Can I receive a deposit from a third party?

Third party deposits are defined as those deposits which originate from or are drawn upon an account at a financial institution which is titled in a name other than that of the receiving IBKR account holder(s). Third party deposits also include check deposits made payable to the IBKR account holder and endorsed over to IBKR.

As third-party transfers have historically been viewed by the financial services industry and its regulators as being highly susceptible to acts of fraud and money laundering, they are strongly discouraged and, in most instances, rejected by IBKR.


IBKR reserves the right to reject any third-party deposit received as an electronic transfer (Wire, ACH or EFT). IBKR will generally accept funds from spouses and partners. IBKR will generally not accept deposits for other persons or companies identified through the firm’s reviews.

In accordance with its regulatory obligations, IBKR may conduct additional due diligence on client deposits, particularly deposits from anyone other than the account holder.

it's not just IBKR.

when you open a bank account, you signed a document which says the bank account is only for your personal use. If you lend it to someone to accept deposit and to remit funds, it's illegal. You're effectively a money mule.

You've dual nationality?

It works but the fund will be withheld for 4 to 7 days at IBKR before being allowed to use.
The problem is, there's no USD (nor any other currency) borderless account for new accounts opened by Malaysia residents.

switch what? There's nothing to switch. You can just leave it be.

That's what I thought too! I was thinking how you could change your residential address so easily without any proof of address.

Now I remember. When I moved to another country, they also asked for a proof of address in order to change my country of residence. So, even though you can open the USD borderless account, any money transfer should require you to complement with a Singaporean residential address.

debit card? Isn't that extra charge?

I always do manual transfer or FPX.

Euro account has always been in Germany, never in the UK unless you chose GBP!!

I did via TransferWise.

it says using TSG subscription and TSG software. Are you subscribed to them and / or do you use their software?

whenever you need to check / edit your personal info, settings, market data, funding, withdrawal etc, always log in and check in your client portal.

Transferwise ok, but InstaRem won't work. You need a residential address in SG, and you MUST choose either SGD>MYR or MYR>SGD when you open the instaRem account. You can't have both. Kinda stupid!

what is that?

it has always been USD2! Now and forever!

I think I mentioned it before?

The problem is - YOU'RE USING MOBILE! Hint: try something else!

the set up is done on IBKR client portal, nothing on TW. You just need the TW details, which can not be obtained from TW mobile.

Everything is done on IBKR client portal.

Under USD acc, mine has 2 acc details.
If I click the previous acc details, it says "direct debit is not allowed!"
If I click the current acc details, then it doesn't say, i.e. it worked this way.

and last time when I went to the TW mobile version, it said direct debit is not allowed. I only realised later that it worked on desktop version.

This post has been edited by moosset: Apr 28 2021, 06:54 PM

I did not.

If it were true, then it's great for us; but I highly doubt it.

as per my understanding, regardless where your broker is, US stocks are subject to estate tax.

that's not a problem with ADR.

TCEHY is traded in PINK so you need to enable penny stock.

again, this is a grey area that no one can be sure unless we've someone passed away / experienced it.

when you deposit USD, it's directed to their bank account based in the US. I think for non-usd cash, probably can escape from the estate tax. For USD, I'm not so sure. It's probably more complicated behind the scene so CSOs usually say find a tax consultant.

what is the definition of a US broker??

Are TDA SG / IBKR HK etc considered US brokers?

confirmed? Oh then good. Then our cash is safe from estate tax.