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Funding Reference

Withdrawals

Withdrawing Funds

We offer several flexible and convenient methods for withdrawing funds from your account. To review method details, log in to Client Portal.

About Withdrawals

Withdrawals are requested via the Transfer & Pay > Transfer Funds > Make a Withdrawal menu in Client Portal. We allow for one free withdrawal request per month. Any additional withdrawals in a given month are subject to fees, as detailed on our website. Please note your daily and weekly withdrawals may be subject to a restriction based upon the security device associated with your account, as detailed on our website.

Withdrawal requests are processed only if the client has sufficient available funds and equity in excess of the initial margin requirement. Available funds is defined as the lower of trade or settlement date funds. If a withdrawal request is rejected, it may be re-enter once there are sufficient available funds and equity in excess of the initial margin requirement.

In accordance with anti-money laundering ("AML") regulations, all withdrawals will be sent in the name of the account holder. In addition, as part of our AML program, we no longer allow clients to make certain types of cross-border withdrawals and other high-risk patterns of cashiering. Visit our Knowledge Base for more information on funds transfer restrictions.






Wire

Under normal business circumstances, wire withdrawal requests approved prior to cut-off times are processed on the same day. Certain withdrawal requests are subject to additional compliance verification procedures, which may include a telephone call to you before approving the request.

Wire transfers are processed for same-day credit or next-day credit, depending upon the IBKR entity associated with your account. Please note that it may take longer for your bank to credit the funds to your account because your bank has its own review process for incoming wires.

Cut-off Times by Currency
Region Currency Local Time Cut-off
Americas CAD 13:00
Americas MXN 11:50
Americas USD 16:00 (ET)
Asia/Pacific AUD 14:30
Asia/Pacific CNH 16:00
Asia/Pacific HKD 15:00
Asia/Pacific JPY 10:30
Asia/Pacific INR TBD
Asia/Pacific NZD 15:00
Asia/Pacific SGD 16:00
Europe/Middle East/Africa CHF 12:00
Europe/Middle East/Africa CZK 9:30
Europe/Middle East/Africa DKK 15:00
Europe/Middle East/Africa 12:00
Europe/Middle East/Africa EUR 13:00
Europe/Middle East/Africa GBP 14:00
Europe/Middle East/Africa HUF 15:00
Europe/Middle East/Africa ILS 12:00
Europe/Middle East/Africa 12:00
Europe/Middle East/Africa ZAR 9:00 (GMT/BST)
Europe/Middle East/Africa NOK 14:30
Europe/Middle East/Africa PLN 10:00
Europe/Middle East/Africa RUB 9:00
Europe/Middle East/Africa SEK 14:30
Europe/Middle East/Africa TRY 15:30




US Automated Clearing House (ACH) Transfer Initiated at IBKR

ACH withdrawals are only available for US dollar currency withdrawals to an account held in your name at a US bank that accepts ACH fund transfers. Requests approved by 16:00 ET will be sent by 18:00 ET, under normal business circumstances, for next day credit.

It may take longer for your bank to credit the funds to your account.




Direct Debit / Electronic Money Transfers

Withdrawals are limited to the available cash balance in your brokerage account. If your brokerage account is a margin account and your available cash balance is insufficient for the withdrawal, your brokerage account will automatically make available funds by incurring a new margin debt limit in your brokerage account up to your cash withdrawal limit.

We will notify you via SMS message anytime we receive a direct debit request for your brokerage account. We reserve the right to require your explicit authorization via the IBKR Mobile application for any withdrawal.



Check

Only available for US currency withdrawals by clients with a US mailing address. Check requests approved by 09:30 ET are mailed sometime during the next business day. Arrival is dependent on the mail and credit of funds is dependent on your bank.




Canadian Electronic Funds Transfer (EFT)

Clients of Interactive Brokers Canada can use EFT to make US or Canadian dollar withdrawals to a bank in Canada that allows EFT transactions. Cash is automatically transferred. EFT requests approved by 09:30 ET are debited to your account the next business day, under normal circumstances.




Single Euro Payment Area (SEPA)

IBKR clients (excluding Separate Trading Limit (STL) sub-accounts) with accounts at European banks can use SEPA for Euro currency withdrawals. Requests approved by 12:00 CET are usually sent on the same business day, under normal circumstances.

More information about SEPA withdrawals is available on the European Payments Council web site.




