About the Video
In this video, I will show you the cheapest way to fund your Interactive Brokers (IBKR) account from anywhere in the world, using Wise ACH Transfer, as well as comparing the cost savings of this method against the Wise + CIMB SG method.
🔵𝗚𝗲𝘁 𝗙𝗥𝗘𝗘 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿 𝘄𝗶𝘁𝗵 𝗪𝗶𝘀𝗲 (𝘂𝗽 𝘁𝗼 𝗥𝗠 𝟮,𝟱𝟬𝟬) ➡️ Click Here
🔴Learn more about Interactive Brokers (IBKR): Click Here
🔴Wise Multi Currency Account (video guide): Click Here
🔴Open your IBKR account (video guide): Click Here
⬇️Timestamps:
0:00 Intro
0:35 Prerequisites
1:17 Step 1 – Obtain IBKR transfer instruction
2:24 Step 2 – Fund Wise Multi Currency Balance
3:49 Step 3 – Direct ACH Transfer (from Wise to IBKR)
7:06 Cost Savings (Wise ACH vs CIMB SG)
9:59 Important Takeaways (must note!)
The Wise multi-currency account is a great option if you live abroad or travel frequently, because its foreign transaction and conversion fees are lower than what many companies charge. It’s also convenient if you work for a company that pays you in a different currency than you use, or if you send or receive money from people who live in other countries. On top of that, you can hold more foreign currencies (i.e. USD, GBP, Euro, SGD, etc.) which are historically better than MYR due to the stability of those currencies!
On the Wise website, see how much you’ll pay in fees to send money to another person. The total amount depends on the currencies and payment methods (for example, a direct deposit vs. wire transfer). You’ll also see the Wise fee, which includes both foreign transaction and conversion fees. Wise tells you when the money will arrive in the other account and lets you compare fees to other currency transfer services so you can see whether you’re getting the best deal.
Look no further, you will save A LOT if you fund it via this way as compared to Foreign Telegraphic Transfer (FTT) from your local banks.
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Disclaimer: This content is provided by a paid Influencer of Interactive Brokers. Influencer is not employed by, partnered with, or otherwise affiliated with Interactive Brokers in any additional fashion. This content represents the opinions of Influencer, which are not necessarily shared by Interactive Brokers. The experiences of the Influencer may not be representative of other customers, and nothing within this content is a guarantee of future performance or success.
None of the information contained herein constitutes a recommendation, promotion, offer, or solicitation of an offer by Interactive Brokers to buy, sell or hold any security, financial product or instrument or to engage in any specific investment strategy. Investment involves risks. Investors should obtain their own independent financial advice and understand the risks associated with investment products and services before making investment decisions. Risk disclosure statements can be found on the Interactive Brokers website.
Interactive Brokers is a FINRA registered broker and SIPC member, as well as a National Futures Association registered Futures Commission Merchant. Interactive Brokers provides execution and clearing services to its customers. For more information regarding Interactive Brokers or any Interactive Brokers products or services referred to in this video, please visit www.interactivebrokers.com.
