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How to deposit ZAR to Interactive Brokers

What is an International Bank Transfer (SWIFT) for ZAR?

As IBKR`s bank account for ZAR is located in the UK, your bank will be able to transfer ZAR via international bank transfer (SWIFT payment).

Your bank will require the IBAN and SWIFT code of our bank to process your payment.

South African Residents only:

The South African Reserve Bank (SARB) has currency exchange control rules in place for South African residents. Find detailed information using the below link:

https://ibkr.info/article/2888

Current Situation

Our cashiering account is a non-resident account. Therefore, we are permitted to:

  • Receive deposits in ZAR from other non-resident accounts.
  • Disburse ZAR from our cashiering account to non-resident accounts.
  • Receive deposits from accounts of South African residents.
  • Disburse ZAR to accounts of South African residents.

SWIFT payment

The Society for Worldwide Inter-bank 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 ZAR from a financial institution outside of South Africa, the payment would likely be routed via a correspondent bank located in South Africa before reaching your account. Such payments are know as cross-border payments and often take more time to complete because of the complexity associated with involving multiple banks.

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 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 transfer

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*

RTGS (Domestic) 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. You may consult with your bank regarding their processing times. Payments that are subject to additional review may take longer to credit.

How to deposit AED to Interactive Brokers

What is an International Bank Transfer (SWIFT) for AED?

As IBKR's bank account for UAE dirham (AED) is located in the UK, your bank will be able to transfer AED via international bank transfer (SWIFT payment).

Your bank will require the IBAN and SWIFT code of our bank to process your payment. Your bank may also ask you to provide the correspondent bank of our bank for AED transfers which will also be displayed upon completing a deposit notification. Please note that in most cases your bank will select the correspondent bank automatically and there will be no need to enter those details in your online banking.

Please ensure that you send funds to our bank located in the UK using the IBAN starting with "GB". Funds that are sent directly to the correspondent bank will not be accepted and will be rejected. Fees may apply for the return of the funds. Please ensure you select AED as the currency if your bank asks if you'd prefer to have it sent in local currency.

 

SWIFT payment

The Society for Worldwide Inter-bank 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 AED from a financial institution outside of the United Arab Emirates, the payment would likely be routed via a correspondent bank 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.

Processing bank transfers involves a number of steps – particularly for cross-border payments. 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 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*
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. You may consult with your bank regarding their processing times. Payments that are subject to additional review may take longer to credit.

USD Deposit Types with Interactive Brokers

What are payment transfer methods for USD?

There are several different transfer methods available depending of the location of your bank for USD transfers.

Bank Wire

To make a wire deposit to your account you will first need to provide a deposit notification through Client Portal. Once logged in to Client Portal, select the Transfer & Pay and then Transfer Funds menu options. From there you will select "Make a Deposit" followed by the Deposit Method of "Bank Wire". Click the "Get Instructions" button to get started. 

You will then be prompted to input your delivering bank details including deposit amount, currency of denomination and sending institution. Once that information has been input you will be provided with all the details (e.g., ABA number, Swift BIC Code and bank account number) in a printable form which you, in turn, can provide to your bank in order for it to initiate the wire transfer.

Please note that creation of this notification is essential as the details necessary for your bank to wire funds vary by the currency in which the wire is denominated. In addition, this notification also serves to ensure that the funds are properly matched to your account immediately upon arrival.

Direct ACH Transfer

One-time setup at your bank to link to your IBKR account. After linking accounts, log in at your bank to initiate transfers.

ACH

Automated Clearing House (ACH) deposits/withdrawals may be made to your IBKR account from and to your bank. The method referred to as ‘Connect Your Bank’ means your transfer request will be automatically processed through a message sent to your bank by IBKR.  Prior to using this method, you will need to create a standing instruction through Transfer and Pay which authorizes IBKR and your bank to electronically transfer funds between the two accounts. 

Online Bill Payment

Online Bill Payment is only available in USD. One-time setup of IBKR as a payee in your bank's bill payment application. After initial set-up, use your bank's bill payment application to move funds from your bank to IBKR.

Check

(For paper and mail based deposit of funds)

Before sending your check deposit, you should write your account number on the check. We highly encourage you to create a deposit notification, which allows us to efficiently identify your incoming funds for proper credit to your account. The specific mailing instructions, including the printing of the deposit form, and addresses will be displayed during the deposit notification process. The IBKR address for sending your check will be printed on the deposit form. Upon receipt of this deposit the notice should update to provide the availability date of the deposit.

