Need help for setting up a Raiffeisen transfer to IBKR

Hi everyone! I’ve been reading MP and the forums for some time now and finally decided to give it a try! After waiting way too long and paying way too high fees with other brokers, I’m trying IBKR. Setup went quickly, first impression of the web platform is quite good.

Only thing missing: funds to do something. :slight_smile:
I tried to wire some cash from my Raiffeisen account to IBKR, it got rejected three times. Obviously, as transparent as swiss banks are, they only say Folgende Zahlung wurde von der Empfängerbank zurückgeleitet. Häufige Ursachen dafür sind fehlende oder ungenaue Empfängerinformationen oder das Konto existiert bei der Empfängerbank nicht mehr.

The payment details are in the screenshot below. What am I doing wrong?

The amount and source account match the ones that I announced on IBKR. One thing I’m not sure of: what is the correct way to call the Raiffeisen Bank in the IBKR announcement? Raiffeisenbank Grauholz? Raiffeisen Grauholz? Raiffeisen Schweiz?

Thanks in advance!

I’d try putting your Uxxx / Name in the “Referenz” field instead of “Mitteilung”.

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The Referenz field is only for structured reference numbers:

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UBS is only the bank of the recipient, not the recipient. Have you already tried entering Interactive Brokers LLC as recipient (dropping the separate “Endbegünstigter”)?

The official bank name for Raiffeisen might be “Raiffeisen Schweiz Genossenschaft”, see https://bank-code.net/swift-code/RAIFCH22XXX.html. Not sure about that part.

I successfully used the CH20 8909 5000 0105 6967 4 IBAN for a transfer last week (from PostFinance, though). I don’t know whether IBKR changed this very recently or whether some IBKR accounts have a different IBAN assigned.

You have two fields wrong

  1. name of recipient
  2. Reference for recipient

I cannot say much about IBKR account but that most likely you got from IB themselves, so should be correct

@goodnoodle
Are you sure there is a “U” at the end of the IBAN?
Never seen anything but a number there…

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For UBS account numbers, this seems to be common.

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Thanks @all for your tips.
I’m going to try to remove the separate “Endbegünstiger”.

@Abs_max what would you put into the reference field? (U1111111 / Vorname Nachname is not a valid value for this field if that’s the idea)

The reference info is provided by IBKR. But you are using a wrong field. You need to use field that is visible to IBKR and not the one which is for your own reference in your account.

I mention my U-number in the field “Mitteilung” for years.
“Referenz” is empty.

Thats the same IBAN I always use, with IBKR One pickwick Plaza as the recipient.

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“Mitteilung” seems like the correct field here. The recipient will get that. Maybe it’s called “Referenz” in other e-banking interfaces but here “Referenz” is the reference code for QR bills, which has a specific format (replacement for the reference numbers on the orange payment slips).

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fyi, the final recipient is yourself (if you want to keep it)

I see. Thanks for correction

Okay so it actually was just the “Endbegünstigter” mess that was the problem.
Mitteilung is, as @jay already pointed out, correct.

I’m kind of surprised though that the transfer went through in less than 30min - it’s already available on IBKR…
Thanks everyone!

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