- Solution: Zucce05 later realized that the deposit was unrelated to the sold security but was actually a transfer from someone else going through a different system.
- Additional Inquiry: Zucce05 sought clarification on the deposit process in a margin account, noting multiple pending transactions reflecting changes between cash and margin positions.
- Clarification Provided: Fidelity representatives explained the sequence of the deposit process: a deposit comes in, is deducted from the cash side, and then moved to the margin side, confirming Zucce05’s understanding.
The conversation highlighted the importance of understanding transaction processes in brokerage accounts to manage personal finances effectively.
Here’s the full thread
I have a Fidelity brokerage account that is getting a deposit from a security I sold a few days ago. “DIRECT DEPOSIT TPG PRODUCTSSBTPG LLC (Cash)” is all that it says. I sold the security yesterday and see that transaction in my history. I see disbursements from other securities as well that specify “DIVIDEND RECEIVED” as the deposit type.
Is the DIRECT DEPOSIT a special disbursement or something else?
Thanks!
Hey @Zucce05, thanks for sharing this. This sounds odd to us. What kind of security did you sell?
I apologize, I’ve actually figured out what this is.
The TPG acronym actually matches part of the name of the security I’d sold, but is completely unrelated. I have someone transferring something into my account and this is going through their system.
No problem, glad you were able to figure it out!
Can I ask for more clarification on the deposit system on a margin account, though?
Three in a row events I see, adding a dollar value for example
DIRECT DEPOSIT {source}: +$100
JOURNALED JNL VS A/C TYPES (Margin): +$100
JOURNALED JNL VS A/C TYPES (Cash): -$100
All three of these are in a pending state at the same time. What is happening with these numbers?
Deposit is adding $100 to the account, then it is changing from a cash position to a margin position?
Happy to help here, @Zucce05.
Your on the right track with your thought process. What you are seeing is your deposit come in and move over to your margin holding. If it helps, you can view it in this order:
1. The +$100 deposit comes in
2. The -$100 deposit line is the deposit being taken from your cash side
3. The +$100 deposit is then moved to your margin side
Okay, that’s what I thought, just wanted to make sure, thanks!
I’m in the process of moving nearly all of my bills as well as my paycheck into this account so I just want to be able to understand what I’m looking at.
Thanks again!
You’re welcome! Let us know if you have any additional questions in the future. 🟢