Interactive Brokers Goes Live with J.P. Morgan on Request for Payment Service - BrokersView

Interactive Brokers Goes Live with J.P. Morgan on Request for Payment Service

Oct 21, 2021
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The leader in online trading Interactive Brokers has tied with J.P. Morgan, one of the oldest financial institutions in the US, to roll out Request for Payment, a real-time payment-related messaging service offered via The Clearing House RTP network.

Reportedly, the new launch enables investors to make instant deposits 24/7 to fund their brokerage accounts and commence trading immediately. It is designed to be a fast, transparent, and safe method of initiating payment requests which provides traders with an alternative to traditional money transfers that can take up to five business days to settle into brokerage accounts.

Also, with Request for Payment, customers are able to make deposit requests directly from their brokerage accounts. They can then authorize the payment from their mobile banking app or other bank portal and trade with the funds at Interactive Brokers at once. The new service will be available to US Interactive Brokers users with J.P. Morgan accounts first, then will be extended to other bank clients over the next few months.

"Interactive Brokers has its roots in technological innovation and Request for Payment is yet another example of how we offer clients advanced technology solutions to make it simple to fund and manage accounts," said Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers. "Both new retail investors and our active trader client base will certainly benefit from the flexibility to fund their brokerage accounts in real-time to trade the wide range of global and low-cost products available on the Interactive Brokers platform."