Is it possible to move cash from TD Ameritrade to Interactive Brokers?

Question

If I have cash to move, do I have to use a bank account between my brokerage accounts

or it it possible to move cash from TD Ameritrade to Interactive Brokers?

Answer 1

Nearly all brokers offer checkbook access to your brokerage account. Therefore many people don't have checking at a traditional bank. IB should be able to provide the online paperwork to move money from an external account. Typically the receiving broker is more easy to work with that the brokers losing the deposit.

Answer 2

Hover the mouse over MY ACCOUNT. A sub menu opens. Under DEPOSITS AND TRANSFERS, click on WITHDRAW. You will see:

1. Transfer money to your bank (ACH) 1-3 business day

2. Wire transfer 1 business day

3. Check withdrawal 2-5 business days

Select WIRE TRANSFER

Under TO OUTBOUND WIRE CONNECTION, select CREATE OUTBOUND WIRE CONNECTION and follow the instructions to establish the link. There may be a fee. If so, you can avoid it by sending the money to your bank (ACH) and then from your bank to IBKR. Also, check out what IBKR allows.