Yes. With those 2, it should be sufficient.

You can deposit SGD to your CIMB (SG) via Transferwise and then CIMB (SG) to IBKR to avoid IBKR questioning your funds, requesting extra paperwork etc.

You can directly deposit other currencies to IBKR via Transferwise, but then IBKR might request for more paperwork to deal with the AML rules.

Btw, the TW borderless account still available for Malaysians?
That one has personal bank account number right?

For me I still have it. Maybe because got use it before so they don't cancel it.
I heard like recently banned malaysian from having access to it. I am lucky I am still having it.

Dang. You're lucky. I'm helping a family member to send money to IBKR using Transferwise and IBKR is asking for statements now.
Since don't have Borderless account, how to generate statement? Can only generate receipt.

Anyone own a HSBC Multicurrent account and use it to send directly to IKBR?

Show them the money flow (Malaysian banks > TW > IB)

That's what I did but they insisted for statements.
I then had to explain that I do not have one because Transferwise does not offer new borderless accounts to Malaysians anymore.
The compliance officer approved the deposit.

Now, I'm asking whether can send through this method or not in future.

Edit:

I asked:
Just wondering, I am allowed to send foreign currency to IBKR using Transferwise in future? Or the deposit must be from my name?

They replied:
You can send funds from a Transferwise account in your name or any other account that is in your name.

What a vague answer. So can or not?

This post has been edited by Yggdrasil: Aug 22 2020, 12:22 AM

I got the same message asking for statement.

I just reply the ticket AND also email them with an attachment of my Transferwise receipt pdf file.

Somehow got apporved

I just did 3 Transferwise transactions, finally approved compared to the Instarem nightmare I went thru. IBKR did ask for additional documents for compliance review. I sent them the receipt, latest bank statement for proof of name and the latest bank transactions to show the transfer I did to TW. Approved in 3 hours.

I think what IBKR wants is just proof to show that the flow of money originate from an account under your name

I've got their Everyday Global Account, can send directly via Wire but the forex rate bloody expensive even with a Premier account. Not recommended use Transferwise instead

Transferwise has a max limit of 30k per transaction. Any sifus here know how to bypass the limit if it's possible?

Hello, I am sifu.

Use direct bank transfer. So rich already, surely you can afford the fees.

Ohwaii

Wa your IBKR funded already a?

Yup, initiated the transfers during Thursday morning, reached IBKR night time and kena review, Friday night approved and funded. Total about 43 hours

Edit:accurate time

This post has been edited by HolyAssasin4444: Aug 22 2020, 06:04 AM

I initiated Thursday morning til now nothing...think i should switch to TW on my future transfer then

Has the money reached Europe? If not then give it time most probably Monday. If reached and under review just ask them to expedite via support chat

I have no idea. Instarem showing Processing only. Yea, probably monday i guess.

How long does it take to get the money in IKBR from TW? I made the transfer 2 days ago, today still not in.

This post has been edited by echoesian: Aug 22 2020, 11:01 AM

Yep still transferring there. Looking back at my instarem txn it took me about 3 working days too

For me reach IBKR same day, review take one day for them to reply

But T settled in 1?