Request for Payment (RFP)

What is Request for Payment?

Request for payment is a message that you could send via IBKR and its supporting bank to your bank to trigger a real-time credit transfer directly to your IBKR account. Your bank will prompt you via push notification or e-mail to review and approve the payment request. Upon receiving your approval, your bank will send a real-time credit transfer directly to IBKR's bank and IBKR will credit your account. Real-time payments are done on a new 24x7x365 payments platform managed by The Clearing House and available to all federally insured U.S. depository institutions.

Who is eligible to use Request For Payment?

Real-time payment eligibility depends on your bank's capability to accept the request. U.S. depository institutions are actively preparing to accept RFPs and most are expected to be able to accept requests in the coming months.

What is the transaction amount limit?

The request for payment limit is determined by your bank. Initially limits are expected to be modest (approximately $5,000 to $10,000), but are expected to increase in the future. The RTP network's current credit transfer limit is $1,000,000

How long does it take for the funds to be credited to my account?

Under normal circumstances you should receive the prompt to approve the request for payment and, upon approval, the funds would be credited to your account and available to trade within a few minutes or faster. 

 

How to deposit HUF to Interactive Brokers

What are Giro/RTGS (Viber) transfers and International Bank Transfers (SWIFT) for HUF?

There are two different transfer methods available for transferring HUF depending of the location of your bank.

GIRO/ RTGS VIBER (domestic) transfers are available at banks located in Hungary for bank-to-bank transfers while banks located outside of Hungary will likely offer International Bank Transfers (SWIFT).

Giro /RTGS (Viber) payments

The Hungarian Internal Clearing System (ICS) operated by GIRO Zrt. is a payment system for the interbank clearing of domestic HUF transfers and direct debits. It is a "Real Time Gross Settlement" system called VIBER.

Banks that are connected to it will allow you to transfer HUF quickly and inexpensively between banks located in Hungary. It will be required to know the Bank Code, Branch Code and Account number of the receiving party.

You do not necessarily have to select GIRO or RTGS (VIBER) in your online banking. Your bank may call it "Bank-To-Bank transfer"  or "domestic payment method" using the details mentioned above.

SWIFT payment

The Society for Worldwide Interbank Financial Telecommunication - SWIFT - is a network that allows banks to communicate financial information securely.

SWIFT payments are offered by most banks for international money transfers, and involve a series of banks which work together to make sure your money arrives at your account.

If you transfer HUF from a financial institution outside of Hungary, the payment would likely be routed via a correspondent bank located in Hungary before reaching your account. Such payments are known as cross-border payments and often take more time to complete because of the complexity associated with involving multiple banks.

Bank transfers can take time to complete, particularly when it comes to cross-border payments, because of the complexity associated with involving multiple bank in the payment chain.

Processing bank transfers involves a number of steps, particularly for cross-border payments. These are sent via the correspondent banking network and typically pass between several different banks along the way. After being initiated, a wire transfer is sent by the debtor agent to an intermediary bank before moving on to the creditor agent. Once these steps are complete, the recipient will receive their funds.

There are a number of reasons why cross-border payments may be delayed or held up. First, not all account balances can be updated outside of the operating hours of local settlement systems. Delays can also arise if compliance checks need to be carried out, especially when a payment passes through different countries and jurisdictions.

Difference between domestic and international bank transfers

Banks make a domestic transfer to send funds to financial institutions residing in the same country or financial zone. When sending funds to financial institutions in a foreign country or financial zone, banks have to make an international bank transfer. The differences between these two bank transfers affect the number of fees banks charge and the duration it takes to complete the transfer.

How long does it usually take for my funds to arrive?

Payment Type

Timing

Approximate Cost*

Giro payment

same day up to 1 business day

free of cost or very low cost

International bank transfer (SWIFT)

from 1 to 4 business days

vary by bank

*Please consult with the sending institution about the costs to process your payment as this may vary by financial institution. IBKR does not charge fees for the deposit of funds.

