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How do I fund my account?

  • Updated

In this article we cover following topics:

 

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's not possible to fund ISA accounts by card.

 

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:
  • SaxoTraderGO: click Deposit funds
  • SaxoInvestor: click Deposit funds
  • SaxoTraderPRO: 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.

2024-01-16_11-41-55.png

 

 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 & SaxoTraderGO/PRO: Select Menu > Deposit and Transfer > Card Funding

If you have not previously registered a card, enter all the relevant details on page 1. Transaction, including the card type and deposit amount.

Choose ‘Add new card’ from the Card field and select Next to continue:

cardfundingUK1.png

On page 2. Card details enter all the debit card information and select ‘Make Payment’:
cardfundingUK2.png

  • 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 & SaxoTraderGO/PRO: Select Menu > Deposit and Transfer > Card Funding

Complete page 1. Transaction with all the details of the deposit, and choose the card you wish to use from the Card field drop-down.

Select Next to continue.

cardfundingUK3.png

  • 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.

 

How do I fund my ISA account? (Bank Transfer)

New Feature: Transfer Funds Between Sub-Accounts

Starting 9th December 2024, clients opening an ISA account will have the ability to transfer funds directly from their General Investment Account (GIA) to their ISA within the platform.

To learn how to complete a sub-account transfer, follow this step-by-step guide.

Important:

  • This feature is currently available only for new ISA accounts opened after 9th December 2024.

 

ISA accounts with Saxo Markets can only be funded via a bank transfer. Debit card funding is not supported for ISA accounts. Below, we’ll guide you through the process step-by-step.

  1. Log into Your Saxo Markets Account.
    • Navigate to the "My Profile" section .
  2. Click "Deposits Funds".
  3. Select Bank Transfer as the Funding Option.
    • Choose your ISA account from the dropdown menu (e.g., "ISA – 76000/12345ISA") and note the account details displayed.
  4. Use Your Saxo Account ID as the Payment Reference.
    • When making the transfer, ensure you include your Account ID (e.g., 76000/12345ISA) as the payment reference. Failure to do so could delay the processing of your funds.
  5. Set Up the Bank Transfer via Your Bank.
    • Use the following bank details to transfer funds to your Saxo ISA account:
      • Payee Name: Saxo Capital Markets UK Ltd
      • Sort Code: 18-50-08
      • Account Number: 13005828
      • IBAN: GB62CITI18500813005828
      • Bank Name: Citibank London, UK
  6. Wait for Confirmation.
    • Transfers may take 0–5 working days to reflect in your account. Saxo will notify you once the funds are available.

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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