My parents are sitting on approx. $50k in a UBS USD account and wanting to convert it to CHF.
I’ve suggested the cheapest way to convert would be for me to do it for them through Interactive Brokers (IB).
However, as I do not have a USD account they would need to wire the money directly to my IB account.
Would IB accept such a deposit or would they reject it due to money laundering risk?
Alternatively, does anyone have any other suggestions on how to manage this flow rather than getting ripped off by UBS on FX. Even Transferwise would cost perhaps CHF150.