IBKR credits funds real-time upon receipt. Please note that we do not have influence on the speed of transfer. Please consult with your bank regarding their processing times.

Payments that are subject to additional review may take longer to credit.

 

How to Deposit JPY to Interactive Brokers

Account holders depositing from a local Japanese bank should send funds via domestic fund transfer.

Please see below for more information regarding how to deposit funds into an IBSJ account.

 

Instructions for how to deposit JPY into your IBSJ account

A deposit notification will be required. It is recommended that you always enter a deposit notification before arranging a fund transfer with your bank.

Account holders can notify IBKR of an incoming fund transfer by entering a deposit notification in Client Portal by selecting Transfer & Pay followed by Transfer Funds and Make a Deposit.

Local bank transfers should use 'Domestic Bank Transfer.' Overseas accounts able to send JPY should use 'International Transfer.'

Banking instructions will be provided after submitting a deposit information. It is recommended that you always confirm that the banking instructions registered with your bank match those which are provided when creating a deposit notification.

Contact your bank and confirm how to complete a fund transfer using the provided bank instructions.

IMPORTANT: A deposit notification instructs your intent to send funds to your IBSJ account. Notifications DO NOT move any funds. Please arrange with your bank to send funds to your IBSJ account.

 

What methods can I use to fund my IBSJ account with JPY?

Local - Clients sending funds from a local Japanese domestic bank should send funds via domestic fund transfer.

International - Deposits from overseas bank accounts must use the 'International Transfer' method to send JPY to their IBSJ account. Confirm procedures with your sending institution on how to send an international wire using the provided banking instructions.

For both methods, account holders should confirm fees and procedures with their bank before sending funds. IBSJ is not responsible for fees charged by your bank.

 

What information does my bank need to transfer funds?

Local - Local Japanese banks will need the IBSJ bank, bank code/branch code, bank account title & address, and 7-digit destination bank account number/VAN*.

*A VAN (Virtual Account Number) is a bank account number assigned specifically to you for domestic fund transfers.  It should be used exclusively for deposits initiated by yourself and should not be shared with anyone else. A VAN will not be used for international fund transfers

International - International transfers require IBSJ's bank information, SWIFT code, bank account title & address, and 10-digit bank account number. Be sure to include your name and U-account number in the memo/reference field of the transfer details. Failure to include this information may delay the arrival of funds to your account.

Contact Client Services should additional information or assistance be required.

 

What information does IBKR need to transfer funds?

Please create a deposit notification as instructed above.

If funds are sent without a deposit notification, proof of deposit may be requested to credit the funds to your account.

 

How long does it take for my funds to arrive into my IBSJ account?

Local - Your Japanese bank's daily cutoff times may affect the funds' arrival.

Should clients miss the daily deadline set by their bank, the funds should arrive the next business day. Please confirm this information with your Japanese bank.

International - The arrival of funds may take longer when sending JPY from an international bank via International Transfer (up to 3-4 business days in some cases).

Be sure to include your name and U-account number in the memo/reference field of the transfer details. Failure to include this information may delay the arrival of funds to your account.

Confirm that you have entered a matching deposit notification for your transfer. The arrival of funds may be delayed if funds are sent without a matching deposit notification.

Payment Type   Timing   Approximate Cost
Domestic    Same day/following business day   Free to a few hundred Yen
International (SWIFT)   1 to 4 business days   Varies by bank

As costs vary by institution, please consult with the sending institution about the costs incurred to process your payment. IBKR does not charge fees for the deposit of funds.

IBKR credits funds to accounts in real-time upon receipt. Please note that we do not have any control over the speed/processing of your fund transfer. You may consider consulting your bank regarding processing times.

Payments that are subject to review may take longer to credit to the account.

 

Are third-party deposits into my IBSJ account permitted?

Funds must be sent from a bank account held in your name. Funds sent from an account using a different name will be considered third-party and will be rejected.

 

Does IBSJ charge for deposits?

IBSJ does not charge a handling fee for deposits.

