How to Deposit CAD to Interactive Brokers

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?

Payment Type

Timing

Approximate Cost*

Bank Wire

Usually 1 business day or less

Determined by your bank

Canadian Online Bill Payment

Usually 3 business days

$0

Canadian Electronic Funds Transfer (EFT),

Usually 5 business days

$0

 *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.

Financiering via Wise

Wat is Wise?
Wise (voorheen TransferWise) is een internationale online geldtransferdienst die 55 valuta's in 80 landen ondersteunt en voornamelijk internationale geldtransfers en wisseldiensten aanbiedt. Wise biedt lagere transactiekosten dan internationale bankoverschrijvingen, komt sneller aan dan internationale bankoverschrijvingen en biedt concurrerende wisselkoersen.

Door onze samenwerking met Wise kan IBKR u de volgende diensten aanbieden wanneer u ingelogd bent op het IBKR-platform:
  • Koppel uw IBKR-account aan uw Wise-rekening voor financiering
  • Schrijf valuta over die niet direct door IBKR worden ondersteund (bijv. RON, BGN, MYR, IDR) van uw lokale bank naar Wise, zet het om bij Wise en stort een ondersteunde valuta op uw IBKR-account (bijv. EUR, USD, enz.)
  • Overschrijving van bestaand Wise-saldo naar uw IBKR-account en terug
 
Staat IBKR stortingen en opnames via Wise toe?
Ja, klanten kunnen via Wise geld storten op hun IBKR-account en ook geld opnemen van hun IBKR-account naar hun Wise-rekening.
 
Wie komt in aanmerking voor de financieringsmethoden van Wise?
Individuele klanten van IBLLC, IB-UK, IBIE, IBCE, IB-HK, IB-AU en IB-SG komen in aanmerking om Wise te gebruiken voor overboekingen.

Is het de eerste keer dat u een Wise-financieringsmethode gebruikt?
Als u voor het eerst een Wise-financieringsmethode gebruikt in het klantenportaal, wordt u doorgestuurd naar wise.com om uw Wise-rekening te autoriseren voor de koppeling met Interactive Brokers.
 
Als u nog geen rekening heeft bij Wise, wordt u gevraagd er een aan te maken. IBKR zal uw aanvraag voor een Wise-rekening vooraf invullen met informatie (naam, e-mail, enz.) van uw IBKR-account en u zult moeten inloggen op wise.com om het aanmeldingsproces te voltooien en de documenten waar Wise om vraagt te uploaden.

Deze koppeling van uw Wise- en IBKR-accounts hoeft maar één keer te worden gemaakt. U kunt enkel linken naar een Wise-rekening op uw naam.
 
Hoe kan ik geld storten via Wise?
Om geld te storten via Wise, logt u in op het klantenportaal en selecteert u Transfer & Pay (overschrijven & betalen) gevolgd door Transfer Funds (geld overmaken). Klik op Make a Deposit (doe een storting) en selecteer in het uitklapmenu de valuta die u wilt storten. Nadat u een in aanmerking komende valuta heeft geselecteerd, selecteert u als financieringsmethode Bank Transfer Via Wise (bankoverschrijving via Wise) OF Transfer from Wise balance (overschrijving van Wise-saldo).

Als het de eerste keer is dat u een Wise-financieringsmethode gebruikt, wordt u gevraagd uw Wise-rekening te koppelen.
 
Bankoverschrijving via Wise: Biedt een directe integratie voor het storten van lokale valuta (bijv. RON, BGN, MYR, IDR).  U stuurt een lokale valuta naar een Wise-bankrekening en Wise converteert en stort op uw IBKR-account een valuta die door IBKR wordt ondersteund. De lijst van lokale valuta's hangt af van de IBKR-entiteit waar u uw IBKR-account heeft.
 
U krijgt het quotescherm te zien. De bronvaluta wordt ingevuld met de lokale valuta die u hierboven heeft geselecteerd, en u moet een doelvaluta kiezen om op uw IBKR-account te storten (bijv. USD, EUR). U kunt de hoeveelheid bronvaluta wijzigen om de bijbehorende kosten, de omrekeningskoers, het bedrag van de doelvaluta dat op uw IBKR-account komt en de verwachte aankomsttijd te zien. Na bevestiging krijgt u de bankgegevens van Wise en instructies om het geld over te maken.

Wat de timing betreft, kan het enkele uren tot enkele werkdagen duren voordat het geld van uw lokale bank naar Wise is overgemaakt en vervolgens tot een volledige werkdag voordat het van Wise naar uw IBKR-account is overgemaakt, afhankelijk van de gekozen valuta.
 
