Interactive Brokers - Deposit Funds

I have opened an acct with IB Where do I get my acct nr? I have cash at TD Ameritrade acct - what is the best way to transfer it to IB?
 
Anyone have any luck making ACH payments to IB using Shyft?

I tried to create the payment on Shyft, but my IB account has a letter in the account number. I can't enter letters as an account number in Shyft and it seems they're not keen on changing that.

Shyft's ACH fixed fee for transfer is very attractive for me. The rates are better than FNB and more convenient to buy $ when the exchange rate is favorable.
 
ejtango said:
I have opened an acct with IB Where do I get my acct nr? I have cash at TD Ameritrade acct - what is the best way to transfer it to IB?
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send them a secure message?
r4nd0m said:
Anyone have any luck making ACH payments to IB using Shyft?

I tried to create the payment on Shyft, but my IB account has a letter in the account number. I can't enter letters as an account number in Shyft and it seems they're not keen on changing that.

Shyft's ACH fixed fee for transfer is very attractive for me. The rates are better than FNB and more convenient to buy $ when the exchange rate is favorable.
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Howsit Random. Yes, I did. If you read the "comments" section at the bottom of the ACH Instructions, you'll see that it says that you just exclude the U from the "account number" (i had the same "trouble" until i read it ;) ). I did a quick test on Thursday evening, money reflected on Friday evening ($14 lesson paid)
 
How do I send a secure message? I just get the robots ???
 
Lukcydog said:
send them a secure message?

Howsit Random. Yes, I did. If you read the "comments" section at the bottom of the ACH Instructions, you'll see that it says that you just exclude the U from the "account number" (i had the same "trouble" until i read it ;) ). I did a quick test on Thursday evening, money reflected on Friday evening ($14 lesson paid)
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Thanks for confirming!

What reference did you use if I may ask?
 
Looking to make my first deposit from Shyft to IB with Euros. I see there is some info in this thread but im still in the process of verifying my account so it's all a bit foreign to me, I've never transferred using ACH or swift before, only card transactions from Shyft. Anything I should know? Is there a fee? Thanks :)
 
SergioDomngos said:
Looking to make my first deposit from Shyft to IB with Euros. I see there is some info in this thread but im still in the process of verifying my account so it's all a bit foreign to me, I've never transferred using ACH or swift before, only card transactions from Shyft. Anything I should know? Is there a fee? Thanks :)
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ACH is a US-only payment network. Not sure if (how?) your euros are going to fly without being converted to USD first.

The fee on Shyft's end is $14 if I remember correctly.

As discussed above, Shyft won't allow you to use your full IB account number as the recipient account number (because it has U in it).

As @Lukcydog mentions though, it is still possible to use Shyft if you put the portion starting with the "U" as your payment reference.
 
r4nd0m said:
ACH is a US-only payment network. Not sure if (how?) your euros are going to fly without being converted to USD first.

The fee on Shyft's end is $14 if I remember correctly.

As discussed above, Shyft won't allow you to use your full IB account number as the recipient account number (because it has U in it).

As @Lukcydog mentions though, it is still possible to use Shyft if you put the portion starting with the "U" as your payment reference.
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Okay I see.

So in the Shyft app I have the option for "International Transfer" (I'm guessing its SWIFT then?)

Is that correct @Lukcydog ? :)

Thanks
 
JayM said:
Does Shyft not support SEPA payments for EUR?
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Honestly, it might. Shyft seems to use the best method based on the payment destination.

@SergioDomngos , you might want to look into what JayM speaks of. You can try to live chat with a Shyft operator via the app.
 
JayM said:
Does Shyft not support SEPA payments for EUR
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I'm not certain, I dont see it as an option anyway.

The only methods from the Euro option are:

- Shyft to Shyft
- International Transfer
- Standard Bank Offshore Accounts (Pay Isle of man or Jersey beneficiary)

It's the same options for the USD option.
 
I just received an email that Shyft is changing to a 1.5% transfer fee from 1 Dec 2021. It will no longer be a flat $14 fee regardless of the amount.
 
Wanjox said:
I just received an email that Shyft is changing to a 1.5% transfer fee from 1 Dec 2021. It will no longer be a flat $14 fee regardless of the amount.
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As I read it, it only applies to virtual or physical credit card payments.

Transfers in the traditional sense, are not changing.
 
Recently finished moving all my positions and free cash from TD Ameritrade, it might get quite complex with the various wire options they have, so if you have any questions feel free to DM me.

Also recommend registering under a referral link as you get IB stock for your cash and stock deposits, surprisingly I received it within days instead of a year as they mention under their t&c's.
 
Zukat said:
Recently finished moving all my positions and free cash from TD Ameritrade, it might get quite complex with the various wire options they have, so if you have any questions feel free to DM me.

Also recommend registering under a referral link as you get IB stock for your cash and stock deposits, surprisingly I received it within days instead of a year as they mention under their t&c's.
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Did you manage to get access to your last statement? Once they transfer they lock you out.

Tried emailing them, but apparently I have to phone. :\
 
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