How To Deposit Funds To Interactive Brokers Fast & Easy

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Disclaimer: I am not a financial advisor. This video, and the ideas presented in it, are for entertainment/educational purposes only and should not be construed as financial or legal advice. You, and only you, are responsible for your investment decisions. This video, post & article should not be construed as investment advice. Capital at risk.
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🎥 In today's video, we're tackling the nitty-gritty of currency conversion and funding your Interactive Brokers account with the finesse of a financial maestro! 🎩💰
🌍 Sending Euros Across the Pond! 🇪🇺➡️🇺🇸
We'll kick off by converting those hard-earned Euros to mighty US Dollars. Watch the magic happen as I navigate the ins and outs of currency exchange with Revolut App without losing a cent more than necessary. It's about getting the biggest bang for your Euro! 💥💶
🔄 Revolut-utionize Your Transfer! 📲
Next up, we're revolutionizing the way you move money. I'll show you how to use Revolut's cutting-edge platform to seamlessly send your USD to Interactive Brokers. Say goodbye to outrageous fees and hello to more money in your market-moving arsenal. 💸👋
📊 Investing with Interactive Brokers! 🏦
Once the funds hit the account, we're not just stopping at a balance screen. I'll share some quick tips on how to best utilize your newly deposited funds in the investing playground of Interactive Brokers. Get ready to make your money work for you! 🛠️💼
#interactivebrokers #ibkr #revolut

[@SmartMoneywithKai]

Get started investing with Interactive Brokers🚀 My personal broker of choice where I hold the majority of my investments smartmoneywithkai.com/ibkr 🟡 JOIN MY SMART MONEY CLUB www.smartmoneywithkai.com/smartmoneyclub

[@saddreams3449]

Thanks for not being an a hole and actually went through each step! Much appreciated :)

[@SmartMoneywithKai]

😂😂😂Glad I am not😉 And you’re welcome 🙌

[@GROW_YOUTUBE_VIEWS_593]

I love your energy in your videos.

[@SmartMoneywithKai]

🙌

[@serhiirubets6630]

Thank you so much for this video. It was really useful and you covered all neccassary question for me. Thanks.

[@SmartMoneywithKai]

Awesome to hear that, many thanks and my pleasure 👋 Cheers

[@sandrodjorge]

Great video Kai! I believe that for you, Revolut ends up being more cheap because you have a paid plan. If you compare the standard Revolut account vs Wise, in my experience, deposit into IB via Wise ends up being more cheap

[@SmartMoneywithKai]

Thanks a lot Sandro, you are probably right, on the free Revolut plan it most likely will end up slightly more expensive, so if you are already using Wise a lot, it makes perfect sense to use it for that purpose too👌 Cheers

[@philippfuhrmann8400]

Hallo Kai, super Videos! Ich nutze nun auch Revolut um in USD bei IBKR einzuzahlen. Hast du in deinen Einstellungen als Basiswährung Euro oder USD? Was bewirken die Basiswährungseinstellungen?

[@SmartMoneywithKai]

Hallo Philipp, vielen Dank 🙌 Bei IBKR ist meine Basiswaehrung EUR obwohl ich langsam mal auf USD umstellen sollte, werd ich wirklich bald machen dann kann ich einfach meine EUR schnell einzahlen und dann via IBKR problemlos in USD umtauschen und mein main portfolio ist USD based, mach Sinn dann. LG 👋

[@Wantar]

I'm more interested in why I'm not getting dividends on IBKR. I got 1 or 2 O dividends, no SQM dividends, no MPW dividends and payment dates passed weeks ago. Does it take long for you too or is there something I'm doing wrong?

[@SmartMoneywithKai]

Most likely you got them, but after a while they move from dividend column to your cash on hand column on the dashboard, it's a bit confusing. But if you go into reports you can pull your dividend report and see if you were paid accordingly.

