Funding Reference

Third-Party Wire Withdrawals

Certain accounts are eligible to request withdrawal of funds to third parties by bank wire. These requests are subject to review and approval at IBKR’s sole discretion. A third-party withdrawal is a two-step process:

1. Enter third-party payee information on the Transfer & Pay > Transfer Funds > Make a Withdrawal page in Client Portal and submit it for approval.
2. Upon approval of the third-party payee information, submit a third-party withdrawal request for payment to the approved third party.

Please note that all requests are subject to review and approval at IBKR’s sole discretion.

Eligibility

The following Interactive Brokers LLC, Interactive Brokers Canada and Interactive Brokers U.K. Limited accounts are eligible to withdraw funds to a third party:

• Individual, Joint and Trust accounts. The primary account holder and any account user with funding access rights in an Individual account, either account holder in a Joint account, and any trustee in a Trust account with funding access rights can enter third- party withdrawal payee information and initiate third-party wire withdrawals.
• Registered Advisor accounts. A Registered Advisor is allowed to enter third-party withdrawal payee information for a client if the client has approved additional authorizations for the advisor. Registered Advisors can use third-party withdrawal information that has been entered by a client to initiate a third-party withdrawal for that client. Clients of Registered Advisors can enter third-party payee information for third-party withdrawals and can initiate third-party withdrawals.
• Proprietary Trading Group STL account master users and Pool accounts. Organization accounts may create payment instructions to third parties. However, because of anti-fraud concerns, we cannot accept payment instructions to send funds to officers, traders, or owners listed for the organization itself.
• Fund Accounts. The Fund Investment Manager and any account user with funding access rights can enter third-party withdrawal payee information and initiate third-party wire withdrawals. The Hedge Fund can request third-party withdrawals to pay for account expenses.
• Fully Disclosed Broker accounts. The individual users with funding access rights can enter third-party withdrawal payee information and initiate third-party wire withdrawal requests.

The following accounts and/or account users are NOT eligible to withdraw funds to a third party:

• Master and client accounts under an unregistered Advisor account (Friends and Family account and Family Office account with an unregistered Advisor);
• IRA accounts;
• In a Proprietary Trading Group account, any user OTHER than the master user and other than users with funding access rights.

Approval Process

Third-party withdrawals are subject to a manual review by our Compliance department. The review period may vary depending on the nature of the withdrawal request, please allow additional time for the processing of such withdrawals. Guidance regarding which types of third-party withdrawals we generally do and do not permit is available here.

If third-party payee information has been approved, a transaction to that payee can be automatically processed without manual review if all of the following conditions are true:

• The total third-party payments to all third party payees from that account (not just the particular third-party payee) in the trailing twelve months totals less than or equal to $75,000 including the current transaction being requested; AND
• The current transaction is less than 70% of total account net liquidating equity; AND
• For the current transaction, the third-party payee is a Joint account holder and the amount of the transaction is $10,000 or less.

Otherwise:

• If third-party payee information for has been approved but the transaction exceeds $75,000, the withdrawal is subject to a manual review.
• If third-party payee information was approved but the transaction exceeds $250,000, the withdrawal will require a manual review and an additional level of approval.

Recurring Transactions

Withdrawals can be scheduled to recur at monthly, quarterly or yearly intervals. When creating a withdrawal request, 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.

In the event the transaction falls on a US non-business day under normal circumstances, Interactive Brokers will process the request on the business day prior to the recurring transaction date. In the event this processing leads to multiple withdrawals during the same month, the account holder will be assessed Interactive Brokers' withdrawal fees.

Account Type Specifics