No trick needed for EUR withdrawal, just use the GB25 REVO IBAN and you should be good.
I am not sure about it, many brokers specifically state that they don’t transfer funds to accounts at payment providers.
For EUR just open and use a free EUR account in your name: YUH, DKB, N26.
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The EUR IBAN at Revolut is in your name like a regular bank account. Never had issues with it.
However I do have Revolut Metal, not sure if it’s an shared Account on lower tiers.
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Free tier customers also receive individual IBANs with Revolut.
Some brokers may not like electronic money accounts (such as Revolut) as reference accounts and, vice versa, some electronic money accounts don‘t allow or „support“ certain transactions. Wise for example doesn’t „support“ IBKR according to their terms, as far as I know.
So the EUR bank wire withdrawal with Revolut worked fine.
For the USD bank wire now it is asking me to provide correspondent bank information - one step additionally compared to the EUR withdrawal method saving before -
However, I think this additional required information is just the Swift / BIC number (which I have myself) and Receiving bank‘s account with correspondent bank (as optional). I guess I could try it out, however I was a bit afraid maybe if they find anything strange and might have any consequences to my IBKR account?
Also even maybe from Revolut (if I make a withdrawal from a broker to them?)
I was thinking better calling them maybe and ask directly?
Does any had the experience moving forward towards the end of that process with USD?
My main thinking was to be able to withdraw my USD dividends (max once a month) for free to Revolut and from Revolut, then I can convert them for free and at the best exchange rate to CHF/EUR. Like avoiding the 2 EUR commission Exchange free from IBKR, plus getting a maybe even better exchange rate?
Does this make any sense or how are you guys withdrawing USD from IBKR if needed?
Also how are you dealing / tracking your dividends from IBKR? I know there is those reports from IBKR but for me it’s quite cumbersome and not quite clear when combined with my main portfolio account. I would really prefer to have another account specifically for dividends so that I can immediately check the status separately there…
No surprises, since USD won’t be a SEPA transfer (which does usually not require SWIFT/BIC). As a SWIFT transfer though, don’t be surprised if a couple of USD is charged during the transaction, possibly by intermediary banks. So it may not be free.
You are also aware that IBKR will only allow one free withdrawal per month, aren’t you?
Pointless.
IBKR will either accept your payout account or not.
Revolut most likely doesn’t have competent support to ask anyway.
It would be a different story if you rely on a payment provider’s account and there’s a risk of them terminating your account/customer relationship or the transaction doesn’t conform to their terms and conditions. But AFAIK Revolut don’t restrict incoming transfers from brokerages in their terms and conditions. And they aren’t known for terminating accounts/customers, quite the contrary (as opposed to freezing your account to carry checks).
As you said in the other thread, why convert 100 once a month, when you can convert 1200 every year? 
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I never withdrew USD from IB, I need CHF to pay stuff.
Why not reinvest them? Also how much are we talking about?
I reinvest all dividends together with the next monthly investments, but I barely get any dividends nowadays as most of my investments are in accumulating funds. What exactly do you need to track?
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I mean, I have the following issues currently…
I am using IBKR for more than 2 years now (mostly I am using from the mob app) but somehow I never realised when my dividends were paid exactly and how much it was paid especially on a user friendly and straightforward manner from the mobile app directly…
Okay, I was able to export the dividends report (thanks to SF 
) and was able to see respectively my dividends paid for the last year - but that’s not a very easy and user friendly way, to do it on the spot right?
I would expect something directly available in the mobile app showing all the credits and debits (transaction summary) straightforward or to get the dividends somewhere else directly, so that I can separately track and trace them simply
For this reason I thought the solution of Revolut so that I take them out in USD directly and I can either convert them in CHF with very good exchange rate and no fees in Revolut or can send them back in USD in IBKR.
But in both cases I will have full flexibility and full traceability about what’s the dividends status.
The solution to keep them in USD and reinvest directly back would be a good idea, however again I feel that I won’t have a simplistic traceability.
In anycase how is the best way to invest in USD in IBKR?
- transfer CHF from bank account and convert them in USD in IBKR
- transfer directly USD from Revolut or by any other means - if possible
Ps thanks for the tip I know the one withdrawal per month free… in any case most likely I was planning to withdraw once a year or max once every 6 months
How many different securities that pay dividends do you have in your portfolio? The dividend dates are publicly available information and it’s mostly the same date/dates every ear.