Mobile Check

US clients using IBKR Mobile with IB Key two-factor authentication can deposit endorsed checks drawn on a US bank into their account from anywhere using Mobile Check Deposit.

Mobile Check Deposit is NOT supported for: IRAs, MMCs, partitioned accounts or Advisor Masters (Advisors cannot deposit into client accounts).

Request for Payment (RFP)

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 24x7xx365 payments managed by the Clearing House and available to all federally insured U.S. depository institutions.

Wise

IBKR offers the ability to link your Wise account with your Interactive Brokers account. Once linked, you can use your Interactive Brokers account to initiate a transfer of funds from your Wise account and/or withdraw funds to your Wise account.

Please note: If it is your first time using Wise as a funding method, 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. This linkage only needs to be established once.

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.

Bank Transfer via Wise: Offers a direct integration to deposit foreign currencies. Wise will convert your funds into an IBKR-supported currency for this method (which is EUR/USD) and deposit it into your IBKR account. Please note that this option requires the creation or linking of a Wise account.

Transfer from your Wise Balance: Initiate a funds transfer from your Wise multi-currency account to your IBKR account. Wise converts your funds into a IBKR-supported currency for this method (which is EUR/USD) and transfers the funds to your IBKR account.

Once you have a linked Wise account, you will be presented with the Quote screen. The Source Currency will populate with the currency you selected above, and you will need to choose a Target Currency to be deposited into your Interactive Brokers account (eg USD or EUR). You can modify the quantity of the Source Currency to see the applicable fees, current FX rate, the amount of the Target Currency that will arrive in your Interactive Brokers account and the expected arrival time. Once confirmed, you will be given the Wise bank account details and instructions to send the funds.

 

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

Payment Type

Timing

Approximate Cost*

Direct ACH Transfer

One-time setup at your bank to link your IBKR account.  1 business day or less after initial setup.

 Free

ACH

One -time setup of a template at IBKR to link to your bank account. After 4 business days. However, subsequent deposits maybe available immediately.

Limited to $100K per seven days.

Free
Bank Wire Depends on the banks involved - Take 1 - 4 days on average, longer for some destinations

Determined by your bank, fees do not apply
Online Bill Pay One-time setup of IBKR as a payee in your bank's bill payment application.  Available in 1 to 6 bus days, determined by your bank. Fee are determined by your bank, but generally free.
Check

Available six business days after check arrives at IBKR. Bank Checks are available immediately upon receipt. Withdrawal hold still applies

Fee are determined by your bank, but generally free.
Mobile Check Available six business days after check arrives at IBKR. Fee are determined by your bank, but generally free.
Request for Payment (RFP) Real-time payments are done on a 24x7xx365 payments managed by the Clearing House and available to all federally insured U.S. depository institutions. Free
Wise

Initiate a funds transfer from your Wise multi-currency account to your IBKR account. Wise converts your funds into a IBKR-supported currency for this method (which is EUR/USD) and transfers the funds to your IBKR account.

 

 You can modify the quantity of the Source Currency to see the applicable fees, current FX rate, the amount of the Target Currency that will arrive in your Interactive Brokers account and the expected arrival time.

 

*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 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.

 

Verplichte extra aflossing (cash sweep)

Achtergrond
Er zijn twee afzonderlijke subaccounts of segmenten onderliggend aan het IB Universalaccount, één voor de effectenposities en -saldi die onderworpen zijn aan de klantbeschermingsregels van de SEC en één voor de grondstoffenposities en -saldi die onderworpen zijn aan de klantbeschermingsregels van de CFTC. Deze Universal Accountstructuur is ontwikkeld om de administratieve overhead te verminderen die klanten anders zouden hebben als zij twee verschillende accounts zouden moeten aanhouden (bijv. overschrijvingen van contant geld tussen accounts, inloggen en bestellingen indienen via aparte accounts, meerdere afschriften, enz.) en tegelijkertijd de door de regelgeving vereiste scheiding te handhaven.

