Interactive Brokers

Funding Reference

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Deposits

There are two types of deposit methods: deposit notifications, and deposits that actually transfer money.

Deposit notifications allow us to efficiently identify your incoming funds for proper credit to your account and to ensure that funds retain their originating currency of denomination.1

  • Explicit instructions on where and how to send the funds will be provided after you complete the deposit notification. The instructions will vary according to your location and type of funds.
  • Checks or wires sent to IB without completed deposit notifications will be held until we can contact you to complete one.
  • A deposit notification does not move your funds. You must contact your bank or broker to complete the transfer.
  • Cancellation of the deposit notification will not stop Interactive Brokers from presenting the check for payment.

To notify us of a deposit of funds, complete a deposit notification on the Fund Transfers page in Account Management or during your initial application process.


Deposits

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Recurring Transactions

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Account Type Specifics

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Wire

Description

Same day electronic movement of funds through the fed wire system. You must contact your bank to initiate a wire and to include your IB account name and number on the wire. Specific wire instructions and addresses will be displayed during the deposit notification process.

Time to Arrive

From immediate to four business days, depending on your bank. Non-U.S. banks are generally at the longer end of the range. Credit to account is immediate upon arrival.

IB applies a one-day holding period to GBP Faster Payments.

Limitations

The Withdrawal Hold Period is three business days (you may withdraw funds after three business days). A wire cannot be internally transferred during the three-day hold period.

ACH Initiated at Your Bank

Description

Electronic notification that we will match to your transfer when it arrives. You must contact your bank to initiate the transfer. Only available for US currency deposits from a US bank.

Time to Arrive

Same as ACH initiated at IB.

Limitations

Only available for US currency deposits from an account held in your name at a US bank that allows ACH deposits. Funds may be withdrawn after the four day credit hold.

US Automated Clearing House (ACH) Transfer Initiated at IB

Description

Multi-day electronic movement of funds through the ACH system. Initiation of an ACH transfer enables you to automatically move funds from a US bank that is a member of the Automated Clearing House (ACH) to IB. IB limits ACH deposits to $100,000 over seven business days. You will be required to enter your bank's ABA number and your bank account number. If you do not know your bank's ABA number, you can enter the bank name and city and search for the correct ABA 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 ACH bank information is the legitimate owner of the ACH bank account.

Time to Arrive

ACH requests received by 14:00 ET will be credited to your account after four business days under normal circumstances.

Limitations

Only available for US currency deposits from an account held in your name at a US bank that allows ACH deposits. Funds may be withdrawn after the four day credit hold.

If funds are withdrawn to a bank other than the originating bank via ACH, a 40-business-day withdrawal hold period will be applied.

Customers who do not have a security device from IB are limited to a single ACH deposit of $20,000 or less.

Additional ACH deposits require a security device which can be obtained through the Secure Login System.

Check 2 (All checks including retirement plan checks)

Description

Paper and mail based deposit of funds. Write your account number on the check. Specific check instructions, including the printing of the deposit form, and addresses will be displayed during the deposit notification process. The IB address for sending your check will be printed on the deposit form. Please take note that Interactive Brokers Canada customers cannot fund their accounts with cheques or bank drafts.

Time to Arrive

Depends on the speed of the mail. Under normal circumstances we deposit funds to your account on the same business day of check arrival. Funds are credited to the account after a seven business day credit hold, with the exception of Bank Checks which are credited immediately.

Limitations

Only Bank, Bill Payment and Personal checks for US Dollars are accepted. Click here for a list of acceptable/unacceptable check types.

Funds can be withdrawn as soon as the funds are credited with the exception of Bank Checks which may be withdrawn three business days after arrival.

Online Bill Payment

Description

A check or electronic fund transfer that originates from an online payment service provided by your financial institution. For US checks, you add Interactive Brokers to your personal payee list and your bank mails a check for you. For electronic fund transfers, you select Interactive Brokers from your bank's list of merchants and your bank sends an electronic payment.

Time to Arrive

Electronic fund transfers are credited to your account immediately. US checks will be credited to your account after seven business days.

Limitations

Electronic fund transfers: you may withdraw your funds after three business days. US checks: you may withdraw your funds after seven business days.

BPAY

Description

BPAY is a bill payment service used in Australia. A BPAY deposit is a fund transfer that originates from the BPAY online payment service provided by your financial institution. After you submit your BPAY deposit request, we provide you with a Biller Code and a Customer Reference Number (CRN), which you must provide to your bank to initiate the actual transfer of funds.

Time to Arrive

From immediate to four business days, depending on your bank. Credit to account is immediate upon arrival.

Limitations

The Withdrawal Hold Period is three business days (you may withdraw funds after three business days). A wire cannot be internally transferred during the three-day hold period.

Canadian Bill Payment

Description

An electronic fund transfer 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. Complete a deposit notification, then submit your bill payment on your bank's online payment service.

Time to Arrive

Bill payments submitted through your online bank payment system before 18:00 EST are generally received by IB within three business days and are immediately credited upon receipt.

Limitations

Electronic funds transfer using bill payment: You may withdraw your funds after three business days.

Canadian bill payment is only offered for clients of IB Canada.

Canadian Electronic Funds Transfer (EFT)

Description

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 $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.

Limitations

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.