BACS/GIRO/ACH

We offer lower cost withdrawal methods that take longer to settle. Withdrawal requests made before the cut-off time settle within the settlement date window under normal conditions. Requests made after the cut-off are processed the following day.

Limitations

Each method is only available for withdrawals to the local currency (i.e., BACS is strictly for withdrawing GBP to GBP accounts in the UK).

Low Value Disbursements
Currency Method Local Routing Code Local Cutoff Time Settlement Date Transfer Limit
GBP BACS nnnnnn - 6 digit sort code 15:00 T+2 USD 5,000,000 equivalent
HKD GIRO/ACH nnn-mmm - 3 digit bank code + 3 digit branch code 15:30 T+1 USD 5,000,000 equivalent
CNH GIRO/ACH nnn-mmm - 3 digit bank code + 3 digit branch code 15:30 T+1 USD 5,000,000 equivalent
NZD ACH nn-mmmm - 2 digit bank code + 4 digit branch code 18:00 T USD 5,000,000 equivalent
SGD GIRO/ACH nnnn-mmm - 4 digit bank code + 3 digit branch code 15:30 T+2 USD 5,000,000 equivalent



Third-Party Wire Withdrawals


Certain accounts are eligible to request withdrawal of funds to third parties by bank wire. These requests are subject to review and approval at IBKR’s sole discretion. A third-party withdrawal is a two-step process:

  1. Enter third-party payee information on the Transfer & Pay > Transfer Funds > Make a Withdrawal page in Client Portal and submit it for approval.
  2. Upon approval of the third-party payee information, submit a third-party withdrawal request for payment to the approved third party.

Please note that all requests are subject to review and approval at IBKR’s sole discretion.

Eligibility

The following Interactive Brokers LLC, Interactive Brokers Canada and Interactive Brokers U.K. Limited accounts are eligible to withdraw funds to a third party:

  • Individual, Joint and Trust accounts. The primary account holder and any account user with funding access rights in an Individual account, either account holder in a Joint account, and any trustee in a Trust account with funding access rights can enter third- party withdrawal payee information and initiate third-party wire withdrawals.
  • Registered Advisor accounts. A Registered Advisor is allowed to enter third-party withdrawal payee information for a client if the client has approved additional authorizations for the advisor. Registered Advisors can use third-party withdrawal information that has been entered by a client to initiate a third-party withdrawal for that client. Clients of Registered Advisors can enter third-party payee information for third-party withdrawals and can initiate third-party withdrawals.
  • Proprietary Trading Group STL account master users and Pool accounts. Organization accounts may create payment instructions to third parties. However, because of anti-fraud concerns, we cannot accept payment instructions to send funds to officers, traders, or owners listed for the organization itself.
  • Fund Accounts. The Fund Investment Manager and any account user with funding access rights can enter third-party withdrawal payee information and initiate third-party wire withdrawals. The Hedge Fund can request third-party withdrawals to pay for account expenses.
  • Fully Disclosed Broker accounts. The individual users with funding access rights can enter third-party withdrawal payee information and initiate third-party wire withdrawal requests.

The following accounts and/or account users are NOT eligible to withdraw funds to a third party:

  • Master and client accounts under an unregistered Advisor account (Friends and Family account and Family Office account with an unregistered Advisor);
  • IRA accounts;
  • In a Proprietary Trading Group account, any user OTHER than the master user and other than users with funding access rights.
Approval Process

Third-party withdrawals are subject to a manual review by our Compliance department. The review period may vary depending on the nature of the withdrawal request, please allow additional time for the processing of such withdrawals. Guidance regarding which types of third-party withdrawals we generally do and do not permit is available here.

If third-party payee information has been approved, a transaction to that payee can be automatically processed without manual review if all of the following conditions are true:

  • The total third-party payments to all third party payees from that account (not just the particular third-party payee) in the trailing twelve months totals less than or equal to $75,000 including the current transaction being requested; AND
  • The current transaction is less than 70% of total account net liquidating equity; AND
  • For the current transaction, the third-party payee is a Joint account holder and the amount of the transaction is $10,000 or less.

Otherwise:

  • If third-party payee information for has been approved but the transaction exceeds $75,000, the withdrawal is subject to a manual review.
  • If third-party payee information was approved but the transaction exceeds $250,000, the withdrawal will require a manual review and an additional level of approval.


