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 havenât 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 4â000 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?
Letâs consider that someone is retired and they have a portfolio worth $1â000â000 held at PostFinance. They get 2% per year in dividends, thatâs $20â000. 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
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For such a USD transfer (SWIFT), Postfinance charged Fr 2 and âon the wayâ to my IB account an additional $15 âdisappearedâ. This was the same for $20k as well as a $50k transfer, so I strongly assume itâs 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 didnât get accepted at Postfinance = âungĂŒltige Eingabeâ), but when I entered the ABA Routing Number that IB gave me into the field âBIC (SWIFT)â 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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Hey there, have you finally managed to withdraw USD/EUR from IBKR to Revolut?
Is there any trick worth mentioning because while I am trying to set-up a bank wire method with IBKR and putting the IBAN of my Revolut account, IBKR says itâs not recognisedâŠ
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 donât 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 itâs 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 donât allow or âsupportâ certain transactions. Wise for example doesnât âsupportâ 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 bankâs 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 itâs 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 thereâŠ
No surprises, since USD wonât be a SEPA transfer (which does usually not require SWIFT/BIC). As a SWIFT transfer though, donât 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, arenât you?
Pointless.
IBKR will either accept your payout account or not.
Revolut most likely doesnât have competent support to ask anyway.
It would be a different story if you rely on a payment providerâs account and thereâs a risk of them terminating your account/customer relationship or the transaction doesnât conform to their terms and conditions. But AFAIK Revolut donât restrict incoming transfers from brokerages in their terms and conditions. And they arenât 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 currentlyâŠ
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 directlyâŠ
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 thatâs 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 whatâs 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 wonât 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