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ACH Initiated at IB and Canadian EFT Transactions
The process of requesting ACH Initiated at IB and Canadian EFT deposit notifications and withdrawals is somewhat different from other transaction methods.
The process for these transactions is described below:
- On the Funding > Fund Transfers page, after you select the transaction type, currency and the transaction method, you enter and save your bank information just as you would for any other funding deposit or withdrawal method. Note that you do not enter an amount.
- Once you submit this request, which authorizes us and your bank to electronically transfer funds between the two accounts, we will issue test transactions in the form of small debit and credit amounts to your bank account. Note that this request does not actually move your funds.
- You must then verify these test transactions. This verification process ensures that the person entering bank information is the legitimate owner of the bank account to be used in the transaction.
- Now that the verification process has been completed, you can submit an ACH Initiated at IB deposit or Canadian EFT deposit notification or withdrawal request on the Fund Transfers page using the bank information that you’ve already saved. This request will include the actual amount and will move your funds.