Interactive Brokers makes electronic money transfers to third parties available to US clients

Sourced from: https://financefeeds.com/interactive-brokers-makes-electronic-money-transfers-third-parties-available-us-clients/

Online trading important Referral Agents has declared  its US customers can now utilize the Automated Clearing House (ACH) network to safely and securely transfer money to and from their account with the broker.
An individual may use Direct Deposit to put cash to work by making exchange rate interest because of their idle cash balances or investing the cash in stocks, options, futures, foreign exchange and adjusted income on over 120 global exchanges at lesser cost. Establishing Direct Deposit is fast and simple — customers just have to provide IBKR’s routing instructions along with their account number to their company or paying institution.

Direct Deposit enables customers mechanically deposit charge, pension and social security payments or third party obligations to their IBKR account.
FinanceFeeds –
ACH permits traders to join their IBKR accounts to their own bank accounts (s) and to move funds . Moreover, traders can link their account with mobile payment providers like PayPal or merchants, and pay subscriptions or other recurring expenditures such as a mortgage, car payment or utilities for some other entity using a financial institution on the community.

US clients who would like to use electronic transfers will need to first register in Interactive Brokers’ Integrated Cash Management program via the Transport & Pay Integrated Cash Management menu at Account Management or Client Portal. Once registered, traders can configure electronic transfers through the Transfer & Pay > Transfer Funds menu.

The article Interactive Agents makes electronic money transfers to third parties accessible to US customers appeared initially on FinanceFeeds.

Clients of the broker can utilize Integrated Cash Management by Interactive Brokers to make, borrow, spend and invest globally from one account. They’re also able to make market rate interest in their own idle accounts and extra income from lending their own fully paid shares, as well as borrow from their account at reduced, market-determined prices and use Interactive Brokers’ debit card to make ATM withdrawals or purchases globally.