MONEY GUIDE
How to fund Interactive Brokers from Europe: SEPA deposits, fees, timing, and common fails
Funding IBKR is simple when you do it like a bank transfer, not like an “app top-up”. This guide shows the clean SEPA workflow, what typically slows deposits down, and the failure modes that waste days.
Educational content only. Not personalized investment advice.
Deposit methods and fees can vary by IBKR entity and your bank. Always verify the latest instructions in your IBKR Client Portal before sending large transfers.
Disclosure: We may earn a commission if you open an account using our links. You do not pay extra.
Educational content only. Not personalized investment advice.
SEPA transfer checklist (copy before you send)
- Transfer type: SEPA Credit Transfer (EUR).
- Beneficiary: the exact name shown in IBKR deposit instructions.
- IBAN/BIC: copy from IBKR instructions (don’t reuse old details blindly).
- Payment reference: your IBKR account identifier exactly as instructed.
- Fees: choose “shared” (if your bank shows SHA/OUR/BEN options).
Most failed deposits are reference/beneficiary mismatches, not “IBKR issues”.
How long it takes
- Typical SEPA: same day to 1 business day.
- Common delays: first transfer checks, wrong reference, bank compliance review.
- Rule: send one clean test transfer first, then scale.
If your deposit fails: the 8 real causes
- Reference missing/incorrect.
- Beneficiary name doesn’t match IBKR instructions.
- Old IBAN/BIC used from a previous setup.
- Sender name doesn’t match your IBKR account holder name.
- Bank sent as international wire instead of SEPA.
- Compliance hold (first-time recipient / unusual amount).
- Intermediary fee option wrong (when your bank forces it).
- Deposit currency mismatch (sending non-EUR to an EUR-only route).
TL;DR (do this, avoid that)
Do this
- Use SEPA bank transfer for EUR funding (cleanest path for Europe).
- Create the deposit notification in IBKR first, then send the transfer.
- Send from a bank account in your exact legal name (name match matters).
- Copy the reference / memo exactly as IBKR instructs.
- First transfer: send a small test amount before large funding.
Avoid this
- Third-party payments (someone else’s bank account).
- Missing/incorrect reference (common reason deposits go “unmatched”).
- Assuming “commission-free trading” means FX is irrelevant.
- Funding in the wrong currency repeatedly (death by conversion friction).
- Relying on vague “instant” expectations (cutoffs and bank processing exist).
If you plan to buy USD assets long-term, your funding workflow and conversion choices can matter more than headline trading commissions.
Quick decision table (do this, skip that)
| Situation | Do this | Why |
|---|---|---|
| You’re in Europe, sending EUR | SEPA (EUR) | Cheapest/cleanest route for EU banks in most cases. |
| You don’t see SEPA as an option | Use the deposit method IBKR shows for your entity | IBKR wording/entities differ; follow the portal instructions. |
| First ever deposit | Send a small test amount | Verifies name/reference matching before large transfers. |
| Transfer not credited / unmatched | Check reference/memo + name match | Most delays are missing/wrong reference or third-party sender. |
| You’ll buy USD assets long-term | Fund in EUR → convert inside IBKR deliberately | Avoid repeated tiny conversions; use a repeatable FX workflow. |
| You’re tempted to use SWIFT | Avoid unless SEPA isn’t available | Intermediary fees and delays are more common with wires. |
Note: deposit methods vary by IBKR entity and bank. Always confirm the latest instructions in your IBKR Client Portal.
Step-by-step: fund IBKR via SEPA (Europe)
-
Confirm your IBKR entity + base currency.
Most European investors fund in EUR via SEPA, then convert inside IBKR when needed. -
Open IBKR Client Portal → Transfer & Pay → Deposit funds.
Choose Bank Wire / SEPA (wording varies by entity) and select the currency you’ll send. -
Create a deposit notification.
This generates/assigns deposit instructions and helps IBKR match your incoming transfer. -
Copy the beneficiary bank details exactly.
You’ll typically see: beneficiary name, IBAN, BIC/SWIFT, bank name/address, and a required reference/memo. -
Send a SEPA transfer from your EU bank.
Use a bank account under your exact name. Paste the reference/memo as required. -
Wait for the credit, then verify cash balance.
Once credited, you’ll see the cash in the selected currency. Keep the first deposit small until you confirm the pipeline works. -
If you need USD (or other currency), convert deliberately.
