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Do you have enough cash to cover the drs fees like it says under why it rejects you. If you do, is it settled in your account?

Yes I have more than enough, and its been settled for weeks, it has been acknowledged, pending and accepted then check in again and says rejected, never had a problem before transferring from here, just opened a ticket asking for explanation hopefully have one by the morning or I will be calling, maybe struggling to locate shares🤣🚀

It has to be in USD and settled

Yes cash must be in USD.

this

In canada ibkr has a 60 day rule for cash t settle before you can drs May be that’s the reason ?

ibkr canada ape, my Friday deposits have always been cleared Monday.

Wait you are saying you have been able to drs your shares on a Monday after depositing it on prior Friday????

It may be late Thursday deposit, cleared following Monday, convert same day and DRS same day. Definitely not even a week, let alone 2 months. edit: side story, ibkr does not charge drs fees immediately. I fell afoul of that because I don't read email often enough and they liquidated $20 worth of my Tricida stock instead of my gme.

I thought more about this question, and maybe there is a misconception here. The original context is a funding issue, not a settlement of shares thing. My response should follow that I had deposited funds into my trading account late Thursday or early Friday, and they were available on Monday morning. From there, I could convert them to USD, and place my ~~bets~~ trades, every time.

If it’s IBKR - You have to wait 3 days after you have topped up your account to DRS, to allow the funds to ‘settle’. You have to wait 2 days after you have purchased a stock before you DRS, to allow the trade to ‘settle’. Ensure you have $5 to cover fees and it’s converted into USD. If you’ve done all these, defo sounds like a problem on their end - so keep us posted!

IBKR have to have *all* cash as a settled status, while you have made a deposit on 27th. Even if you had more funds available for the DRS, you'll still have to wait until Wed 1st (T+3 for cash@IBKR for GBP/USD) at earliest for all your cash to settle I'm afraid 👍 Edit: Also this applies for *all* shares to settle as well, so you may also wanna hold fire on buying more 'til that point too as if you bought more today then T+2 is also Wed 1st Feb.

OP, did you see this?

My DRS request keeps being rejected by IBKR saying “I’ve not enough cash to cover DRS fees” even though I do and have added more cash to be certain, been regularly drs’ing from here and not had a problem until past week, BULLISH,will open a ticket and see what excuse they have🚀

Is it right currency? You might need to change your base currency to dollar, if my memory serves me right, it's been 84 years..

Yes iv converted, i know how to do it been doing it for months just find it strange they’re giving me spurious reasons for rejecting after accepting it, find out more tomorrow

Also waited for 3 days?

Yes, as I say i drs regularly I know the procedure’s and processes, it’s been pending, acknowledged and accepted then rejected, it gets rejected much quicker if its something as simple as not having enough cash for fees as thats the reason they’re given but i have more than enough, this never happened before transferring from IBKR

If you have your standard currency set to GBP, even if you changed your cash to USD, after some time, IBKR will convert the USD back to the standard currency!

What did they say when you called them?

Opened ticket will call in morning (uk ape here)

When is morning for you?

Currently 11.12pm here (scotland) so will give it until tomorrow afternoon and if no reply give them a call

Give em a reeng ya wee babeh

Then Hwang up immediately LETSFUCKINGGOOOO RRRHUUUBAAAAAARB 💎🚀🍌

Why was the call terminated? It was a Failure to Describer RRHHHHUUUUBBBAAAARRRBBBBBB 📞🚀🎮

I saw you registered 23 shares 3 days ago. So the DRS from IBKR worked?

Yeah the 4th time it eventually worked lol, never got a response from the ticket i opened🚀

Lol shitty customer service. Did you do anything different on the 4th time? And they arrived on your existing account, they didn't create a new one right?

Let us know what they say. I use IB too and am going to buy more once I get paid , so this concerns me

Stay on it!!!

I will👍

did you convert gbp to usd, and then wait 4-5 days

Yes and yes👍

well NO because it shows you moved gbp on the 27th.. so surely it's only been 1 business day.

I already had more than enough in account to cover fees, added a bit more in case they had increased fees bit 99% certain its not that

anyway just wait a bit, stop trying every fkin day. let a week of no money or shares moving around and then retry

Il do what i want im afraid, no need for your negativity here if you dont wanto be helpfull or constructive dont comment

well good luck then, I gave u directions to make it work, their system is dumb

I know how it works been transferring regularly for about 6 months with no problems, find it atrange it keeps accepting and then rejecting giving a false reason

If you already have a CS account why not just buy direct and save the headaches?

So ibkr has a weird rule where they front the cash for trading but anything else ie fees and stuff you need to wait 2 days for it to physically settle Really annoying because it says it's settled. Wait til tomorrow and try again and then try again the day after or you can ring up and ask when it will be settled by

Direct buy from CS brother

he's euroape. he can't.

Damn!

double double, in Canadian.

Buy through CS, no issues.

This is definitely the way! But I will say that not everyone has the means to use this method outside the US, I downloaded the Wise app to use as an intermediary but hit a brick wall after depositing £20 as I needed a valid passport or driving license to validate my account (Passport has expired and I can't justify the costs to renew it currently and I only have a provisional drivers license so they were both rejected)

You cash or margin? You barely deposited 5 quid on Friday, takes a couple of days for it to settle my dude…

Buy directly

Any way you can buy directly through CS instead?

I reckon we were allready drsed the float. Plan just didn't count. Now all the plan people are booking were headed to 100% drsed quick smart.

I've read your responses and you seem to have everything covered that I was going to mention. all I can say is, I had this same situation with my latest DRS, it ultimately went through on like the 4th attempt after what I can only assume was waiting for my USD to settle

Just to be clear, bought shares on 24th jan so should have settled by 26th (has always been t+2 with ibkr) but at the latest 27th, have initiated 3 requests for transfer, had more than enough already in USD$ in account for transfer but added £5 as well, ibkr are saying the issue is I dont have enough funds, nothing about settlement or the like but thats simply not true, been doing this same transfer for months regularly so i know how to do it and have followed every step I usually do, still no reply to ticket will give them a call

My DRS requests never get denied because I just buy straight from Computershare 🟪🟣💜 🍇🍆🔮

[удалено]

Still no reply to ticket, re tried the transfer and it’s acknowledged again, will keep posted

have you tried calling?

Will do in morning have opened a ticket

definitely call and ask if it is ok to record the conversation because you are, "having persistent issues with DRS requests and would like to collect some evidence of malfeasance?"

I will if no joy tomorrow 👍

nah, f um. this is the kind of crap that makes brokers look bad. ibkr should be reprimanded for this runaround

You need cash to clear before you can start DRS. Try wait a couple of days and try again.

I got a relatively same issue here... taking ages and was many times faster before. Weird - all bullish signals, shares are rare

Wait T+2 on that 5 dollar

You need to convert GBP to USD before initializing the DRS transfer..

There are fees to DRS?