Withdraw Funds to a Third Party (2024)

• Individual, Joint and Trust accounts. Specifically, the primary account holder and any account user granted Funding access rights in an Individual account, either account holder in a Joint account, and any trustee in a Trust with Funding access rights are allowed to enter third-party withdrawal payee information and initiate third-party withdrawal requests.
• IRAaccounts. This is usually used to facilitate the completion of Qualified Charitable Distributions (QCDs) and IRATransfers Out to non-ACATS participant firms.
• Advisor accounts. A Registered Advisor is allowed to enter third-party withdrawal payee information for a client if the client has approved additional authorizations for the Advisor. Registered Advisors can use third-party withdrawal information that has been entered by a client to initiate a third-party withdrawal for that client. Clients of Registered Advisors can enter third-party payee information and initiate third-party withdrawals .
• Proprietary Trading Account STL Master Users and Organizational Accounts. However, third-party withdrawals are NOT allowed to officers, traders or owners or the proprietary trading group organization. Specifically, the Master User and any account user granted Funding access rights are allowed to enter third-party withdrawal payee information and initiate third-party withdrawal requests.
• Hedge Fund accounts. Hedge Funds may request third-party withdrawals to vendors and administrators but NOT to individual investors in the fund or to the Fund Investment Manager. Specifically, the Fund Investment Manager and any account user granted Funding access rights are allowed to enter third-party withdrawal payee information and initiate third-party withdrawal requests.
• Introducing Broker accounts. Specifically, the Broker Master User and any account user granted Funding access rights are allowed to enter third-party withdrawal payee information and initiate third-party withdrawal requests.

The following accounts are NOT eligible to withdraw funds to a third party:

• Master and client accounts under an unregistered Advisor account (Family Advisors, Non-Professional Advisors account with an unregistered Advisor)
• IRA accounts
• Omnibus Broker accounts

1. Click Transfer & Pay > Transfer Funds.
   • Alternatively, click Menu in the top left corner > Transfer & Pay > Transfer Funds.
2. If you have multiple accounts or account partitions, or if you have a master account and you manage one or more client or sub accounts, the Account Selector opens. Select the account you want to use for this transaction, or use the search function in the Account Selector to find the desired account. Click continue to submit your account selection and close the Account Selector.
3. In the Transaction Type list, select Make a Withdraw.
4. In the Currency list, select the currency of your withdrawal.
5. In the Method list, select Bank Wire.
6. Complete the fields in the Bank Information section:
   • Enter a name for the bank information (it will be saved under this name).
   • If you are sending the funds to a bank, select the country where the bank is located (Bank Country), and then enter your account number at the bank twice.
   • If you are not sending the funds to a bank, select no, and then complete all of the fields.
7. As soon as you select the Bank Country, the Receiving Bank section appears. Click Search in this section to search for your bank.
   • In the Bank Search pop-up, you can search by ABA (routing) number or by bank name. By default, "Search by bank name?" is set to No, which allows you to enter a routing number and search for your bank that way. Select Yes to search by bank name, and then complete the form and click Search.
   • A list of all banks along with their routing numbers appears. Select your specific bank. Information for the bank you select will be entered into the Bank Information section of the Fund Transfers screen for your transaction.

   Note: For third-party withdrawals that are intended for the bank of a third party payee, you will want to enter information about that bank, not your bank.

8. In the Third-Party Recipient section, set "Is the recipient someone other than the account holder?" to Yes, and then enter information about the third-party payee in the fields that appear.
9. Click Continue to submit the third-party payee information to us for approval.

   You will be notified when we approve the information.

1. Click Transfer & Pay > Transfer Funds

   • Alternatively, click Menu in the top left corner > Transfer & Pay > Transfer Funds.

2. If you have multiple accounts or account partitions, or if you have a master account and you manage one or more client or sub accounts, the Account Selector opens. Select the account you want to use for this transaction, or use the search function in the Account Selector to find the desired account. Click Continue to submit your account selection and close the Account Selector.

3. In the Transaction Type list, select Make a Withdraw.

4. In the Currency list, select the currency of your withdrawal.

5. In the Method list, select Check.

   • In the Mail a check to section, select Send to another person/entity in the Recipient drop-down menu.

   • Complete the fields in the Third Party Payments section:

   • In the Country drop-down menu, Choose Country for the mailing address country.

   • Enter the recipient's mailing address.

6. Enter your relationship to the third-party payee and the reason in the field that appears

7. Click Continue to submit the third-party payee information to us for approval.

8. You will be notified when we approve the information.

After a due diligence review, IBKR may allow withdrawals to a third party for purposes like:

• Withdrawal for purchase of a home or mortgage payoff

• Withdrawal to a spouse, parent, sibling, or child of source account holder

• Withdrawal to an account held by one of the account holders of a joint account or vice versa.

• Withdrawal from trust account to a beneficiary

• Payment of certain account expenses

• Tax payments

• IRA qualified charitable distributions

IBKR will generally not approve the following types of third-party withdrawals:

• Private investments

• Repayment of loans

• Withdrawals to companies owned by the account holder

• Payment for purchase of goods or services

• Withdrawals to individuals other than spouse, parent, sibling or child of account holder