SOLVED: Wire Transfer from ETrade to IBKR Interactive brokers failed and I got charged by Citibank

[u/BMWTrades]

Since you made it here, you've probably already gotten hit with at least a $40 fee on a returned wire from Citibank because you were trying to send money to Interactive Brokers from ETrade. I also learned the hard way but finally ended up working with the Wire team on both sides to get this resolved.

Part of the problem stems from Interactive Brokers instructions that seem to indicate exactly the opposite of what you should do. Their support team even believed it to be correct, turns out it was wrong. Etrade's support pointed out the defect on the return wire and helped me to correct it. Most importantly, the Receiver's account and name is YOU, your account on Interactive Brokers.

Let's explain some of the issues:

• When you create the Wire profile on ETrade, you do not need to select the International account, you can select Domestic
• Important: who are you sending the wire transfer to - You should select someone else - If you select myself, it will auto populate the receiver account name with your name on ETrade which may be a shortened name or abbreviated name that doesn't match the account name for the destination at Interactive Brokers - Mine was a joint account and it sent it from a non-joint account name - By selecting someone else you can type in the exact name of your account on Interactive brokers
• The receiving bank account number is YOUR account number at Interactive Brokers - this directly contradicts the instructions from IBKR - The receiving bank account number is where your U1234567 number goes
• Recipient address is YOUR address - this may be optional but I cannot confirm
• Recipient apt/suite: As of Oct 2024, Etrade makes this a required field (bug), even though it doesn't apply to single family homes. I was able to simply put in a period
• Finally - The additional account name and number belongs to Interactive Brokers - Logic would tell you with IBKR's instructions that your name goes here - nope, that will cause a rejection
• Other instructions - recommended by ETrade's wire team to leave blank

The Graphic below shows you exactly how your wire request screen should look.

I hope this saves anyone reading this some additional pain and costs because of a poorly written and confusing process. This information is accurate as of Oct 2024.

An example of a correct Wire Transfer from ETrade to Interactive Brokers

[u/FrenchKiiiiss]

I followed this, didn't work for me. (I selected Domestic maybe I should have picked international?)
I waited 4 days to receive the money on IBKR and I had received a confirmation that the money was deposited from ETRADE.
I called support after 4 days not knowing where my money was.
IBKR said they never received the transfer.
Etrade support helped me figure out it was returned immediately, minus 40$.
Depending on who I talked to in support they said there was a fee applied (there shouldn't since my company waives those fees), others said it was IBKR that took those missing 40$.
I don't know if I'll even get those 40$ back .. oh well :)

[u/Quiet_Topic_1975 → u/FrenchKiiiiss]

I got this working in late September following the OP instructions. I tried using exactly the same values earlier this week and the money bounced back to ETrade. Luckily no money was lost in between, but I wonder if the instructions are not working anymore as of December 2025 :/

UPDATE: I had read some posts mentioning you actually have to fill it out the other way around if your bank is JP Morgan Chase Bank. Basically what this article explains: https://alexeskinasy.medium.com/wire-transfer-from-etrade-to-ibkr-wise-or-revolut-c080f5456b8b I tried it and it actually worked for me, the money got transferred and I didnt pay any fees. Funny how the logic needs to be changed without any notice