When transferring money to or from your Saxo account, there are different factors that will determine when the funds will be available in your account. While the timeline for these transfers can range from a few days to up to 5 days in the case of international transfers, it is important to note that there can be delays that are out of Saxo’s control.
Sending money to my Saxo account
Card deposits are booked instantly, but please note that card payments are not available from all countries. Read more here: Card Funding
Domestic bank transfers will be credited to your Saxo account with the value date chosen by the sending bank and generally take 1 to 2 business days.
Cross-border (International) bank transfers or transfers in a foreign currency can take 2 to 5 business days. This can be due to money being in a currency which requires an intermediary bank to clear the funds or to do additional scrutiny.
If the money hasn’t reached your Saxo account within 5 banking days:
Check with your bank: Contact your bank, they should be able to track the payment.
Check with Saxo: If there are still questions, please write to us and share the SWIFT message that your bank should be able to provide
Withdrawing money from my Saxo account
Domestic bank transfers take 1 to 2 business days, but this can also vary depending on factors such as the value date. What is 'value date'?
Cross-border (International) transfers or transfers in a foreign currency typically involve several parties and, on some occasions, funds can take longer to be cleared by the intermediary banks involved.
If you do not receive funds within 5 banking days after you receive our withdrawal/payment confirmation email, please write to us.
When you just sell your shares and withdraw right after, we will need to wait for the shares transaction to settle (normally the day of the transaction + 2 days, T+2) before we can send out your withdrawal. You can check the Value date in the Trades report.
The first 1 or 2 days of every month is the time for us to deduct all the monthly fees/charges. If you withdraw cash at the end of the month, please wait for a couple of days. We will send out your withdrawal after the deduction is done.
The graph below illustrates the typical flow and the parties typically involved with a cross-border transfer or a transfer to a foreign currency.