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