What are deposits via SafetyPay?
- Interactive Brokers has collaborated with SafetyPay to allow clients to deposit funds in Chilean Peso (CLP) and Colombian Peso (COP) for conversion to USD.
What do I need to know before depositing?
- SafetyPay uses a mid-market rate plus any applicable fees to determine the exchange spread. This spread will be reflected in the local currency amount requested from your bank.
- Deposits will be converted to USD and credited to your brokerage account within 2-3 business days.
- Withdrawals may only be made in currencies supported by Interactive Brokers, which may not include the local currency used for your SafetyPay deposit.
- If your deposit cannot be applied to your account for any reason, the funds will be converted back to your original currency at your expense. If the funds cannot be returned in your local currency, they will be returned in USD.
- Deposit limits vary by bank and currency.
How do I fund my account using SafetyPay?
Step 1: Select Method
- Log into the Client Portal.
- From the Transfer & Pay menu, select Transfer Funds, then Deposit Funds.
- Select Use a new deposit method to view all available options.
- From the dropdown menu, choose the local currency you wish to use for your SafetyPay deposit (CLP or COP).
- Select Deposit via SafetyPay.
Step 2: Provide amount and submit payment in local currency
- Enter the amount you would like to deposit in USD and select Next.
- You will be shown the equivalent amount in your local currency, inclusive of any applicable conversion rates.
- You will be prompted to log in to your bank and confirm the payment.
Step 3: Conversion and processing
- Your transaction history will show your deposit as pending.
- Your payment will be converted to USD by PaySafe and credited to your account within 2-3 business days.