Making a SEPA deposit to IBKR
In this guide I will teach you the method I use to fund my IBKR account. First, you will need to get the proper documents from IBKR. The first document that you want is the Account confirmation letter so that you can confirm to your bank that you own the account with the ID that you claim. You can get this document by:
1.Logging into interactivebrokers.com
2.Go to Performance & Reports -> Other Reports
3.Select Account confirmation Letter ->Run
4. In the popup menu you can select if you want your account value to be displayed or not, I prefer not. Then you Run it.
5. At this point you can save your document as a PDF or print it and we are going to use it later.
6. The next document you want is “Bank Transfer Instructions”, to get this one you go back to your IBKR account and go to Transfer & Pay -> Transfer Funds
7. Then you are going to select “Make a deposit” and if it is your first time then you are going to select “Use a new deposit method”
8. In this specific guide we are going to transfer EUR through Bank Transfer/SEPA, so you can click there on Get instructions and fill in the name of the institution, effectively the name of your Bank, then your account number in that institution and account nickname for future transactions. Also fill in your Deposit Amount (be vary that you will need to cover any additional fees above this amount that are bank specific.)
9.At this point you will see a document with the instructions that you will again either save as PDF or print and we will need it later.
These are pretty much the only two required documents, however from my experience dealing with different people doing these transfer they might want additional different Documents. Sometimes they want something called “Account Confirmation Letter with Customer Agreement”. This document used to be available in the Other Reports section, but no longer is. What you can do is go to IBKR Client Agreements and find a document to attach your Verification of account information too, at the time of writing this, what worked for me is the Interactive Brokers LLC Client Agreement. Also they might want that document separately. I also ran into the case where they want you to give a specific signed declaration. I will give you an example of a document I wrote in Serbian of what I had to sign off:
You can write up this document yourself, if you run into any additional trouble you can reach me at marko@tactics.financial and I will try to help you if I can.
Next couple of steps are gonna look differently depending on the Bank that you are using, some banks don’t even allow this type of transfer at all, for most, you will need to go to the bank and tell them that you want to deposit money to your Interactive Brokers account (in Serbia through code “519 - Portfolio ulaganja rezidenata”) and then handle it with them offline with the documents we created. One bank in Serbia that allows this to be all done online is Mobi, so I will use it as an example here.
-Go to “Placanja”
-Then “Plati pravnom licu” -> “Devizno placanje”
-Fill in the information from the Instructions document we received and attach the documents we discussed.
That is it. at this point you are all set to go and in a couple hours or days your money should be available in your brokerage account, good luck investing!
