IB: How long do they hold wires?

Discussion in 'Retail Brokers' started by skyriderfox, Jul 24, 2006.

  1. I sent in a wire on Friday morning, July 21, and it still hasn't updated on the site as received. It still says that they are waiting. What gives?
     
  2. keep in touch with your bank all the time and keep track of your wire 'till it gets there...as soon as thy get it your acct will be funded....ib is at your bank mercy.
     
  3. zdreg

    zdreg

    " I'm looking for a discount trader and I need no handholding"

    famous last wordsfrom skyriderfox



    maybe your financial institution didn't send wire till late afternoon.

    it won't hit the conta party bank till monday.
    it takes a day or two for the bank post to the broker
    it may take a day to get posted to your account.
     
  4. alanm

    alanm

    Assuming your bank sends before whatever IB's incoming cutoff time is (probly at least 17:00 ET), and you've correctly formatted the FFBO field per the wire instructions, you'll usually see it post to your IB account in TWS within an hour or so of it being sent.

    I've routinely had both big and small banks fail to send outbound wires that were submitted before their published cutoff times. It's like the new breed of retail bankers don't understand the urgent nature of wire transfers any more :(