Direct Rollover (IRA account only)

Description

You may transfer assets from an existing 401K or other retirement plan into a Direct Rollover Account only. During the transaction process, you will be prompted to complete the information about your existing retirement plan which you must print, sign and send back to IB. IB will sign this form and forward it to your existing retirement plan to initiate the Direct Rollover.

Time to Arrive

Depends on third-party administrator.

Limitations

Only available in the US for IRAs.

Trustee-to-Trustee (IRA account only)

Description

You may transfer assets from an IRA account held with another trustee/custodian to an IB IRA account. The assets are transferred directly trustee/custodian to trustee/custodian, with no distribution of assets to you. During the transaction process, you will be presented with an IRA Transfer In Authorization form, which you must print out, complete and return to IB. You can also download the PDF form here.

Time to Arrive

Depends on third-party administrator.

Limitations

Only available in the US for IRAs.

Recurring Transactions

You can schedule any deposit transaction except Direct Rollovers and Trustee-to-Trustee deposits to recur at monthly, quarterly or yearly intervals. During the deposit notification process, you will be given the opportunity to save your transaction as a recurring transaction. The bank information you enter for the transaction can be used for both recurring and non-recurring transactions. You set up recurring transactions on the Fund Transfers page in Account Management.

Account Type Specifics

Type Description
IRA Accounts Contributions may be made by wire, check, or EFT. Please note that there is a limitation on yearly IRA contributions as described in the Contributions Limits table. Transfers from another IRA plan may be made through ACATS. Use Direct Rollover for transfers from a 401k or retirement plan. In addition you may take possession of your funds from another plan and send a wire, check or EFT to IB, but a tax penalty may apply if the funds do not arrive within 60 days of the payout.

When transferring from another IRA account, you may only deposit the cash or positions into an IB account that has the same IRA type. IB Direct Rollover accounts may receive funds from any type of IRA, 401k or retirement plan accounts. Once funds are transferred from a 401k or retirement plan account to an IB Direct Rollover account, they may not be transferred back to a 401k or retirement plan account. Please consult your tax advisor for guidance on IRA accounts.
Advisor Accounts Advisor clients may complete a deposit notification in Account Management if they have a username and password. If they don't, the advisor can also complete a deposit notification for the client.
Proprietary Trading Group / Separate Trading Limit (STL) All deposits should be made to the master trading account, and then transferred to the sub account(s).
Fully Disclosed Broker Accounts Clients deposit funds directly into their accounts. Brokers may also use Account Management to deposit funds to the master account. Fully Disclosed Brokers can also enter wire and check deposit notifications for their client accounts.
Non-Disclosed Broker Accounts All deposits should be made to the master account, and then transferred to the client accounts.
Omnibus Broker Accounts All deposits should be made to the master account or the proprietary trading account.
  • Credit Period is the number of days before funds are posted to the customer's account and available for trading. Credit is posted after the close-of-business of the relevant day (e.g., 4 business days means credit is posted close-of-business on the 4th day). Please see the knowledgebase article for more details.
  • The Withdrawal Hold Period is the number of days before the customer may withdraw the funds deposited. The Withdrawal Hold Period begins on the Entry Date and ends after the close of business of the relevant day. For example, seven business days means withdrawal can be submitted on the eigth business day).
  • Interest is not paid during the hold period for checks. If this is a concern, we encourage customers to send a wire or ACH where interest is paid from the settlement date of the deposit.
  • Please be aware that it is against Interactive Brokers policy to accept physical currency (cash) deposits. Please make all deposits to your IB account by wire transfer, check, direct bank transfer (ACH), or via one of the other methods described above. IB will charge a special handling fee of 1% of the deposit amount (minimum $50 fee) for any physical currency deposits.
  • US T-Bills may be deposited as collateral, but we require a minimum of $1,000,000 in US T-Bills for a transfer. To initiate a US T-Bill transfer, contact Customer Service.
  • Interactive Brokers does not accept physical stock certificates.
  • Third-Party Deposits - Interactive Brokers strongly discourages and in most cases, rejects third-party deposits, which have historically been viewed by the financial services industry and its regulators as being highly susceptible to acts of fraud and money laundering. For more information, see our Knowledgebase article on the subject.
  • Interest paid to you varies with market conditions. For information regarding the amount of interest currently paid on credit balances see www.interactivebrokers.com/interest.
  • Interactive Brokers is not responsible for any fees charged by your or any other financial institution involved during the process of wiring funds to your IB account. Before wiring funds to your IB account, ask your financial institution if they or their correspondent bank charge for that service.

  1. In the case of wire deposits, please note that routing instructions vary by currency type and the particular instructions which you will need to supply to your bank are made available upon creation of a deposit notification through Account Management. Deposits improperly routed by clients to a bank account not designated to accommodate deposits in the source currency are subject to rejection or automatic conversion into the local currency based on the policies of that bank. As IB is unable to assume the risk of such errors, clients are advised to provide their bank with correct routing instructions for the specific currency through the use of deposit notifications.
  2. In the case of deposits made by check, IB will not accept any checks which require endorsement to IB and will only accept check deposits having IB as the direct payee where the party who writes the check either:
    • Has the same last name as the individual account holder (e.g.; spouse or, child); or
    • In the case of organization/institution accounts, maintains an affiliation with the account (e.g.; officer, trader or owners).

http://www.interactivebrokers.com/en/index.php?f=funding&p=cash