Interactive Brokers Dividend Election

Hello everyone!
What is your setting towards dividend Election at Interactive Brokers?
There are three options: Reinvest, Receive Cash or Follow Account Level.

My Problem is:
As a Swiss resident with maincurrency CHF my dividend income in Euro or Dollar was automatically converted to CHF by Interactive Brokers. I would prefer, receiving Dollar Dividends in Dollar, Euro in Euro etc.

In my settings I choosed “receive cash” for my dividend Election.
Do I have to change this to “Follow Account Level” so that Interactive Brokers does not convert the dividends automatically in CHF anymore?

Maybe important: I bought every stock with AutoFX in CHF. Does that have an impact on the incoming dividend currency? Additionally I have only a cash-account.

Thanks for the answers!

Mine is set to “Receive cash” on account level,
And (default) “Follow account” on individual stock levels.

This auto-conversion might be new?
As far as I recall I used to receive all dividends in USD too, now it seems to be all to CHF.

Thanks for your answer :slight_smile:

I just read almost every discussion here about IBKR and found out, that every Cash-Position below $5 ist automatically converted back to CHF by interactive Brokers.

I do not know if this is right, but it makes sense. Does anybody know?

Yes, it happened to me for my child’s account, as the dividends are also below 5 dollars. I guess you could change the main currency of your account to USD to prevent this. I didn’t try, I just stopped caring, when they introduced the auto fx when buying USD positions when you only have CHF. But of course, you loose 0.03% every time.

Perfect, thank you for confirming this!

Well I think I do not care about loosing 0.03% - just like you.
Anyway it’s easier to track my currencies like this in PortfolioPerformance.

so I don’t understand…Are dividends received in USD or are they automatically converted into CHF? Is there a setting where you can decide how to receive them?

Either is something new, or they receive the dividend in USD, but since it’s less than 5usd, it is immediately converted in chf.

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OK perfetto.
se il dividendo è inferiore a 5USD viene convertito in CHF se è >5USD rimane in dollari

Does anything speak against reinvesting (apart from using dividends differently)? No hidden fees or other unwanted shenanigans?

You pay the normal trading fees for reinvested dividends.

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