Important information before you fund your account!
- If you fund your account in a different currency, currency conversion fees may apply.
- Your deposits must come from a bank account in your name; Saxo Bank does not accept third-party payments.
- Your first funding needs to come from a bank account in your country of residence. You can add another country for deposits and withdrawals after your first deposit by submitting an approval request. Read more: Additional questions you might have.
- Some funding methods are only available in certain countries. For example, Quick payment is only available to clients with a Danish bank account.
To find the different options to deposit cash into your Saxo account:
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SaxoInvestor: Click the main menu
> Deposits and transfers > Deposit funds
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SaxoTrader: Click on the main menu
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SaxoTrader for desktop: Click the main menu
Do you want to know more about the funding methods we offer? You can learn more about them below.
Different funding methods
Funding with a bank transfer
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Click on the main menu
- Select the Saxo account ID you want to fund.
- Select the currency you want to transfer from your bank. Please note: Transfers made in different currencies will be eligible for a currency conversion. Read more below under Additional questions you might have.
- Follow the instructions listed in the module to complete the transfer.
Funding with a digital bank transfer
You can fund your account with a digital bank (also known as a 'neobank') and payment providers such as Revolut or Wise. However, your first funding must come from a bank account that we can verify is held in your name in your country of residence.
We will find it easier to verify the origin of funds when you use a traditional bank account, so we recommend making your first funding with a traditional bank account in your name.
Read more: Can I fund my account using a digital bank or payment provider, such as Revolut or Wise?
Additional questions you might have
Do you have some questions about funding your account? You can find a list of FAQs below.
Funding with another currency
Opening a sub-account in a currency different from your main account
If your main account is in a certain currency (for example, EUR) and you want to fund it in another currency (for example, USD) to avoid the conversion fee, you can open a sub-account in USD. You can then send your USD directly to the sub-account without the conversion fee.
Funding from outside your country of residence
For more information, read How can I add another country for funding outside of my country of residence?
Funding fees
Saxo does not charge fees for cash transfers. However, fees may be charged by intermediary banks or other parties involved in the transfer process, such as the sending or receiving bank. Saxo executes all payments as shared payments, which means that you are responsible for any fees charged by other banks used to send money to or from your account.
When you fund your account from another country or in a different currency, one or more intermediary banks may be involved in processing the payment. If these banks deduct their own fees, the amount credited to your Saxo account could be lower than the amount you originally sent.
Deposit transfer times
The time it takes for funds to reach your Saxo account depends on the payment method and the country from which the transfer is sent.
As a general guideline, domestic transfers from your country of residence typically arrive within 1-2 business days. International transfers may take 2-5 business days, depending on the banks and payment networks involved.
Please note that processing times can vary and may be affected by factors such as bank holidays, intermediary banks, and local banking procedures.
Read more: How long does a money transfer take?
Your account is temporarily restricted
If your account is restricted due to missing client information, you may be unable to add funds or open new positions until the information is updated. As Saxo Bank does not accept third-party payments, we need to verify that your funds come from an account in your name.
Read: How does the ‘Client information update and verification’ process work?