Accounts which have been set up as a 'Cash' type do not have access to the proceeds from the sale of securities until such time the transaction has settled at the clearinghouse and proceeds have been issued to IB.  Securities settlement generally takes place on the third business day following the sale transaction.  Providing access to the funds prior to settlement would constitute a loan, a transaction which is precluded from taking place within this account type. 

Account holders who wish to have access to settled funds prior to the settlement day may do so by electing an account type of 'Margin'.  Under this account type unsettled funds may be used for trading purposes but may not be withdrawn until settlement.  Account holders maintaining a 'Cash' account may request an upgrade to a 'Margin' type account by logging into Account Management and selecting the Trading Access and then Trading Configuration menu options.  Upgrade requests are subject to a compliance review to ensure that the account holder maintains the appropriate qualifications.