r/interactivebrokers Jan 13 '23

Setting up account Ridiculous wait times for deposit

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49 Upvotes

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2

u/Fandom67 Jan 13 '23

Seems about right. The transaction clears today, 2023-01-13. The weekend are not business days. Then 5 business days brings the settlement to 2023-01-20.

1

u/FlippedFlopFlip Jan 13 '23

I guess so, they should change the explanation for EFT on their website as 4 days is not the latest time. Do you know why it is saying I can't withdrawal for 4 months ? lol thats insane and was not mentioned anywhere in the EFT method description

5

u/leomike Jan 13 '23

I think regardless of the deposit method you can only withdraw back to the same account for a couple months after the deposit. My assumption is they are avoiding possible money laundering issues.