How to withdraw to PayPal?

Incorrect, because IB does not allow it. Company policy. There are numerous other brokers where you can withdraw money and have it transferred to Paypal or credited to a credit card. Has nothing to do with anti money laundering laws. AML stipulate that the person transferring and receiving are identified and the source of funds is a legal one.

Excerpt from Paypal:

Besides the classic credit cards and wire transfer, there are Forex brokers that use PayPal as an option to deposit or withdraw money.
...
  1. eToro. eToro tops the list of best Forex brokers with PayPal. ...
  2. Pepperstone. ...
  3. Plus500. ...
  4. XTB. ...
  5. IC Markets. ...
  6. Oanda. ...
  7. Vantage FX. ...
  8. FxPro.

Sig said:
Right...and why can't you withdraw to a non-bank institution? Because of AML laws.
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FrankInLa said:
Incorrect, because IB does not allow it. Company policy. There are numerous other brokers where you can withdraw money and have it transferred to Paypal or credited to a credit card. Has nothing to do with anti money laundering laws. AML stipulate that the person transferring and receiving are identified and the source of funds is a legal one.

Excerpt from Paypal:

Besides the classic credit cards and wire transfer, there are Forex brokers that use PayPal as an option to deposit or withdraw money.
...
  1. eToro. eToro tops the list of best Forex brokers with PayPal. ...
  2. Pepperstone. ...
  3. Plus500. ...
  4. XTB. ...
  5. IC Markets. ...
  6. Oanda. ...
  7. Vantage FX. ...
  8. FxPro.
More...
Maybe is you posted the name of a U.S. stock or futures broker that allows that we could have an apples to apples comparison?
 
You obfuscate the point. Your AML assertion was simply wrong. That IB does not allow withdrawals other than to a bank is company policy, there is no law that states you can only withdraw funds from a broker to a bank. Stop with your arrogant post MBA posing that you do in every other thread. Not biting. Show me the law or otherwise chat up others who have time for your aristocratic attitudes.

Sig said:
Maybe is you posted the name of a U.S. stock or futures broker that allows that we could have an apples to apples comparison?
More...
 
FrankInLa said:
You obfuscate the point. Your AML assertion was simply wrong. That IB does not allow withdrawals other than to a bank is company policy, there is no law that states you can only withdraw funds from a broker to a bank. Stop with your arrogant post MBA posing that you do in every other thread. Not biting. Show me the law or otherwise chat up others who have time for your aristocratic attitudes.
More...
Listen, you were the one who provided a list of "examples" that were not in the same business or regulatory environment as IB to make a point about the regulatory environment of IB. Pointing that out is the opposite of "obfuscating"!
The anti-money laundering laws in the U.S. put the onus on the broker to know their customer and ensure that money laundering laws aren't broken. As a result, any reputable broker puts pretty stringent rules into place to ensure that the account's they're getting money from and sending money too have gone through the appropriate level of vetting to ensure that the account owner is who they say they are. Most of them deem non-bank entities to not meet that standard. You seem to think there is a single AML law out there that says "Thou shalt follow these exact steps.." which isn't the case. In general, they say "Thou shalt not allow your institution to be used for money laundering or else it's going to be very very painful for you".

As far as the ad hominem attacks, seriously, get a life, you with the 5 or 6 previously banned accounts here on ET.
 
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If you are in the US get the Interactive Brokers mastercard debit card and spend on that. Outside the US transfer to your domestic bank account in any currency supported bY IB as it a multi currency account.
 
You initially stated: "Right...and why can't you withdraw to a non-bank institution? Because of AML laws."

Incorrect. No matter how you twist and turn. I proved you wrong by showing a list of brokers, some of which operate in the US and take US client funds. They allow withdrawals to credit cards or paypal. No law prohibits that and they are regulated in the US. You are wrong, simple as that. Its utterly irrelevant whether such brokers deal in fx only or stocks or futures or all. If brokers were not allowed to do such then such brokers on my list would simply lose their license. They happily operate in the US.

You are one of the most unpleasant characters on this website to converse with, not because you were right (in fact you were not), but because you can't ever be wrong, even when you are.

Sig said:
Listen, you were the one who provided a list of "examples" that were not in the same business or regulatory environment as IB to make a point about the regulatory environment of IB. Pointing that out is the opposite of "obfuscating"!
The anti-money laundering laws in the U.S. put the onus on the broker to know their customer and ensure that money laundering laws aren't broken. As a result, any reputable broker puts pretty stringent rules into place to ensure that the account's they're getting money from and sending money too have gone through the appropriate level of vetting to ensure that the account owner is who they say they are. Most of them deem non-bank entities to not meet that standard. You seem to think there is a single AML law out there that says "Thou shalt follow these exact steps.." which isn't the case. In general, they say "Thou shalt not allow your institution to be used for money laundering or else it's going to be very very painful for you".

As far as the ad hominem attacks, seriously, get a life, you with the 5 or 6 previously banned accounts here on ET.
More...
 
FrankInLa said:
You are one of the most unpleasant characters on this website to converse with, not because you were right (in fact you were not), but because you can't ever be wrong, even when you are.
More...
Again, the guy with a history of half a dozen banned accounts here on IB, most for various anti-semitic, racist, and homophobic attacks, isn't terribly credible when calling others unpleasant.

Feel free to put me on ignore. I know you did that with past incarnations here, right after calling me a snowflake who couldn't handle ideas they disagreed with as I recall. I wish you luck in dealing with whatever is is that leads you to engage in these personal attacks that are objectively unhealthy for at least your nicks here at ET if not your actual self.
 
you keep on changing the topic. You were proven wrong and can't admit it. That is the unpleasant part here. You are just too arrogant an individual to admit it. And yes, on ignore.

Sig said:
Again, the guy with a history of half a dozen banned accounts here on IB, most for various anti-semitic, racist, and homophobic attacks, isn't terribly credible when calling others unpleasant.

Feel free to put me on ignore. I know you did that with past incarnations here, right after calling me a snowflake who couldn't handle ideas they disagreed with as I recall. I wish you luck in dealing with whatever is is that leads you to engage in these personal attacks that are objectively unhealthy for at least your nicks here at ET if not your actual self.
More...
 
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