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Anonymous

29 Jul 2021

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General Investing

IBKR Deposit USD thru DBS

Essentially I was just wondering can I just deposit USD into my IBKR account from my DBS multi-currency account. I did some searching and a lot of websites recommend using DBS Remit (those articles are dated some time ago) but I believe IBKR now uses DBS multicurrency business account. With that being said, can I just do a simple fund transfer (instead of the oversea remit) directly to IBKR?

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thefrugalstudent

29 Jul 2021

Founder at thefrugalstudent.com

Hi Anon,

If you're using IBKR SG, yes you can. Initiate the transfer on IBKR, get the wire instructions (ie IBKR bank account number), add IBKR as a DBS payee, and make your fund transfer in USD (make sure you specify the recipient to receive in USD as well).

Regards,

thefrugalstudent

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