Is there a min for transfer to DBS? You can send to My Account first, then only deposit into FD. There is a SGD10 inward fee though.

For Foreign Currency FD, the minimum amount is 5,000 SGD equivalent.

Source: https://www.dbs.com.sg/personal/rates-onlin...d-deposits.page

Hey everyone, sharing a hack here.

If you transfer from IBKR in USD to a DBS USD fixed deposit (USD), it automatically puts that amount into a default 1 month deposit and there is no $10 commission fee. Change the maturity instructions to withdraw it to your emulticurrency account. After 1 month move the money as you required. I been doing that for a couple of years now. Please however do call DBS to check in case they change their policy anytime.

For DBS to IBKR even more straightforward, use DBS remit, same day transfer zero fees.

This IBKR DBS method has saved me lots of commission and wire fees over these years.

Incoming Funds Transfer

For crediting to a SGD or Foreign Currency Current Account – S$10 Handling Commission Fee (Waived for Treasures Customers)
For crediting to a Foreign Currency Fixed Deposit Account – Free

But the FD account only show SGD as default currency. I was worried that it automatically convert from USD to SGD after transfer. Can't find any explanation from DBS website about direct transfer to FD account guideline.

As for transfer from DBS to IBKR, how do you enter your account number? I found there is no field to key in the note "For further credit to account xxxxx". Only one account number which is IBKR account at corresponding bank can be entered.

DBS 1mth FD gives 3.42%, 3mth 4.28%. If you have >10k, IBKR giving 3.33%. Wouldn't this better than buying ETFs that gives 1.3% but may subject to various risks?

No. Cause FD you are getting fixed 3.xx%. Etf over time will give you 8-9%p.a

Someone PMed me and asked how to transfer from IBKR UK to IBKR US. For the benefit of everyone else, I will just post the steps here.

...

As this is still an ongoing process, I will update you guys from time to time.

Dear Mr. [My name],
In order to process this manual transfer request, you need to do the following:

1. Please find the Letter of Authorization sent via email. Kindly fill the form, sign (handwritten signature) and return along with a Government issued (signed) documents “i.e." (passport or driver's license) for the account holder. Note: Signature on the form should match with the signature on the ID document provided.
2. We need to do a verbal verification with the account holder before we can process this request. After submitting the documents, kindly contact us and mention the ticket number [my query's ticket number] for the verbal verification.
Our contact numbers are available on the following webpage: https://www.ibkr.com/support
You can attach the required documents on the webticket for this manual transfer request (# [my query's ticket number] ).

Kindly go through these transfer related notes:

•Submitting a transfer request is not a guarantee that we will process.
For FULL ACCOUNT transfers - The source account will be slated for closure and will not be able to be used again once the transfer is complete. Any deposits, transfers, postings, etc., will automatically sweep to the new account and cannot be moved back.
•If applicable, Financial Advisor fees may not be assessed as they do not accrue. In the event Advisor fees are owed by a client to an Advisor, it is the responsibility of the client and their Advisor to resolve.
•Market data subscriptions will not transfer and may not terminate on the source account if applicable.
•Stock Yield permissions, loans and borrows will not transfer.
•Depending upon the circumstances, open orders on the source account may not automatically be canceled and should be reviewed.
•SMA (Special Memorandum Account), accruals and TWS cost basis will not transfer. Once Accruals post to the source, they will automatically sweep to the new account.
•Cost basis information as shown on the statements may change depending upon various IRS regulations and factors.
•Cost basis information on internally transferred positions cannot be changed.
•Once final approval has been received, these requests can be queued for overnight processing on a best efforts basis.
•We ask that on transfer day, the client keep trading in the afterhours (U.S.) to a minimum as trades which occur may not transfer properly to the new account and could require an extra day to sweep to the new account.
•In reality, depending on what documents we have on file, what needs to be required, and compliance turnaround, these types of transfers can take anywhere from 2 days to several weeks.
•If the margin type differs between accounts then you will be asked to acknowledge the difference or to change the account type prior to the transfer being scheduled.
•Unvested IBKR welcome shares cannot be transferred and may be forfeited after the transfer. Please review the terms of service related to the welcome share program.
Regards,
Faisal C
IBKR Client Services

Update from IBKR:
It's time to get my Skype ready once again. Email arrived a moment later:

Interactive Brokers offers Overnight Trading on IBEOS in the following 24 widely-held US ETFs: FXI, SPY, EEM, GLD, SLV, DIA, UNG, TLT, IWM, QQQ, USO, SH, RWM, PSQ, AGG, DOG, EWA, EFA, EWJ, IJH, VTI, XLF, XLE, and XLK. Overnight Trading Hours on IBEOS are from 8:00 pm ET to 3:30 am ET, with the first session of the week beginning on Sunday at 8:00 pm ET and the last session of the week ending on Friday at 3:30 am ET. Any trades occurring during Overnight Trading Hours will be settled on schedule as if they had occurred during the next US stock regular trading hours session.

All clients with US Stock trading permission will have access to Overnight Trading on IBEOS and can take advantage of multiple order types and free overnight market data.

need some advice. anyone here using HSBC everyday global - multicurrency account and deposit for IBKR ? is this HSBC multicurrency acc method better than the cimb way of deposit ?

What would be best way to fund MYR 120K into IBKR?

Using WISE-ACH or CIMB SG?

If i not wrong, WISE only can max MYR 30K, meaning i need to perform few transactions?

Sifu, pls advice

If i use the route "Wise (MYR) -> CIMB SG (SGD) -> IBKR (SGD) -> IBKR (USD) method", can i transfer the entire 120k MYR in one shot?

How much can I send?

Malaysians and Expatriates are allowed to send 30,000 MYR per day.

What are the advantages of IBKR US over IBKR UK? I was afraid of moving my IBKR UK to US because of potential tax issues. But AFAIK, taxes should not broker dependent.

tax obligation is on the customer's/tax payer's tax status or residency...

Just use HSBC, 1/2m also can

I was asked to do a verbal verification. I dont know which number to call them. Can someone help me?

cool thanks. she asked if i wanted a full, partial or cash transfer. I said "full transfer". I think that's right