Transfer Securities from Interactive Brokers: no fees apparently

Investing / Brokers
43

So i read on Swissquote that there is a form. I need to fill a form and send to bank in charge of transfer .But IBKR does not need any form.

Any idea if this form needs to be sent to IBKR or Swissquote?

And does IBKR charge any fees for these? Their webpage says fees apply but do not mention anything

44

Just follow the IB documentation/flow, use the form as input.

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45

IBRK → ZKB: if I recall it right, the securities were available at ZKB after seven days. No fees from IBRK. I sent my VTI I had.

In this case, I used the form on IBRK’s website, a very easy and uncomplicated process. I informed ZKB (message through e-banking) that some securities are coming through and ZKB asked for my consent, in case they had to communicate with IBRK. Everything went smoothly and I asked ZKB to adjust the numbers as average costs or average FX when buying the ETFs.

ZKB → Migros Bank: securities were there within three days. ZKB‘s fee: CHF 100 + MwSt. per position.

Also in this case very uncomplicated, also US-domiciled ETFs.

In both cases the banks told me, the process could take up to three weeks.

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46

Thanks for sharing experience
I moved an IE ETF from IB to SQ. let’s see how long it takes

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47

IB → VZ
Moved 100 VT and it took 3 days

48

Have you contacted SQ yourself? I have started a transfer from IB to SQ (well actually PF but SQ is the depot bank) last week and I have not received the shares on PF yet. The status on IB says that they are waiting on feedback from SQ.

49

Actually I did the following

  1. I filled the request on IBKR online portal
  2. I filled the form that is available on SQ portal and send them a copy via message center. They responded that they will wait for contact from IBKR.

So my assumption is that now both parties know about this transfer. Let’s see how long it actually takes

I only did this last evening. So not sure yet

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50

As I do not have a direct contact with SQ I can’t send them anything. Maybe I reach out to them as it has been a while.

51

So an update
28 NOV -: request submitted at IBKR
6 Dec -: IBKR Status „settled“
9 Dec -: nothing on Swissquote yet. Waiting

I hope the securities arrive soon as I don’t like uncertainty of this situation. I talked to SQ on Friday (6 Dec) and they said I should expect settlement this week (week of 9 Dec)

52

It took around 10days in my case from IB to PF(SQ)

53

Was there a period of disappearance in between where stocks were not on any brokerage account?

54

I had the same experience. Took some time but all good in the end. I will keep doing that for some more time as a risk mitigation to have two broker.

55

Yes, approximately a week in my case…

I bought SSAC at SWX in CHF and after the transfer it showed in USD - I wrote to the support and they corrected it, again after a week or so.

56

Thanks for sharing

57

Any updates?

I was thinking of transferring VT to my SQ account. Any feedback or information on the timelines would be appreciated.

58

Hi.
The position moved by 12th Dec .
So it worked fine

And I had to provide the cost basis later on for them to correct costs

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59

Thank you for the information. What exactly do you mean by that? Specifically, does it involve sending them an activity report?

60

I just sent them a screen shot of cost basis for the position . I took it before making transfer

It was easier for me as I transferred entire position of ACWI

But if you will do partial transfer then you might need to share activity report

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61

Thank you for sharing your experience with the stock transfer. It’s great to hear that the process went smoothly.

If you don’t mind me asking, could you share how much you were charged in fees for this transfer?

62

Outbound transfers from IB are free.

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