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!
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.
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.
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.
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.
yes, yes, guilty as charged 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. But seriously - I would never mail a check again.
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
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).