Overschrijving van Wise-saldo: U kunt de saldi op uw multi-valutarekening bij Wise zien en u kunt een overschrijving naar uw IBKR-account initiëren. U kunt het geld dat u bij Wise beschikbaar heeft zonder omzetting overmaken als de valuta op uw IBKR-account wordt ondersteund OF u kunt ervoor kiezen om uw geld bij Wise om te zetten en een ondersteunde valuta (bijv. EUR, USD) over te maken naar uw IBKR-account.

Afhankelijk van de valuta duurt het enkele uren tot een volledige werkdag voordat het geld op uw IBKR-account staat nadat het van uw Wise-rekening is overgemaakt.
 
Hoe kan ik geld overmaken naar mijn Wise-rekening?
U kunt een ondersteunde valuta (bijv. EUR, USD) van uw IBKR-account overmaken naar uw Wise-rekening.
 
Om geld over te maken naar uw Wise-rekening, logt u in op het klantenportaal en selecteert u Transfer & Pay (overschrijven & betalen) gevolgd door Transfer Funds (geld overmaken).
Klik op Make a Withdrawal (geld opnemen) en selecteer de valuta die u wilt opnemen in het keuzemenu. Nadat u een in aanmerking komende valuta heeft geselecteerd, selecteert u Transfer to Wise (overschrijving naar Wise) als opnamemethode.
 
Als u voor het eerst de opnamemethode Transfer To Wise (overschrijving naar Wise) gebruikt, wordt u gevraagd uw Wise-rekening aan uw IBKR-account te koppelen. Zodra u een gekoppeld Wise-rekening heeft, wordt u gevraagd uw opnamebestemming aan te maken met de informatie die vooraf is ingevuld op uw Wise-rekening. Na het aanmaken krijgt u een scherm met uw opgeslagen bestemmingen, en uw nieuw aangemaakte bestemming wordt weergegeven als 'Transfer to Wise’ (overschrijving naar Wise). Kies deze optie, voer het bedrag in en dien het opnameverzoek in voor verwerking.
 
Afhankelijk van de valuta duurt het enkele uren tot een volledige werkdag voordat het geld op uw Wise-rekening staat nadat het van uw IBKR-account is overgemaakt.
 
Zijn er kosten verbonden aan het overmaken van geld via Wise?
Er kunnen kosten verbonden zijn aan het overmaken van geld via Wise. Indien van toepassing worden deze kosten aan u getoond op het bevestigingsscherm voordat u uw verzoek tot overschrijving indient.
 
Kan ik via Wise een overschrijving doen naar een derde partij?
Nee, u kunt alleen geld opnemen naar een Wise-account op uw naam.
 
Met wie kan ik contact opnemen als ik problemen heb met mijn overschrijving?
Neem contact op met IBKR voor vragen over de initiëring van uw overschrijving in het klantenportaal of als uw betaling niet is aangekomen op uw IBKR-account maar meer dan 1 werkdag geleden van uw Wise-account is overgemaakt.
 
Voor alle andere vragen over de status van uw betaling of problemen rond uw betaling van uw bank aan Wise of in behandeling bij Wise, kunt u rechtstreeks inloggen op uw Wise-rekening en contact opnemen met de klantendienst van Wise.
 
Waar kan ik meer informatie krijgen over Wise en hun diensten?
Raadpleeg het Wise-helpcentrum op www.wise.com/help.

 

Request for Payment (RFP)

What is Request for Payment?

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 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 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. 

 

How to deposit HUF to Interactive Brokers

What are Giro/RTGS (Viber) transfers and International Bank Transfers (SWIFT) for HUF?

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

GIRO/ RTGS VIBER (domestic) transfers are available at banks located in Hungary for bank-to-bank transfers while banks located outside of Hungary will likely offer International Bank Transfers (SWIFT).

Giro /RTGS (Viber) payments

The Hungarian Internal Clearing System (ICS) operated by GIRO Zrt. is a payment system for the interbank clearing of domestic HUF transfers and direct debits. It is a "Real Time Gross Settlement" system called VIBER.

Banks that are connected to it will allow you to transfer HUF quickly and inexpensively between banks located in Hungary. It will be required to know the Bank Code, Branch Code and Account number of the receiving party.

You do not necessarily have to select GIRO or RTGS (VIBER) in your online banking. Your bank may call it "Bank-To-Bank transfer"  or "domestic payment method" using the details mentioned above.

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 HUF from a financial institution outside of Hungary, the payment would likely be routed via a correspondent bank located in Hungary 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.

Bank transfers can take time to complete, particularly when it comes to cross-border payments, because of the complexity associated with involving multiple bank in the payment chain.

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 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.

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*

Giro 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. Please consult with your bank regarding their processing times.

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

 

How to Deposit JPY to Interactive Brokers

Account holders depositing from a local Japanese bank should send funds via domestic fund transfer.

