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Add Bank Instruction

Home > Funds Management > Fund Transfers > Adding Bank Instructions

For some deposit notifications and cash withdrawals, you must create bank instructions. The Fund Transfers page lets you add, edit or delete a bank instruction for the following types of transactions:

         Wire - deposits and withdrawals

         ACH initiated by KW - deposits and withdrawals

         Canadian EFT initiated by KW deposit

         Canadian EFT withdrawal

         SEPA Initiated at KW withdrawal

         All recurring transactions

If you have not created any bank instructions, you will be unable to complete any of the transaction types listed above. For recurring transactions, you must first create bank instructions for the transaction types listed above, with the Frequency set to One-time (default).

To add a bank instruction

  1. Click Funds Management in the left pane, then click Fund Transfers.

  2. If the Secure Login System page opens, this means that your account is enrolled in the Secure Login System and you must use your security device to log into the Fund Transfers page:

  1. Enter your username, then click OK.

  2. Read the instructions on the screen carefully, then enter the response string from your security device or temporary password and click OK.

  3. In the Transaction list, select Deposit Cash or Withdraw Cash.

  4. In the Method list, select one of the following:

    • For deposits: Wire, Check, ACH Initiated At KW or Canadian EFT Initiated At KW.

    • For withdrawals: Wire, ACH Initiated At KW, Canadian EFT or SEPA Initiated at KW.

     

  5. In the Instruction list, select Add New Instruction.

  6. For Wire withdrawals, select an instruction type by clicking the appropriate radio button:

    • Bank Wire Transfer

    • Broker Wire Transfer

  7. Enter the following information:

    • For an ACH Initiated At KW deposit or withdrawal, enter information in the fields as described below:

      Field

      Description

      Recurring Transaction Fields

      In bank instructions for recurring ACH Initiated At KW deposits and withdrawals, the following fields appear:

               Recurring Transaction Name - Enter the name of the recurring transaction. This will appear in the drop-down list of recurring transactions.

               Sending Institution - automatically filled in based on the one-time transaction bank instruction.

               Amount - Enter the amount of the recurring transaction.

               Currency - automatically filled in based on the one-time transaction bank instruction.

      Create a nickname for this instruction

      Enter the name that will appear in the Please select list (list of available bank instructions) when you need to use the instruction for an ACH Initiated At KW deposit or withdrawal. The nickname must be between five and 25 characters long.

      Bank Country

      The country in which the bank is located.

      Currency of Bank Account

      The base currency of the bank account.

      Account Number at Your Bank

      Enter your bank account number.

      Re-enter Account Number for Confirmation

      Enter your bank account number again for security purposes.

      Do you have your bank's ABA Routing Number?

      Select Yes or No.

               If you select Yes, enter the ABA or SWIFT/BIC code, then click Continue.

               If you select No, enter the bank’s name, city and state, then click Continue.

      Your Bank's 9-digit ABA routing number

      Enter the ABA routing number for your bank.

      Your Bank’s Name

      This field appears only if you selected No in the “Do you have your bank's ABA Routing Number?” field.

      Enter the name of your bank, then click Continue.

               A screen appears with a list of banks that match the city, state and name you entered. Click the radio button in the Select column for the correct bank, then click Continue.

      Your Bank’s Location/City

      This field appears only if you selected No in the “Do you have your bank's ABA Routing Number?” field.

      Enter the city in which your bank is located.

      Your Bank’s Location/State

      This field appears only if you selected No in the Do you have your bank's ABA Routing Number?” field.

      Select the state in which your bank is located from the list.

      Type of Instruction

      This field appears only if you are requesting an ACH Initiated by KW withdrawal:

      Select one of the following:

               ACH Debit & Credit (Initiated At KW) - Select this option to create a bank instruction for ACH Initiated At KW withdrawals and deposits between your KW account and your bank account.

               ACH Credit Only (Initiated At KW) - Select this option to create a bank instruction for ACH Initiated At KW withdrawals from your KW account to your bank account.

      This bank instruction authorizes KW and your bank to electronically transfer funds. In one to three business days after you submit your new bank instruction, IB will verify your bank information by crediting two small test amounts and debiting one small equivalent test amount to your bank account. After you verify these test amounts, the instruction will be available for future ACH Initiated At IB withdrawal or deposit requests.

     

    • For a Bank Wire Transfer instruction, enter information in the fields as described below:

      Field

      Description

      Recurring Transaction Fields

      In bank instructions for recurring Wire Transfer deposits and withdrawals, the following fields appear:

               Recurring Transaction - Enter the name of the recurring transaction. This will appear in the drop-down list of recurring transactions.

               Amount - Enter the amount of the recurring transaction.

               Currency - automatically filled in based on the one-time transaction bank instruction.

      Create a nickname for this instruction

      Enter the name that will appear in the Destination list (list of available bank instructions) when you need to use the instruction for a bank wire transfer. The nickname must be between five and 25 characters long.

      Currency of Instruction

      Select the currency.

      Bank's Location/Country

      Select the country in which the bank is located.

      Account Number at Your Bank

      Enter your bank account number.

