In this article you get help with:
How to register a new account to use for withdrawals
You have two ways to add a new account.
1. Fund from a bank account in your own name
The fastest way is to do a simple bank transfer, of any amount, to your Saxo account.
Read more about how to make a bank transfer.
We verify the incoming payment details and store them for you to withdraw to securely.
Verified account details will always appear in the drop down menu of your withdrawal module.
Bank/wire transfer is the only method which automatically verifies your bank account for later use for withdrawals. This does not apply to card payments.
Allow three working days for your account details to appear in the External account drop down menu. If this has not taken effect by then, please contact our support team: How do I request support?
2. Create a case through the trading platform
Watch this short video or follow the step by step instructions below:
- Login here or find the support form in our platforms as follows:
- Click or (Mobile app)
- Then go to: Contact support > Create Support queries and see your historical support cases > Submit ticket > Select: Add new bank account number for withdrawals.
- Fill the form providing:
|Currency Code||e.g GBP|
|Clearing Code||e.g. 12-34-56 (without dashes)|
|Account Number||e.g. 12345678|
|OR for international payments|
|IBAN||e.g. GB2L BKEN 0000 1111 2222 33|
2. Attach a bank statement as proof of account ownership. The document should contain your name and account details, and should be clearly legible. This can be a PDF or an email you receive from your bank, it can also be a photo of a physical bank statement.
3. Attach a valid proof of identity, this could be your driver license or passport.
We cannot accept a screenshot from your mobile bank application as this will rarely contain both your name and account details in the same screen.
Once verified, the new account details will appear in the "External account" drop down menu.
You can follow up on the ticket status from the same 'Contact support' module under 'My tickets'.
During periods of increased market interest and volatility, our processing times for new account validation can take longer than usual. Note, you only need to submit your request once per account.
The online withdrawal module is not available for Corporate Clients by default. To request it, client must submit an attached form SaxoGroup_Cash_Module_Form, sign and return to us.
Otherwise, please find following a link to the Funds Transfer Request Form required for withdrawing funds: Transfer Request Form.
How long does it take to process an account withdrawal?
Value dates can vary for a number of reasons, for example:
- incorrect payment details provided (for example, mismatches between the IBAN and account number)
- full withdrawals may require fee calculations as well as closure and settlement of open positions
- unsettled transactions
- the correspondent banks’ handling time