Please see below for more information regarding how to deposit funds into an IBSJ account.

 

Instructions for how to deposit JPY into your IBSJ account

A deposit notification will be required. It is recommended that you always enter a deposit notification before arranging a fund transfer with your bank.

Account holders can notify IBKR of an incoming fund transfer by entering a deposit notification in Client Portal by selecting Transfer & Pay followed by Transfer Funds and Make a Deposit.

Local bank transfers should use 'Domestic Bank Transfer.' Overseas accounts able to send JPY should use 'International Transfer.'

Banking instructions will be provided after submitting a deposit information. It is recommended that you always confirm that the banking instructions registered with your bank match those which are provided when creating a deposit notification.

Contact your bank and confirm how to complete a fund transfer using the provided bank instructions.

IMPORTANT: A deposit notification instructs your intent to send funds to your IBSJ account. Notifications DO NOT move any funds. Please arrange with your bank to send funds to your IBSJ account.

 

What methods can I use to fund my IBSJ account with JPY?

Local - Clients sending funds from a local Japanese domestic bank should send funds via domestic fund transfer.

International - Deposits from overseas bank accounts must use the 'International Transfer' method to send JPY to their IBSJ account. Confirm procedures with your sending institution on how to send an international wire using the provided banking instructions.

For both methods, account holders should confirm fees and procedures with their bank before sending funds. IBSJ is not responsible for fees charged by your bank.

 

What information does my bank need to transfer funds?

Local - Local Japanese banks will need the IBSJ bank, bank code/branch code, bank account title & address, and 7-digit destination bank account number/VAN*.

*A VAN (Virtual Account Number) is a bank account number assigned specifically to you for domestic fund transfers.  It should be used exclusively for deposits initiated by yourself and should not be shared with anyone else. A VAN will not be used for international fund transfers

International - International transfers require IBSJ's bank information, SWIFT code, bank account title & address, and 10-digit bank account number. Be sure to include your name and U-account number in the memo/reference field of the transfer details. Failure to include this information may delay the arrival of funds to your account.

Contact Client Services should additional information or assistance be required.

 

What information does IBKR need to transfer funds?

Please create a deposit notification as instructed above.

If funds are sent without a deposit notification, proof of deposit may be requested to credit the funds to your account.

 

How long does it take for my funds to arrive into my IBSJ account?

Local - Your Japanese bank's daily cutoff times may affect the funds' arrival.

Should clients miss the daily deadline set by their bank, the funds should arrive the next business day. Please confirm this information with your Japanese bank.

International - The arrival of funds may take longer when sending JPY from an international bank via International Transfer (up to 3-4 business days in some cases).

Be sure to include your name and U-account number in the memo/reference field of the transfer details. Failure to include this information may delay the arrival of funds to your account.

Confirm that you have entered a matching deposit notification for your transfer. The arrival of funds may be delayed if funds are sent without a matching deposit notification.

Payment Type   Timing   Approximate Cost
Domestic    Same day/following business day   Free to a few hundred Yen
International (SWIFT)   1 to 4 business days   Varies by bank

As costs vary by institution, please consult with the sending institution about the costs incurred to process your payment. IBKR does not charge fees for the deposit of funds.

IBKR credits funds to accounts in real-time upon receipt. Please note that we do not have any control over the speed/processing of your fund transfer. You may consider consulting your bank regarding processing times.

Payments that are subject to review may take longer to credit to the account.

 

Are third-party deposits into my IBSJ account permitted?

Funds must be sent from a bank account held in your name. Funds sent from an account using a different name will be considered third-party and will be rejected.

 

Does IBSJ charge for deposits?

IBSJ does not charge a handling fee for deposits.

Related fees (including, but not limited to: transfer fees, rejection fees, etc.) are to be paid by the account holder. IBSJ is not responsible for fees incurred due to rejected deposits.

 

Can I use a fund transfer service such as Wise or Revolut?

Fund transfer services, including Wise and Revolut, cannot be used for funding your IBSJ account. Please use a bank wire to send funds to an IBSJ account.

How to Deposit SGD to Interactive Brokers

How do I deposit SGD to Interactive Brokers?

IBKR's bank account for SGD is held in Singapore and is eligible to receive SGD transfers via domestic bank transfer (e.g. FAST) or international bank transfer (SWIFT). If your bank account is held with a local Singapore bank they will usually process SGD transfers as a domestic local transfer while clients with bank accounts outside of Singapore will use an international bank transfer (SWIFT).

We will provide you the SGD bank routing information upon completing the deposit notification in Client Portal. IBKR will provide you our bank account title and bank account number which are usually required for domestic SGD transfers from an account held in Singapore. SWIFT code will be provided for international bank transfers from a bank account held outside of Singapore. A SWIFT code is generally not required for domestic SGD transfers.