[@kwstasmisios7713]

Hi Kai, how much time does Revolut needs to send the amount? Also where do we write the payment reference? Under the Reference? Thank you

[@SmartMoneywithKai]

Hi there, as I understood from another subscriber who just wrote me now that unfortunately it seems Revolut does not support transfers anymore:( You could write to their support and see if for you it could still work🤞 Cheers

[@johnmknox]

It would be very interesting to know which brokers allow you to also withdraw the share certificates and how to do that through their websites or if you need to phone them.

[@SmartMoneywithKai]

Hi John, good question, never thought about it or had the need for it but know that Interactive Brokers allows share transfers in and out of the platform which is great👍

[@I.B1]

Hello, thank you for providing us valuable information. Interesting to know why do you transfer to US account? If you are living in Lithuania and are EU citizen, don't you get registered in EU branch (ussualy Ireland), then the bank of IBKR would be the German JPMorgan?

[@SmartMoneywithKai]

Hi and thanks for the great questions for the time being people in Lithuania and other parts of Europe, depending on your exact country have been registered, in the past were assigned to the Hungarian branch of Interactive Brokers. However, they have just announced that they will be merging with interactive brokers in Ireland, and therefore, in the future, all of those that were previously under the Hungarian branch will be shifted to the Ireland branch and once that's done, I understand I will be able to change my euros to dollars within the app and that would probably be the best way so once it's completed I will give it a go and give an update here in one of my videos. Cheers

[@I.B1]

@@SmartMoneywithKai Thank you for the detailed response. I have recently registered in the IBKR and the assigned branch was Ireland (I'm from Latvia). The exchange from EUR to USD is pretty good, I have compared the exchange rates to other places, and surprisingly IBKR had the best one.

[@SmartMoneywithKai]

@@I.B1 Awesome to hear that. Looking forward to be switched to Ireland too soon so will do the same as you💯

[@yuriypresnyakov1583]

Hi, what are you typing in revolut account details in the field "first and middle name" and "last name"?

[@SmartMoneywithKai]

Hi there, make sure you select business not individual at the top of that page, then it won't ask you for that, but instead for the company name. Cheers

[@antofitness3318]

Hey Kai. I would like to have your suggestion . All my stock are in dollar but my main currency is euro in my country . I have revolut free plan . What is better for me ? To sent euros in interactive brokers and change them there to dollars or to change them in revolut to dollars end sent them to broker ?

[@sandrodjorge]

In my experience, converting euro to USD via Wise and depositing with Wise onto IB ends up being the cheaper option.

[@SmartMoneywithKai]

Hi mate, if you can exchange your EUR to USD on Interactive Brokers, do it, very easy option and only costs USD 2 per exchange, irrespective of the amount. Just change your base currency to USD and you can do so. If your base currency is EUR sadly it won't let you, that's why I use the Revolut way. Cheers

[@SmartMoneywithKai]

Agreed, if you compared it with the Revolut free plan, on the paid, especially Ultra, in my experience Revolut was always cheaper, but we are really talking very small differences between each. Cheers

[@patriciagayle95]

hi Kai, how long does the deposit reflects on IBKR from Revolut?

[@SmartMoneywithKai]

Hi Patricia 👋 It depends which currency you sent. When I send EURO to my EURO based account it's there the same day or next day, in USD it take usually 2-3 days. Now I changed my base currency to USD, send EURO so it's there very fast and then use IBKR to exchange EUR to USD found that works best for me 👌 Cheers

[@capitanad]

Great Video! However, I am having trouble entering the details for the wire transfer as there is no IBAN specified with USD transfer in IBKR so I am unsure how to proceed as in IBKR it says to wire funds to IB Ireland so when I choose Ireland as a country it is asking for an IBAN. Can you make a video where you show in more detail how to deposit in usd from europe? Like which address and country to choose and so forth

[@SmartMoneywithKai]

Thanks a lot🙏 Just to clarify you are based in the US trying to send USD to IB in Ireland? Cheers

[@capitanad]

@@SmartMoneywithKai Hi Kai! Thanks for the reply. No I am based in Europe and trying to fund IBKR with USD from my USD revolut account via a wire/bank transfer. When I ask for details from IBKR for a USD wire transfer the page says - Wire to IBKR Ireland and then account and rounting number and then as address - JP Morgan Chase 383 Madison Ave, New York

