GBP Deposits and Withdrawals

Deposits

Easily fund your Interactive Brokers account using our straightforward deposit options. We've included everything you need to know to get your funds working for you quickly and efficiently.

Before initiating your transfer, ensure your Interactive Brokers account is active and gather the necessary information:

  • Your IB account number.

  • Deposit amount.

  • Sending institution details.

The specific banking instructions will be provided when you create a deposit notification through the portal – an essential step that ensures your funds are properly matched to your account.

Quick Start: Fund your account

  1. Log in to the portal.

  2. Select Transfer & Pay and then Transfer Funds menu options.

  3. Select "Deposit Funds" followed by the desired Deposit Method.

  4. Click "Get Instructions" to get started.

 

Important GBP Deposit Information

  • What type of transfer can I use to fund my account with GBP?

    • Multiple transfer methods are available for GBP deposits depending on your bank's location: IBKR has a bank account located at a UK bank which is eligible to receive GBP via UK transfer methods such as BACS, CHAPS, and Faster Payments, as well as international bank transfer (SWIFT) if your bank is located outside of the UK.

  • What information does my bank need to transfer funds?

    • IBKR will provide you with both the sort code and account number for UK local transfer methods (BACS, CHAPS, Faster Payments), as well as our IBAN and SWIFT code for international bank transfers if your bank is located outside of the UK or if they do not offer alternative transfer methods. This information will be provided upon completing the deposit notification in Client Portal.

  • What is the cut-off times for same-day CHAPS payments?

    • For CHAPS same-day payments, the cut-off time to submit instructions is 3:30pm UK time. Payments submitted after the cut-off time, on weekends, or public holidays should arrive the next working day.

  • International bank transfers (SWIFT) from outside the UK may require the use of an intermediary or correspondent bank to route the payment through before reaching your account. These cross-border payments often take more time to complete (1 to 4 business days on average, longer for some destinations) and typically cost £25 or more.

  • IBKR does not control transfer speed. Consult your sending institution about processing times and cut-off times.

  • Payments requiring additional review may take longer to credit.

  • Please consult with the sending institution about costs, as fees vary by financial institution. We do not charge for deposits.

 

Deposit Transfer Methods

Interactive Brokers offers multiple methods for depositing GBP into your account. Each method provides different benefits in terms of processing speed, convenience, and associated fees. Available transfer options may vary depending on which IBKR entity services your account, as certain deposit methods are entity specific.

  • Bank Transfer

  • Link Bank Account via Open Banking

  • Transfer from Wise Balance

 

Bank Transfer

Setup a template at your bank to transfer funds from your bank to your IBKR account. Depending on the location of your bank, you can use CHAPS/BACS/Faster Payments or International Transfer.

Availability: All IBKR entities except IBKR India
Required Information: Sending bank's details (sending institution name and account number), and IBKR's provided bank account details.
Speed:

International transfer: 1 to 4 business days.

BACS: 2 business days.

CHAPS: Immediate to 1 business day.

Faster Payments: Immediate to a few hours.

Limits: Transfer limits may be set by your bank.
Fee(s):

International Transfer: around GBP 25.00.

BACS: Varies by bank; fees generally range from free to GBP 0.50.

CHAPS: around GBP 25.00.

Faster Payments: Varies by bank; fees generally range from free to GBP 0.50.

Trading Availability: Funds are immediately available for trading after arriving at IBKR.
Withdrawal Hold(s): 3 business days for international transfers and CHAPS payments. BACS and Faster Payments (FPS) can only be withdrawn to the originating bank account 180 calendar days after deposit.

 

Link Bank Account via Open Banking

Interactive Brokers uses Plaid to connect your bank and trading accounts. Send money from your bank to your IBKR trading account without leaving the IBKR Platform.

Availability: All entities except IBKR Japan, India and Singapore
Required Information: Plaid will use your banking information to instantly link your bank account.
Speed: Immediate to a few hours
Limits: Transfer limits may be set by your bank. Please contact them for further information.
Fee(s): Determined by your bank, generally fees do apply.
Trading Availability: Funds are immediately available for trading after arriving at IBKR.
Withdrawal Hold(s): 3 business days.

 

Transfer from Wise Balance

Link your Wise profile, then initiate a fund transfer from your Wise multi-currency account to your IBKR account. Wise converts your funds into an IBKR supported currency and transfers the funds to your IBKR account.

