In this article you get help with:
- How to withdraw funds
- How to register a new account to use for withdrawals
- How long does it take to process an account withdrawal?
- Withdraw from a joint account
- Corporate clients
How to withdraw funds
To withdraw funds from your Saxo account:
- Go to the main menu > Deposits and Transfers
- Click Withdraw funds
- Select the Saxo account you want to withdraw money from
- Enter the Withdrawal amount and the currency
- Select your External account - If there are no External accounts in the menu, read the following: 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.
- Type in 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, of any amount, to your Saxo account.
Read more about how to make a bank transfer.
We verify the incoming payment details and store them for you to withdraw securely.
Verified account details will always appear in the drop-down menu of your withdrawal module.
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Note Bank/wire transfer is the only method that automatically verifies your bank account for later use for withdrawals. This does not apply to card payments. Allow three working days for your account details to appear in the External account drop-down menu. If this has not taken effect by then, please contact our support team: How do I request support? |
2. Create a case through the trading platform
To create a new support case, follow the steps below:
- SaxoTraderGO: Click the Main menu > Deposits and transfers > Add bank account for withdrawals
- SaxoTraderPRO: Click Add module > Other > Contact support > Select: Add new bank account number for withdrawal
- Fill out the form.
- 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 your cases by going to:
- Desktop Platforms:
> Inbox - SaxoTraderGO Mobile App:
> Inbox
During periods of increased market interest and volatility, our processing times for new account validation can take longer than usual. Note, you only need to submit your request once per account.
How long does it take to process an account withdrawal?
Withdrawals done over the platform will be processed the next business day (T+1) if requested before 14:00 CET and T+2 otherwise.
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
Withdraw from a joint account
You can withdraw funds from a joint account at Saxo to an external bank account registered in one of the account holders' names.
Corporate clients
The online withdrawal module is not available for Corporate Clients by default. To request it, please fill in the form SaxoGroup_Cash_Module_Form, return it to us through a case.
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 or through a case.