The enhancements and modifications below are available as of May 25, 2009.

The Funds Management screens used to check the status of deposits, transfers and withdrawals; set up fund transfers; and create bank and settlement instructions for cash and position transactions in Account Management have been changed for individual accounts.

The Funds Status; Deposits and Inbound Transfers; Withdrawals and Outbound Transfers; Internal Transfers; and Pending Requests pages have been removed from Funds Management in Account Management. Their functions can now be found on these new pages in Funds Management:

• Cash Transfers - View the funds status of your account, including cash balance and cash available for withdrawal; initiate deposit notifications and withdrawals; and create, edit and delete bank instructions for ACH deposits and withdrawals initiated by IB, Canadian EFT deposits initiated by IB, and bank or broker wire cash withdrawals.
• Position Transfers – Transfer positions to and from your IB account, including position transfers between master and sub accounts.
• View Transaction History – View cash transactions, position transfers and bank instructions from the past 45 days for your account or for a client or sub account that you manage.

For more information, see the Funds and Banking page.

Note that institutional accounts will continue to use the existing Funds Management screens, NOT the new screens listed above.

There is a $20,000 limit on US Automated Clearing House (ACH) deposits initated at IB and Canadian Electronic Funds Transfer (EFT) deposits for customers without an IB security device. This limit applies to the first ACH or Canadian EFT deposit only. No additional ACH or Canadian EFT deposits will be allowed without a security device. For details about IB security devices, see the Secure Transaction Program page.

You can now register one or more primary and secondary beneficiaries (called “TOD Beneficiaries”) to whom you want to directly pass your IB account assets upon your death without having to go through probate. When you register a Transfer on Death beneficiary, the executor or administrator of your estate will only have to submit a Transfer on Death Beneficiary Distribution Form with a certified copy of the death certificate to ensure that your assets transfer to the beneficiary or beneficiaries that you have designated.

To register a TOD beneficiary, click Transfer on Death in the Account Administration menu in Account Management.

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