there was a post hat said there is a 30 day hold? on funds transfered by acat to IB. would someone please paste that particular post or confirm the 30 days. thx.
IB take steps very agreesively recent months. I was told fund check was hold 30days in March 2006. But now its telephone answer machine said 10days after received. You can see that IB canada take a lot stress on business competition. But their business practice is uncertain after I continue to talk to its representitive for two months plus.
I never understood the reason for that.. My Ameritrade account..funds are there within a day or two. IB takes almost a week or me. Its one of the few things I really dislike about IB
It's just to reduce fraud. Unfortunately there are those who take advantage of the US banking system to kite or bounce checks. IB's practices in regards to these matters saves the firm money and in the end the clients (lower commissions).