Availability: All entities except IBKR Canada, India and Japan
Required Information: Your Wise username and password to link to your IBKR account.
Speed: Wise converts your funds into a supported currency for this method and transfers the funds to your account. Provide transaction details to review currency-specific arrival times.
Limits: Generally, no limits, however transfer limits may be set by Wise.
Fee(s): Wise charges for currency conversion. Provide transaction details to review currency-specific fees.
Trading Availability: Funds are immediately available for trading after arriving at IBKR.
Withdrawal Hold(s): 3 business days.

 

Withdrawals

Access your funds with our streamlined withdrawal process. This section shows you how to transfer money from your Interactive Brokers account back to your bank. We've made retrieving your funds straightforward so you can access your money when you need it.

Quick Start: Fund your account

  1. Log in to the portal.

  2. Select Transfer & Pay and then Transfer Funds menu options.

  3. Select "Withdraw Funds" followed by the desired Withdrawal Method.

  4. Click "Use The Method" to get started

 

Withdrawal Transfer Methods

Interactive Brokers provides withdrawal options depending on which IBKR entity services your account, as certain withdrawal methods may be entity specific. Available method(s) differ in processing time, limits and associated fees. Review the details below to understand your options.

 

Local Electronic Bank Transfer

One-time setup of a withdrawal destination at IBKR to tell us where to send the withdrawal electronically.

Availability: All entities except IBKR Japan, India and Singapore
Speed: Receive the funds in 2-4 days
Limits: Daily limits apply depending on your secure login device. May be subject to further review by your bank.
Fee(s): One free withdrawal is allowed per calendar month. Subsequent withdrawals using this method will incur a fee of GBP 1.00 at IBKR.

 

Bank Wire Withdrawal

One-time setup of a withdrawal destination at IBKR to tell us where to send the funds via the SWIFT Network.

Availability: All IBKR entities except IBKR India
Speed: Receive the funds same day or next day.
Limits: Daily limits apply depending on your secure login device. May be subject to further review by your bank.
Fee(s): One free withdrawal is allowed per calendar month. Subsequent withdrawals using this method will incur a fee of GBP 7.00 at IBKR. Your bank may charge a fee for an incoming wire.

 

Transfer to Wise Balance Withdrawal

One-time setup of a withdrawal destination at IBKR to tell us where to send the withdrawal electronically to your Wise account.

Availability: All entities except IBKR Canada, India and Japan
Speed: Receive the funds next day
Limits: Daily limits apply depending on your secure login device. May be subject to further review by your bank.
Fee(s): One free withdrawal is allowed per calendar month. Subsequent withdrawals using this method will incur a fee at IBKR. Wise may charge a fee for an incoming transfer.

 

Other Considerations

Unacceptable Deposit Methods

The following deposit methods are not accepted for GBP:

  • Physical cash (coin or currency) – IBKR does not support physical cash deposits or over the counter transactions at bank branches.

 

Third Party Deposits and Withdrawals

Third party deposits are funds that originate from an account not owned by the receiving IBKR account holder. IBKR generally discourages and reserves the right to reject third-party deposits due to industry-wide fraud and money laundering concerns.

IBKR considers requests to withdraw funds to account not in your name, but approval isn't guaranteed and requires additional reviews. For faster processing its recommend to withdraw funds to your own bank account. Note that this service is not available for IBAU, IBIN, IBSJ, and IBSG customers.

 

Digital Wallet Providers

IBKR does not support digital banks when the bank is based on a digital wallet. IBKR does not recommend sending funds from a payment processor as funds are often sent without the payment details or sufficient information. This can lead to significant delays in allocating the deposit to your brokerage account or in some case to the rejection of the payment. Please see https://www.interactivebrokers.com/lib/cstools/faq/#/content/1218315577 for more information.

 

Other Restrictions

For anti-money laundering compliance, residents of high-risk countries face restrictions on transfers between countries and can only withdraw to accounts they previously deposited from. We may limit your transfer destinations regardless of location, and changing your base currency requires a 5-day waiting period before withdrawals. Restricted transactions will be automatically blocked. Please see Funds Transfer Restrictions for more information.

 

Top Deposit and Withdrawals FAQ's

Funding and Asset Transfers