You may want to first read about how long a cash transfer would take.
You can easily track your cash transfers to and from your Saxo account for an international transfer.
| Please note that this service supports SWIFT transfer tracking only, meaning that it applies to cross-border transfers or transfers in a foreign currency. |
This article covers the following topics:
Money sent from your Saxo account (Withdrawal)
Go to My profile > Deposits and transfers.
If you land on the Deposit funds page, please click the arrow in the top left corner to go back to Deposits and transfers.
You can track what happened to a transfer over the SWIFT (MT103) network by clicking on Request Status on the transfer:
Money sent to your Saxo account (Deposit)
When transferring funds to Saxo, please include your client ID in the payment reference. Without your client ID, your funds may remain pending while we identify the sender.
If the funds do not reach Saxo, they may be held at an intermediary bank. In that case, please contact the bank that initiated the transfer to trace the payment, as they are in the best position to track your funds.
To help you track your funds more effectively, you can also obtain the SWIFT copy/MT103 from the initiating bank and use it to track the funds via Saxo platform.
Go to Deposits and transfers and click Track incoming cross-border payments in SWIFT. Then enter the SWIFT reference.
Potential Rejection Reasons
| In case of rejection of withdrawals from Saxo, please contact your beneficiary bank. |
Deposits to Saxo can be rejected by Saxo due to multiple reasons. Some of the common reasons are:
Account Restrictions
If your account becomes restricted due to missing client information, it may impact your ability to use our services in the future, ultimately putting your account on reduced exposure. This means that you will be unable to add funds to your account or open new positions.
To check if your account information is updated, please check status under:
Go to the menu > Update your personal information > Update account details.
Possible Third-party transfer
Saxo does not accept payments from accounts or cards that are not in your name (3rd party payments).
| Note: Any payments made by a third party will be returned to the source card or bank account. Payment return can take a few more days than a normal transfer. |
Unidentified Account
Example: Missing Names, Client IDs on the transaction