What transfer methods are available to Clients for CAD as a funding currency?

IBKR has a bank account located at a Canadian bank which is eligible to receive CAD via Canadian transfer methods such as Bank Wire transfer, Canadian Online Bill Payment, and Canadian Electronic Funds Transfer (EFT). Bank wire needs to be used in case your bank is located outside of the Canada.

What information does my bank need to transfer CAD via Bank Wire?

We will provide you the CAD bank routing information upon completing the deposit notification in Client Portal.

1. Log in to Client Portal
2. Select Transfer & Pay followed by Transfer Funds and Make a Deposit
3. Scroll down and select Canadian Dollar (CAD) as the currency
4. Click Get Instructions next to Bank Wire as your deposit method and follow the prompts on screen
5. Once the instructions are submitted and confirmed, you can indicate the amount you wish to deposit

IBKR will provide you the account number, transit number, address of our bank account for transfer method Bank Wire, as well as our SWIFT/ BIC Code.

The deposit notification itself does NOT move your funds, you will need to go to the bank to initiate an actual wire deposit on top as well.

How to create a Canadian Online Bill Payment Notification?

This is an electronic fund transfer method available for CAD currency deposits from a CAD currency account held in your name that originates from an online payment service provided by your financial institution located in Canada.

1. Log in to Client Portal
2. Select Transfer & Pay followed by Transfer Funds and Make a Deposit
3. Scroll down and select Canadian Dollar (CAD) as the currency
4. Click Get Instructions next to Online Bill Pay as your deposit method and follow the prompts on screen
5. Once the instructions are submitted and confirmed, you can indicate the amount you wish to deposit

Then submit your bill payment on your bank's online payment service. You will simply need to add Interactive Brokers Canada as the payee and use your UXXXXXXX account number to transfer your funds.

Again, the deposit notification itself does NOT move your funds, you will need to create both a Billpay Deposit notification in Interactive Broker’s site, and initiate a Bill Pay from your online banking

How to deposit CAD via Canadian Electronic Funds Transfer (EFT)?

EFT is available for CAD currency deposits (for IB-CAN entity accounts) from a CAD currency account held in your name at a bank located in Canada that allows EFT transactions. IBKR limits EFT deposits to $100,000 USD equivalent over seven business days.

1.  Log in to Client Portal
2. Select Transfer & Pay followed by Transfer Funds and Make a Deposit
3. Scroll down and select Canadian Dollar (CAD) or United States Dollar (USD) as the currency
4. Click Get Instructions next to Connect Your Bank via EFT as your deposit method and follow the prompts on screen
5. Once the instructions are submitted and confirmed, you can indicate the amount you wish to deposit

In setting up an EFT, you will first be required to enter your bank account number (do not include the transit numbers). Then, under sending institution, click Search and input the 5 digits transit and 3 digits institution numbers.

You will also be required to complete two sets of verifications with each new instruction. The first verification is through the use of a Registration Confirmation Number which will be sent to the user email address of record to confirm your email address. The second verification sends debit and credit amounts to your bank which appear on your bank statement and which must be confirmed in your Pending Items’ page in Client Portal. This verification ensures that the person entering EFT bank information is the legitimate owner of the EFT bank account. Once the information is confirmed, you may create your first EFT deposit notification via your funding page in Client Portal by following the steps listed above.

How long does it take for the funds to be credited to an IBKR account for clients using CAD as funding currency?

 *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.