Missing money at IB

def,

I was just told that it was not a withdrawal but an adjustment. They don't know what for. What would IB typically adjust funds for?

thanks
shneed
 
How long was it dormant? Some states require that money in banks, etc., be turned over to them if there has been no contact with the client for X months/years.

IB has a "you are a big boy" philosophy and is not heavily into hand-holding and perhaps there is no legal requirement to let you know. I'm sure you'll get an answer tomorrow - obviously cash leaving your account "mysteriously" will get someone's attention. Keep us posted.

Jack
 
choad,

I don't have any more accounts with IB.


JACKR,

The last time I traded this account was in May 2005. Plus they withdraw $10 per month for data fees. So I don't think it's that dormant.
 
I partially agree. Your activity in the account is contact.

IB's $10 data fee or a bank's inactivity fee or the paying of interest do not count as contact with the customer.

Jack
 
Quote from def:

IB is open now. If you don't want to call overseas, you can contact the help desk via chat. At this hour all treasury functions will not be available but they will be able to detect what happened.

note: I may not have this exactly correct but I think under CT law, dormant account holders must be contacted periodically. If the email and phone numbers on the account are incorrect and the account holder is unable to be contacted, the account could be restricted.
More...

def, check your PM please
 
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