Deze regelgeving vereist dat alle effectentransacties worden uitgevoerd en marge ontvangen in het effectensegment van het universele account, terwijl grondstoffentransacties moeten worden uitgevoerd in het grondstoffensegment.1 Hoewel de regelgeving de bewaring van volgestorte effectenposities in het grondstoffensegment als margeonderpand toestaat, doet IB dit niet, waardoor de hypothecaire zekerheid ervan wordt beperkt tot de restrictievere regels van de SEC. Gezien de regelgeving en het beleid die de beslissing om posities aan te houden in het ene segment versus het andere bepalen, blijft contant geld het enige activum dat tussen de twee kan worden overgedragen en waarover de klant kan beslissen.

Hieronder volgt een bespreking van de aangeboden opties voor verplichte extra aflossing, de procedure voor het selecteren van een optie en de selectieoverwegingen.

 
Opties voor verplichte extra aflossing (cash sweep)
Klanten kunnen kiezen uit 3 opties voor sweeps, waarvan de beschrijvingen hieronder staan:
 
 1. Geen sweep van overtollige middelen - bij deze keuze worden overtollige middelen niet van het ene segment naar het andere verplaatst, tenzij dit noodzakelijk is om:
a. een margetekort in het andere segment op te heffen/te verminderen;
 
b. een debetsaldo in contanten en dus rentelasten in een bepaald segment te minimaliseren.  Let op: dit is de standaardoptie en de enige optie voor accounthouders met slechts één van de handelspermissies voor effecten of grondstoffen.
 
2. Sweep van overtollige middelen naar mijn IB-account voor effecten - hier worden kassaldi alleen in het segment grondstoffen aangehouden voor zover dat nodig is om aan de huidige margevereiste voor grondstoffen te voldoen. Alle contanten die hoger zijn dan de margevereisten en die worden gegenereerd als gevolg van hetzij een toename van de contanten (bijv. gunstige variatie en/of transactiegerelateerd), hetzij een afname van de margevereiste (bijv. wijzigingen in de SPAN-risicomatrixen en/of transactiegerelateerd), worden automatisch overgeboekt van het grondstoffensegment naar het effectensegment. Let op: de accounthouder moet toestemming hebben om effecten te verhandelen om deze optie te kunnen selecteren.
 
3. Sweep overtollige middelen naar mijn IB-account voor grondstoffen - hier worden kassaldi alleen in het effectensegment aangehouden voor zover zij, samen met eventuele andere effectenposities met leenwaarde, nodig zijn om aan de huidige margevereiste voor effecten te voldoen. Let op: de accounthouder moet toestemming hebben om grondstoffen te verhandelen om deze optie te kunnen selecteren. 
 
Andere items om op te letten:
-  Aangezien het Universal Account het mogelijk maakt kassaldi in verschillende valuta's aan te houden, bestaat er een hiërarchie om te bepalen welke bepaalde valuta eerst moet worden overgeboekt wanneer er lange saldi in meerdere valuta's bestaan In deze situaties worden eerst de saldi in de basisvaluta overgeboekt, vervolgens de USD en vervolgens de resterende lange saldi in ander valuta's, van hoog naar laag.
 
- Om de kans te minimaliseren dat een segment een margetekort oploopt na de overdracht van overtollige contanten naar het andere segment, wordt niet het volledige overschot overgedragen en wordt een buffer gelijk aan 5% van de onderhoudsmargevereiste aangehouden. Om de operationele overhead van de overdracht van nominale saldi tot een minimum te beperken, zullen saldi alleen worden overgedragen indien, na verrekening van de 5%-margebuffer, het eventuele overschot niet minder dan 1% van het accountvermogen of $ 200 bedraagt.
 
- Bij het uitvoeren van de kredietcontrole vóór de transactie om te bepalen of een account voldoende eigen vermogen aanhoudt om een nieuwe order te ondersteunen, wordt een overschot aan contanten in het ene segment in aanmerking genomen voor transacties in het andere segment (hoewel een sweep pas plaatsvindt nadat de transactie is uitgevoerd en alleen als het dan nodig blijft om aan de margeverplichtingen te voldoen).  Accounts die zijn aangemerkt als Pattern Day Trader (patroondaghandelaar) en die zijn onderworpen aan een kredietcontrole vóór de transactie waarbij rekening wordt gehouden met het vermogen van de vorige en de huidige dag, dienen bijzondere aandacht te besteden aan het onderstaande onderdeel 'Selectieoverwegingen'.
 
