Funds availability for deposited checks. Is anyone worse than IB?

Discussion in 'Interactive Brokers' started by ymalmsteen, Sep 12, 2017.

  1. newwurldmn

    newwurldmn

    And in stores they require you to put your drivers license number on the front.
     
    #21     Sep 13, 2017
  2. Less fraud equal lower fees. Works for me. But your 44 comment was not my experience so I looked it up.
    it is 4 days if sending back to the same back in which you sent funds. I just pulled this from the IB website
    "Only available for US currency deposits from an account held in your name at a US bank that allows ACH deposits. Funds may be withdrawn after the four day credit hold.

    If funds are withdrawn to a bank other than the originating bank via ACH, a 44-business-day withdrawal hold period will be applied."
     
    #22     Sep 13, 2017
  3. Sig

    Sig

    That's a welcome change, maybe they listened to my rants after all! It could also be that they just don't follow their own published guidance (https://www.reddit.com/r/investing/comments/4rvc8g/interactive_brokers_40_days_hold_on_ach_funds/), wouldn't be the first time they abdicate all responsibility to "the algorithm" that seems to control everything at IB.
     
    #23     Sep 13, 2017
  4. speedo

    speedo

    10 days of commission revenue can far outweigh interest on float.
     
    #24     Sep 13, 2017