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

IBKR is currently not offering a local bank account held with a bank in Czech Republic that would allow you to use domestic transfer method to fund your account in CZK.

Depending on which Interactive Brokers entity your brokerage account is held with, you may be directed to deposit CZK into an Interactive Brokers bank account held at a bank in Germany. However, please note that even though the bank account is located outside of the Czech Republic, it is denominated in CZK and can receive CZK transfers without issues. IBKR is currently not offering a local bank account in Czech Republic that would allow you to use domestic transfer method to fund your account.

IMPORTANT: You must instruct your bank to transfer CZK.

If your bank is located in the Czech Republic, 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 CZK.

Certain banks in the Czech Republic may send funds in EUR by default when the destination bank is in Germany if you use their mobile application. We advise you to avoid using the mobile application and switch to their desktop application instead.

A list of banks affected can be found below. Please note that we cannot confirm the accuracy of the information provided, as they are based on client feedback and user experience. We recommend contacting your bank for further assistance on how to use their platforms and how to transfer funds in CZK:

• mBank
• ČSOB
• Komerční Banka
• Equa bank
• Česká spořitelna

IMPORTANT: If you send EUR to Interactive Brokers' bank account denominated in CZK, 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.

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 CZK from or to a financial institution outside of Czech Republic, 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.

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?

*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.

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

*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.