How to withdraw to PayPal?

Discussion in 'Interactive Brokers' started by kakao, Apr 23, 2020.

  1. kakao

    kakao

    Is it possible transfer my money from IB to PayPal?
     
  2. lol no.
     
  3. No. Anti money-laundering regulations prohibit that.
     
  4. FrankInLa

    FrankInLa

    Not to my knowledge. You can only withdraw to have it transferred to a bank. PayPal does not hold a banking license.

     
  5. FrankInLa

    FrankInLa

    This is not the reason. Anti money laundering concerns would only kick in if IB allowed withdrawal to a bank account not in the IB account holders name or to a bank in a jurisdiction that is on the US Black list

     
  6. ph1l

    ph1l

    PayPal lets you fund your account with money from a bank account. So if you can transfer from IB to your bank account and register the bank account with PayPal, you can then use PayPal to take money from your bank account at no cost to you (takes 3-5 business days).
     
  7. get a US-based bank account first...
     
  8. Sig

    Sig

    Or to something that isn't a bank account....like PayPal.
     
  9. FrankInLa

    FrankInLa

    you slept in class. You can't withdraw money from IB to have it sent to a nonbank institution. You can transfer assets other than cash to a different broker though. But certainly not to Paypal. Hence, here the issue on money laundering is a moot point.

     
  10. Sig

    Sig

    Right...and why can't you withdraw to a non-bank institution? Because of AML laws.
     
    #10     Apr 24, 2020