facebookAny fee for transferring USD from SCB Bonus$aver or FCY$aver to IBKR? - Seedly

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Anonymous

18 Oct 2021

General Investing

Any fee for transferring USD from SCB Bonus$aver or FCY$aver to IBKR?

Fee for transferring USD from SCB Bonus$aver or FCY$aver to IBKR

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thefrugalstudent

18 Oct 2021

Founder at thefrugalstudent.com

Hi Anon,

I haven't done this myself, but I'm pretty sure you'll be charged telegraphic transfer fees.

IBKR uses a DBS MCA. If you fund your IBKR account with USD from an SCB account, it will be an inter-bank transfer in FX, which is chargeable with a TT fee.

If you really want to fund your IBKR account with USD, I'd recommend using a DBS Multiplier account to do so instead - it's completely free. I wrote a post about this on my blog, you can check it out if you're interested. https://www.thefrugalstudent.com/interactive-br...

Hope this helps!

Regards,

thefrugalstudent

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