confused12
Registered User
- Messages
- 41
I'm thinking of moving to IB
They will only refund MMF losses if your balance is below 2500€ and if your money is in the morgan Stanly MMF, not the fund share MMF.
If you are going to buy American equities the dollar-dominated MMF's dont lose money and make money if your trades are over 10,000 just manual transfer into USD. Or use a broker who will leave your money on deposit if it is in euro. Be aware small amounts manually transferred will be killed by the costs.
A significant point is. It will only take 48hours max, and most of the time, a bank transfer only takes less than 24hours to fund your account. So how quickly do you need to buy?
If it's quicker than that and you want to be a short term trader Degiro is not the broker for you.
About 5 euro.So if you had 10k sitting there for a month what would it likely cost you ?
About 5 euro.
Based on -0.6% rate. Actual rate changes daily.
If you dont know how to transfer 200k in one go with your bank. You have no business investing 200k all in one go in the first place.
It is about knowing how I'm afraid.
If you ever reach the hights of being a private banking customer you will see how limits are arbitrary numbers.
Until then simply walk into your local brach with ID and say you need to move the limit for transfers. If they believe your reason they will move it. It is that simple, so ya it is all about knowing how.
If it makes you fell any better, despite living in Ireland, and being a bloody good customer for BofI for ~30 years, I feel I can't contact them in person either!!Unfortunately some of us live overseas and can't access our trading bank in person.
We would like to update you about an important change regarding your DEGIRO account.
As an investment firm, DEGIRO is unable to hold clients’ money. Therefore, we currently make use of Money Market Funds (MMFs) as a solution for you to invest your unused money and as a way to make sure it is sufficiently safeguarded.
We are happy to inform you that we will soon replace the MMFs with a bank account solution from flatex Bank. This change means that we can then answer the frequent question “Does my unused money at DEGIRO fall under the €100,000 Deposit Guarantee Scheme?”, with a ‘’yes’’.
In a few weeks, we will begin to migrate clients to this new solution. We will inform you in due time to make sure you are aware of all conditions, changes and actions that are required. However, with this e-mail we would already like to communicate in short what you can expect and update you on related changes in the Client Agreement.
Your money will be kept with a bank
Although DEGIRO is not a bank, this does not mean we can’t team up with one. In flatex Bank, a regulated German bank, we have found the perfect partner. flatex Bank has €14 billion in assets under administration.
Your money will be held in a segregated personal Cash Account with your own new IBAN, guaranteed up to €100,000. Your new IBAN will be directly connected to your existing DEGIRO account. All you need to do is complete the online form that will be made available in the platform when you log in. It will not take more than a few minutes of your time. After you have completed this, you will receive your unique IBAN and additional instructions as to how deposits will work in the future.
Thought this was good news, but looks like balances over €2500 might still suffer charges.Email from DeGiro today below. The MMF thing must have been annoying lots of people....
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