At Saxo, we take precautions to ensure your account is secure. For this reason, we only allow withdrawals to accounts that have been verified to belong to you.
Previously used and verified accounts will appear in the "External account" drop-down menu of your withdrawal module. There are no External accounts in the menu? Read: How to register a new account to use for withdrawals
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 to your Saxo account, from a bank account in your name. The transfer can be of any value. (Funding instructions: How do I fund my account?)
Once your bank account passes our verification checks, you can then make withdrawals to this account. Verified account details will always appear in the drop-down menu of your withdrawal module.
Please note that payment via card will not qualify the account to be registered.
2. Create a case through the trading platform
- SaxoTraderGO: Click Account > Other > Contact support > Select option: Add new bank account number for withdrawals
- SaxoTraderPRO: Click Menu > Contact support > Select option: Add new bank account number for withdrawals
- Fill the form providing:
Field Comment Currency Beneficiary IBAN Mandatory in case of international payments to countries that have adopted IBAN Beneficiary Bank BIC Also known as SWIFT/BIC or just SWIFT Beneficiary Account number Not necessary if IBAN has been provided Clearing code Not necessary if IBAN has been provided
- Attach a bank statement as proof of account ownership. The document should contain your name and account details and should be clearly legible.
- Attach a valid proof of identity, this could be your national ID or passport.
You can follow up on the ticket status from the same 'Contact support' module under 'My tickets'.
Once verified, the new account details will appear in the "External account" drop-down menu. Note, you only need to submit your request once per account.
This short video shows how to submit a request to add a new account for withdrawals:
Otherwise, please find following a link to the Funds Transfer Request Form required for withdrawing funds: Transfer Request Form
The completed, signed form can be returned to us either via e-mail to PaymentServices@saxobank.com
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