Related fees (including, but not limited to: transfer fees, rejection fees, etc.) are to be paid by the account holder. IBSJ is not responsible for fees incurred due to rejected deposits.

 

Can I use a fund transfer service such as Wise or Revolut?

Fund transfer services, including Wise and Revolut, cannot be used for funding your IBSJ account. Please use a bank wire to send funds to an IBSJ account.

How to Deposit SGD to Interactive Brokers

How do I deposit SGD to Interactive Brokers?

IBKR's bank account for SGD is held in Singapore and is eligible to receive SGD transfers via domestic bank transfer (e.g. FAST) or international bank transfer (SWIFT). If your bank account is held with a local Singapore bank they will usually process SGD transfers as a domestic local transfer while clients with bank accounts outside of Singapore will use an international bank transfer (SWIFT).

We will provide you the SGD bank routing information upon completing the deposit notification in Client Portal. IBKR will provide you our bank account title and bank account number which are usually required for domestic SGD transfers from an account held in Singapore. SWIFT code will be provided for international bank transfers from a bank account held outside of Singapore. A SWIFT code is generally not required for domestic SGD transfers.

Please include your brokerage account number in the template you setup with your bank.

How long will it take for my SGD transfer to arrive?

The timing for SGD deposits varies based on the payment network your bank uses to transfer the funds.

Payment Type

Timing

Approximate Cost*

Local SGD Transfer

1 business day

free of cost or very low cost

SWIFT

from 1 to 4 business days

vary by bank

*Please consult with the sending institution about the costs to process your payment as this may vary by financial institution. IBKR does not charge fees for the deposit of SGD.

Note

  1. IBKR credits funds real-time upon receipt under normal circumstances.
  2. We do not have influence on the speed of transfer. You may consult with the sending institution regarding their processing times and cut off times. Transfers that are subject to additional review may take longer to credit.

 

Request for Payment (RFP)

What is Request for Payment?

Request for Payment (RFP) is a message that you could send via IBKR and its supporting bank to your bank to trigger a real-time credit transfer directly to your IBKR account. Your bank will prompt you via push notification or e-mail to review and approve the payment request. Upon receiving your approval, your bank will send a real-time credit transfer directly to IBKR's bank and IBKR will credit your account. Real-time payments are done on a new 24x7x365 payments platform managed by The Clearing House and available to all federally insured U.S. depository institutions.

Who is eligible to use Request For Payment?

Real-Time Payment (RTP) eligibility depends on your bank's capability to accept the request. U.S. depository institutions are actively preparing to accept RFPs and most are expected to be able to accept requests in the coming months.

What is the transaction amount limit?

The Request for Payment limit is determined by your bank. Initially limits are expected to be modest (approximately $5,000 to $10,000), but are expected to increase in the future. The RTP network's current credit transfer limit is $1,000,000.

How long does it take for the funds to be credited to my account?

Under normal circumstances you should receive the prompt to approve the Request for Payment and upon approval, the funds would be credited to your account and available to trade within a few minutes or faster. 

 

How to Deposit NOK to Interactive Brokers

What are SWIFT and RTGS transfer methods for NOK?

IBKR is able to receive NOK transferred via international bank wire (SWIFT) or RTGS (Real Time Gross Settlement payments system) to deposit NOK to your account, no matter if your bank is located within or outside of Norway.

Typically your bank may call those transfers just regular wire transfers, electronic bank transfers or bank-to-bank transfers and may not distinct between international bank wire versus RTGS. You may want to consult with your bank for further information

about the transfer system they use to facilitate your payment.

SWIFT payment

The Society for Worldwide Interbank Financial Telecommunication - understandably shortened to SWIFT - is a network that allows banks to communicate financial information securely.

SWIFT payments are offered by most banks, for international money transfers, and involve a series of banks which work together to make sure your money arrives at your account.

If you transfer NOK from a financial institution outside of Norway, they may require to use a so called intermediary or correspondent bank to route the payment through, before reaching your account and they are called cross-border payments.

