Interactive Brokers (NASDAQ: IBKR) has launched its own debit cards in association with Mastercard. This card will add to the convenience options for clients.
With this launch of new debit card facility, the company wants to provide single point access to all financial needs to its customer.
The new debit card will allow investors to withdraw cash from ATMs and make purchases at Mastercard-enabled outlets worldwide against the cash balance held in their accounts. The new debit card will be available to US residents and joint account holders with cash or margin accounts, as well as to advisors and brokers.
Interacted Brokers also allows investors to borrow against fully paid shares held in their accounts at an annual rate of 1.41 – 2.66 percent, earn market interest in idle cash balance and earn extra by lending their fully paid shares. It also allows customers to invest in stocks, options, futures, forex and bonds on over 100 global exchanges at a lower cost.