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Common FAQs when depositing USD from a DBS Bank account to an IBSG account

How do I obtain Interactive Brokers Singapore DBS USD bank account details?

To obtain instructions for depositing USD into your IB Singapore account through a DBS Singapore bank account follow the steps below:
  1. Log in to Client Portal.
  2. From the Transfer & Pay menu select Transfer Funds and then Make a Deposit.
  3. Create a new deposit instruction by selecting USD as the Currency of the deposit from the drop-down menu.
  4. To get the Instructions select YES to "Are you transferring funds from DBS Bank in Singapore?".
  5. Then you will be presented with IBKR’s DBS Singapore receiving bank account details.

Notes

  • Upon completing the deposit notification, you will need to contact the institution that is transferring funds to initiate the transaction.
  • You may be asked to provide the name and account number for the institution you are transferring funds from and the amount IBKR should expect to receive.
  • As part of its anti-money laundering efforts, IBKR implements restrictions on certain client deposits and withdrawals.
  • Find out more about Funds Transfer Restrictions in the IBKR Knowledge Base.

 

Why were my funds received in SGD?

Receiving your USD deposit in SGD usually happens when the wrong wallet is selected on the DBS banking platform. SGD is generally the default wallet selected on the banking platform. To change the wallet, after selecting Interactive Brokers Singapore’s DBS bank account as the recipient:

Mobile Application

  1. Tap on the bank account number
  2. Select USD under Currency

Website Banking Platform

  1. Select USD from the drop down list

If you are uncertain on how to navigate the banking platform, please reach out to DBS support for further assistance.

 

Why did I receive the error message “Enter a valid foreign currency corporate account that has 13 digits or starts with 885”?

The error message “Enter a valid foreign currency corporate account that has 13 digits or starts with 885” appears when overseas wire/foreign transfer is selected instead of local transfer. Please ensure that on the Mobile Application, select Pay and Transfer then Local Transfer. On the Website, select Transfer then To other DBS or POSB account.

 

Can I deposit USD from a Non-DBS bank account to the DBS USD receiving bank account?

No, you can not deposit USD from a Non-DBS bank account to the DBS USD receiving bank account.

Depositing into a DBS USD receiving bank account is exclusively for clients initiating the USD transfer from a DBS bank account. If you are depositing USD from a non-DBS bank account, you will need to create a corresponding deposit notification within Client Portal by selecting "No" to "Are you transferring funds from DBS Bank in Singapore?" in order to obtain IB's USD receiving bank account details for our US bank.

Please Note

  •  Transfer attempts in USD to our DBS account from a non-DBS bank account may result in rejections and fees charged.