ARTICLE TAKEAWAYS
Check writing allows investors to withdraw shares from their accounts by writing checks.
An investor may establish check-writing privileges for Class A and Class F-2 shares of American Funds U.S. Government Money Market Fund once the fund’s initial investment minimum of $1,000 has been met.
Note: This option applies to only the following account types: individual, joint, trust or UGMA/UTMA accounts.
Complete the Mutual Fund Account Options form. If the account is already established, a signature guarantee is required.
Requests are generally processed within 5 days, provided they contain the necessary information and legal documentation.
After the option has been established, your client will receive a book of 20 checks along with an account confirmation.
Checks can be used to draw against the account as long as sufficient funds are available.
The checks:
There is no maximum amount that can be written per check, as long as sufficient funds are available to cover it, and there’s no limit on the number of checks that can be written.
Checks can be ordered online by taking the following steps:
Allow 7 to 10 business days for receipt.
If your client needs to expedite the delivery of their checks, there is an additional fee. Contact us to make the request.
A Signature Card Update form must be completed and returned by mail with a signature guarantee to make changes to the signers.
Note: Updates due to name changes must also include the appropriate documentation.
A stop payment can be placed on a check that has not already been paid. A fee will not be charged to place a stop payment on a check. Contact us to make the request.
Investors will receive copies of checks written at the end of the month on an Image Check statement.
For financial professionals only. Not for use with the public.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
Use of this website is intended for U.S. residents only.
The guidelines and procedures provided in the Account Resource Center may not apply to networked accounts or accounts not directly held by American Funds. The guidelines and procedures provided also apply only to those retirement accounts or Coverdell ESAs invested in American Funds with Capital Bank and Trust Company (CB&T) as custodian. The guidelines and procedures provided in the Account Resource Center do not apply to plans held in our retirement plan solutions — PlanPremier, PlanPremier-TPA or RecordkeeperDirect. Information on the Account Resource Center may change periodically, and previously printed information may not be current. Please refer to capitalgroup.com for the most current information available.
Financial professionals should always contact their back office to determine if there are any restrictions on the use of American Funds products, tools, services, websites and literature.