Terrible (ex) customer service at IB.

[ETJ]

Retention Period: Six years (the first two years in an easily accessible place); Source: SEA Rule 17a-4(a).

chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.finra.org/sites/default...Requirements-Checklist-for-Broker-Dealers.pdf

 

[M.W.]

Pretty positive that IB accepts wire transfer even for this sort of transaction. And yes, I fully agree, cheques are almost only still used in the US and Canada, totally antiquated. But it is what it is. Some societies want to learn from others and improve, others possess too much pride and over time fall behind, not even noticing and realizing that they are not the top dog anymore.

I recommend you chat with IB again and explain cheques don't work in your country and that you want to wire the fee.

Good for you, but that's off-topic, though. I had mine in an old email account which is no longer active.

As for keeping credentials from closed accounts, my belief was that a closed account was actually closed.



Who said anything about credit cards or even crypto?

I wire money efficiently in and out (often arrives within the same business day) from my US broker by wire through my local bank.

I still find it hard to believe that people use physical checks these days.

 

[ETJ]

You might want to confirm that you are paying for the statements and not just the search.

 

[Chuck Krug]

Call one of the European offices. They have offices in Zug, Dublin, London and Luxembourg. I've had dealings with the Swiss back-office and they are competent.

 

[def]

No excuse for the second response and not carefully reading your reply even though you are a closed, non-performing account that has been out of action for over ten years. Your statements certainly would not be available on our servers and would require retrieval via our archives (assuming they are retained past 7 years). Depending on the market, a wire xfer might be acceptable but sometimes a check is the most time/cost effective way to take a credit for a closed account.

If you wish, send me a PM with your previous ticket number and I'll ask someone with more experience to re-address. Alternatively, you'll have to write another ticket or contact our service desk.

 

[Laissez Faire]

No excuse for the second response and not carefully reading your reply even though you are a closed, non-performing account that has been out of action for over ten years. Your statements certainly would not be available on our servers and would require retrieval via our archives (assuming they are retained past 7 years). Depending on the market, a wire xfer might be acceptable but sometimes a check is the most time/cost effective way to take a credit for a closed account.

If you wish, send me a PM with your previous ticket number and I'll ask someone with more experience to re-address. Alternatively, you'll have to write another ticket or contact our service desk.

Thank you for your response.

I'd rather not have any of your employees get reprimanded because of my dissatisfaction, so I think I'll keep that ticket number for myself for now.

It seems like I need to make a call to your offices anyway in order to retrieve my old account credentials, so hopefully I will be able to resolve it then. If you have someone specific I would be better of contacting directly instead of the standard number listed on your web page feel free to send it to me on PM.

I have not yet been given a quote for how much it would cost to retrieve it, but generally, I thought it was unexpected to have to pay for an electronic document I imagined was easily retrieved. Surely just as quickly as replying to multiple web tickets. But I may be in the wrong on that one.

Thanks.

 

[rb7]

Not sure why you would need a 10-year old statement, but I guess you have a good reason for it.

I don't think this type of request could be easily responded. Usually, brokers (and all other type of companies) don't keep old documents at hand. They put them on tapes and send them to an external archive service company. It's not that easy to retrieve them.

I wish you best of luck!

 

[Laissez Faire]

Not sure why you would need a 10-year old statement, but I guess you have a good reason for it.

I don't think this type of request could be easily responded. Usually, brokers (and all other type of companies) don't keep old documents at hand. They put them on tapes and send them to an external archive service company. It's not that easy to retrieve them.

I wish you best of luck!

Thanks. I wouldn't say I really need it, but I closed down the account for a net loss as I was starting a degree that year. It wasn't a substantial loss, but could be enough that I could write it off my taxes if the Norwegian authorities grant it.

I'll post an update on how it goes.

 

[M.W.]

From a US centric perspective perhaps. But cheques are just not used in many other countries anymore. And I highly doubt IB accepts personal cheques. Banks in many jurisdictions simply don't issue bank drafts or official cheques anymore, especially not in foreign currency.

No excuse for the second response and not carefully reading your reply even though you are a closed, non-performing account that has been out of action for over ten years. Your statements certainly would not be available on our servers and would require retrieval via our archives (assuming they are retained past 7 years). Depending on the market, a wire xfer might be acceptable but sometimes a check is the most time/cost effective way to take a credit for a closed account.

If you wish, send me a PM with your previous ticket number and I'll ask someone with more experience to re-address. Alternatively, you'll have to write another ticket or contact our service desk.

 

[TheDawn]

Thanks. I wouldn't say I really need it, but I closed down the account for a net loss as I was starting a degree that year. It wasn't a substantial loss, but could be enough that I could write it off my taxes if the Norwegian authorities grant it.

I'll post an update on how it goes.

IB charges EUR 20.00/first statement, EUR 5.00/each additional statement when the statement is archived since you are located in Norway and Norway is an EU country. https://www.interactivebrokers.com/en/pricing/other-fees.php You have to scroll all the way to the bottom to see this.