      Re-enter Account Number for Confirmation

      Enter your bank account number again for security purposes.

      Do you know your bank's SWIFT/BIC Code (ABA Routing Number for US Banks)?

      Select Yes or No.

               If you select Yes, enter the ABA or SWIFT/BIC code, then click Continue.

               If you select No, enter the bank’s city, state and name, then click Continue.

      Bank's ABA Number or SWIFT/BIC Code

      This field appears only if you selected Yes in the “Do you know your bank's SWIFT/BIC Code?” field.

      Enter the ABA or SWIFT/BIC code for your bank.

      Your Bank’s Location/City

      This field appears only if you selected No in the “Do you know your bank's SWIFT/BIC Code?” field.

      Enter the city in which your bank is located.

      Enter Bank’s Name

      This field appears only if you selected No in the “Do you know your bank's SWIFT/BIC Code?” field.

      Enter the name of your bank, then click Continue.

               A screen appears with a list of banks that match the city, state and name you entered. Click the radio button in the Select column for the correct bank, then click Continue.

     

    • For a Broker Wire Transfer instruction, enter information in the fields as described below:

      Field

      Description

      Recurring Transaction Fields

      In bank instructions for recurring Wire Transfer deposits and withdrawals, the following fields appear:

               Recurring Transaction - Enter the name of the recurring transaction. This will appear in the drop-down list of recurring transactions.

               Amount - Enter the amount of the recurring transaction.

               Currency - automatically filled in based on the one-time transaction bank instruction.

      Create a nickname for this instruction

      Enter the name that will appear in the Destination list (list of available bank instructions) when you need to use the instruction for a broker wire transfer. The nickname must be between five and 25 characters long.

      Currency of Instruction

      Select the currency from the list.

      Account Number at Your Brokerage Firm

      Enter your brokerage firm account number.

      Brokerage Firm's Name

      Enter the name of your brokerage firm.

      Brokerage Firm’s Location/Country

      Select the country in which the bank is located from the list.

      Brokerage Firm's Account Number at its Bank:

      Enter your bank account number.

      Note:    Your brokerage firm cannot receive funds directly and therefore maintains a bank account to which funds will be sent.

      Re-enter Account Number for Confirmation

      Enter your bank account number again for security purposes.

      Do you know your Brokerage Firm’s Bank’s SWIFT/BIC Code (ABA Routing Number for US Banks)?

      Select Yes or No.

               If you select Yes, enter the ABA or SWIFT/BIC code, then click Continue.

               If you select No, enter the bank’s city, state and name, then click Continue.

      Bank's ABA Number or SWIFT/BIC Code

      This field appears only if you selected Yes in the “Do you know your Brokerage Firm’s Bank's SWIFT/BIC Code?” field.

      Enter the ABA or SWIFT/BIC code for your bank.

      Brokerage Firm’s Bank’s Location/State

      This field appears only if you selected No in the “Do you know your Brokerage Firm’s Bank’s SWIFT/BIC Code?” field.

      Select the state in which your bank is located.

      Brokerage Firm’s Bank’s Name

      This field appears only if you selected No in the “Do you know your bank's SWIFT/BIC Code?” field.

      Enter the name of your bank, then click Continue.

               A screen appears with a list of banks that match the city, state and name you entered. Click the radio button in the Select column for the correct bank, then click Continue.

     

    If more than one bank meets the city and state you entered, you are prompted to select from a list of available banks. Click the radio button on the far right to select the desired bank.

    For example, the following figure shows an example of a list of available banks.

    • For a Check deposit or withdrawal, enter information in the fields as described below:

      Field

      Description

      Recurring Transaction Fields

      In bank instructions for recurring Wire Transfer deposits and withdrawals, the following fields appear:

               Recurring Transaction - Enter the name of the recurring transaction. This will appear in the drop-down list of recurring transactions.

               Amount - Enter the amount of the recurring transaction.

               Currency - automatically filled in based on the one-time transaction bank instruction.

      Create a nickname for this instruction

      Enter the name that will appear in the Please select list (list of available bank instructions) when you need to use the instruction for a check deposit or withdrawal. The nickname must be between five and 25 characters long.

      Bank Country

      The country in which the bank is located.

      Currency of Bank Account

      The base currency of the bank account.

      Account Number at Your Bank

      Enter your bank account number.

      Re-enter Account Number for Confirmation

      Enter your bank account number again for security purposes.

      Do you have your bank's ABA Routing Number?

      Select Yes or No.

               If you select Yes, enter the ABA or SWIFT/BIC code, then click Continue.

               If you select No, enter the bank’s name, city and state, then click Continue.

      Your Bank's 9-digit ABA routing number

      Enter the ABA routing number for your bank.

      Your Bank’s Name

      This field appears only if you selected No in the “Do you have your bank's ABA Routing Number?” field.

      Enter the name of your bank, then click Continue.

               A screen appears with a list of banks that match the city, state and name you entered. Click the radio button in the Select column for the correct bank, then click Continue.

      Your Bank’s Location/City

      This field appears only if you selected No in the “Do you have your bank's ABA Routing Number?” field.

      Enter the city in which your bank is located.

