How long does Interactive Brokers take to initially deposit money?

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nwoptions

Hi all, I want to connect my bank account to IB. I was told that I should expect a small deposit from IB in my bank account within 2 days of applying.

It's been 4 days and I still haven't received any deposit.

Does it typically take longer than 2 days to deposit money to my bank account?

Thanks
 
maxinger said:
strange ...

a small deposit?
Are you also expecting a big deposit coming soon?

4 working days is too long.
something is wrong somewhere.
More...

Thanks for the reply. I'm not expecting a big deposit. IB deposits a small amount (probably $0.01) to confirm that the bank account is real. As soon as they accept it, I can deposit my money at IB.
 
nwoptions said:
Thanks for the reply. I'm not expecting a big deposit. IB deposits a small amount (probably $0.01) to confirm that the bank account is real. As soon as they accept it, I can deposit my money at IB.
More...

ok. Now I understand your initial post.

IB (plus many others) is probably following some strict regulations about money laundering, hacking etc.
 
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The duration might depend on which IB subsidiary you are dealing with, and in which country your bank account is. On top of that I assume that the specified number of days is "business days", so weekends don't count.
 
IB is silly with money transfers. I recently did ACH from my bank into my long standing IBKR account. They put a one week hold before making it available for trading.
 
R1234 said:
IB is silly with money transfers. I recently did ACH from my bank into my long standing IBKR account. They put a one week hold before making it available for trading.
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OTH, I made a 3 deposit notification of incoming funds last month. They credited the funds immediately even before the funds left my bank. It depends upon the amounts, and your account risk.

Those test deposits should be within a business day or two. I would check with them to make sure the information is correctly recorded.
 
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