 
Een sweep-optie selecteren
Als uw versie van Accountbeheer een reeks menu-opties aan de linkerkant bevat, selecteert u de menu-opties Accountadministratie en vervolgens Sweep van overtollige middelen.  Als uw versie menu-opties heeft aan de bovenkant, selecteert u de menu-opties Beheer account/instellingen en vervolgens Configureer account/Sweep van overtollige middelen. Ongeacht uw versie krijgt u het volgende scherm te zien:
 

U kunt vervolgens het keuzerondje naast de optie van uw keuze selecteren en op de knop Doorgaan klikken. Uw keuze wordt van kracht vanaf de eerstvolgende werkdag en blijft van kracht totdat een andere optie is gekozen. Met inachtneming van de hierboven vermelde instellingen voor handelsrechten is er geen beperking op wanneer of hoe vaak u uw veegmethode mag wijzigen. 

 

Selectieoverwegingen
Hoewel de beslissing om het ene segment te verkiezen boven het andere met het oog op het aanhouden van overtollige kasmiddelen kan worden beïnvloed door subjectieve keuzes en voorkeuren die uniek zijn voor elke klant (bv. klant houdt activa aan die aanzienlijk en geconcentreerd zijn in het ene segment vs. het andere), worden hieronder verschillende factoren beschreven die in overweging moeten worden genomen:
 
1. Pattern Day Trading Equity - De koopkracht van effecten van accounts die door de regelgeving zijn aangewezen als patroondaghandelaren (d.w.z. 4 of meer dagtransacties binnen een periode van 5 werkdagen) wordt beperkt door het laagste van de huidige of voorgaande dagwaarde in het effectensegment. Een keuze om overtollige middelen naar het grondstoffensegment over te dragen, voorkomt dat deze middelen in deze berekening worden opgenomen, waardoor de capaciteit om nieuwe orders in te voeren mogelijk wordt beperkt. Om het gebruik van eigen vermogen voor het invoeren van effectenorders te maximaliseren, zou men ervoor moeten kiezen om overtollige fondsen naar het effectensegment te vegen.  Let op dat een keuze voor het effectensegment geen afbreuk doet aan de mogelijkheid om grondstoffenorders in te voeren, aangezien de regels voor patroondaghandel niet van toepassing zijn op dergelijke accounts.
 
2. Verzekering – SIPC-bescherming wordt verleend aan activa in het effectensegment en er is geen overeenkomstige verzekeringsregeling voor het grondstoffensegment. Saldi boven de SIPC-sublimiet van $ 250.000 in contanten (Lloyd-sublimiet van $ 900.000 in contanten, indien van toepassing) worden echter niet gedekt. Klanten van IB Canada en IB UK zijn ook onderworpen aan dekkingsregels zoals gespecificeerd door respectievelijk het CIPF en de FSCS.
 
3. Rente-inkomsten –als alle andere omstandigheden gelijk blijven, zullen klanten waarschijnlijk de meest optimale rente-inkomsten ontvangen op lange kassaldi die niet zijn opgesplitst tussen de segmenten effecten en grondstoffen, aangezien deze niet worden samengevoegd voor rentekredietdoeleinden (aangezien zij onderworpen zijn aan afzonderlijke segregatiepools en herbeleggingsregels).  Dit, samen met het feit dat voor kredieten een minimaal kassaldo moet worden aangehouden en dat voor hogere saldi preferentiële tarieven gelden, zijn factoren waarmee rekening moet worden gehouden bij de keuze voor sweep.2
 
 
 
Voetnoten:
11Aangezien OneChicago enkelvoudige aandelenfutures een hybride product zijn dat gezamenlijk door de SEC en de CFTC wordt gereguleerd, kunnen ze op beide accounttypes worden gekocht en verkocht. IB voert dergelijke transacties echter uit in het effectensegment van het Universal Account, omdat dit nodig is om de marge tussen de enkelvoudige aandelenfutures en elke kwalificerende aandelen- of optiepositie te verlichten.
 
22Neem bijvoorbeeld een account dat een lang USD-saldo van $ 9.000 aanhoudt in elk van de segmenten (effecten en grondstoffen). Afhankelijk van de benchmark Fed Funds Effective Rate, zou het account in aanmerking komen voor rente op $ 8.000 ($ 18.000 - $ 10.000) als de twee saldi in één segment zouden worden aangehouden, maar aangezien saldi onder $ 10.000 in een van de twee segmenten niet in aanmerking komen voor rente, zou het account niets kunnen opleveren zonder te kiezen voor een sweep-optie. Ook zou men in aanmerking komen voor rente op een hoger niveau als de accounthouder als gevolg van een sweep-keuze in een bepaald segment een lang USD-kassaldo van meer dan $ 100.000 zou bereiken. Voor aanvullende informatie over renteberekeningen, inclusief een link naar de actuele benchmarkrente, zie KB39.

