In this article you find out:
How to register a new account to use for withdrawals
How to withdraw funds
To withdraw funds from your Saxo account, please follow the steps below:
- Go to the menu
> Deposits and Transfers, or, if you are not logged in yet, click: Deposits and Transfers - Click Withdraw funds
- Select the Saxo account you want to withdraw money from
- Enter the Withdraw amount and the currency
- Select your External account - There's no External accounts in the menu? Read: How to register a new account to use for withdrawals
- When done click Transfer
- An SMS with a code will be sent to your registered phone number and a confirmation window will pop-up. If you don't get the code, follow the instructions provided in the confirmation window.
- Insert the code in the confirmation window and click Confirm
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.
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 a payment via card will not qualify the account to be registered.
2. Create a case through the trading platform
1. Login here or find the support form in our platforms as follows:
-
- Click
> Contact support > Create Support queries and see your historical support cases > Submit ticket > Select: Add new bank account number for withdrawals. - Mobile App SaxoTraderGO: Go to > Support > Contact support > Create Support queries and see your historical support cases > Submit ticket > Select: Add new bank account number for withdrawals.
- Click
2. 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 If not available, please indicate "N.A." |
3. 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. It may not however be a screenshot from your mobile bank application as this will rarely contain both your name and your account details in the same screen.
4. 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. We aim to process your request for new account validation within 24h. Note, you only need to submit your request once per account.