Automated Clearing House (ACH) deposits/withdrawals may be made to your IBKR account from and to your bank. The method referred to as ‘ACH Initiated by Us’ 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. You will be asked to verify your bank in one of two ways:
Once established, this transfer method can be used for future deposit and withdrawal requests.
Initiating an ACH Transfer:
Traditional
Instant
Instant Account Verification (IAV) allows IBKR Clients the opportunity to have bank and account information verified instantly during the account set-up process. IAV is now presented to clients as an option in addition to the traditional process of verifying bank and account information which sends small dollar value transactions back and forth over the course of a few days.
Click Continue when complete. (OR, click Cancel Request if you do not wish to proceed)
9. What appears next will be based on your Security Device:
If using Security Code Card:
a) The Card Values field will appear.
b) Follow the onscreen instructions and use your card to obtain values.
c) Enter values into Card Values.
If using either the Digital Security Card or IB Key App:
a) The Challenge Code and Passcode fields will appear.
b) Enter the Challenge Code into the Digital Security Card and press OK, OR on your smartphone, launch the IB Key App, enter the Challenge Code, and click Generate.
c) Enter the Response String returned into the Passcode field.
10. Click Continue.
Success! You may use this transfer method for future deposit and Withdrawal transfers.
Be Careful…
For steps 4 and 6 above, the following points are important to keep in mind:
Step 4- When logging into your online banking site, be sure the username and password is entered properly. For example, case sensitivity, middle initials, etc. may be a part of your username and password. An error message will appear if there is an issue.
Step 6- For security reasons, the name of the bank Account Holder must match the name on the IBKR account. If the names do not match, the following message will appear.
Note that IBKR does not charge any fee for ACH deposits and accounts are afforded one free withdrawal request per month. Also note that ACH deposits are subject to a 4 business day credit hold after arrival prior to being credited to your account. In addition, if funds are withdrawn to a bank other than the originating bank, a 44-business-day withdrawal hold period will be applied.