 

How to deposit TRY to Interactive Brokers

What are RTGS transfers and International Bank Transfers (SWIFT) for TRY?

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

RTGS (Real Time Gross Settlement System/domestic) transfers are available at banks located in Turkey for bank-to-bank transfers while banks located outside of Turkey will likely offer International Bank Transfers (SWIFT).

In both cases your bank may just require the IBAN and SWIFT code of our bank to process your payment.

RTGS payments

RTGS (Real Time Gross Settlement payment) is a special type of payment where the transfer of money takes place from one bank to another within Turkey on a real time and gross basis.

Settlement in real time means the payment is not subject to any excessive waiting period. You usually are required to know the IBAN and SWIFT of the receiving bank account. Your bank will automatically select the payment system based on your location and you will likely have no choice to select in your online banking. Otherwise, please consult with your bank for information about how they process your payment.

SWIFT payment

The Society for Worldwide Inter-bank 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 TRY from a financial institution outside of Turkey, the payment would likely be routed via a correspondent bank located in Turkey 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.

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 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*

RTGS (Domestic) 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.

Note: IBKR credits 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. 

How to deposit NZD to Interactive Brokers

What are the available transfer methods to deposit NZD to Interactive Brokers?

If your bank is located in New Zealand, your bank will transfer NZD as a domestic payment/local Electronic Transfer with low or no cost.

If your bank is located outside of New Zealand, your bank may only offer an international bank transfer (SWIFT) to transfer NZD which will generate bank charges.

Local Electronic Funds Transfer

If you transfer from a financial institution located in New Zealand, they usually process your NZD payment as a local transfer.

By entering the full 15 or 16-digit bank account number which contains the bank code, branch code and our IBKR bank account numbers, the system will automatically recognize it as local and process the payment accordingly.

SWIFT payment for a sender bank outside New Zealand

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 NZD from a financial institution outside of New Zealand, they may require the use of an intermediary or a correspondent bank to route the payment through before reaching our bank 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. 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 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. In order to avoid delays in processing your fund deposits, please include your IBKR Account number and your full name in the transaction payment which allows our system to apply the funds into your IBKR account as soon as possible.  

Difference between domestic and international bank transfers

Banks make a local electronic funds 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 via SWIFT. The main differences between these two bank transfers are the processing time and higher costs of transfer via SWIFT.

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

Payment Type

Timing

Approximate Cost*

Local NZD Electronic Transfer

1 – 2 business days

free 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 funds.

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 AUD to Interactive Brokers

What are the available transfer methods to deposit AUD to Interactive Brokers?

If your bank is located in Australia, your bank will transfer AUD as a local payment with low or no cost.
If your bank is located outside Australia, your bank may only offer an international bank transfer (SWIFT) to transfer AUD.

Local AUD payments

Electronic Funds Transfer (Local EFT)

It is easy to send or transfer money from an Australian bank account using your online banking app. The information you need are the following details:

  • Account Name
  • BSB number
  • IBKR Bank Account number(Local EFT)

You will be told in the Client Portal the IBKR Bank account where to send the funds. Please include your U-account number in your EFT payment in the 'message to recipient' field. The U-account is your brokerage account at IBKR (for most clients this is letter "U" followed by digits). Payments received in IBKR's bank account without an U-account number may require additional proof of deposit and cause delays for processing the deposit.

BPAY

BPAY is also a convenient way to send your AUD to your IBKR brokerage account.

To transfer funds via BPAY to your IBKR account you will first need to get the Biller Code and Customer Reference Number (CRN) from IBKR:

  1. Log in to your IBKR account via Client Portal
  2. Select Transfer & Pay followed by Transfer Funds and Deposit Funds
  3. Set currency to Australian Dollar (AUD)
  4. Click the Get Instructions button next to Online BPAY
  5. Enter the Amount in AUD and select Continue.
  6. You will see a page with the Biller Code and Customer Reference Number (CRN)
  7. Log in to your bank's online payment system and initiate a BPAY and include the Biller Code and Customer Reference Number (CRN) provided by IBKR

International transfer via SWIFT payment (For a bank account you hold outside Australia only)

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 AUD from a financial institution outside Australia, they may require the use of an intermediary or correspondent bank to route the payment through before reaching your account. This is called a cross-border payment.

