IB: Does Citibank = CitiGroup

Or are the different entities and have no relation to each other at all.

IB banks with Citibank, and I dont want to place my funds with (Stock symbol = C) Citigroup, so are they the same people or not ???

The IB chat service could not answer a striaght question

ChatSys: This chat is associated with ticket #739704. Please record this number for use in future inquiries. You are currently in room 'Funds and Banking'.
V: Hello, my name is V. How can I help you?
ME: you bank with citibankm is this the same as citigroup ( stock symbol = C) ?
V: What are you trying to do?
ME: Yes or no, are they the same, its a confidence issue
V: Feel free to research them online.
ME: citigroup i mean
V: Your account is held with IB.
ME: You have not answered my question Does IB bank with citigroup ?
V: Take a few moments and read the following:
V: http://individuals.interactivebrokers.com/en/general/about/ibgStrength.php?ib_entity=llc
V: http://individuals.interactivebrokers.com/en/p.php?f=security&ib_entity=llc
V: If you have further questions, you can submit a ticket via the Message Center.
ChatSys: This chat session is being terminated by the CSR

 

Hahahaha what was the point of that?

 

You should know that Citibank is a huge part of Citigroup.

 

Thanks, I just wanted confirmation. I am not a USA person.

What buggers at IB. Hell I am not sending them any monies.

I will keep my account at $50.00.

 

Confidence issue LOL

 

You got your answer in the first link he sent you:

"[IB] limits customer exposure through the following credit policies:

..

Distributing client funds among a variety of banks and counterparties to avoid concentrated exposure to any single counterparty"


You should feel very confident with keeping your funds at IB.

 

good idea you dont want to send them that other 50 you have, spread it around. Have you thought about sending 10 to 5 different brokers?

 

Problem is all these counter parties and banks are all intertwined in there own little house of cards. So there is no such thing as spreading the risk.


John

 

I guarantee you that you were conversing with a bot.

 

Pick up the phone..... call Peterfly and tell him you are going to pull out the $50 if you don't get a straight answer.