For IB - how long for cashier's check to post to account?

Discussion in 'Retail Brokers' started by DarthSidious, Mar 1, 2006.

  1. I opened another account at IB and mailed a cashier's check to them. Mailman picked it up saturday from my mailbox. I was hoping it would post to the account by now...

    I was lazy and didn't want to make a trip to the post office (to add tracking number etc.) - just stuck a 39c stamp on the envelope and mailed it - getting a little antsy - kinda large cashier's check.

    Any experience how long this might take? The mail should have been delivered to IB on tuesday. I am near Chicago and the mail is going to NJ.

    Thanks!
     
  2. never mail ib money if you are in a hurry. always wire it. they seem to be slow with checks. i have heard of two week turnaround times.
     
  3. Sanjuro

    Sanjuro

    Wire. Wire. Wire.

    Couldn't someone steal that envelope and your check would be lost?
     
  4. ACH transfers are available if you can't make it to the bank. 4-day turnaround on ACH. Wires are same-day, but I believe the Patriot Act doesn't allow for phone-wires.

    They'll probably get the check tomorrow. I've sent IB a personal check and IIRC they notified me of receipt on the 5th day.
     
  5. Well, I guess I would wait till early next week and if IB hasn't received it by then contact the bank and try to void the cashier's check. But I believe if I do that my money would be frozen for a month or so with me having no access to it. :(
     
  6. Htrader

    Htrader Guest

    IB processes wires in 20 minutes. Unbelievable.
     
  7. GTC

    GTC

    If you wire-in money into IB, it may get posted any time from the same day to 4 days. However, you will be able to use that money to trade one day after it gets posted in your IB account according to an IB CSR.
     
  8. yes, yes, guilty as charged :mad:

    I just want to make sure IB receives the damn check. I can wait a few days.. all the good trades aren't running away. :D

    But seriously - I would never mail a check again. :mad:
     
  9. I wired IB some additional funds yesterday about 11AM. The funds were credited to my account about 1 hour later. My bank charged me $15 for the wire. Money well spent. Now you see what $.39 gets you.

    OldTrader
     
  10. alanm

    alanm

    Quote from DarthSidious:
    Any experience how long this might take? The mail should have been delivered to IB on tuesday. I am near Chicago and the mail is going to NJ.


    Is this a trick question, or did you really mail the check to some place in NJ? IB is in CT.

    I wouldn't trust the USPS as far as I could throw them (collectively).
     
    #10     Mar 2, 2006