Open topic with navigation
You are here: iOS > Using IB Key with the Debit Card
Using IB Key With Your Debit Mastercard
If you have an Interactive Brokers Debit Mastercard® you use IB Key on your iOS device to pre-authorize purchases over $1,000. Pre-authorization helps us prevent fraudulent use of your card by allowing you to inform us several minutes before making a purchase of $1,000 or more with your Debit Mastercard. Pre-authorization is easy and takes only a few seconds on IB Key. This process is faster and more convenient than contacting your bank on the phone in the event a purchase is declined.
Note: IB Key version 2.0.272 or higher is required for pre-authorization.
To pre-authorize Debit Mastercard purchases
- On your mobile phone, open IB Key.
- Tap the menu icon in the right upper corner of the screen to display the menu.
- Tap Pre-Authorization.
- Tap in the Enter Amount space and then enter the amount of the intended purchase in whole USD.
- Tap Authorize. The phone will ask you to confirm your identity by putting your fingerprint on the TouchID button at the bottom of the iPhone. Once your fingerprint is confirmed, you will see the following screen as the app is sending information to IBKR servers:
- If your pre-authorization is successful, you will receive a message on your phone and you will be advised how much time you have to complete your purchase. Once you see this screen, you will have 15 minutes to complete the transaction with the merchant.
If the pre-authorization was declined, this usually means that you have insufficient funds or account equity to make your purchase.
- If you do not pre-authorize the charge, we may decline it for security reasons. In this case, IB Key will display the exact amount of the purchase and merchant where you attempted the charge. If the attempt is genuine, simply tap Authorize in IB Key and ask the merchant to put the charge through again.
Note: If you are able to use your phone or merchant's phone, call 866-532-4654 (the number on the back of your card). They will assist you in pre-authorizing your purchase