Internet Banking Payments to IB


Good news for all fellow IB users,

You can now send funds via internet banking, IB guys told me yesterday. No more going to the bank and paying for the privilege of a CHAPS wire. Most UK Banks probaly use BACS for internet banking which can be a day slower, however it's free and should mean less problems with reference information being incorrect.

Instructions aren't on the site yet but they sent then to me. see below:

Please ensure that your IB account number i.e. the U number is quoted in the reference tab for the payment. Without this we will not be able to credit the money.

Bank & Address:
Citibank, N.A. (London Branch)
Citibank House
336 Strand
London WC2R 1HB
United Kingdom

Bank Code:
Sort Code: 185008

Bank Account Name:
Interactive Brokers LLC (For further credit to IB customer's account number / customer's user name)

Interactive Brokers Bank account number at Citibank:

Hope this helps everyone out there!

I have an account with Cahoot (internet bank), i used them to transfer money via the internet/chaps with no problems at all, at a cost of £25.
I've transferred cash from Cahoot and Abbey to IB for over a year now using BACS, no charges, no bother. The instructions about only using CHAPS don't seem to be accurate.
Just an observation, but on this thread and others, there appears to be quite alot of transferring money to IB. Some people multiple transfers from different banks and others maybe just the one, some having to pay a transfer fee and others get it for free, however, with all this in mind, does anyone actually transfer money from IB ?
When I closed my account with them.... was almost as much palava closing it and getting my money back, as opening the account.
True, but once it's all set up it only takes 2 working days (In general) to appear in your account. Have had more probs with people over here.
With reference to my last post, maybe I was a little vague. What I was referring to was a fair amount of monies transferred into IB, some folks multiple deposits, but we never hear of folks taking monies out. Now there can only be a few reasons for this, they are either building up capital to trade more lots and therefore living off other income, discretely taking winning out and have no reason or desire to discus the matter, or folks are feeding these trading accounts only to be slowly but surely drained due to their losses, hoping one day to becomes successful, but as I said, this is purely an observation. If anyone cares to suggest otherwise, be my guest.
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