How to avoid fees on IBKR for withdrawing

Investing / Funding & Currency conversions
21

I think I have the cheapest package.
Maybe a cost will be applied at the end of the month. I will check it when month finishes

22

Did they refund you?

FYI, no fees applied by YUH

23

I think I noticed that the fees vary per currency (I am only talking about IBKR fees, not the receiving banks - never paid anything with PF, Yuh, or DKB). Does that mean that if I withdraw twice in a month for two different currencies there won’t be any fees for both transactions?

24

No. First withdrawal per month in any currency is free, the following ones not. EUR withdrawal costs 1 EUR, though.

1 Like
25

Thanks. Then if I need both CHF and EUR better do it in this order :slight_smile:

1 Like
26

No, you see it when less money arrives than was send- it is deducted and specified in the transaction.

1 Like
27

That’s the point with UBS, it is an occasional mistake from them where this register the transfer as SHA, while IBKR sends it with OUR.
Until now my transfers had no costs, this is the first time it happened. Another transfer a week later to my Postfinance account also had no costs.
It’s UBS messing up.

Update:
Dear Mr. SwissMousse

Thank you for your message.
Regarding your withdrawal with ID XXX, there were some fees associated by UBS. We noticed that UBS was charging some fees to clients and this was escalated directly to our bank.
From now on, there should not be associated any fee.
We apologize for the inconveniences caused.

Kind regards,
IBKR Customer Service

3 Likes
28

By the way, IBKR’s bank for handling payments in CHF is
 UBS. When they lean in, it might generate some more pressure than my questions to customer service


29


Citibank (for deposits) and a German bank (?) for withdrawals.

30

I believe you, but thatƛ not what they told me about this specific transfer. That came from UBS, according to the Swift transfer data. Maybe it is not a one step process, or I am reading it wrong.
Not that it matters much.

Edit: Double checked - for one of my two accounts, the IBKR account is Citibank Londen, for the other account it is UBS ZĂŒrich, also for deposits. No idea why, I might ask