bill payment to Interactive Brokers
I make fairly liberal use of margin in our Interactive Broker account, given the great rates (currently 1% to 1.5%).
Like many others, though, I am concerned about the possibility of large corrections, given how frothy the stock market is. I would like to be able to quickly move cash into my IB account, to avoid margin calls/automatic liquidations.
ETFs are too slow for this purpose, it takes about a full business week before deposits are credited my account.
Does anyone have experience with the "bill payment" deposit method to IB accounts? What is your experience with how long it actually takes "bill payment" deposits to show up in your IB account? What bank are you using for this? Does time of day that the bill payment is made matter?
Like many others, though, I am concerned about the possibility of large corrections, given how frothy the stock market is. I would like to be able to quickly move cash into my IB account, to avoid margin calls/automatic liquidations.
ETFs are too slow for this purpose, it takes about a full business week before deposits are credited my account.
Does anyone have experience with the "bill payment" deposit method to IB accounts? What is your experience with how long it actually takes "bill payment" deposits to show up in your IB account? What bank are you using for this? Does time of day that the bill payment is made matter?