Withdrawals from IB

Discussion in 'Interactive Brokers' started by Realist, Aug 10, 2007.

  1. sporky


    John is a cool guy. He's been helpful to me.
    #11     Aug 14, 2007
  2. I just did a withdraw request my email token came in about 10 seconds. I then canceled the request, just wanted to test it.
    #12     Aug 14, 2007
  3. john12


    here's the problem my friend. i withdrew a large chunk today after that story on money market problem as i want no more than 150k anywere now. i wasn't getting my token and i resent 5 times ,nothing for an hr. i called them and was on hold for 30 minutes. finally got somebody. THE PROBLEM IS YOUR EMAIL THINKS ITS JUNK AND HOLDS IT. PUT THE IB FUNDS WEB ADDRESS WHICH I THINK WAS HELP@INTERACTIVEBROKERS.COM IN YOUR CONTACTS AND BAMM IT COMES IN SECONDS
    #13     Aug 14, 2007
  4. Realist


    I have been making withdrawals from IB on almost a weekly basis for over a year now. I just started having these email issues last week and I have used the same email address with IB ever since I opened the account. I have always had IB in my allowed contacts as well. With all of the BS thats going around now, it just seems odd that when I requested a withdrawal, the tokens failed to show up in my inbox for more than 2 hours after my initial request was made. Before last week, I normally received the email token within seconds.

    Nonetheless, I do not have a significant amount of cash deposited with any broker so I am not completely paranoid about this. I think the issue has been resolved as I made the request early enough today to make the cutoff. However I certainly wish IB would look into this if other customers begin to experience the same issue....
    #14     Aug 14, 2007
  5. rayl


    One note on the money market scare thought: SIPC insures up to 100k in cash in your IB account.

    Same limit as FDIC at a bank.

    Though in modern history the Fed has protected 100% of bank deposits assuming it's a major bank. :)

    I guess Treasurys in your name would be better than the 100k limit.
    #15     Aug 14, 2007
  6. abxs


    Hi, could it be that the withdrawal rules have changed recently?

    It seems you now can alone withdraw to the same account from where you made a deposit earlier on, right?
    #16     Aug 18, 2007
  7. JackR



    What was the cause of your problem?

    #17     Aug 18, 2007
  8. Realist


    #18     Aug 18, 2007
  9. I know this thread is read by many existing IB & would be customers!
    Iam a international customer at IB for the past 15 months.originally I opened the a/c thro web & wired in $2500 & did a big ACH transfer from another US broker in to IB. no problem at all.I do average 10-15 trades a day.
    Last January I with drew a small amount thro wire.It showed up next day early morning at my (East Asian) bank a/c.

    Due to the recent market turmoil & my inablity to take too much advantage, I wanted to take a 2-3 month break from trading.
    So Today-while creating the wire out instructions,I forgot about about the already existing wire instructions format (no change in bank or a/c no) & created a second instruction.
    I got my email token but it did not proceed further as there is delay up to 72 hours if you change the already existing wire instructions.
    I log in to Banking/Funds CHAT & CSR- Mr Ray says it is better to call IB-US directly even though I can cancel the new instruction & re use the old one. So I make an international call to IB-US (only 7 minutes hold) & cancel the new withdrawl reuest.
    Back in to a/c management & using the original withdrawl instruction,I tried to wire out more than $100k. Error!!!!! Because I did not apply for secured transaction token. ( Iam using similar token for many of my East Asian bank a/cs) Then I reduced my withdrawl just below 100K & the system accepted & showed pending . I dont know whether it has been sent out yet.
    It is going to cost me $10 more for a second wire. Or I might wait till 1st Sep for the next wire out.
    Never had the need to talk to IB over phone from a/c opening -till today.
    Learnt a few things on how IB works. I'll recommend IB any day for a active trader.
    #19     Aug 22, 2007