Personal Finance

Anyone set up EFT link between Interactive Brokers and Canadian bank USD account?

  • Last Updated:
  • Jul 27th, 2019 2:08 pm
[OP]
Sr. Member
Jul 25, 2010
504 posts
194 upvotes
Vancouver

Anyone set up EFT link between Interactive Brokers and Canadian bank USD account?

When trying to do this in IB's funding management UI it always asks for correspondent bank info (SWIFT/BIC codes), which makes it seem like setting up a wire transfer to a US based bank instead of the usual EFT link we use in Canada to transfer between Canadian banks.
My understanding is that setting up EFT regardless of whether it is USD or CAD should not require going through US based correspondent banks, as described by their documentation:
https://www.interactivebrokers.ca/en/index.php?f=1544
I've successfully set up EFT links to my Canadian CAD accounts which as expected the UI only asks for bank/transit/acc numbers.

Am I missing something? Has anyone else successfully set up an EFT link from their IB account to Canadian based USD account without having to deal with correspondent banks?
1 reply
Member
User avatar
Apr 17, 2001
324 posts
172 upvotes
I have IB linked to my TS USD account here many many years ago... I didn't have any set up problem.

I *think* it was just the same way I linked my TD CAD account.

Then again it was more many years ago. The UI probably changed...

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