Bank transfers can take time to complete, particularly when it comes to cross-border payments. Clients are increasingly accustomed to a payments experience that feels instant. But making a payment to another country can be much more complex and time-consuming.

Processing bank transfers involves a number of steps – particularly for cross-border payments. These are sent via the correspondent banking network and typically pass between several different banks along the way. After being initiated, a wire transfer is sent by the debtor agent to an intermediary bank before moving on to the creditor agent. Once these steps are complete, the recipient will receive their funds.

There are a number of reasons why cross-border payments may be delayed or held up. Firstly, not all account balances can be updated outside the operating hours of local settlement systems. Delays can also arise if compliance checks need to be carried out, especially when a payment passes through different countries and jurisdictions.

RTGS payment

RTGS stands for Real Time Gross Settlement and is the fastest way to sent money from one bank account to another within the country. Banks charges fees for this real time settlement, that vary by bank.

RTGS method is mostly used for transaction of high value. Its a system where there is continuous and real-time settlement of fund-transfers. You may not be able to select this transfer method in your online banking screen.

It is rather a system your bank will use in the background to transfer your funds upon your request if the funds are transferred within the country. You  may consult with your bank which payment system they use to transfer funds.

 

How long does it usually take for my funds to arrive?

Payment Type

Timing

Approximate Cost*

RTGS Same day to 1 business days Low cost, vary by bank

International bank transfer (SWIFT)

from 1 to 4 business days

vary by bank

*Please consult with the sending institution about the costs to process your payment as this may vary by financial institution. IBKR does not charge fees for the deposit of funds.

Note! IBKR credit funds real time upon receipt under normal circumstances. Please note that we do not have influence on the speed of transfer. You may consult with the sending institution regarding their processing times and cut off times. Payments that are subject to additional review may take longer to credit. 

How to Deposit DKK to Interactive Brokers

What transfer method can I use to fund my account in DKK?

IBKRs bank account for DKK is held with our Danish Bank and is eligible to receive DKK via RTGS (Real Time Gross Settlement) or International Bank Transfer (SWIFT).

IBKR does currently not support domestic transfer methods (local bank to bank transfer).

 

What Information does my bank need to transfer funds?

IBKR will provide you with our IBAN (International Bank Account Number) and the SWIFT code of our bank account upon completing the deposit notification in Client Portal.

If your bank is located in Denmark, they may ask you to provide local bank account details. Please explain that our account is not eligible for local bank to bank transfers and let them advise you on how to transfer funds using our IBAN/SWIFT. IBKR is working to implement local bank transfers, however we cannot provide you a date at this time when it will be available.

If your bank is located outside of Denmark, your bank will typically process payments via international bank wire (SWIFT) or the RTGS payment method. Your online banking will likely show Wire, electronic bank transfer or bank-to-bank transfer as available methods.

Your bank will select the method to transfer your funds on your behalf.

 

SWIFT payment

The Society for Worldwide Interbank Financial Telecommunication - SWIFT - is a network that allows banks to communicate financial information securely.

SWIFT payments are offered by most banks for international money transfers, and involve a series of banks which work together to make sure your money arrives at your account.

If you transfer DKK from a financial institution outside of Denmark, they may require the use of a so called intermediary or correspondent bank to route the payment through before reaching your account. These are called cross-border payments.

Bank transfers can take time to complete, particularly when it comes to cross-border payments. Clients are increasingly accustomed to a payments experience that feels instant, but making a payment to another country can be much more complex and time-consuming.

Processing bank transfers involves a number of steps – particularly for cross-border payments. These are sent via the correspondent banking network and typically pass between several different banks along the way. After being initiated, a wire transfer is sent by the debtor agent to an intermediary bank before moving on to the creditor agent. Once these steps are complete, the recipient will receive their funds.

There are a number of reasons why cross-border payments may be delayed or held up. Not all account balances can be updated outside the operating hours of local settlement systems. Delays can also arise if compliance checks need to be carried out, especially when a payment passes through different countries and jurisdictions.