Recurring Transactions

Withdrawals can be scheduled to recur at monthly, quarterly or yearly intervals. When creating a withdrawal request, you will be given the opportunity to save your transaction as a recurring transaction. The bank information you enter for the transaction can be used for both recurring and non-recurring transactions.

In the event the transaction falls on a US non-business day under normal circumstances, Interactive Brokers will process the request on the business day prior to the recurring transaction date. In the event this processing leads to multiple withdrawals during the same month, the account holder will be assessed Interactive Brokers' withdrawal fees.



Account Type Specifics

Type Description
IRA Accounts

Clients may request Normal, Early, Early with Exception, Disability, Death, and Excess Contribution Distributions. Please choose the correct distribution type from the Withdrawal Instructions in Client Portal. You will also need to specify tax withholding instructions. Clients wishing to manually rollover their funds to another IRA account should indicate Normal or Early Distribution, depending on your age.

You will have 60 days from the payment of funds to roll them over to a third party IRA account in order to maintain IRA tax status.

Withdrawals are permitted only in USD.

For manual IRA Rollover or Trustee-to-Trustee Transfers to another IRA account, you must mail paper forms to the address below.
Interactive Brokers LLC
Attn: Retirement Accounts, Transfers
209 South LaSalle Street, 10th Floor
Chicago, IL 60604

Advisor Accounts

Advisors can only create banking instructions for their master account. Advisor clients must create banking instructions for their own account.

Once an advisor client has saved the bank information, both the advisor and client may request withdrawals. Checks will only be made payable to the client, and electronic transfers will be made only to an account in the client's name.

Client initiated withdrawal requests require Advisor consent. However, if the amount is < 80% of the withdrawable amount and submitted prior to 5:00 p.m. ET, the request will be auto-consented at the end of the current day and the withdrawal will be processed the following business day.

Requests submitted after the 5:00 p.m. ET cutoff will auto-approve at the end of the next day and process the day after approval. Requests representing 80% or more of available funds will auto-consented to after 3 calendar days.

Multiple Hedge Fund Accounts

Investment Managers with multiple funds can only submit withdrawal requests for their master account. Withdrawal requests for the fund accounts must be created by the funds themselves.

Once a fund account has saved the bank information, both the fund and the Investment Manager may request withdrawals. Withdrawal requests initiated by fund accounts must be reviewed and approved by the Fund Investment Manager.

Proprietary Trading Group / Separate Trading Limit (STL)

All withdrawals should be made from the master trading account. Separate Trading Limit (STL) sub accounts cannot withdraw funds using SEPA transactions.

Fully Disclosed Broker Accounts

Clients withdraw funds directly from their accounts. Brokers can withdraw funds from their master account or from the Proprietary Account for Broker-Dealers.



Disclosures
  • In order to further protect our customers we have modified our security policies which may result in a delay of withdrawals for up to 72 hours for those customers making changes to their banking instructions or email address. Customers may contact customer service via phone to expedite this process if needed.
  • As IBKR is not a member of the European Union banking system, your bank, if located within a Eurozone member country, may charge you a fee upon the receipt of funds wired from your IBKR account. Please note that IBKR has no control over these fees and they are separate from any fee assessed by IBKR when multiple withdrawals are made from your account within any given month. As practices vary by bank, and IBKR has no information as to individual bank practices, we strongly suggest that you contact your bank to familiarize yourself with their policies for charging fees when receiving funds from institutions located outside the Eurozone.
  • For an example of the currency margin calculation for withdrawals, please refer to the following IBKR Knowledge Base article:
    http://ibkb.interactivebrokers.com/node/971
  • IBKR withdrawal fees do not cover third-party fees. The account holder will be solely responsible for any fees assessed by a beneficiary or correspondent bank. In addition, processing fees charged by your bank or correspondent bank, which are not included in IBKR withdrawal fees, may be deducted from wire proceeds.
  • Due to exchange control rules put into place for South African residents by the South African Reserve Bank (SARB), IBKR is allowed to receive deposits in South African Rands (ZAR) from non-resident accounts and disburse ZAR to non-resident accounts. However, IBKR is not allowed to receive deposits from resident accounts or disburse ZAR to resident accounts. For more information about these rules, see the following IBKR Knowledge Base article:
    http://ibkb.interactivebrokers.com/node/2888.