      Your Bank’s Location/State

      This field appears only if you selected No in the Do you have your bank's ABA Routing Number?” field.

      Select the state in which your bank is located from the list.

    • For a Canadian EFT deposit or withdrawal, enter information in the fields as described below:

      Field

      Description

      Recurring Transaction Fields

      In bank instructions for recurring Wire Transfer deposits and withdrawals, the following fields appear:

               Recurring Transaction - Enter the name of the recurring transaction. This will appear in the drop-down list of recurring transactions.

               Amount - Enter the amount of the recurring transaction.

               Currency - automatically filled in based on the one-time transaction bank instruction.

      Create a nickname for this instruction

      Enter the name that will appear in the Please select list (list of available bank instructions) when you need to use the instruction for a Canadian EFT KW deposit or withdrawal. The nickname must be between five and 25 characters long.

      Bank Country

      The country in which the bank is located.

      Currency of Bank Account

      The base currency of the bank account.

      Account Number at Your Bank

      Enter your bank account number.

      Re-enter Account Number for Confirmation

      Enter your bank account number again for security purposes.

      Do you have your bank's ABA Routing Number?

      Select Yes or No.

               If you select Yes, enter the ABA or SWIFT/BIC code, then click Continue.

               If you select No, enter the bank’s name, city and state, then click Continue.

      Your Bank's 9-digit ABA routing number

      Enter the ABA routing number for your bank.

      Your Bank’s Name

      This field appears only if you selected No in the “Do you have your bank's ABA Routing Number?” field.

      Enter the name of your bank, then click Continue.

               A screen appears with a list of banks that match the city, state and name you entered. Click the radio button in the Select column for the correct bank, then click Continue.

      Your Bank’s Location/City

      This field appears only if you selected No in the “Do you have your bank's ABA Routing Number?” field.

      Enter the city in which your bank is located.

      Your Bank’s Location/State

      This field appears only if you selected No in the Do you have your bank's ABA Routing Number?” field.

      Select the state in which your bank is located from the list.

      Type of Instruction

      This field appears only if you are requesting an EFT withdrawal:

      Select one of the following:

               EFT Debit & Credit - Select this option to create a bank instruction for EFT withdrawals and deposits between your IB account and your bank account.

               EFT Credit Only - Select this option to create a bank instruction for EFT withdrawals from your IB account to your bank account.

      This bank instruction authorizes IB and your bank to electronically transfer funds. In one to three business days after you submit your new bank instruction, IB will verify your bank information by crediting two small test amounts and debiting one small equivalent test amount to your bank account. After you verify these test amounts, the instruction will be available for future EFT withdrawal or deposit requests.

    • For a SEPA Initiated At IB withdrawal, enter information in the fields as described below:

      Field

      Description

      Recurring Transaction Fields

      In bank instructions for recurring Wire Transfer deposits and withdrawals, the following fields appear:

               Recurring Transaction - Enter the name of the recurring transaction. This will appear in the drop-down list of recurring transactions.

               Amount - Enter the amount of the recurring transaction.

               Currency - automatically filled in based on the one-time transaction bank instruction.

      Create a nickname for this instruction

      Enter the name that will appear in the Please select list (list of available bank instructions) when you need to use the instruction for a SEPA Initiated At KW withdrawal. The nickname must be between five and 25 characters long.

      Bank Country

      The country in which the bank is located. The drop-down list contains only those countries with participating SEPA institutions.

      Currency of Bank Account

      The base currency of the bank account.

      International Banking Account Number (IBAN)

      Enter the IBAN number.

      Do you know your bank’s BIC?

      Select Yes or No.

               If you select Yes, enter the BIC code, then click Continue.

               If you select No, enter the bank’s name and city, then click Continue.

      Bank’s Location/City

      This field appears only if you selected No in the “Do you have your bank's ABA Routing Number?” or “Do you know your bank’s BIC?” field.

      Enter the city in which your bank is located.

      Enter Bank’s Name

      This field appears only if you selected No in the “Do you know your bank’s BIC?” field.

      Enter the name of your bank, then click Continue.

               A screen appears with a list of banks that match the city and name you entered. Click the radio button in the Select column for the correct bank, then click Continue.

      Amount

      Fill in the amount of the withdrawal you want associated with the bank instruction.

     
  8. Verify that the information displayed on the screen, then click Continue.

    If you have your bank's information and it does not match the bank details displayed on the screen, click the click here link to display an empty form which you can fill in with your bank’s information.

  9. You are sent an email containing a confirmation number, and the Instruction Details page appears. This page displays the details about your Wire or ACH Bank Instruction.

  10. The Instruction Details page appears. Do the following on this page to complete your new Bank Instruction:

  • Enter your name in the Signature field. This is equivalent to signing the form.

  • Enter your Account Management username and password where indicated.

  • In the Confirmation Number field, enter the confirmation number that you received via email, then click Confirm Request.

    If you do not receive a Confirmation Number by email, please check your junk email folder as sometimes email filters block messages.

    Or click Resend Confirmation Number to receive another confirmation email.

View the status of your Bank Instruction on the Transaction History page.


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