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Interactive Brokers Debit MasterCard linked to Brokerage account
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Interactive Brokers Debit MasterCard linked to Brokerage account

  #41 (permalink)
Elite Member
London + UK
 
Futures Experience: Advanced
Platform: Proprietary Analytics
Broker/Data: Multiple broker + Multiple feed
Favorite Futures: Currently European and US equities
 
sands's Avatar
 
Posts: 434 since Dec 2013
Thanks: 229 given, 209 received

A lot of mid sized financial services are able to repackage credit/debit card services like this from one of big card providers. It's exactly for client retention through creating depth of offering (as someone has already said).

Security is my concern, as much as we might not lose our cards or data anything out of your control has the scope to be mishandled. Having worked at some of the big firms I wouldn't put it past them losing secure information of any sort either my negligence or with intent. However let's assume that nothing get's lost and it's secure, there certainly is an appeal to those customers that want to expedite access and limit fees associated with traditional transfers especially cross border. But really any layered transaction like this on credit card basis at least is only going to be offered above cost so really what you pay is unlikely any real saving, for the firms providing this kind of service it can be a nice little earner.

Thus imo the bottom line is whether its convenient to you and you're happy with the security.

I prefer same day transfers - liquid enough for me and secure (touch wood).

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  #42 (permalink)
Elite Member
Ottawa canada
 
Futures Experience: Advanced
Platform: nt8,tws
Broker/Data: Interactive Brokers, CME EQUOTES
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RossMurray's Avatar
 
Posts: 3 since Jul 2017
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USA ?


GFIs1 View Post
One does not need to withdraw - waiting for the amount hours or days and then transfer it
from the bank account to the credit card - way too long.
What I did not read from the announcement - can you get such a debit card (Mastercard)
worldwide or just US habitants only.

GFIs1

You have to be a US Resident to have one of these but I asked and was told that they plan to offer to Canadian residents later this year

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  #43 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
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Posts: 4,402 since Feb 2012
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Europe...


Asked the European HQ of IB

Answer:
"still not available now in Europe".
Asking for by when: "not very soon..."

Now we know

GFIs1

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  #44 (permalink)
Trading Apprentice
Chicago IL/USA
 
Futures Experience: Advanced
Platform: Sierra, NT, TS, IB
Favorite Futures: ES, TF,QC
 
Posts: 23 since Jan 2012
Thanks: 59 given, 9 received

I got it.
They do have a limit to help with protection. See below.

"Pre-authorization helps us prevent fraudulent use of your card by allowing you to inform us several minutes before making a purchase of $1,000 or more with your Debit Mastercard. Pre-authorization is easy and takes only a few seconds on IB Key"

Edit to include Debit Card FAQs
http://tinyurl.com/ybywuhuu

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