IBKR: Withdraw USD to Revolut account?

Quick question: does anybody know if withdrawal of USD directly to the REVO iban in the UK does work? Or does IBKR send it under another name?

I haven’t tried this, however, I withdrew CHF from IBKR to my regular Swiss bank account last year and my name appeared as sender in the bank statement. I.e. I expect this to work if IBKR supports withdrawal of USD via IBAN.

I tried it once last year, it did not work for me.

Interactive Brokers did not recognize Revolut as a proper bank.

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Yeah it asks for a correspondent bank… Converted funds to EUR and withdraw like that instead.

I have a very similar question. Today I exchanged 4’000 USD to CHF in PostFinance E-Trading (which is powered by SwissQuote). The exchange rate was 0.98 CHF per USD, compared to the 0.99 rate I found online. That means there is 1% hidden fee in the exchange rate.

Question: how much would it cost to transfer USD from PostFinance to Revolut/IB? Would regular SWIFT fees apply?

Let’s consider that someone is retired and they have a portfolio worth $1’000’000 held at PostFinance. They get 2% per year in dividends, that’s $20’000. If they exchange this money to CHF within PostFinance, the fee will be 1%, so $200. Or they can send it to Revolut/IB and save on exchange fees. That is, if the transfer fee is not too high.

It could be the same issue as with IB. You might not be able to withdraw USD to Revolut directly. But not sure.

And yes, I guess SWIFT fees would apply.

And: You might need a Revolut Premium Account (120 CHF / year) to profit from the interbank exchange course if you want to change more than 1k / month from USD to CHF

For such a USD transfer (SWIFT), Postfinance charged Fr 2 and “on the way” to my IB account an additional $15 “disappeared”. This was the same for $20k as well as a $50k transfer, so I strongly assume it’s a fix amount regardless of the transfer amount.

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Did you then use the SHA method?

Not sure about the names for this.
For IB it was a wire transfer.
For Postfinance it was a Giro International payment.
At Postfinance there was a field to choose from Fedwire, ABA etc.
For this field, I had problems with the SWIFT/BIC Code of the receiving bank (Citibank, NY) that I got from IB (it didn’t get accepted at Postfinance = “ungültige Eingabe”), but when I entered the ABA Routing Number that IB gave me into the field “BIC (SWIFT)” it worked.

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Most probably. Should be the default option, and with OUR the full amount should arrive.

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EUR arrived today in the Revolut account, converted to USD and off it went to Binance xD

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