How to Start Investing Automatically
You can invest automatically in several different ways. You can set up an EFT between the DRIP or DSP administrator and your bank. You can set up your online bill pay account to send out a check on a regular basis. Or you can send out the check yourself.
Electronic Funds Transfer
With most companies, investing automatically is just a matter of filling out a form telling the company’s DRIP or DSP administrator how much you want to invest and how regularly you want to make that investment. You will have to attach a voided check. The company’s stock administrator can then use the information to set up an EFT. Each month the company will take the set amount you instruct them to take out of your bank account. ...