Moving RSU Proceeds to IBKR Without Paying ₹ 3-4 per $ Forex Mark-ups
6/19/2025
TL;DR – Add your IBKR ACH account as a “bank” inside Shareworks, push the USD proceeds directly, and fund your IBKR USD-denominated account inside India’s USD 200 k LRS window without ever converting to INR.
1 · Why bother?#
- Shareworks lets you “Sell → Remit to local bank” – but Morgan Stanley’s remittance partner often marks up USD/INR by 3–4 %.
- Converting back from INR to USD at your Indian broker or ICICI outward remit adds another 1.5–2 %.
- Interactive Brokers (IBKR India) accepts ACH Direct Transfers in USD from a US bank/broker account at $0 fee.
Net win: save ~5 % on every vest, and you keep the USD buying power to deploy into global ETFs (VOO, QQQ), US T-bills, or fractional FAANG stock.
2 · Pre-requisites#
| What | Where to click | Link |
|---|---|---|
| IBKR account (INDIA) | Client Portal → Search for Direct Transfer → Deposit funds → Currency = USD → ACH Direct Transfer | |
| ACH routing + account number | IBKR shows something like:Routing: 074...Account: 1Z... | copy to clipboard |
| Shareworks login | My Profile → Banks | https://shareworks.solium.com/solium/servlet/ui/profile/bank |
Note: IBKR ACH is US-domestic only – Shareworks counts as a US broker so the transfer clears inside the US banking grid.
3 · One-time setup (5 min)#
-
IBKR → Deposit → ACH Direct Transfer → Save the routing + account numbers.
-
Shareworks → Accounts & Settings → Banking → Add Bank.
- Country: United States
- Paste IBKR routing + account numbers.
4 · Moving money every vest (two paths)#
| Path | When to click | UX |
|---|---|---|
| A. “Sell & Transfer” | Right on the Submit Sale screen | Select newly-added IBKR bank → Shareworks wires net USD on the settlement date (T+2). |
| B. Bulk transfer | My Account → Cash → Transfer Cash | Pick IBKR bank, input amount (best to start with $10 to test). |
Speed: 3–4 US business days from settlement to IBKR credit.
Fee: $0 both sides.
RBI compliance: Amount still counts toward USD 250 k LRS yearly limit. Log it in your spreadsheet – the bank will ask at tax time.
5 · Buying foreign assets in IBKR#
- USD cash appears (IBKR “USD Cash” row).
- Place normal buy orders – US stocks, ETFs, even short-duration Treasury
Bills (IBKR symbol:
BIL,SGOV).
6 · Try with $10 first (seriously)#
Send $10, wait until it shows in IBKR, then move the real vest. That confirms:
- ACH details were typed correctly
- Your company didn’t restrict external banks
- IBKR auto-matches the incoming name
A one-time sanity check beats sweating over $40 k stuck in limbo.
7 · Don’t have an IBKR account yet?#
If this guide saved you a few rupees 💸 you can say thanks by opening your Interactive Brokers account via my referral link (we both get a small bonus when your account is funded):
No pressure—feel free to skip if you’re already set up.
8 · Key links 🔗#
- Morgan Stanley Shareworks help – https://www.shareworks.com/support
- RBI FAQ on Liberalised Remittance Scheme (LRS) – https://rbi.org.in/scripts/FAQView.aspx?Id=115
🏁 Wrap-up#
With one ten-minute bank-linking exercise you:
- dodge the 3–5 % conversion loss every vest,
- keep funds in USD for global compounding,
- stay fully compliant under India’s LRS.
Happy saving – and spend the forex fee you didn’t pay on something fun 🚀