Nightmare on withdrawing your fund from IB ...continue

Discussion in 'Retail Brokers' started by TedZhang8, Mar 7, 2006.

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  1. ======= Attention =======

    For whatever reason, the thread "Nightmare on withdrawing your fund from IB" I created two days ago was mysteriously deleted. That took away the only channel I could get some response from IB regarding my situation.

    (If you haven’t read the deleted thread, my situation is that:
    I tried to close my over a half million dollar account at IB at the beginning of this year. For whatever reason, the funds were returned back very slowly for the past two month and so. As of today there are $75k still not returned. I have emailed and called IB many times. Most of the times, I got stonewalled. Out of frustration, I posted a thread “Nightmare on withdrawing your fund from IB” two days ago. I just found out that thread was deleted without explanation.)

    If you are not from IB, you question to me is very unlikely to be answered since I am a very busy trader.

    If you are an IB employee, any of your assistance to speed up the return of the remaining fund would be appreciated.

    To def (Interactive Brokers)

    I sent IB another email on Tue 3/7/2006 3:51 AM est. after I have sent many emails to IB before. I haven’t got any feedback from IB regarding the status of the remaining fund. It would be appreciated if you can contact them one more time and let me know the situation. Everyday delay will cause extra damage to me.
  2. Can I suggest two things Ted?

    1) If you want to get value from this thread that you refrain from calling any participants bitches. That simply inflames things and you get an IB slanging/defending thread like the last one - and like the poster above seems to be restarting.

    2) Given the reported difficulty in wiring funds from IB's bank to your bank why not do what I did with a broker once - just get IB to draw a cheque and send it to you? Then you can bank it as you wish.

    So, lets not get into yet another shxt fight, and, just get a cheque :)

    Good luck.
  3. Can you read English? Ted said clearly:

    Since you are an "undercover" IB employee. Ted wouldn't count you as an IB employee. So hold your breath waiting for Ted's answer :D
  4. You keep doing it lj. The above post simply offers Ted useful advice.

    1) The first would help prevent this thread from going the direction you seem determined to take it
    (and thanks to JMowery1987 for withdrawing his post - that will
    help keep this thread focussed on Ted getting a solution).
    2) The second would solve the problem that Ted and IB describe.

    I don't care whether Ted answers or not. But if he really wants a solution to his problem then I hope that the advice above will help him. I suspect that he hasn't used the cheque and snail mail option. In the mean time please go back under your rock.
  5. kiwi_trader

    Both of your messages demonstrated your true intention of character assassination to both Ted and me. I don't think Ted and I would fall into your old trap of lowering ourselves to your level to have another fight with you.

    I'm only here to give you advice:

    1. If you want to get Ted's answer, you better confess that you are an undercover IB employee.

    2. If you have better idea to solve Ted's problem, you should suggest it to your IB boss. I am pretty sure after over two months of delay, Ted must have tried everything he could. I doubt a person with over a half million account would have thought less than someone working here as an undercover IB employee:D
  6. Ted,

    my humble suggestion, 2 months is a long time but now that you've got IB's full attention, give these guys a little time... very likely, they are just caught in between with a wire transfer gone wrong, while their bank and your bank(s) are trying to sort this all out...

    i know it may sound unbelievable / disappointing in the 21st century but, when these (fortunately rather rare) situations happen, just because they are pretty rare, its entirely possible that the receiving bank will simply hold on to the funds for a while without notifying the sender (IB, their bank) of a rejection... thats what happened to me with Citibank and more than a month after Socgen - apparently missing some info that mysteriously didn't get passed thru by a correspondant bank involved in the transfer - simply returned the funds to my Citibank acct, instead of applying them to my account with the broker... anyway, thats my story, your case may be different, but as the sender i am pretty sure IB would prefer this to get sorted earlier rather than later... however if the banks themselves have botched the transfer, the only thing IB can do right now is push them, and they would be doing that... but, ever tried 'pushing' a bank Ted? ;-) let me tell you, its pretty hard...

    hang in there!

  7. 2cents,

    I have talked to Ted, I know his situation very well. Ted has offered his help from the beginning. If IB had taken Ted's offer, the entire fund could have been returned the same day. IB has stonewalled him from the beginning. IB's arrogance has caused tremendous damage to Ted. :mad:
  8. I thought I had IB's full atttention. They asked me to take the matter private to get a response. We did that, while IB was probably laughing at me for the last 12 days.
  9. So, lets get this right. You, who had never posted on ET before this, and acted like an independent party for 50+ posts even on the last page, know Ted's situation very well? You both get very rude when you think people oppose you - what's your relationship exactly?
  10. lianjieman,

    i can relate to Ted's frustration, i wanted everybody shot at Citibank when it happened to me, and i too was offering to help all along, and i too felt stonewalled, but the reality was different as i found out later... the reason my Citibank private banker wasn't getting back to me is, she was killing herself trying to get this fixed, and she just didn't know what to tell me, because it was to a great extent out of her hands, because its not just one entity involved, but many... and i was calling left right and center, my broker, Citibank, everywhere, trying to 'help', but i wasn't helping...

    again, 'my' story, Ted's is probably quite different in a number of respects... learning point for me, what i perceived as 'arrogance' from Citibank was for the most part 'embarrasment' at their end, nothing more...

    look its a leap of faith of course, but perhaps its worth for Ted to take a second look now... things are not always what they seem...
    #10     Mar 8, 2006
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