Interactive Brokers enables US clients to add Direct Deposit to their IBKR accounts

Maria Nikolova

Interactive Brokers has recently added Direct Deposit as a feature of Integrated Investment Management.

Online trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) has recently added Direct Deposit as a feature of Integrated Investment Management. Direct Deposit lets clients automatically deposit paychecks, pension and social security payments or third party payments to their IBKR account.

One can use Direct Deposit to put cash to work by earning market rate interest on their idle cash balances or investing the cash in stocks, options, futures, forex and fixed income on over 120 global exchanges at lower cost. Setting up Direct Deposit is quick and easy – clients just have to provide IBKR’s routing instructions and their account number to their employer or paying institution.

US clients can set up Direct Deposit by logging in to Account Management / Client Portal and selecting the Transfer & Pay > Direct Deposit menu.

Via Integrated Investment Management from Interactive Brokers, one can earn, borrow, spend and invest globally from one account. Clients can earn market rate interest on their idle balances and extra income by lending their fully paid shares. Thanks to IBKR’s debit card one can make ATM withdrawals or purchases worldwide, without late fees or non-US transaction charges. All this various operations can be performed from a single account.

In terms of payments, Interactive Brokers has been seeking to respond to traders’ needs via its Interactive Brokers Debit Mastercard (available in certain regions only).

FinanceFeeds has informed its readers in detail about the features of the Interactive Brokers Debit Mastercard in an exclusive interview published in October last year. In its essence, this product is an integrated financial management account that links your brokerage account to a debit Mastercard to facilitate borrowing and spending at ultra-low rates.

Let’s note that traders must have an open, funded Interactive Brokers account to qualify for an Interactive Brokers Debit Mastercard. Traders may spend and borrow directly against their account, with no monthly minimum payments and no late fees. Of course, they can use the Interactive Brokers Debit Mastercard anywhere Debit Mastercard is accepted around the world. They can also invest in stocks, options, futures, forex and bonds on over 120 global exchanges at lower cost.

Early this year, Interactive Brokers released some important updates to its mobile apps with regard to the Debit Mastercard. Traders got to manage their IBKR Debit Mastercard – authorize transactions, pre-authorize large-purchases and lock and unlock their debit card right from their phone.

Read this next

Digital Assets

Point72 invests $77.5 million in Bitcoin, Morgan Stanley holds $269.9 million

Point72, the $34 billion hedge fund owned by billionaire and New York Mets owner Steven Cohen, held $77.5 million in the Fidelity Wise Origin Bitcoin Fund (FBTC) at the end of the first quarter, according to a recent filing.

Digital Assets

Binance claims Nigerian officials sought $150 million bribe

A Nigerian court has ruled that Tigran Gambaryan, a Binance executive detained on charges of tax evasion and money laundering, can stand trial on behalf of the world’s largest cryptocurrency exchange.

Digital Assets

Kraken reviews Tether listing in Europe ahead of MiCA adoption

Cryptocurrency exchange Kraken is “actively reviewing” whether to delist the stablecoin Tether (USDT) from its European platform, according to a report by Bloomberg.


Discover How MoonBag Coin Presale Stacks Up Against Dogecoin & Litecoin

Discover how the MoonBag Coin presale compares to Dogecoin and Litecoin, with unique features, a robust presale structure, and new opportunities in 2024.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: Federal Reserve Policy, USD, May 17 ,2024

Overall, both the Federal Reserve’s policy and the US dollar’s outlook are shrouded in some degree of uncertainty.

Market News, Tech and Fundamental, Technical Analysis

Ethereum Technical Analysis Report 17 May, 2024

Ethereum cryptocurrency can be expected to rise further toward the next resistance level 3200.00, which is the top of the previous impulse wave i.

Digital Assets

Hong Kong adopts digital yuan payments through Chinese banks

Hong Kong has launched a pilot program enabling digital yuan payments through major Chinese banks, marking the first instance of China’s digital currency project being deployed outside the mainland.

Retail FX

Saxo Bank increases client assets five-fold to $116 billion

Copenhagen-based broker Saxo Bank has achieved a major milestone, surpassing $116 billion (DKK 800 billion) in client assets.

Inside View

ISDA says US Basel III “endgame” to heighten market risk capital

ISDA further explained that, by requiring banks to hold additional capital that is misaligned with levels of risk, the proposal would significantly reduce capital market access for US end users and businesses, restrict the ability of businesses to hedge exposures to changes in commodity prices, and increase the cost of everyday consumer goods, including food and gasoline.