When depositing funds into your Tiger Brokers account, it’s crucial to know that Tiger Brokers only supports deposits from bank accounts registered in your own name. This ensures security and compliance with financial regulations.
What Does This Mean?
No Joint Accounts: Tiger Brokers does not allow deposits from joint bank accounts. If you share a bank account with someone else, even if it’s partially under your name, it cannot be used to fund your Tiger account.
No Third-Party Deposits: Similarly, deposits made from someone else’s bank account, whether it’s a friend, family member, or any other third party, will not be accepted. This rule applies strictly to prevent potential misuse or fraudulent activity.
Third-Party Platforms
Besides bank accounts, Tiger Brokers also does not accept funds deposited via third-party payment platforms like: Google Pay, PayLah, GrabPay, and Checks. However, Wise (formerly TransferWise) is supported if linked directly through the Tiger app.
What Happens If You Use These Methods?
If you accidentally make a deposit using any of the unsupported methods, your funds will be refunded, but this process may take some time:
Standard Refund Time: 2-4 weeks
Refund for Third-Party Platforms: 6-8 weeks
Keep in mind that any bank charges incurred during the refund process will be your responsibility. This means the final refunded amount may be less than what you initially deposited, depending on your bank’s fees.
How to Ensure Smooth Deposits
To avoid unnecessary delays or fees, always ensure that:
The bank account you use for deposits is in your own name and matches the account details registered with Tiger Brokers.
You avoid using any third-party platforms or joint accounts to fund your Tiger account.
Conclusion
For seamless deposits into your account on Tiger Brokers, a broker online, only use a bank account under your own name. Deposits from joint accounts, third-party accounts, or unsupported platforms will lead to delays and additional costs, with refunds taking anywhere from 2-8 weeks to process.
