Send money to IB through Revolut?

simicc · February 16, 2020, 8:57am

Dear experts,
What is the best way to send money to IB?
I thought of Revolut would maybe be the cheapest option, if so, how should one do it with Revolut? Through EUR wire transfer?

Thank you all in advance
Simon

Dvier · February 16, 2020, 9:02am

If you send chf. Using Postfinance is free of charge

San_Francisco · February 16, 2020, 8:19pm

You can send CHF from a Swiss bank account as a domestic transfer.

Double_A · February 17, 2020, 4:26pm

Send it in the currency you have… Then exchange it on IB to whatever you need to for 2$.

simicc · February 18, 2020, 9:15am

why not change the money with revolut to usd and then transfer it to IB? to save the 2$?

Cortana · February 18, 2020, 9:55am

Do you have more than 100k in assets on IBKR?

simicc · February 18, 2020, 10:07am

not yet, but that is my goal

Cortana · February 18, 2020, 11:27am

So you are paying 10$/month anyway (including all transaction costs). The 2$ for FX and 0.35$ for buying an ETF are already covered.

San_Francisco · February 18, 2020, 12:02pm

Are you sure that the USD SWIFT transfer to IB will be free at both ends (and, if applicable, intermediate banks)?

Double_A · February 18, 2020, 2:38pm

If you got IB you probably are handling bigger amounts of money… And I don’t want to trust Revolut with that. Also I’m not sure if the account that Revolut sends your money from is actually in your name or not, but IB requires that.