[@SmartMoneywithKai]

Ah, I see, yes, use the US address, that's what I did and it worked for me. You can double check with them via support chat, but pretty sure it would be the same👌

[@capitanad]

@@SmartMoneywithKai Great, thank you so much. I Tried and it worked

[@SmartMoneywithKai]

@@capitanad Awesome to hear that🙌

[@alexanderpetrakiev5042]

Hi Kai, could you explain in a video how an EU person can buy NSE shares and which broker is best for this? Thanks, Alex

[@SmartMoneywithKai]

Hi there, NSE, you mean the Indian Stock Exchange or NYSE? Either way, both can be done via Interactive Brokers, made a few videos on it and a full tutorial. IBKR has probably the biggest variety of different stock exchanges globally. Cheers

[@alexanderpetrakiev5042]

Yes, Indian stock exchange I am talking about. On Etoro's list against the NSE stands that is restricted for Indian nationals, this is why I was asking. I have emailed Etoro twice on this matter, but no reply for now unfortunately. I will check interactive brokers. Thank you. 👍🏻

[@bavers]

Another good video, can I ask if you recommend a VPN? I understand you get one with the revolution Ultra plan, but is it a must for surfing the web? Can you do a video of your NordVPN experience? Thanks

[@SmartMoneywithKai]

Thanks a lot mate. In my eyes it's a must these days to protect anonymity and safeguard you from others checking your online activities. I used to have ExpressVPN for many years but now super happy with NordVPN, super fast, reliable and auto-connect even on mobile whenever I use it with wifi which is awesome. Will keep it in mind for future video ideas. Cheers

[@dkib2006]

With the standard plan can you send EUR to Interective Brokers free of charge?

[@SmartMoneywithKai]

Hi there and sadly not, unless your IBKR is in the same country of your residency, if not, then there will be a small transaction fee, but it usually is really very small. Cheers

[@nanno4494]

Can you make a video about withdrawing ? To revolut thank you

[@SmartMoneywithKai]

Hi there and will definitely keep that in mind for future videos, cheers🙌

[@luminitacapbatut9223]

Hi! Can we make the same transfer but instead of using Revolut to use paypal? Thanks.

[@SmartMoneywithKai]

Hi, never tired that, but just had a look online and saw that sadly this does not seem to be possible. Cheers

[@apapadogiannis]

Hi Kai, thanks for the great video! I am also a European investor using a lot IBKR with EUR as base currency. I normally transfer EUR to IBKR and then easily exchange them to USD within IBKR. Is there a downside to this?

[@SmartMoneywithKai]

My pleasure and great to hear that🙏 Nothing wrong with that at all, if that works for you perfect, I used to do it too, but now that my account is in EUR it sadly does not let me exchange to USD, I would need to change the base currency to USD first and then next day switch back which is cumbersome, that's why the Revolut option, otherwise I would do the same as you👍

[@apapadogiannis]

@@SmartMoneywithKai Thanks a lot for the reply. This is how I do it: Go to "Transfer & Pay" tab, click "Transfer Funds" and then "Convert Currency". It works fine with EUR as a base currency when you convert from EUR to USD.

[@SmartMoneywithKai]

Thanks for sharing, I did the same, but keep on getting this message 'Your account is eligible to upgrade to margin account.' So maybe you have a margin account?

[@apapadogiannis]

@@SmartMoneywithKai Thank you too for the information, this is interesting! I do not have a margin account, just a normal cash account. The only thing I can think of is that I am with IBKR Ireland while you are with IBKR Hungary (not for long though!). I am aware that they behave as different entities in some respects. HU is not in Eurozone whereas IE is, that might have to do with it.

[@SmartMoneywithKai]

​@@apapadogiannis That's a very smart point you made there, I really hope to have access to the feature as well once I'm changed to Ireland, because this would definitly be the easiest option for me too. Thanks for sharing🙌

[@misheckmande4401]

Is revolut can also working in Zambia also when it comes to deposit..

