IB cash deposit fees?

[IndyJonerJr]

Hi guys,

was just looking on IB at some misc. section and found something odd wanted to double check, as I was going to transfer more money into IB..

this is what I saw, that cannot be right, that if you deposit money into IB they charge 1% of it??? so for a simple example, you get a big bonus, want to deposit 100K into your account, wiring money from your bank to IB, they would charge you 1k to bring the money in??? that can't be right can it

 

[OptionsOptionsOptions]

• I don't think IB does charge for deposits.
• What does footnote #1 state?

 

[IndyJonerJr]

footnote states I am a retard for not reading it over a couple of times..

they apparently talk about physical cash being handed to them, and they don't accept it, so if they did they would charge a 1% fee for handling.

man I was starting to freak out for a little, hahaha

 

[JackRab]

footnote states I am a retard for not reading it over a couple of times..

I do appreciate a little bit of self-reflection

 

[truetype]

Surprised they take green cash at all. It's a huge AML risk.

 

[ET180]

IB actually pays around 2% on cash balances. The last thing a broker would do is discourage you from giving them more money. Trust me, they will find a use for it.

 

[southall]

Surprised they take green cash at all. It's a huge AML risk.

Probably if an account goes negative and you owe them, i suppose they have to accept legal tender to settle the debt.

 

[systemtrader.org]

It depends on the interest rate of your currency. Currently they will charge you for having more than 100K in EUR.