In this article you can get help with:
How to register a new account for withdrawals
How do I withdraw funds as a corporate client?
How long does it take to process an account withdrawal?
How to withdraw funds
To withdraw funds from your Saxo account:
- Login and go to the 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's 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
How to register a new account for withdrawals
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.
You have two ways to add a new account:
1. Fund from a bank account in your own name
The fastest and recommended way:
- Do a simple bank transfer to your Saxo account, from an account in your name.
- The transfer can be of any value, even a "micro-payment" of 5 euros.
- Here are instructions on how to fund your account: How do I fund my account?
Once your bank account passes our verification checks, the verified account details will appear in the External account drop down menu.
|
Note Bank/wire transfer is the only method which 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. |
2. Create a case through the trading platform
Watch this short video or follow the step-by-step instructions below:
- 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. - SaxoTraderGO Mobile App: 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
- Fill the form provided:
| 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 |
3. Attach a bank statement as proof of account ownership. The document should contain your name and account details, and should be clearly legible.
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.
How do I withdraw funds as a corporate client?
The online withdrawal module is not available for Corporate Clients by default. To request it, the client must submit an attached form SaxoGroup_Cash_Module_Form, sign and return it to us through a case.
Otherwise, please use the following link to the Funds Transfer Request Form required for withdrawing funds: Transfer Request Form.
The completed form can be returned to us via e-mail to PaymentServices@saxobank.com
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