facebookI have some USD cash at hand and would like to transfer this into my IBKR account and avoid any currency conversion or fees in the process. Is this possible? If not, what's the next best option? - Seedly

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Adam

28 Jul 2022

βˆ™

Stocks

I have some USD cash at hand and would like to transfer this into my IBKR account and avoid any currency conversion or fees in the process. Is this possible? If not, what's the next best option?

I understand there are fees to deposit USD into multi currency accounts such as DBS Myaccount or Multipler accounts at bank branches.

Discussion (3)

What are your thoughts?

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Deposit USD into DBS Multiplier Account and initiate transfer into IBKR directly.

I see banks charge 1.5% for USD deposit. Then would the best option be I should go Mustafa Center, change to SGD, then deposit into DBS, then transfer to IBKR, and convert to USD?

I believe its unavoidable unless you have DBS treasures...

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