Elve,
Many brokerage firms do not give you an IBAN number!
I do not have one!
I`m not with IBKR, but in your previous post month ago you stated, see bellow....I`m confused!
But if you have already used IBK, you should know that the IBAN is not in the name of the customer and that it is the same for all customers and that the funds are credited thanks to the reference.
So no at IBK, we do not have an IBAN in our name in order to be identified as in a bank, only an account number.
I suppose that in the flowbank IBAN field, it will be enough to enter the IBK account number, but I will wait for confirmation next week.
If you DID NOT see an email, dated 16/8/24
You are holding one or more financial instruments in deposit with FlowBank SA, in liquidation (FlowBank). While you may already have provided FlowBank with instructions for the transfer of theses financial instruments, we thank you for your comprehension on the following points:
(iv) To process a transfer manually is very cumbersome and requires that each line of transaction, i.e. each single instrument is addressed individually between FlowBank and the receiving bank and agreed upon (in writing) on several particularities of the transfer, including but without limitations to (a) settlement date, (b) trade date, (c) number of instruments transferred, (d) currency, (e) ISIN, (f) identity of the central depositary institution, (g) wiring account, (h) receiving account, as well for certain assets or underlying assets even (j) the ability for the receiving bank to accept the instrument in deposit. Consequently, the capacity for FlowBank to complete such transfer also largely depends on the ability of the corresponding bank to exchange and agree with FlowBank on those elements.Based on the current number of queries received and experience encountered so far with receiving banks, we expect the manual processing of the transfer of each individual instrument to last several months. However, if and when the automated process FlowBank is currently working on is implemented, such delay is expected to be significantly reduced. In such a case and provided no unforeseen impediment arises, it is the bank's and the liquidator's objective to reach an agreement on the automated process with the major counterparties by the end of the month of August 2024. Subsequently, such processes and the transfers of financial instruments would be implemented in a staggered way over the following weeks, hence, achieving the transfer of most of the financial instruments by the end of Q3, respectively start of Q4 of 2024.In any case, rest reassured that FlowBank and the liquidator, together with their counterparties, are working tirelessly to ensure a transfer of your financial instrument(s) as soon as possible.
We thank you for your understanding.
Last edited: Aug 26, 2024