Why do you want to do this? This just doesn’t make any sense to me. I withdraw money from IB when I need it to pay something and don’t have enough cash at hand, for tracking dividends I generate the activity statement, for sure way easier than transferring it out, converting it or whatever.
Why do you need to trace them? What’s the reason?
- In my opinion, IB has excellent exchange rates and the 2 USD commission is peanuts, except if you transfer very small amounts, but then I would just wait until you have a large amount and convert it then.
I honestly don’t see any benefit of this whole traceability of dividends, please enlighten me 
I have for instance 6-7 different positions (ETFs and shares).
Somehow, I was never looking at the dividends so far (and it was also not easily visible and available to me), so just now I only realized that my selections were very bad at paying dividends. And I would like starting now changing that slowly going more into positions with higher dividends - but without a straightforward and simple monitoring system for me would be difficult to understand exactly my profits from dividends. That’s why.
For example in UBS/ Post Finance they are paying the dividends directly at your account so you can see the credit everywhere immediately…Also there is the transaction overview / statement so you can see all the actions (debit/withdrawal) from your account in one click… that what I am just kind of missing from IBKR with one click
Besides generating an activity statement in the app, you can activate sending of monthly activity statements per E-Mail. Don’t have to click anything at all.
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What’s the reasoning behind this?
Paying out dividends is the worst use of excess cash for a company, this means they don’t have any better way to deploy their money.
It’s the same at IB, the dividends are paid immediately to your cash accounts. So if your balance suddenly changes, you got a dividend.
It’s a few clicks more, nothing dramatic imo.
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In order to wire these usd dividends to Revolut, you will still need to know when they will get paid in IBKR. So for me it won’t solve your issue.
Revolut spot is not as good as the spot price on IBKR for usd/chf exchange rate. I have done the test on 12-25kusd and it beats Revolut by 120-250 chf (including the 2usd conversion rate).
Lastly, I will suggest you to plan a quarterly budget rather than monthly. It will give you some margin and optimise transfer/exchange costs.
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There is in the Mobile App.
Go to Account tab, then scroll right at the top to MKT: Value, there is an entry Dividends Receivable which is the actual cash you get that month from dividends, after withholding tax has been taken off.
Its gets set to 0 the following month.
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off-topic…
It also means they’re not deploying it in any worse way. Nor are they forced to use that cash for their ongoing operations.
May the company have run out of ideas or projects to better invest? Possibly. But by distributing it to shareholders, they‘re giving you, the shareholder, the opportunity to invest it elsewhere - even somewhere you (or another company) have more expertise on than the dividend payers.
Dividends are (usually) distributed from earnings and being highly profitable is actually a good sign for their current business. If a company can distribute excess cash to shareholders, it can operate at more efficient size and input/output combinations than if they need to spend that same cash on its ongoing operations or even uncertain „growth“ or expansion projects.
„We are earning excess cash - what are we going to do with it?“ doesn’t necessarily lead to better internal use of that cash. It is the proverbial nice problem to have.
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I think I successfully added my revolut account to the list of accounts for USD withdrawal. I did go through the process of setting the details that my revolut app specifies (ACH, not SWIFT). AND added Metropolitan Bank as correspondent bank. Then IB asked me to upload my passport and said they will wire two small random amounts that I have to fill in a form when they arrive.
It took a couple of days until they were there but finally everything seems to have worked. I did not yet transfer USD to Revolut but I am confident that this will work.
IB tells me that the first outgoing transfer per calendar month is free and from the second it’s USD 1 per transfer
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Soon it will be possible to link a wise account to IBKR Funding Via Wise | IB Knowledge Base
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Excellent news. In addition to the new currency options themselves, this seems to clear up any doubts about whether Wise and their T&C allow transfers to/from IBKR.
Edit: though going back to the withdrawal options: I am wondering if this means I can withdraw foreign currency (such as USD or GBP) from IBKR to Wise for free (at least for the first withdrawal each month) and then spend it using Wise‘s debit card?
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The payout of USD from IB to Revolut works and takes 1-2 days
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Just the reasoning behind the high dividends shares (to reply to @Burningstone )
Typically, I got in the space as a long term investor and not trader (more kind of DCA and mustachian type and not to play the market or time the market type of investor…)
Considering this fact and given the very volatile environment in the last years and the high risk of someone to be kind of trapped for many years with his portfolio - that happens to me somehow as well - (otherwise should realise a lot of losses to get out) … I tend to think that in case you are trapped for the long term better to stay trapped with some high dividends positions - so at least you get a kind of passive income every year while you don’t close your positions - and in the long run should be always beneficial