What is a Request for Payment (RFP)?

Request for Payment (RFP) is a message that you could send via Interactive Brokers (IBKR) and its supporting bank to your bank to trigger a real-time credit transfer directly to your IBKR account. Your bank will prompt you via push notification or e-mail to review and approve the payment request. Upon receiving your approval, your bank will send a real-time credit transfer directly to IBKR's bank and IBKR will credit your account. Real-time payments are done on a new 24x7x365 payments platform managed by The Clearing House and available to all federally insured U.S. depository institutions.

Here's a detailed explanation of how it works and how you can monitor its progress:

1. Request for Payment Process:
   • When you initiate a RFP transfer, it requires authentication through your banking application to be processed.
   • This authentication step is crucial for security purposes and to confirm the transfer.
   • If you don't authenticate the transfer within the given time-frame, it will typically expire after 24 hours.
2. Checking Transfer Status:
   • To monitor the status of your RFP transfer, follow these steps:
     1. Navigate to the Transfer & Pay section in your Interactive Brokers account.
     2. Select the Transaction Status & History tool.
     3. Locate your specific transaction in the list.
3. Understanding Transfer Status:
   • The Transaction Status & History tool will display the current status of your transfer. You may see one of the following statuses:
     • Available: The transfer has been successfully completed.
     • Rejected: The transfer was not successful and has been declined.
     • Pending: The transfer is still in progress and awaiting completion.

Note

• Always ensure you authenticate your transfer promptly to avoid expiration.
• Regularly check the status of your transfers, especially for time-sensitive transactions.
• If you encounter any issues or have questions about a specific transfer, contact your bank to confirm the request is visible and what steps are required to authenticate through their system.

Additional Information

• How do I deposit by RFP?