IB - Acct Transfer

Discussion in 'Interactive Brokers' started by cmk, May 25, 2005.

  1. cmk

    cmk

    No options on equity. I really do not know what this account was for, it's only about $10k and has been sitting collecting dust for some time now over at Harris. Might as well do something with it.

    I have started the ACH process and I hope it does not take another week to get the funds in. The lack of any communication from IB is what bugs me. No one bothered to mention anything about the issue or ask me for more funds. I was expecting a little more out of IB, or anyone for that matter.

    Thanks to all the mature folks here who are willing to help and not feel the urge to jump out of the gate and have to prove to themselves and the world that they are the king of ACTS transfers to satisfy personal ego needs.
     
    #11     May 26, 2005
  2. a5519

    a5519

    Thank you cmk for sharing your experience.
    I had no such problems but it can happen to everyone. I am Reading with interest.

    And don't pay too much attention to the attacks of this one writer that is reporting his "very positive experience". The are enough guys on this forum that have basic responsibility to report positive experience. No need to trade. Income comes from reporting positive experience.

    It's not about bashing IB. In general it's a good broker, if the needs correspond to the service provided. But there are some points that should be improved.

    If there is a problem with account transfer, the customer service must contact immediately th customer and give clear instructions what is wrong and what should be done. It's trivial.
     
    #12     May 26, 2005
  3. GTC

    GTC

    cmk, How many days did it finally lake from the first time you initiated the account transfer and you actually got the account transferred in IB?

    Does anybody have any experience how many days it really takes to transfer an account out of IB?
     
    #13     Dec 11, 2005
  4. vikana

    vikana Moderator

    I have transferred accounts both in and out. Less than a week in both cases. Both were easy and had no problems.
     
    #14     Dec 12, 2005
  5. GTC

    GTC

    Vikana, Thanks for sharing your experience. I had mixed experiences with IB with respect to account transfer-in. The first one went through without any hassle in less than 2 weeks. However, the most recent one took double that time. At first, it went from "acknowledged" to "rejected" in a few days without notifying me via email. It was saying that more paper work was needed. (Note that I did not have any unsettled trades or restricted stocks or lack of cash in the account.) IB chat representative also said that more paper work was needed but couldn't tell me what paper work was needed. Finally, a phone customer representative mentioned that no additional paper work should be needed, and only then the transfer eventually got through.
     
    #15     Dec 12, 2005
  6. One question lingers... why would anyone leave IB for Harris?!
     
    #16     Dec 12, 2005