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Citi - US Trading dividend fees

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  1. #41

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    Quote Originally Posted by shri
    Other than learning that the system is completely fragile and prone to mistakes (in this day and age!), did you actually learn anything that you can do the next time around to make the transfer go through at the first attempt?
    A few things.

    - On the Citi side, they still need the IB proof of incoming transfer, so I can generate that easily on the IB side on the day.
    - Again on the Citi side, as the transfer out is manned, I need to basically follow up with Citi, rather than leaving it to see where it goes. I had originally submitted the transfer request on 6 February, but they did not action it until 17 February (7BD after submission) and then it took them 5BD to actually do the transfer (so a total of 12BD).
    - On the IB side, its actually quite easy, you just need to create another transfer in request online.

    I guess its just a case of putting in the paperwork and following up.
    shri likes this.

  2. #42

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    Ok, matches an earlier experience we had with Saxo (receiving share TX).

    Their side was fairly automated and had an aggressive timeout which just did not match up with the form filling, faxing and other crap we had to do with another bank.

    pin likes this.

  3. #43

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    So submitted all my other positions for transfer today and also downgraded from Citigold to Citi Priority.

    Re-checked the IB situation and it says that after 5BD if the transfer hasn't occurred they will cancel the request. Citi have told me its going to take over a week.

    Based in this I'll follow up with Citi next week and see progress. I suspect I will have to submit another transfer request with IB. Luckily this only takes 5 - 10 minutes in total.


  4. #44

    Join Date
    Mar 2010
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    Quote Originally Posted by shri
    Other than learning that the system is completely fragile and prone to mistakes (in this day and age!), did you actually learn anything that you can do the next time around to make the transfer go through at the first attempt?
    That sometimes is out of your control.
    For example, with my bank in EU it's done by a dept that has no direct customer contact,
    on top of that they have made a typo in the account number at the receiving side.
    Conclusion, bring a lot of time with you
    shri likes this.

  5. #45

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    Just another data point, for IB transfer outs where the stock is listed outside of the USA you need to fill out a manual form and then email or fax it in. Could not find the IB charges for transfering shares out.


  6. #46

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    Quote Originally Posted by pin
    Could not find the IB charges for transfering shares out.
    pin it's here, in the middle of the page:

    https://www.interactivebrokers.com.h...ex.php?f=14718
    pin and shri like this.

  7. #47

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    Quote Originally Posted by pin
    So submitted all my other positions for transfer today and also downgraded from Citigold to Citi Priority.

    Re-checked the IB situation and it says that after 5BD if the transfer hasn't occurred they will cancel the request. Citi have told me its going to take over a week.

    Based in this I'll follow up with Citi next week and see progress. I suspect I will have to submit another transfer request with IB. Luckily this only takes 5 - 10 minutes in total.
    To update. The transfers went through to IB today. Still showing as processing on Citi, but on IB are showing as available and on my portfolio. Transfer fees have been taken out of my Citi account. That was very quick indeed this time round.
    shri and Kowloon72 like this.

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