I hope so. But I beg to differ, I have made deposits to my IB account a few times from bank accounts other than my own. I have always messaged them before the deposit hits to let them know where it is coming from. That's not the problem here, the problem is the anal prats won't deposit it because it was missing my acount number as the reference despite all the other deposit details being correct.
Just because you were able to doesn't mean it meets IB's policy. They could have erred when you did this successfully. I invite you to call IB compliance and confirm this. It's stated somewhere in the documentation. To answer your question, it was little effort to have my bank correct the situation. And, yes, I urge you to make sure your IB account name matches EXACTLY, to the letter, the account name on your bank account. If not, life may or may not be so easy in future transfers.
We have deposited funds into IB accounts other than the original bank account. It is possible per IB's Funds and Banking department.
as long as the funds come from the name on the account it is acceptable. it doe not have to come from some "original" account.
My dad sent in an IRA deposit for my mother that got put into my advisor account. I tried to put it into mom's account and couldn't do it. I was told the only solution was for ME to withdraw the funds to MY address and have mom&dad send a new deposit. I wonder how the IRS is going to view that?
Money in and out of IB for many years, never a problem. I must be missing some horrible thing that happened. Now I'm really worried.
I agree with your post. This should be no big deal to remedy. However, my understanding is that the name on an incoming wire has to match the name on the account. I wouldn't even dream of doing what the OP attempted to do. How difficult would it have been to deposit it in his own account, and then wire it from there? OldTrader
Unrelated to IB, but other brokers also state names must match... my experience suggests it's really SS# (for US-held accounts) that must match. I regularly move money between joint title brokerage(s) accounts and bank account(s) titled jointly AND/OR individually. In all accounts the same SS# is the primary. My experience applies to FCMs Penson, Rand, PFG, and RJO. Osorico
STFU smart ass. Many banks around the world are totally incompetent when sending wires... It's all still 80s technology. And IB doesn't care... Their business model is to offload service and risk on to the Customer.