diff --git a/package.json b/package.json
index 35762d5b6..0e7d578f3 100644
--- a/package.json
+++ b/package.json
@@ -95,7 +95,7 @@
     "graphql-ws": "^5.13.1",
     "gt3-server-node-express-sdk": "https://github.com/GaloyMoney/gt3-server-node-express-bypass#master",
     "i18n": "^0.15.1",
-    "ibex-client": "^3.1.0",
+    "ibex-client": "^3.2.0",
     "invoices": "^3.0.0",
     "ioredis": "^5.3.2",
     "ioredis-cache": "^2.0.0",
diff --git a/src/app/cash-wallet-cutover/runtime-services.ts b/src/app/cash-wallet-cutover/runtime-services.ts
index ce49a7028..be1e3cd59 100644
--- a/src/app/cash-wallet-cutover/runtime-services.ts
+++ b/src/app/cash-wallet-cutover/runtime-services.ts
@@ -126,8 +126,14 @@ const sleep: SleepFn = (delayMs: number) =>
 
 const errorMessage = (error: Error): string => error.message || String(error)
 
-const isIbexRateLimitError = (error: Error): boolean =>
-  errorMessage(error).toLowerCase().includes("too many requests")
+const isIbexRateLimitError = (error: Error): boolean => {
+  // Structural first (ENG-485): IbexError.httpCode (via ibex-client >= 3.2.0
+  // ApiError) for returned errors, .status for raw thrown FetchErrors. Text
+  // match kept as a fallback for anything that carries neither.
+  const candidate = error as { httpCode?: unknown; status?: unknown }
+  if (candidate.httpCode === 429 || candidate.status === 429) return true
+  return errorMessage(error).toLowerCase().includes("too many requests")
+}
 
 const withIbexRateLimitRetry = async <T>({
   operation,
diff --git a/src/services/ibex/errors.ts b/src/services/ibex/errors.ts
index f038a8e07..c34d6c9be 100644
--- a/src/services/ibex/errors.ts
+++ b/src/services/ibex/errors.ts
@@ -15,7 +15,7 @@ export class IbexError extends DomainError {
     super(err)
     this.type = err.name
     this.level = level
-    // this.httpCode = err instanceof ApiError ? err.code : undefined
+    this.httpCode = err instanceof ApiError ? err.httpCode : undefined
   }
 }
 
diff --git a/test/flash/unit/app/cash-wallet-cutover/runtime-services.spec.ts b/test/flash/unit/app/cash-wallet-cutover/runtime-services.spec.ts
index 3dc469e49..4de21b46b 100644
--- a/test/flash/unit/app/cash-wallet-cutover/runtime-services.spec.ts
+++ b/test/flash/unit/app/cash-wallet-cutover/runtime-services.spec.ts
@@ -31,6 +31,25 @@ describe("cutover runtime services — IBEX rate-limit retry (ENG-483)", () => {
     expect(sleeps).toEqual([7, 7])
   })
 
+  it("retries on structural 429 (httpCode/status) with no rate-limit text (ENG-485)", async () => {
+    const structural = Object.assign(new Error("Request failed"), { status: 429 })
+    const getRawAccountDetails = jest
+      .fn()
+      .mockRejectedValueOnce(structural)
+      .mockResolvedValue({ balance: 1 })
+
+    const services = createCashWalletMigrationRuntimeServices({
+      getRawAccountDetails,
+      rateLimitRetryDelayMs: 1,
+      sleep: async () => undefined,
+    })
+
+    const result = await services.balanceReader.readSourceBalanceUsdCents(migration)
+
+    expect(result).toBe("100")
+    expect(getRawAccountDetails).toHaveBeenCalledTimes(2)
+  })
+
   it("retries balance reads when the read RETURNS a rate-limit error", async () => {
     const getRawAccountDetails = jest
       .fn()
diff --git a/yarn.lock b/yarn.lock
index 398a36097..321f012b4 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -8867,10 +8867,10 @@ i18n@^0.15.1:
     math-interval-parser "^2.0.1"
     mustache "^4.2.0"
 
-ibex-client@^3.1.0:
-  version "3.1.1"
-  resolved "https://registry.yarnpkg.com/ibex-client/-/ibex-client-3.1.1.tgz#8fe11b40f2b51d03fb6f5f613f558a06097d525b"
-  integrity sha512-9L2aYU+40GU1u0fQ1Ag0C1f3ncfJL0+d7YzkBEDSw1uqfaILc+Zeg23B9U3jssurJZJ+pJN2QFCWN0Ww0bsJZg==
+ibex-client@^3.2.0:
+  version "3.2.0"
+  resolved "https://registry.yarnpkg.com/ibex-client/-/ibex-client-3.2.0.tgz#2a9a707e1c250c1bd226e7be99c5d5baa2f24ca2"
+  integrity sha512-jteyXwSBUIwEyjEXFXdJMUYtBdoZ2HloDoFuBm20rThN6jlR/2XAaimlitZjmImKE1u1wCLrAcaAXWH8AcOStA==
   dependencies:
     api "^6.1.2"
     node-cache "^5.1.2"