Interactive Brokers (IBKR), IBKR users, welcome!
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 May 17 2020, 12:04 AM
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#1
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Junior Member
66 posts Joined: Feb 2009 From: Petaling Jaya  
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Anyone tried funding IBKR in SGD using BigPay before? Their exchange rates are quite competitive and sometimes come very close to instarem. What I also like is that you can top up with credit card.
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May 17 2020, 10:30 AM
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#2
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Junior Member
66 posts Joined: Feb 2009 From: Petaling Jaya
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QUOTE(dwRK @ May 17 2020, 10:28 AM) ibkr don't accept debit credit cards What I meant was that BigPay is the only one that functions with a credit card top up and you can use that to send money to SGD |
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May 17 2020, 10:33 AM
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#3
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Junior Member
66 posts Joined: Feb 2009 From: Petaling Jaya
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QUOTE(Yggdrasil @ May 17 2020, 12:50 AM) It's outdated now. :/ Didn't update the post. Ya this one is outdated. Even during that time BigPay's fee was at RM7 and then they lowered it to RM5 sometime early this year I thinkLatest news is TransferWise is getting competitive and might even be better than Instarem. Best is to compare again. I compared recently and there has been times where BigPay's rates are better than instarem. And BigPay fee is fixed at RM5 Just want to know if it'll reflect in IBKR in Singapore. Maybe I'll give it a try This post has been edited by Lakeambience: May 17 2020, 11:07 AM |
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May 20 2020, 10:51 AM
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#4
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Junior Member
66 posts Joined: Feb 2009 From: Petaling Jaya
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QUOTE(roarus @ May 17 2020, 11:49 AM) There's a chance it may not work, you may still try it out for the benefit of everyone with a small amount  This is what shows up in my SG bank for Instarem and BigPay transfer: i. Intarem Inward FAST - NSTAPTE3, OTHR-<MY NAME>XXXXXXXX<SEEMINGLY RANDOM ALPHANUMERICS> ii. BigPay Giro Credit from TikFx Singapore BECH-<SEEMINGLY RANDOM ALPHANUMERICS> For BigPay my name is not visible in the inward transfer. Another thing is that in BigPay there's no place to include transfer remarks to enter IBKR account number/name.  Tried it with 2 SGD and it works and appears after 2 working days. There is no reference field to be keyed in during the transaction but somehow it gets deposited. Refer to my transfer receipt below.  |
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May 20 2020, 03:49 PM
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#5
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Junior Member
66 posts Joined: Feb 2009 From: Petaling Jaya
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QUOTE(dwRK @ May 20 2020, 01:43 PM) you could be more understanding Haha yes I just wanted to test with a small amount, the fee is just RM5 and can't even get a meal with that today. if it got stuck I wouldn't be too concerned about it, there would also be a risk of losing additional FX on the total amount when it bounces back? guy just burned a few $ testing n sharing results here... what if deposit failed and his sgd 100 gets tied up for 2 weeks... lol At least we know it works now  |
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Jun 1 2020, 01:23 PM
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#6
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Junior Member
66 posts Joined: Feb 2009 From: Petaling Jaya
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QUOTE(LostAndFound @ Jun 1 2020, 11:23 AM) Anyone used BigPay direct to IBKR? Or to CIMB SG? Yes I used BigPay to transfer direct to IBKR in SGD, it works fine. I did it with a small amount to try first and then transferred a larger sum after. Refer to my post #1024 on page 52 https://forum.lowyat.net/topic/4843925/+1020Their FAQ at https://www.bigpayme.com/faq-bank-transfer says International Bank Transfers This depends on where you're sending to. You can easily find out the cost of your transfer directly in your BigPay app. From Payments, tap International Bank Transfers, choose where you're sending to, enter an amount and we'll show you the fee. Anyone knows what the limit is for either of the case before? the limit is 20k RM a month I think |
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Sep 25 2020, 03:52 PM
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#7
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Junior Member
66 posts Joined: Feb 2009 From: Petaling Jaya
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Anyone else got a notification from BigPay few days ago? Seems like they have improved their FX rates to SG now and is even better than Instarem. Since BigPay can't take screenshot, here it is - 5,000 RM to SG Rate : 0.3290 Fee : RM 5 Total to receive in SG : 1643.23 SGD Instarem as following the screenshot, rate is better but total receive is less.  bellamy85 liked this post
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