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. 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 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 transfer

Banks make a local 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

Estimated Time

Approximate Cost*

Local Electronic Funds Transfer

1- 2 business days

free of cost or very low cost

BPAY

1- 2 business days

free of cost or very low cost

International Transfer via SWIFT

Approx. 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 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 Mexican Peso (MXN) to Interactive Brokers

Interbank Transfer (Transferencia Interbancaria)

Interactive Brokers is temporarily not able to accept deposits using CLABE while we work with our banking providers to restore this service.

Bank Transfer (Transferencia Bancaria)

Bank Transfer is the transfer method for clients depositing Mexican Peso (MXN) who bank with Banamex. When setting up the Bank Transfer you will need the 10 digit account number.

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

Payment Type

Timing

Approximate Cost*
Interbank Transfer (Transferencia Interbancaria)/SPEI Same Day vary by sending bank

Bank Transfer (Transferencia Bancaria)

Up to 48 business hours

vary by sending 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 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 HKD to Interactive Brokers

Different deposit methods may be available to you depending on the country in which your bank account is held and the Interactive Brokers entity your trading account was opened under. 

Deposit Methods Only Available to Clients of Interactive Brokers Hong Kong Ltd (IBHK)

Faster Payment System (FPS)

The Faster Payment System (FPS) is a payment infrastructure introduced by the Hong Kong Monetary Authority (HKMA) and operated by Hong Kong Interbank Clearing Limited (HKICL) to enable instant payments in HK.

Fund transfers from your Hong Kong (HK) bank account are instructed by entering our FPS ID number, or by scanning a QR code, as provided in our transfer instructions. While the FPS ID can be used for all transfer amounts, QR codes are only provided for small-value payments (i.e. 10,000 HKD or below). Funds are generally received and credited within hours.

Electronic Direct Debit Authorization (eDDA)

Using the Faster Payment System, eDDA offers a quick and convenient way to draw funds from your HK bank account to credit your IBHK account. 

To setup your HK bank account for eDDA deposits, you simply need to select the transfer currency, provide your bank account number, and confirm your authorization for IBKR to establish an eDDA on your behalf. Once the initial eDDA setup request has been confirmed by your bank, you can top up your IBHK account at any time by simply confirming the desired transfer amount in the Make a Deposit section of Client Portal. Funds are generally received and credited within minutes.

HKD Check

IBHK can accept personal checks either mailed or dropped off in person to one of our Hong Kong offices, so long as the check meets the following conditions:

  • It is denominated in Hong Kong Dollars,
  • It has a value of at least HKD 10,000.00,
  • It is not postdated or from a third-party bank account,
  • It is signed and dated by the account holder,
  • The back includes your IBHK account number (i.e. U########) and account name

If the check is being dropped off, please ensure you have your HK ID / Passport with you. If a third party is dropping off the check for you, they will need to have a letter, signed by you, authorizing them to do so on your behalf.

For mailed in checks, if you are sending the check to remove a funding restriction on your account, ensure the check is posted in the same letter as all supporting forms and a copy of your HK ID / Passport.

Checks received by IBKR before 12pm (noon) are generally credited to your account within two business days. Funds will only be available in your account after the check is cleared by your bank. 

Deposit Methods Available to All Interactive Brokers Clients

Domestic Bank Transfer

Banks in HK offer interbank payments in HKD. To make a local HKD transfer you will need to provide your HK bank, via online banking/branch, the account details generated for you when you confirm your intended deposit details in the Make a Deposit section of Client Portal using the Bank Wire Deposit Method. This includes the bank account name, bank code, branch code and bank account number. Depending on the time it takes for your bank to process the transfer, funds are usually received and credited within hours.

International Bank Transfer (SWIFT/ WIRE)

The Society for Worldwide Interbank Financial Telecommunication (SWIFT), is a network that allows banks to communicate financial information securely around the globe. Most banks offer international money transfers using the SWIFT network.  When a payment is instructed, a series of banks will work together to make sure your money arrives at the instructed destination account.

A transfer of HKD from a financial institution outside of Hong Kong is known as a cross-border payment. Your bank may use an intermediary or correspondent bank to transfer the funds to our bank.

