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
Please read How to register a new account to use for withdrawals
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.
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.