RTGS payment

Kronos2 is Denmark National Bank's RTGS (Real-Time-Gross-Settlement) system for payments in Danish Krona and it is primarily used for settlement of large-value, time-critical interbank payments. You may consult with your bank which system they use to facilitate your payment.

You will typically not be given a choice on which method your bank will use to transfer your funds, and it depends as well on the size of payments, the banks involved in the transfer and what service your bank offers.

 

Difference between domestic and international bank transfer

Banks make a domestic wire transfer to send funds to financial institutions residing in the same country or financial zone. When sending funds to financial institutions in a foreign country or financial zone, banks have to make an international bank transfer. The differences between these two bank transfers affect the number of fees banks charge and the duration it takes to complete the transfer.

How long does it usually take for my funds to arrive?

Payment Type

Timing

Approximate Cost*

RTGS same to 1 business day vary by bank

International bank transfer (SWIFT)

from 1 to 4 business days

vary by bank

*Please consult with the sending institution about the costs to process your payment as this may vary by financial institution. IBKR does not charge fees for the deposit of funds.

Please note: IBKR credits funds real-time upon receipt under normal circumstances. Please note that we do not have influence on the speed of transfer. You may consult with the sending institution regarding their processing times and cut off times. Payments that are subject to additional review may take longer to credit.

How to Deposit PLN to Interactive Brokers

What transfer method can I use to fund my account in PLN?

Depending on which Interactive Brokers entity your brokerage account is held with, you may be directed to deposit PLN into an Interactive Brokers bank account held at a bank in Germany OR Poland.

If you receive our Polish Bank routing information:

Clients that receive the bank routing information for our bank located in Poland can transfer funds easily by using the provided bank details (IBAN and SWIFT), and it will likely be processed as a domestic transfer (local bank to bank transfer).

If you receive our German Bank routing information:

Even though the bank account is located outside of Poland, it is denominated in PLN and can receive PLN transfers without issues via international bank transfer (SWIFT).

Please note:

-If your bank is located in Poland, your bank application may ask if you would prefer to send funds in the currency of the destination country (which is EUR for Germany). Do not select to transfer EUR, and do not select SEPA as the transfer method as it is only valid for EUR transfers.

-Ensure that the currency sent by your bank is PLN. If you send EUR to Interactive Brokers' bank account denominated in PLN, the funds will not arrive at Interactive Brokers and will be returned to the remitter bank account automatically. Interactive Brokers will not be informed nor involved in the return process at the bank. The return process can be lengthy and fees may apply.

-Your bank may ask you for our bank's Correspondent Bank information in addition to the IBAN and SWIFT of our bank. You only need to provide this information if your bank explicitly asks for them. Do not transfer funds directly to the Correspondent Bank as funds will not be accepted and will be rejected.

 

SWIFT payment

The Society for Worldwide Interbank Financial Telecommunication - SWIFT - is a network that allows banks to communicate financial information securely.

SWIFT payments are offered by most banks for international money transfers, and involve a series of banks which work together to make sure your money arrives at your account.

If you transfer PLN from or to a financial institution outside of Poland, they may require the use of a so called intermediary or correspondent bank to route the payment through before reaching your account. These are called cross-border payments.

Bank transfers can take time to complete, particularly when it comes to cross-border payments. Clients are increasingly accustomed to a payments experience that feels instant, but making a payment to another country can be much more complex and time-consuming.

Processing bank transfers involves a number of steps – particularly for cross-border payments. These are sent via the correspondent banking network and typically pass between several different banks along the way. After being initiated, a wire transfer is sent by the debtor agent to an intermediary bank before moving on to the creditor agent. Once these steps are complete, the recipient will receive their funds.

There are a number of reasons why cross-border payments may be delayed or held up. Not all account balances can be updated outside of the operating hours of local settlement systems. Delays can also arise if compliance checks need to be carried out, especially when a payment passes through different countries and jurisdictions.

