Interactive Brokers - SGD now available for funding - Part 2

hwckhs

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i want to do step 2, but that dude keep mentioning notify them . Which I don’t understand . Isn’t it just the comment for recipient..

1.to me is I add ibsg as recipient
2. Add the details needed then transfer

3. wait for ib to put money to my ib account
Yes, just do that.

"Notify them" is via the blog's step 1 (deposit notification), and indirectly again in step 3 (remark/comment for recipient).

Everyone is just trying to help you out of goodwill. Take it with a light heart.
 

Coutinho_#23

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Yes, just do that.

"Notify them" is via the blog's step 1 (deposit notification), and indirectly again in step 3 (remark/comment for recipient).

Everyone is just trying to help you out of goodwill. Take it with a light heart.

okay thanks. Sorry for sounding rude because I am quite pissed off whenever I cannot understand someone .
 

xRenol

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okay thanks. Sorry for sounding rude because I am quite pissed off whenever I cannot understand someone .
  1. Set up a standing instruction in Interactive Brokers, letting them know a sum of money in a certain currency is coming from a certain bank
  2. Go to your bank and create a FAST transfer instruction to Interactive Brokers
  3. At your bank, submit the FAST transfer
  4. Check Interactive Brokers a few hours later to see if it is funded
Step 1
You can refer to How to Fund & Withdraw Funds from Your Interactive Brokers Account. and scroll all the way up and read through the section, How to Setup Transfer Instructions in Interactive Brokers.
Inside your IBSG account (not your internet banking account), you follow the instructions under the section How to Setup Transfer Instructions in Interactive Brokers. to create a standing instruction. This standing instruction is to inform IBSG that you plan (not yet transfer) to deposit fund into your IBSG account.

In layman term, Step 1 is like writing a letter to inform IBSG that you plan to deposit money into your IBSG account. Step 1 is all done inside your IBSG account (not internet banking account).

Step 2 and 3
Inside your internet banking account (not your IBSG account), these two steps are to create the payee for IBSG (depends on the bank information provided at the end of Step 1) and submit your bank transfer (based on the amount you stated in your standing instruction created in Step 1).

Step 2 and 3 are all done inside your internet banking account (not IBSG account).
 
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jimboyboy

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okay thanks. Sorry for sounding rude because I am quite pissed off whenever I cannot understand someone .
You never did online funds transfer before?

It is the same as making payment to anyone or any company.

Important thing is to indicate your account number with IBKR so that they know the money is from you.

Anyway, this is a small issue. If you don't do it properly, the bank will return you the money.

Or you can call the IBKR helpdesk for advice if you have other concerns.

Cheers.
 

Coutinho_#23

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You never did online funds transfer before?

It is the same as making payment to anyone or any company.

Important thing is to indicate your account number with IBKR so that they know the money is from you.

Anyway, this is a small issue. If you don't do it properly, the bank will return you the money.

Or you can call the IBKR helpdesk for advice if you have other concerns.

Cheers.

never done before except thru scb which is easy..
 

findmehereeee

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Hi all, noob question here. If i were to trade VWRA using interactive brokers, the account should be created with IBKRSG right (i.e. Interactive Brokers Singapore Pte. Ltd.)? What's the difference between IBKRSG and IBKRUS?
 

reddevil0728

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Hi all, noob question here. If i were to trade VWRA using interactive brokers, the account should be created with IBKRSG right (i.e. Interactive Brokers Singapore Pte. Ltd.)? What's the difference between IBKRSG and IBKRUS?
Doesn’t matter.

in any case you can’t really choose* if you are creating now.

the main diff is ibsg can trade SGX stocks for residents of sg. But ibus can’t
 

ashethen

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is it true that IBKR SG dont have any pattern day trader rule like IBKR LLC?
 
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