Don’t accidentally convert on every single buy. If FX matters to you, use a repeatable conversion workflow.
Fees: what you actually pay (and where costs hide)
For most European investors, the bank transfer itself is not the big cost. The hidden costs show up in: (1) your bank’s transfer fees, (2) unnecessary currency conversions, and (3) repeated small conversions.
| Cost area | What it looks like | How to reduce it |
|---|---|---|
| SEPA transfer fee | Often low or €0 at many EU banks, but not guaranteed | Use a bank with cheap SEPA; avoid “wire” routes when SEPA is available |
| Intermediary / SWIFT fees | Can appear when you use SWIFT wires (not typical for EUR SEPA) | Prefer SEPA for EUR; avoid SWIFT unless necessary |
| FX conversions | You pay via conversion pricing; the “how often” matters | Convert deliberately and consistently; avoid converting on every buy |
| Behavior tax | Over-trading and constant tinkering increases costs indirectly | Automate contributions; keep the plan boring |
Timing: how long SEPA deposits typically take
Timing depends on your bank processing, cut-off times, weekends/holidays, and matching. Treat these as realistic expectations:
- Best case: same-day credit if sent early and processed cleanly.
- Common case: 1 business day for normal SEPA processing and matching.
- Worst case: 2–3+ business days if cutoffs are missed, details are wrong, or manual review is triggered.
Weekends and bank holidays are the silent killers. “No update” often just means “not a business day”.
Common funding failures (and how to fix them fast)
Fail #1: missing / wrong reference (deposit not matched)
IBKR uses the reference/memo to match incoming funds. If it’s missing or mangled, the deposit can sit “unassigned”. Fix: resend with the correct reference or contact IBKR support with proof of transfer and the exact sending details.
Fail #2: name mismatch / third-party transfer
Transfers from someone else’s bank account are a common compliance trigger. Fix: only fund from an account in your legal name. If you used a joint account, ensure your name is clearly on it and keep records ready.
Fail #3: wrong currency / wrong route
Sending currency X to instructions meant for currency Y can cause delays and extra fees. Fix: use the deposit instructions that match your sending currency and method (SEPA vs wire).
Fail #4: deposit notification not created
Your bank transfer can still arrive, but matching is slower without a notification. Fix: create the deposit notification before sending. If already sent, create it immediately and ensure details match.
Fail #5: bank blocks / compliance questions
Some banks treat broker transfers as higher-risk. Fix: call your bank, approve the transfer, and keep the IBKR beneficiary details saved. If you keep hitting friction, change the sending bank.
Best practice: first deposit is a test. Once the route is proven, scale deposits with confidence.
Funding checklist (copy/paste into your brain)
- Deposit notification created in IBKR before sending money
- Correct currency + method selected (SEPA for EUR)
- Sending bank account name matches IBKR account name
- Reference/memo copied exactly as shown
- Small test transfer done once
- Plan for FX: convert deliberately (don’t “accidentally pay FX” repeatedly)
Disclosure: We may earn a commission if you open an account using our links. You do not pay extra.
CALCULATOR
FX drag calculator
Turn FX spread/markup into a long-run cost. Useful for non-US investors buying USD assets on a schedule.
Best when: you convert currency often, your broker hides FX markup, or you invest monthly.
Related guides (next steps)
Avoid repeated FX friction and convert deliberately.
Step-by-step buy flow, exchanges, order types.
Understand the structure constraints for EU residents.
Permanent drag beats hype; keep costs boring.
Compounding math behind small fees.
The hidden cost of currency conversion: spreads, repeated conversions, and “small %” leakage over time.
A practical model of “total drag” for non-US investors: UCITS vs US-domiciled ETFs.
Fees, safety, who it’s best for.
FAQ: funding Interactive Brokers from Europe
What is the best way to fund IBKR from Europe? +
How long do SEPA deposits to IBKR take? +
Why did my deposit fail or get delayed? +
Do I need to convert currency before buying USD assets? +
What is the safest first deposit strategy? +
Bottom line SEPA + correct reference + name match solves most funding problems. After that, optimize FX workflow.
Disclosure: We may earn a commission if you open an account using our links. You do not pay extra.
Educational content only. Not personalized investment advice.
Investments can lose value and past performance does not guarantee future results. You are responsible for your own decisions and for confirming tax, legal, eligibility, and fee rules with each provider.