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How do I fund my account?

  • Updated

In this article we cover following topics:

 

Please note:

  • It's not possible to fund ISA accounts by Debit/Credit card.

 

How do I fund my account using Instant Funding?

Instant funding lets you deposit money into your trading account using supported instant payment methods so the funds are credited within seconds and are available to trade right away. Occasionally, payments may take a few minutes or be delayed if additional checks are required.

  • SaxoTrader: click Deposit funds
  • SaxoInvestor: click Deposit funds
  • SaxoTrader Desktop: click on the main menu > Look under Deposits and transfers > Deposit funds > Instant funding 

1. Select Instant funding 

2. You will then be redirected to an external Tink link to give your permission to initiate a payment and share your account details.

 

3. You will then need to search for and connect to your bank, select the account you want to fund from and confirm the payment.

How do I fund my account with a bank transfer​?

Deposit cash into your Saxo account is easy. To find the different options to deposit cash in your Saxo account:
  • SaxoTrader: click Deposit funds
  • SaxoInvestor: click Deposit funds
  • SaxoTrader Desktop: click on the main menu > Look under Deposits and transfers > Deposit funds > Quick payment 

 

 

Note: once you are in the Deposit funds, please always choose the Local bank details to avoid transfer fees from intermediary banks.

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 It may take a few days for funds to reach your Saxo UK account. Please ensure that funds originate from an account in your name or joint names and note that payments from third parties will be rejected.

To fund your account in GBP, please see our bank details below.

Please note that these bank details are for Private Accounts only and cannot be used for SIPP accounts.

 

Currency: GBP (Pound Sterling). Please find instructions to fund your account in other currencies here. 
Payee: Saxo Capital Markets UK Ltd
Bank details:

Citibank London, UK

UK Swift ID CITIGB2LXXX 

Sort Code: 18-50-08

Account number: 13005828

IBAN GB62CITI18500813005828
Ref: Account ID (Example: 76000/12345)

 

Please include your account ID in the Reference field when making bank transfers to ensure prompt processing of your funds. Especially important when funding your ISA you choose your ISA account from the dropdown menu (example:"ISA –76000/12345ISA").

account Missing this information may cause delays.

 

Once your payment is complete, Saxo will securely hold your bank details on file to accommodate any future withdrawals that you request.

Notice for Fund Deposits and Withdrawals:

When transferring funds, please be mindful of the following:

  • Currency Conversion Fees:
    • If the currency of your sending account differs from that of the receiving account (as an example, sending GBP from a GBP bank account to a Saxo account in USD), third-party entities such as intermediary banks may charge conversion fees. Saxo does not control these fees, and we cannot provide specific estimates.
  • International Payment Charges:
    • Transactions involving accounts located overseas may be classified as international payments by third parties, potentially incurring additional charges. These are also beyond Saxo’s control, and we can't specify the amounts involved.
  • Saxo FX Conversion Fees:
    • Saxo may levy foreign exchange conversion fees when the currencies of the sending and receiving accounts do not match.

Recommendations:

To avoid unnecessary fees, especially when using bank transfers, ensure you are sending funds in the same currency as the receiving account by following the settlement instructions provided on our website.

 

 

How do I fund my account with a debit card​?

Please note:

  • Initial funding of your account can only be made by Bank/Wire Transfer. Any subsequent funding can then be made using a debit card.
  • It is not possible to fund ISA accounts by card.

 

1. Registering a new card

2. Funding with a previously registered card

3. Limits on card transactions and number of cards registered

 

1. Registering a new card

Open the trading platform and navigate to the card funding module:

  • In Saxo Investor & SaxoTrader: Select My Profile > Deposit funds > Debit Card Funding

If you have not previously registered a card, follow the instructions enter all the relevant details on page including the card type and deposit amount.

Select you card type and the amount you wish to deposit, check that you have selected your saxo account number you wish to deposit into and then click continue 

On page 2. will be a summary of your details confirm if your happy click continue to enter all the debit card information and select ‘Make Payment’:

  • If the card passes our security checks your payment will be processed.
    The card will automatically be saved to your account for future use – if you are within the limit of the maximum number of registered cards allowed.
  • As a security measure, we automatically remove saved cards if we detect a possible address change.
    – If you have recently moved, and have not done so already, update your address details by opening the platform menu, and choosing ‘Renew personal details’.
    – Then use the ‘Add new card’ option in the funding module to re-register the card. 

2. Funding with a previously registered card

Open the trading platform and navigate to the card funding module:

  • In Saxo Investor & SaxoTrader: My Profile > Deposit funds > Debit Card Funding

 Choose the card you wish to use from the Card field drop-down, then enter an amount and select continue.

  • As you are using a previously registered card, once your transaction has been processed you will be taken to 3. Confirmation.
    You will also see confirmation of the transaction in your notifications.
  • If your deposit is unsuccessful:
    - Try re-registering the card using the 'Add new card' option in the funding module. An updated security check will be run to authorise this for use.
    - If you need to update your address, you can open the platform menu, and choose ‘Renew personal details’.

3. Limits on card transactions and number of cards registered

Read more about limits on debit card transactions and the number of registered cards at Saxo.

Important notes:

  • Personal Accounts Only: Payments must originate from an account in your name or joint names. Third-party payments will be rejected.
  • Private vs. SIPP Accounts: These bank details apply to private accounts only and cannot be used for SIPP accounts.
  • Currency Support: Ensure the transfer is made in GBP for ISA funding.

Additional Help:

For further guidance, follow the step-by-step guide or watch the video in the following article: How do I fund my account?

 

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