Borrow, Earn, Spend and Invest Worldwide - All from a Single Account
GREENWICH, CT, August 24, 2021 — Interactive Brokers Group, Inc. (Nasdaq: IBKR), a global brokerage firm, today announces the launch of the Interactive Brokers Canada (IB Canada) Prepaid Mastercard. The Mastercard expands the cash management benefits available to IB Canada clients, adding the ability to offset transactions against their IB account balances.
Currently, IB Canada clients can trade securities in over 135 global markets via powerful trading software at some of the lowest costs in the industry via Interactive Brokers’ Integrated Investment Account. IB Canada’s Prepaid Mastercard adds cash management benefits such as purchasing power and cash withdrawal to the full suite of benefits currently available to IB Canada clients.
"Interactive Brokers' advantage has always been our low cost, advanced trading tools, and breadth of product worldwide for sophisticated individual traders and DIY investors,” said Jean-François Bernier, Managing Director at Interactive Brokers Canada. "The IB Canada Prepaid Mastercard gives our Canadian clients a simple and flexible option for managing their finances."
Along with the Prepaid Mastercard, major benefits of the IB Canada integrated financial management account include:
* Interest is paid on balances exceeding CAD 10,000 and determined based on the current CAD benchmark rate.
IB Canada Integrated Financial Management account holders can access IB Canada brokerage account balances at a rate of CAD 1.63% or less -- which is lower than credit cards, personal loans or home equity lines of credit -- and avoid monthly minimum payments and late fees.
"Interactive Brokers not only lowers the cost of investing," added Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers. "Integrated cash management makes finances easier to manage, and the Prepaid Mastercard makes cash more accessible. If you want to borrow money against the securities in your account, you can withdraw cash or use your Interactive Brokers Prepaid Mastercard for any expense – from a cup of coffee to a car."
For additional peace of mind, the IB Canada Prepaid Mastercard offers clients the convenience of accessing account funds anywhere Mastercard is accepted around the world, all under the protection of IBKR Mobile’s security measures, including two-factor authentication, and with Mastercard zero liability protection.
The card program is administered by Interactive Brokers Canada Inc., the Program Manager of the Interactive Brokers Prepaid Mastercard. Interactive Brokers Prepaid Mastercard card is issued by Peoples Trust Company under license from Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Use of the card is subject to the terms and conditions of the applicable Cardholder Agreement and fee schedule, if any.
The Interactive Brokers Prepaid Mastercard is currently available to Canadian residents and is subject to terms and conditions and an application review. More information on the IB Canada Prepaid Mastercard, as well as rates, fees and how to apply is available at www.ibkr.ca/prepaidcard.
About Interactive Brokers Group, Inc.:
Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities, and foreign exchange around the clock on over 135 markets in numerous countries and currencies, from a single IBKR Integrated Investment Account to clients worldwide. We service individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Barron’s ranked Interactive Brokers #1 with 5 out of 5 stars in its February 26, 2021, Best Online Broker Review.
Contacts for Interactive Brokers Group, Inc.
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