Bank account for Interactive Brokers

[atze]

Cool...thanks!

 

[Nyep]

Note that it's easy to pull money from IB, as outlined above, but not so easy to deposit to IB with these EMI accounts. Some of them offer a private IBAN indeed, but when you send money out, it gets sent from a shared account registered to the EMI itself ("the pool"). Your name/account number may be in the reference/comments field of the transfer but often that's not enough for IB (basically depends on the person processing, but most often denied).

TW certainly has this problem. I'm not sure about MT. Leopay doesn't have this problem, AFAIR.

 

[atze]

Okay...good to know. Then I just need to find out which one works in that direction and which one not. Thanks a lot!

 

[7889]

So, you want a bank account outside Ukraine to fund your IB account? How about making a quick trip to Georgia? You don't need to be resident; account opening is very fast; the accounts are multi-currency; not too many questions asked. Georgia is not in SEPA, so you would have to make your transfers by a bank wire (relatively expensive). Anyway, Georgia isn't part of information exchange, see the attached image.

Moldova could be an option too, but I don't have any experience of their banks.

+ 1 for Georgia, and you don't actually have to go there (although it's a beautiful place), can be done remotely via proper attorney.

 

[Flatworld]

So, you want a bank account outside Ukraine to fund your IB account? How about making a quick trip to Georgia? You don't need to be resident; account opening is very fast; the accounts are multi-currency; not too many questions asked. Georgia is not in SEPA, so you would have to make your transfers by a bank wire (relatively expensive). Anyway, Georgia isn't part of information exchange, see the attached image.

Moldova could be an option too, but I don't have any experience of their banks.

great info~thank you...

 

[happyjohn]

+ 1 for Georgia, and you don't actually have to go there (although it's a beautiful place), can be done remotely via proper attorney.

You know an attorney that can do this? what are the costs for the attorney to open the account?

So far I shoot more than 100K euro in 4 months through Transfer Wise no problems at all.

 

[Nyep]

So far I shoot more than 100K euro in 4 months through Transfer Wise

You fund your IB account via TW Borderless? Is it a personal or business account?

 

[happyjohn]

personal account, works fine

 

[Nyep]

personal account, works fine

That's nice, though I don't think it's true for all Borderless currencies. I'm guessing you're funding IB from a Euro account, right?

 

[happyjohn]

Yes it's a EURO account and it's still a live.

 

[Rony]

I use a Transferwise Borderless account with my IB corporate account and it works good. As Nyep says, no costs. IB lets you have a few transfers for free each month.

Does IB accepts TW account statement, when corporate account is set up with them ? Or is it fine just for later withdrawals ?

 

[Suzy Emerald]

I used TW for withdrawals and that workes fine

 

[nikolas07]

Hi. Are there any workarounds to fund Interactive Brokers with EMI in 2020? I tried Transferwise but it hadn't worked. I'm trying to transfer USD from Payoneer to IB.

 

[Flatworld]

Hi. Are there any workarounds to fund Interactive Brokers with EMI in 2020? I tried Transferwise but it hadn't worked. I'm trying to transfer USD from Payoneer to IB.

transferwise not work now?

 

[Whirl]

Hi. Are there any workarounds to fund Interactive Brokers with EMI in 2020? I tried Transferwise but it hadn't worked. I'm trying to transfer USD from Payoneer to IB.

What you mean by did not work? Did they return your wire? Or not allowed to add transferwise account as a deposit account?

 

[daxbr]

There was a discussion earlier on this subject and someone mentioned: Independent Asset Managers - CIM Bank's partners

 

[Rod1]

I use a Transferwise Borderless account with my IB corporate account and it works good. As Nyep says, no costs. IB lets you have a few transfers for free each month.

I thought that the deposits to IB had an instruction "for further credit to [name]" and TW can't process "for further credit to" transactions?

 

[reesek]

That's one reason and also there could be an address mismatch.

Also aml rules are getting stricter. We solved this by using settlement Iban
You need something to use as a centric account to transfer funds between cards/brokers etc