Difference between domestic and international bank transfers

Banks make a domestic transfer to send funds to financial institutions residing in the same country or financial zone. When sending funds to financial institutions in a foreign country or financial zone, banks have to make an international bank transfer. The differences between these two bank transfers affect the number of fees banks charge and the duration it takes to complete the transfer.

How long does it usually take for my funds to arrive?

Payment Type

Timing

Approximate Cost*

Domestic/Local Transfer method

same day up to 1 business day

low or no cost, vary by bank

International bank transfer (SWIFT)

from 1 to 4 business days

vary by bank

*Please consult with the sending institution about the costs to process your payment as this may vary by financial institution. IBKR does not charge fees for the deposit of funds.

IBKR credit funds real time upon receipt. Please note that we do not have influence on the speed of transfer. You may consult with your bank regarding their processing times.

Payments that are subject to additional review may take longer to credit.

 

 

Deposit Funds Using an eDDA Transfer

 

What is an eDDA?

eDDA stands for Electronic Direct Debit Authorization.  It is a Transfer Service in Hong Kong that provides clients with a fast and convenient way to draw funds, in HKD or CNY, from their Hong Kong bank account to credit their IBKR account.  Once the initial eDDA setup request has been confirmed by your bank, you can top up your IBKR account at any time by simply confirming the transfer amount.

 

Deposit method details: 

Supported Currencies

HKD, CNY     (Dependent on the currencies supported by your bank)

Bank Account type

Individual or Joint accounts held in the same name as the IBKR account

Transfer Limit

Limits may be set by your Bank or Bank accounts configuration.   Please contact your bank for further information.

Fees

Determined by your Bank, generally free

Timing

eDDA setup and transfers can support instant processing but may take longer depending on the response times from your bank.

Trading Hold

None

Withdrawal Hold

3 Business Days

 

How to setup my bank account for eDDA Transfers?

To setup a new bank account for eDDA deposits you simply need to select the transfer currency, provide your Hong Kong bank account number and confirm your authorization for IBKR to establish an eDDA on your behalf.

Follow the steps below to setup your bank account for eDDA Transfers to your IBKR account:

  1. Login to Client Portal
  2. From the Transfer & Pay menu select Transfer Fund then Make a Deposit and Use a new deposit method
  3. Select the Currency (HKD or CNH) you wish to deposit from the drop down menu
  4. Locate the eDDA Deposit Method "Instant Local Transfer via eDDA" and click Setup a new eDDA
  5. Choose Your Bank from the dropdown list available (note: if you cannot find your bank in the list, it is not currently available for eDDA transfers to IBKR)
  6. Input your Bank Account number (including your branch code)
  7. Click the Confirm button after providing an Account Nickname and your Signature

 

How will I know if my eDDA setup request was successful?

In some instances we will be able to confirm your request within 15 seconds.  If your bank is taking longer to respond, we will send you an email notification as soon as they do.

While some banks are able to process your eDDA setup request immediately, many will process same day.  It is also possible for an eDDA setup request to take up to 5 days to be processed by your bank. If you are experiencing delays, you may wish to contact your bank.

You can also check the status of your eDDA setup request by reviewing your available deposit methods in the Client Portal.  Your submitted eDDA setup request will be visible on the Make a Deposit menuYou can check the status by clicking on the (i) icon.

 

How to initiate an eDDA transfer?

Once your eDDA setup request has been confirmed, you can make an eDDA transfer at any time by simply selecting your saved instructions and confirming the transfer amount.  Most banks will transfer the funds to your IBKR account immediately.  However it is possible to take a few hours.

Follow the steps below to make an eDDA transfer to your IBKR account:

  1. Login in to Client Portal
  2. From the Transfer & Pay menu select Transfer Funds and then Make a Deposit
  3. Select the Currency of the deposit from the drop down menu (i.e. HKD or CNH)
  4. Under "Select from Your saved Deposit Information" Section
  5. Locate your Previously setup eDDA deposit
  6. Follow the remaining instructions provided to initiate the transfer with your bank. 

