While not avoiding fees related, I was in UB doing a USD T/T to IBKR this afternoon, how late… well they locked the door while completing the forms so around 3:30pm
Just got a notification at 6:38pm that the funds were received and available… damn that was fast
I recently made a transfer from HSBC tw to IBKR. I was changed $35USD on a $300USD transfer, not sure how the fees break down though.
I’ll use a different bank next time. Had anyone tried Richart?
How do you see how much IBKR charged Vs your bank?
I elected to pay all fees on the Taiwan side from my NTD account. So the full amount of USD was sent.
When the USD arrived in my IBKR account it was US$25 less than what was sent.
However, I have since found out that the US$25 was charged by the intermediary bank in the US (Citi bank if I remember correctly), not by IBKR.
yes, for each transfer you have to pay 3 banks.
(sending, intermediary, receiving)
the costs on the taiwan side seem to be fixed. eg. richart is 600 TWD.
intermediary bank and receiving bank fees both have their own charging structure. (maybe in percent and a maybe also a minimum charge)
in short: don’t transfer small sums, transfer a big sum at once.
the more you transfer at once, the cheaper it gets.
but still all in all for eg. 10k USD is about 0,6% fees.
Fidelity in the U.S. can buy/sell both TWSE and OTC stocks (IBKR only does TWSE stocks).
Disadvantage of Fidelity is you place order during U.S. hours and cannot change price during live market time of Taiwan. A bit cumbersome, but at least can buy/sell OTC stocks.
I’ll try Fidelity. Thanks.
Has any of the esteemed members of this community ever transferred AUD abroad (into an IBKR account in case it matters) from a bank in Taiwan? Is the process the same as for USD or EUR or are AUD considered Mickey Mouse currencies that cannot be transferred out of Taiwan directly?
Yup, works fine.
Do you know if the fees are higher if you transfer more money?
It is such a pain in the ass to transfer money I’m considering sending $12K-$13K once a year by wire transfer to IBKR to invest it.
To do it monthly, taking time off work and paying for fees doesn’t seem worth it.
Does an app like eToro cut this out since you can use a debit card and the fees are low.
For HSBC, the remittance fee includes a % of the total money being transferred, up to a certain fixed limit. I found there’s also a fee to receive (probably an intermediary bank taking a cut).
With HSBC, you just need set up the international transfer once at the bank. Then you can do the transfer online anytime using their internet banking website (but not phone app).
With HSBC you just open up account in USA as well and transfer everything for free.
Yes that is the ideal solution. Discussed here:
I believe that Mega Bank’s charges are tiered depending on how much you transfer. The charges I stated above would have been at the top of the range.
Same with me, no experience but I did the test in 30mins and got an account open.
Stupid question, but it annoys the heck out of me. In the IB app, on the portfolio tab, if l tap on a stock name, the small chart is shown. How do I close it without going to another tab? Can’t believe there is no easy way to do so.
This annoyed the hell out of me, too.
If you swipe down and release, the page will refresh and the small chart will disappear.