Once your IBKR account is approved, you need to fund your account before you can buy anything. You can fund IBKR directly either from BIBD or Baiduri using a standard telegraphic transfer (TT). Some Bruneians use Wise or MoneyMatch to fund their IBKR account. I am not entirely sure about the full process yet for Bruneians — let me know if you’ve done this and I’ll update the guide.

This guide walks you through the entire process — from notifying IBKR to making the transfer from your local bank.

How Does It Work?

IBKR’s bank account is held in Singapore, under CitiBank Singapore. Since BND is pegged 1:1 to SGD, your bank treats it as an SGD remittance. You send BND, it arrives as SGD. No currency conversion is typically needed on the Brunei side.

The process is straightforward:

1. Tell IBKR you’re about to send money (deposit notification)
2. IBKR gives you their bank details and a unique reference number
3. You go to your Brunei bank and make a telegraphic transfer using those details
4. Money arrives in your IBKR account within 1–3 business days

What It Costs

Your bank charges fees for outward telegraphic transfers. Unfortunately, there is no way around these fees. Local banks in Brunei typically charge a higher prices when done over the counter, compared to doing it online. Here’s what you’ll pay from the Brunei side if OUR is selected (you pay all fees):

For larger transfers, the CILE matters more. On a B$5,000 transfer via Baiduri b.Digital, the CILE alone is B$10 (the minimum). But on a B$20,000 transfer, it’s B$20 (0.1%). However, BIBD online waives this entirely regardless of amount, so BIBD may be cheaper for larger sums.

Luckily! If you select Beneficiary (BEN), IBKR will only charge you SGD35. In total, you will have to pay approximately $35.10. This is the cheapest option that i would recommend.

Before You Start

You’ll need:

• A fully approved IBKR account
• BIBD Online Banking or Baiduri b.Digital Personal set up and working
• Your bank account must have the Telegraphic Transfer feature enabled
• Enough balance in your account to cover the transfer amount + bank fees

Step-by-Step: Notify IBKR of Your Deposit

Before you touch your bank app, you must notify IBKR first. This is how they know to expect your money and match it to your account.

Step 1 — Log Into the IBKR Client Portal

Go to IBKR Client Portal and log in. You can also do this from the IBKR mobile app.

Step 2 — Create a Deposit Notification

On Desktop, click on Deposit located on the left sidebar. Else, navigate to Transfer & Pay → Transfer Funds → Deposit Funds.

Step 3 — Select a new deposit method

Click on Use a new deposit method.

Step 4 — Deposit Method

There are multiple options to fund your account. But for this tutorial, select Bank Transfer. Additionally, don’t forget to select SGD as the currency since you’re sending BND which will be treated as SGD.

Step 5 — Enter amount

Enter the amount you plan to transfer.

Step 3 — Get the Bank Details

Click Get Instructions. IBKR will show you their receiving bank details, including:

• Beneficiary Bank Name & Address — the Singapore-based bank holding IBKR’s SGD account
• SWIFT/BIC Code — you’ll need this for the TT
• Virtual Account Number (VAN) — This is your Bank account number with IBKR
• Beneficiary Name & Address — This is the IBKR’s company name and address
• Payment Reference (SUPER DUPER IMPORTANT) — a unique reference number tied to your IBKR account

Keep this page open or screenshot it. You’ll need these details when filling in the TT form on your bank’s side.

Funding via BIBD

Step 1 — Log Into BIBD Online Banking

Go to BIBD Online Banking and log in with your credentials.

Step 2 — Go to Telegraphic Transfer

Since you are going to do this regularly, it’s best to set up IBKR as a favourite beneficiary in BIBD. This way, you can select it easily for future transfers without re-entering all the details.

Navigate to Transfer Services Outside Brunei → Maintain Favourite T/T Beneficiary.

Step 3 — Fill In the Beneficiary Details

Enter the following details from IBKR’s deposit instructions:

• Beneficiary Profile Name — This is just a nickname for your reference. You can put “IBKR” or “Interactive Brokers” here.
• Beneficiary Full Name & Address — IBKR Company Name + Address from the instructions
• Account Number / IBAN Number — Enter Virtual Account Number (VAN) provided by IBKR
• Beneficiary Bank — search using the SWIFT/BIC code IBKR gave you
• Beneficiary Identification No. — paste your IBKR Payment Reference here. Very Important.

Step 4 — Fill In the Transfer Details

Head to Transfer Outside Brunei (T/). Select the IBKR beneficiary you just created. Select SGD as the currency and enter the amount you want to transfer (in BND, which will be treated as SGD).

Step 5 — Review and Submit

Double-check everything — account number, SWIFT code, reference number, amount. Once you confirm, BIBD will process the transfer.

Your transfer should arrive in IBKR within 1–3 business days. BIBD processes TTs during business hours on weekdays. If you submit after the cut-off time or on weekends, it will be processed the next working day.

Funding via Baiduri

Step 1 — Work in Progress

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Want to know what to actually buy once your account is set up? Check out Part 3 — How to Actually Buy Stocks and ETFs on IBKR

FAQ

1. How long does the transfer take?

Typically 1–3 business days. Transfers submitted after cut-off times or on weekends/public holidays will be processed the next working day. IBKR also takes some time on their end to credit the funds once received.

2. Can I send USD directly from my Brunei bank?

You can, but it’s not worth it. Your bank’s USD exchange rate will be much worse than IBKR’s. Send BND as SGD, then convert to USD inside IBKR using IDEALPRO. You’ll get a near-spot rate and save on the spread.

3. Is there a minimum deposit for IBKR?

There is no minimum deposit for a standard IBKR cash account. You can send as little or as much as you want. Just keep in mind that the TT fees are fixed — sending B$100 with B$45 in fees is a 45% overhead. It makes more sense to batch your deposits (e.g. monthly or quarterly) rather than sending small amounts frequently.

4. My transfer hasn’t appeared in IBKR after 3 days. What do I do?

First, check that you included the Payment Reference in your transfer. If you did, log into IBKR and check Transfer & Pay → Transaction History for any pending deposits. If nothing shows up, contact IBKR support through the Client Portal — they can trace the transfer using the reference number. Also check with your bank to confirm the transfer was actually sent and not held for review.

5. Can I fund IBKR from TAIB or Standard Chartered Brunei?

Yes, the process is the same — any bank in Brunei that offers outward telegraphic transfers can send money to IBKR’s Singapore bank account. The fees will differ, so check your bank’s tariff schedule.

6. Do I need to notify IBKR every single time I deposit?

Yes. Create a new deposit notification each time before you transfer. IBKR uses the notification to match incoming funds to your account. Skipping this step can delay your deposit significantly.