To avoid any unnecessary charges by your bank, please ensure you have sufficient funds in your bank account before initiating an eDDA transfer.

 

 

Troubleshooting

 

Why was my eDDA setup request rejected by my bank?

There are several possible reasons for your eDDA Instruction to be rejected by your bank, here are some examples:

  1. Your Personal Information registered with IBKR does not match your bank's records:

a)  Name of account holder

b)  Identification document type

c)  Identification document number

  1. You have input a wrong Bank Account Number or entered the Branch Code multiple times.  Please make sure branch code is only input in the designated field, and not repeated as part of the account number.
  2. You may have input the Credit Card/ Debit card number instead of bank account number for the setup.
  3. Your bank account is a joint account or corporate account:

a)  Most banks accept eDDA setup on joint accounts which have 'either party' as signatory. However, please confirm with your particular bank if this is supported.

b)  Joint accounts with 'all parties' as signatories are not accepted for eDDA.

c)  Most banks do not support eDDA setup on corporate accounts. 

  1. Your bank account status may be inactive or frozen.
  2. Your bank may require you to login to your Internet/Mobile banking to confirm your eDDA authorization request.
  3. Your bank does not support using a multicurrency account for eDDA Transfers

  

Why was my eDDA deposit transfer rejected?

There are several possible reasons for your eDDA transfer to be rejected, here are some examples:

  1. You have insufficient funds in your bank account to cover your deposit instruction
  2. Your requested transfer exceeds your bank accounts transfer limit
  3. Your requested transfer exceeds your bank accounts daily transfer limit
  4. Your eDDA setup may have expired
  5. Your bank account status may be inactive or frozen
  6. Your particulars (e.g. name, ID type & number) or your bank account number have been changed since your eDDA setup was approved

If you continue to experience multiple eDDA rejections for the same bank account after checking the common reasons listed above, you can raise a ticket via the secure message center to notify us of the issue.  Follow the steps below to raise a ticket:

  1. Login to Client Portal’s secure message center
  2. From the Compose button menu select New Ticket
  3. Select Funds & Banking from the How can we help you today? menu
  4. Select Cash Deposits from the Is your issue regarding… menu
  5. If you are trying to setup a new eDDA Instruction, select Deposit in question is not listed here and then click the click the My question is not about a specific deposit button.
    If you are trying to make a deposit using an eDDA Instruction that has been successfully setup, select the impacted deposit attempt.
  6. Provide the details of the problem you are encountering and select eDDA from the Method dropdown list

 

How to cancel an eDDA Setup?

You can cancel your ability to transfer funds to your IBKR account via eDDA at any time by following the below steps:

  1. Login in to Client Portal
  2. From the Transfer & Pay menu select Saved Information
  3. Click on your eDDA Instruction under the Bank Information to review its details
  4. Click "X" and confirm you would like to delete the information

 

Funding Via Wise

What is Wise?
Wise (formerly TransferWise) is an international online money transfer service that supports 55 currencies in 80 countries, mainly providing cross-border money transfer and foreign exchange services. Wise offers lower transaction fees than cross border bank transfers, are faster to arrive than cross-border bank transfers, and they offer competitive foreign exchange rates.

Through our collaboration with Wise, IBKR is able to provide you the following services while logged into the IBKR platform:
  • Link your IBKR account to your WISE account for funding
  • Transfer currency not directly supported by IBKR (e.g. RON, BGN, MYR, IDR) from your local bank to Wise, convert at Wise and credit your IBKR account with a supported currency (e.g. EUR, USD, etc)
  • Transfer from existing Wise balance to your IBKR account and back
 
Does IBKR allow deposits and withdrawals via Wise?
Yes, clients can deposit funds into their IBKR account via Wise and can also withdraw funds from their IBKR account back to their Wise account.
 
Who is eligible to use Wise funding methods?
Individual clients of IBLLC, IB-UK, IBIE, IBCE, IB-HK, IB-AU and IB-SG are eligible to use Wise for funds transfers.

