Canadian Electronic Funds Transfer (EFT)
EFT is available for USD or CAD currency deposits (for IB-CA entity accounts) from a USD or CAD currency account held in your name at a bank located in Canada that allows EFT transactions. IB limits EFT deposits to USD equivalent $100,000 over seven business days.
You will be required to enter your bank's three digit institution number, five-digit bank transit number and your bank account number. You will be required to complete two sets of verification 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 must be typed into your instruction as confirmation. This verification ensures that the person entering EFT bank information is the legitimate owner of the EFT bank account.
Time to Arrive
EFT requests received by 09:30 ET, will be credited to your account after four business days under normal circumstances.
Only available for USD or CAD currency deposits from a USD or CAD currency account held in your name at a bank located in Canada that allows EFT transactions. Funds may be withdrawn after the four day credit hold.
If funds are withdrawn to a bank other than the originating bank/instruction, a 60-business-day withdrawal hold period will be applied.
There is a USD equivalent 20,000 limit on EFT deposits for customers without an IB security device. This limit applies to the first EFT deposit only. No additional EFT deposits will be allowed without a security device.