Beginner / I can use check in Etrade. / How about IB?

[jk90029]

Dear-

As a beginner, I found Etrade give free check book for me to ship money,
as shown at https://us.etrade.com/e/t/estation/pricing?id=1203011010

How about in IB? I did not find any check order info.
Really IB does NOT provide checkbook?

Thanks in advance.

-Jay

 

[xandman]

If that is the least of your worries, you will not like IBKR.

The best retail broker around in almost every category but convenience and user friendliness.

The good thing is that they are good for what matters most.

 

[jk90029]

If so, without using free check, how does the IB traders transfer money for monthly expense?

Do they pay as much as $50 for wire-transfer everytime? / Beginner's question.

 

[JamesL]

"Withdrawals

IB allows one free withdrawal request every 30 days. After the first withdrawal (of any kind), IB will charge the fees listed below for any subsequent withdrawal:"

https://www.interactivebrokers.com/en/index.php?f=otherFees&p=withdrawal

 

[1245]

If so, without using free check, how does the IB traders transfer money for monthly expense?

Do they pay as much as $50 for wire-transfer everytime? / Beginner's question.

You can set up free ACH transfers at most US brokers to your bank.

1245

 

[jk90029]

As a beginner, thanks to the both comments.

The above link shows $1 from the second month in using ACH, to transfer to Bank of America where my checkng is.

Of course, I use BAC personal check, to transfer cash from BAC to IBKR.

 

[JamesL]

No, the above link says the second(+) ACH in a month gets a $1 charge. If this is too rich for your blood, then you are best staying with eTrade's free checking.

 

[xandman]

I assume you already investigated the free trading at Merrill Lynch who is owned by BofA. It is a really good deal. I think it also gives you access to Institutional Investor rated analysts' research.

 

[J.P.]

I assume you already investigated the free trading at Merrill Lynch who is owned by BofA. It is a really good deal. I think it also gives you access to Institutional Investor rated analysts' research.

As a result of your post I checked their site. You would think a firm like Merrill Lynch would provide trading access to just about everything, including futures, but apparently not.

 

[xandman]

You get referred to sales departments when you flash the cash. They definitely have it all.

I think Etrade, Schwab and Fidelity are the only ones playing with this universal banking/brokerage concept for the masses. Merrill Lynch is interesting that they could get you first dibs on high profile IPO's because they are a major underwriter/syndicator. And again, let me re-emphasize the research.

The other area is Prime Brokerage. White shoe stuff ( at least for me).