Is it your first time using a Wise funding method?
If it is your first time using a Wise funding method in Client Portal, you will be redirected to wise.com to authorize your Wise account to be linked to Interactive Brokers.
 
If you currently do not have an account at Wise, you will be prompted to create one. IBKR will prefill your application for a Wise account with information (name, email, etc) from your IBKR account and you will have to login to wise.com to complete the on-boarding process and upload the documents Wise may ask for.

This linkage of your Wise and IBKR accounts only needs to be established once. You may only link to an account under your name at Wise.
 
How can I deposit funds via Wise?
To deposit funds via Wise, login to Client Portal and select Transfer & Pay followed by Transfer Funds. Click Make a Deposit and select the Currency you would like to deposit from the drop-down menu. Upon selecting an eligible currency, select “Bank Transfer Via Wise” OR "Transfer from Wise balance" as the funding method.

If it is your first time using a Wise funding method, you will be prompted to link your Wise account.
 
Bank Transfer via Wise: Offers a direct integration to deposit local currencies (e.g. RON, BGN, MYR, IDR).  You will send a local currency to a Wise bank account and Wise will convert and deposit to your IBKR account a currency supported by IBKR. The list of local currencies depends on the IBKR entity where you have your IBKR account.
 
You will be presented with the Quote screen. The Source Currency will populate with the local currency you selected above, and you will need to choose a Target Currency to be deposited into your IBKR account (e.g. USD, EUR). You can modify the quantity of the Source Currency to see the applicable fees, the conversion rate, the amount of the Target Currency that will arrive in your IBKR account and the expected arrival time. Once confirmed, you will be given the Wise bank account details and instructions to send the funds.

With respect to timing, funds can take from a few hours to a few business days to move from your local bank to Wise and then up to a full business day to move from Wise into your IBKR account, depending on the currencies involved.
 
Transfer from Wise Balance: You can see the balances in your multi-currency account at Wise and you can initiate a funds transfer into your IBKR account. You can either transfer the funds you hold at Wise without any conversion when the currency is supported in your IBKR account OR you can choose to convert your funds at Wise and transfer a supported currency (e.g. EUR, USD) to your IBKR account.

Funds take from a few hours to a full business day to appear in your IBKR account after leaving your Wise account, depending on the currency.
 
How can I withdraw funds to my Wise account?
You may withdraw a supported currency (e.g EUR, USD)  from your IBKR account to send into your Wise account.
 
To withdraw funds to your Wise account, login to Client Portal and select Transfer & Pay followed by Transfer Funds.
Click Make a Withdrawal and select the Currency you would like to withdraw from the drop down menu. Upon selecting an eligible currency, select “Transfer to Wise” as the withdrawal method.
 
If it is your first time using the "Transfer To Wise" withdrawal method, you will be directed to link your Wise account to your IBKR account. Once you have a linked Wise account, you will be prompted to create your withdrawal destination with the information pre-populated from your Wise account. Once created, you will be presented with a screen with your saved destinations, and your newly created destination will display as “Transfer to Wise”. Choose this selection, enter the amount, and submit the withdrawal request for processing.
 
Funds take from a few hours to a full business day to appear in your Wise account after leaving your IBKR account, depending on the currency.
 
Is there a fee to transfer funds via Wise?
There may be a fee associated with transferring funds via Wise. If applicable, this fee will be presented to you on the confirmation screen prior to submitting your funds transfer request.
 
Can I make a withdrawal to a third party via Wise?
No, you may only withdraw funds to an account under your name at Wise.
 
Who can I contact for any issues regarding my transfer?
Please contact IBKR for any inquiries regarding the initiation of your transfer in Client Portal or if your payment did not arrive in your IBKR account but left your Wise account more than 1 business day in the past.
 
For any other inquiry regarding the status of your payment or issues surrounding your payment from your bank to Wise or pending at Wise, please login directly into your Wise account and contact Wise customer service.
 
Where can I get additional information about Wise and their services?
Please refer to the Wise Help Center at www.wise.com/help.

 

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