Please include your brokerage account number in the template you setup with your bank.

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

The timing for SGD deposits varies based on the payment network your bank uses to transfer the funds.

Payment Type

Timing

Approximate Cost*

Local SGD Transfer

1 business day

free of cost 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 SGD.

Note

  1. IBKR credits funds real-time upon receipt under normal circumstances.
  2. 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. Transfers that are subject to additional review may take longer to credit.

 

Request for Payment (RFP)

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. 

 

How to Deposit NOK to Interactive Brokers

What are SWIFT and RTGS transfer methods for NOK?

IBKR is able to receive NOK transferred via international bank wire (SWIFT) or RTGS (Real Time Gross Settlement payments system) to deposit NOK to your account, no matter if your bank is located within or outside of Norway.

Typically your bank may call those transfers just regular wire transfers, electronic bank transfers or bank-to-bank transfers and may not distinct between international bank wire versus RTGS. You may want to consult with your bank for further information

about the transfer system they use to facilitate your payment.

SWIFT payment

The Society for Worldwide Interbank Financial Telecommunication - understandably shortened to 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 NOK from a financial institution outside of Norway, 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.

RTGS payment

RTGS stands for Real Time Gross Settlement and is the fastest way to sent money from one bank account to another within the country. Banks charges fees for this real time settlement, that vary by bank.

RTGS method is mostly used for transaction of high value. Its a system where there is continuous and real-time settlement of fund-transfers. You may not be able to select this transfer method in your online banking screen.

It is rather a system your bank will use in the background to transfer your funds upon your request if the funds are transferred within the country. You  may consult with your bank which payment system they use to transfer funds.

 

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

Payment Type

Timing

Approximate Cost*

RTGS Same day to 1 business days Low cost, vary by bank

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 credit 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 DKK to Interactive Brokers

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

IBKRs bank account for DKK is held with our Danish Bank and is eligible to receive DKK via RTGS (Real Time Gross Settlement) or International Bank Transfer (SWIFT).

IBKR does currently not support domestic transfer methods (local bank to bank transfer).

 

What Information does my bank need to transfer funds?

IBKR will provide you with our IBAN (International Bank Account Number) and the SWIFT code of our bank account upon completing the deposit notification in Client Portal.

If your bank is located in Denmark, they may ask you to provide local bank account details. Please explain that our account is not eligible for local bank to bank transfers and let them advise you on how to transfer funds using our IBAN/SWIFT. IBKR is working to implement local bank transfers, however we cannot provide you a date at this time when it will be available.

If your bank is located outside of Denmark, your bank will typically process payments via international bank wire (SWIFT) or the RTGS payment method. Your online banking will likely show Wire, electronic bank transfer or bank-to-bank transfer as available methods.

Your bank will select the method to transfer your funds on your behalf.

 

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 DKK from a financial institution outside of Denmark, they may require the use of a so called intermediary or correspondent bank to route the payment through before reaching your 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. 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. 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.

RTGS payment

Kronos2 is Denmark National Bank's RTGS (Real-Time-Gross-Settlement) system for payments in Danish Krona and it is primarily used for settlement of large-value, time-critical interbank payments. You may consult with your bank which system they use to facilitate your payment.

You will typically not be given a choice on which method your bank will use to transfer your funds, and it depends as well on the size of payments, the banks involved in the transfer and what service your bank offers.

 

Difference between domestic and international bank transfer

Banks make a domestic wire 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 same to 1 business day vary by bank

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.

Please 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 PLN to Interactive Brokers

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

Depending on which Interactive Brokers entity your brokerage account is held with, you may be directed to deposit PLN into an Interactive Brokers bank account held at a bank in Germany OR Poland.

If you receive our Polish Bank routing information:

Clients that receive the bank routing information for our bank located in Poland can transfer funds easily by using the provided bank details (IBAN and SWIFT), and it will likely be processed as a domestic transfer (local bank to bank transfer).

If you receive our German Bank routing information:

Even though the bank account is located outside of Poland, it is denominated in PLN and can receive PLN transfers without issues via international bank transfer (SWIFT).

Please note:

-If your bank is located in Poland, 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 PLN. If you send EUR to Interactive Brokers' bank account denominated in PLN, 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.

-Your bank may ask you for our bank's Correspondent Bank information in addition to the IBAN and SWIFT of our bank. You only need to provide this information if your bank explicitly asks for them. Do not transfer funds directly to the Correspondent Bank as funds will not be accepted and will be rejected.

 

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 PLN from or to a financial institution outside of Poland, they may require the use of a so called intermediary or correspondent bank to route the payment through before reaching your 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. 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. 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.

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*

Domestic/Local Transfer method

same day up to 1 business day

low or no cost, vary by bank

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 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.

 

 

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