Use desktop to transfer when using Sunway money.
Make sure swift code, account number all match.

Usually BigPay is slightly cheaper (during office hours). But, it's same as Wise (direct method) after I factor in the $2 conversion within IBKR.
Yup. If you can use Sunway Money, use this instead. For some reason, I keep getting error when I want to transfer money using Sunway Money.
I think Sunway is more trustworthy than BigPay especially since BigPay is owned by A____ who has cash flow issues. There is probably a risk your money gets stuck there 

sorry to ask, but what is "Sunway money"? an fintech company like wise/bigpay?

Yes, online money remittance service.

https://sunwaymoney.com/

thanks! and wow, only Rm1 service fees to transfer to international account? Even wise charged like RM5 - RM 10 for conversion and transfer

Marketing gimmick. I can charge you low fees but mark-up the exchange rate. In the end, compare the final amount to be received. The higher the better.

Don't bother about "low fees" or "market rates" etc. Think about it, have you seen any forex service providers tell you "low fees" + "market rates" at the same time? (No, because they would earn nothing/very little if they offer both.)

*And beware of overall low cost, more often than not that won't last. The new entrant wants to gain market share, so they undercut competitor's margin, that's what Sea did with Shopee and Amazon did to its online webstore. https://www.chinatimes.com/realtimenews/202...07-260410?chdtv

thanks! and wow, only Rm1 service fees to transfer to international account? Even wise charged like RM5 - RM 10 for conversion and transfer

Marketing gimmick. I can charge you low fees but mark-up the exchange rate. In the end, compare the final amount to be received. The higher the better.

Don't bother about "low fees" or "market rates" etc. Think about it, have you seen any forex service providers tell you "low fees" + "market rates" at the same time? (No, because they would earn nothing/very little if they offer both.)

*And beware of overall low cost, more often than not that won't last. The new entrant wants to gain market share, so they undercut competitor's margin, that's what Sea did with Shopee and Amazon did to its online webstore. https://www.chinatimes.com/realtimenews/202...07-260410?chdtv

how long since account is approved?

I have done everything including fund my account.

all that left is waiting for my account being approved by IBKR

Agree, thanks for sharing, I guess I will stick to Wise as of now.

By the way, anyone know how to transfer Wise USD to IBKR USD? Do I get instructions for "Bank Wire" or "Direct ACH Transfer from your Bank" in IBKR for USD?

I done a test last night at around 10pm of sending USD from Wise directly to IBKR, received in IBKR this morning. Is this the recommended way? Hope they won't audit me in the future 

I done a test last night at around 10pm of sending USD from Wise directly to IBKR, received in IBKR this morning. Is this the recommended way? Hope they won't audit me in the future 

ChatSys: This chat is associated with ticket #337089. Please record this number for use in future inquiries. You are currently in room 'Funds And Banking'.

davidtcf85: how long do I have to keep my Transferwise deposit receipts?

Alfred L: Hello, this is 'Alfred L'. Please allow me a moment to read the question you submitted to iBot and I'll respond to you shortly.

Hello, this is 'Alfred L'. Could you please explain more?

davidtcf85: I would like to know how long do I have to keep my Transferwise deposit receipts into IBKR? I have known others that have been audited by IBKR via email asking for more documents to prove that the fund is theirs? Hence would like to know how long do I have to keep the receipts, is it 1 year, 3 years, 5 years, or indefinitely? Thanks.

Transferwise website: https://wise.com/

Alfred L: You should keep the receipts until you receive the fund

ChatSys: ATTACHED FILE : audit1.jpg

davidtcf85: ^the audit looks like this

ChatSys: ATTACHED FILE : audit1.jpg
ATTACHED FILE : audit2.jpg

Alfred L: do you receive the fund in IB?

davidtcf85: yea I received

so far transferred many times, will receive next day

Alfred L: so it should be fine.

davidtcf85: i just concern of being audited one day

ChatSys: ATTACHED FILE : chat in whatsapp group IBKR - usine Wise transfer.pdf

davidtcf85: ^ i combined all 3 pics into one

if there's any info u have on IBKR's audit for such deposits do let me know

cant find it anywhere in the FAQ about such audit also

this one someone posted in whatsapp group chat for IBKR

Alfred L: there may be some review of your account only when compliance think the fund is suspicious (eg. third party)

I ask their chat support.. they just reply me as long I got the money in IBKR it's fine. Don't need to keep the receipts also ok. (but to be safe will still download and keep)
the above chat support need to be accessed while you are still logged in. Go to help there > support and search for chat function. If not logged in can't trigger this.

Nx year when we transfer back money we get tax 3 percent?

hey guys, I bought Alibaba share last week, IBKR says there'll be some fees for ADR shares or something, I know most china company stock in US is like there's a holding company and investor outside of china do not actually own the stock.

But regardless, IBKR doenst tell me how much the fees will be, is this something I should be worry to hold for long term? scare there's an ADR fee or something every month/day or so

Normal. I have TSMC's ADRs and Unilever ADRs, both incur some fees too.

This is Alibaba's ADR case: https://depositaryreceipts.citi.com/adr/gui...cusip=01609W102

Some more details.

https://topforeignstocks.com/2016/05/13/adr...be-aware-of-it/

The fees are usually very little, some 2% of the dividends you receive annually. 

Yes, you are right. Chinese tech giants like Baba are listed via the well-known VIE structure (Variable Interest Entity). In simplified terms, the VIE is a "shell company" incorporated in offshore locations like Cayman Islands, this "shell company" would then sign "contracts" with onshore Chinese companies which are subsidiaries of Baba to collect profits from their operations.

Watch this video below, will be eye-opening for you. VIE is introduced around 5:26.

https://www.youtube.com/watch?v=eqaI3_i7vc8