[@SmartMoneywithKai]

Hi mate, not sure, have a look here www.revolut.com/en-US/money-transfer/send-money-to-zambia/ Cheers

[@realnow2]

thx bro~!!!

[@SmartMoneywithKai]

My pleasure 🙌

[@ASMR-kl5mz]

What wise should personal or bussines?

[@SmartMoneywithKai]

For personal investments use Personal, that’s what I used 👌 Cheers

[@dkib2006]

Is there a cost to withdraw money from Interactive Brokers to Revolut account?

[@SmartMoneywithKai]

Hi there and no there isn’t any👌

[@sardortogayev777]

Hi Kai, I am right now in Latvia can I send money to my IBKR account right now. I mean is ti still available?

[@SmartMoneywithKai]

Hi Sardor, just thing, it absolutely works. BTW, we are neighbours, I'm in Lithuania Broliukas😉 Cheers

[@sardortogayev777]

@SmartMoneywithKai Hi Kai, Revolut asked me about Recipient's location but when I put the address to Revoult it showed a lot of addresses. U.S. BANK N.A. 800 Nicollet Mall Minneapolis 55402 United States This is addres which I should pay. Can you help me in this situation?

[@SmartMoneywithKai]

@@sardortogayev777 You are trying to send money from Revolut to IBKR? Make sure to select business not individual and then go to IBKR click deposit and it will show you the bank details. Depends which currency you want to deposit. EUR I remember was a German addresss and USD was a US based address. Cheers

[@lukaorlovic7629]

How to deposit on Ireland bank with Revolut?

[@SmartMoneywithKai]

Hi Luka, same principle, just follow the instruction on IB and bank details it give you and then send a wire, should be fast to Ireland👌

[@tonisantandreu1651]

Which is the difference between wire revolut and non wire revolut?

[@SmartMoneywithKai]

Hi there, note sure what you mean, all of them are wire, might just be my own nick-naming of the accounts. Merry Christmas🎅🎄

[@swaq8645]

Kodėl man 7 dienas siunčia iš revolut USD į ibkr ?

[@SmartMoneywithKai]

Hi, I don't speak LT but I guess you mean why it's blocked for 7 days? Make sure before you transfer you initiate the deposit on IBKR platform so they expect the exact amount coming, this should speed things up 👌

[@yutube5167]

ACH transfer is not the cheapest way?

[@SmartMoneywithKai]

It is pretty cheap, but this way is even cheaper 😉

[@H_ssan7861]

I need help I deposited ky whole bank account which was £9 and it says funds received but awaiting received and I used fast transfer which was meant to Be less than 2 and a half hours pls help

[@SmartMoneywithKai]

Hi and if they've been received that's good. If you did not inform IBKR of the deposit before it will take longer. It will be faster if you send the currency of your IBKR base currency. Cheers

[@H_ssan7861]

@@SmartMoneywithKai I did exactly that and still haven’t received it

[@SmartMoneywithKai]

@@H_ssan7861 Strange to hear, in this case best to reach out to their support to get it sorted out. Fingers crossed 🤞 Cheers

[@user-yn4wy7iq7s]

Is paypal also an option ?

[@SmartMoneywithKai]

Sadly not at this stage👍

[@amaros2118]

am Moroccan so suggest a best low fee deposit method on IBKR platform plz.. and i dont know how much my bank would charge me for that deposit.. tnku

[@SmartMoneywithKai]

Hi, probably the easiest and cheapest for you to do it through Wise 👌

[@swaq8645]

hi, what to write in company name?

[@SmartMoneywithKai]

Hi, just copy what IBKR gave you, as I remember it was the respective IBKR entity you are registered with 👌

[@Sam-pn2kc]

Now metal and premium get ultra subsctiptions now

[@SmartMoneywithKai]

Yea that’s awesome. Just made a video about it and will post it tomorrow. Makes it harder to decide which plan to go for😉

[@Sam-pn2kc]

@@SmartMoneywithKai revolut said they are making ultra even better

[@veggie-mannn]

Slow brokerage = NO for me 😂

[@SmartMoneywithKai]

IBKR is slow? What do you mean? It's literally one of the most used & largest brokerage for a reason 😉