Cross-border payments can take some time to complete as they are processed 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 which transfers the funds to the creditor agent. Once these steps are complete, the recipient will receive their funds.

There are numerous reasons why a cross-border payment may be delayed or held up. First, not all banks can process transfers 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. While newer payment systems allow almost instant transfers, making a payment to another country can be much more complex and time-consuming.

To make an international HKD transfer you will need to provide your bank with the account details generated for you when you confirm your intended deposit details in the Make a Deposit section of Client Portal using the Bank Wire Deposit Method. This includes the bank account name, bank code, branch code, bank account number, SWIFT code, account address and payment reference.

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*

Fast Payment System (FPS)

Usually same day within hours

free of cost or very low cost

Electronic Direct Debit Authorization (eDDA)

Usually same day within minutes

free of cost or very low cost

Local Bank Transfer

Usually same day within hours

free of cost or very low cost

Mail a check

Available in two business days after check arrival

free of cost

International Bank Transfer (SWIFT/WIRE)

From 1 to 4 business day

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. You may consult with your bank regarding their processing times.

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

How to Deposit CNH (Offshore RMB) to Interactive Brokers

Different deposit methods may be available to you depending on the country in which your bank account is held and the Interactive Brokers entity your trading account was opened under. 

Deposit Methods Only Available to Clients of Interactive Brokers Hong Kong Ltd (IBHK)

Instant Local Transfer via FPS

The Faster Payment System (FPS) is a payment infrastructure introduced by the Hong Kong Monetary Authority (HKMA) and operated by Hong Kong Interbank Clearing Limited (HKICL) to enable instant payments in HK.

Fund transfers from your Hong Kong (HK) bank account are instructed by entering our FPS ID number, or by scanning a QR code, as provided in our transfer instructions. While the FPS ID can be used for all transfer amounts, QR codes are only provided for small-value payments (i.e. 10,000 HKD equivalent or below). Funds are generally received and credited within hours.

Electronic Direct Debit Authorization (eDDA)

Using the Faster Payment System, eDDA offers a quick and convenient way to draw funds from your HK bank account to credit your IBHK account. 

To setup your HK bank account for eDDA deposits, you simply need to select the transfer currency, provide your bank account number, and confirm your authorization for IBKR to establish an eDDA on your behalf. Once the initial eDDA setup request has been confirmed by your bank, you can top up your IBHK account at any time by simply confirming the desired transfer amount in the Make a Deposit section of Client Portal. Funds are generally received and credited within minutes.

Deposit Methods Available to All Interactive Broker Clients

Local Bank Transfer

Banks in HK offer interbank payments denominated in CNH via the renminbi RTGS system by opening renminbi settlement accounts with the Clearing Bank. To make a local CNH transfer you will need to provide your HK bank, via online banking/branch, the account details generated for you when you confirm your intended deposit details in the Make a Deposit section of Client Portal using the Bank Wire Deposit Method. This includes the bank account name, bank code, branch code and bank account number. Funds are generally received and credited within hours.

International Bank Transfer (SWIFT/ WIRE)

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a network that allows banks to communicate financial information securely around the globe. Most banks offer international money transfers using the SWIFT network.  When a payment is instructed, a series of banks will work together to make sure your money arrives at the instructed destination account.

If you transfer CNH from a financial institution outside of Hong Kong, they may require the use of an intermediary or correspondent bank to route the payment through before reaching your account. These are known as cross-border payments. 

Bank transfers can take time to complete as processing involves several steps, especially for cross-border payments as they 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 numerous reasons why a cross-border payment 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. While clients are increasingly accustomed to a payments experience that feels instant, making a payment to another country can be much more complex and time-consuming.

To make an international CNH transfer you will need to provide your bank with the account details generated for you when you confirm your intended deposit details in the Make a Deposit section of Client Portal using the Bank Wire Deposit Method. This includes the bank account name, bank code, branch code, bank account number, SWIFT code, account address and payment reference.

Difference Between Domestic and International Bank Transfer

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*

Fast Payment System (FPS)

Usually same day within hours

free of cost or very low cost

Electronic Direct Debit Authorization (eDDA)

Usually same day within minutes

free of cost or very low cost

Local Bank Transfer

Usually same day within hours

free of cost or very low cost

International Bank Transfer (SWIFT)

From 1 to 4 business day

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. You may consult with your bank regarding their processing times.

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

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