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.