IBKR Withdrawals

[liroyb]

Are there any banks in Singapore, Switzerland, or Channel Islands that accept direct withdrawals from IBKR (Basically transfers of funds which owned by me but from account not under my name)?

 

[Martin Everson]

Any bank like Barclays or HSBC in channel islands if you explain to them what your doing.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[pomegranate]

liroyb said:
... owned by me but from account not under my name...
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You will have an issue with IBKR not the bank. IBKR does not allow third-party transfers.

 

[Alonzo]

liroyb said:
Basically transfers of funds which owned by me but from account not under my name
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IBKR won't let you do that.

 

[Martin Everson]

Did I misunderstand OP. I was understanding he wanted to send money from his IBKR account to a bank account in his name. But the IB transfer will show as IB and not his name to the bank. If not then his out of luck as IB is indeed first party wires only 🙁.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[TheCryptoAnt]

liroyb said:
(Basically transfers of funds which owned by me but from account not under my name)?
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nah

 

[liroyb]

Martin Everson said:
Did I misunderstand OP. I was understanding he wanted to send money from his IBKR account to a bank account in his name. But the IB transfer will show as IB and not his name to the bank. If not then his out of luck as IB is indeed first party wires only 🙁.
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You were actually the only one who DID understood. Thank you!

 

[12345]

Can IBKR check the owner of an iban number? I think no so you can input a different name but then the bank could deny accepting this transfer
My experience: I had some withdrawals using a different name (different site not IKBR) with Revolut and Wise (small amounts a few hundred - a few k euro) and they were accepted without issues

 

[Martin Everson]

12345 said:
Can IBKR check the owner of an iban number? I think no so you can input a different name but then the bank could deny accepting this transfer
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They can in UK (for UK to UK local GBP payments) smi(&%. I discussed it below back in 2021 below. The functionality exists to probe name on a local UK account.

https://www.offshorecorptalk.com/th...dont-check-beneficiary-name.32816/post-166565

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[pomegranate]

https://www.ukfinance.org.uk/policy-and-guidance/guidance/confirmation-payee