Estimated time to process a transfer of securities
The transfer of securities takes 4 to 6 weeks, however, it might take longer in certain cases.
Once you have submitted the security transfer online make sure you print, sign and send to your bank/broker a scanned copy of the online request you have made with Saxo, as the actual time to complete the process will vary depending on the speed at which your bank responds and complies with our request.
Please, be aware, that the transfer of stocks To or From a savings account (Aktiesparekonto) for Danish clients is not permitted.
You will receive an email and platform notification at these points:
- When your request is received by Saxo
- When Saxo is contacting a counterparty (your other broker/bank)
- When partial transfer is done
- When transfer is completed
- When transfer is cancelled
Please make sure you have initiated a transfer request with your other broker/bank too.
Only some of the securities were successfully transferred
Your transfer request was partially completed, but one or more securities could not be transferred. The request has been closed. The reason the securities could not be transferred may be:
- Duplicate requests were made for the same securities
- Your transfer request details could not be matched with the external broker/bank records.
- The securities are not ready to be transferred right now. Common reasons include incomplete corporate actions, or the securities currently being used as collateral.
Please contact us to find out more. You can start a new request from the Portfolio transfer module in the platform.
Why has my transfer request been cancelled?
If your transfer request is cancelled, you will be notified. The most common reasons for cancellation are:
You already have a pending transfer request for these securities
Saxo received multiple identical transfer requests from you or from the external broker/bank, so we cancelled the duplicate request. We'll continue to process the original transfer request and you can check the status in the Portfolio transfer module in the platform.
You have requested to cancel the transfer
We have cancelled your transfer per your request. If you would like to start a new transfer request, please open the Portfolio transfer module in the platform.
The external broker/bank has not responded to Saxo.
Saxo did not receive confirmation from the external broker/bank within the required timeframe, so your request to transfer securities into your Saxo account was cancelled.
How to restart the transfer process: If you want to start over with a new request, you can go to the Portfolio transfer module in the platform. Follow up with your broker/bank to ensure they send the necessary reply.
Your transfer request details could not be matched with the external broker/bank records.
Saxo was unable to match all transfer request details with the external broker/bank's records, such as account ID, name of client or requested instruments to be transferred, so your request was cancelled.
How to restart the transfer process: If you want to try your transfer request again, please open the Portfolio transfer module in the platform and start a new request. It is important that you ensure all information provided in the request is correct.
Please note that for transfers out of your Sazo account and into an external broker/bank, Saxo cannot transfer securities without first receiving a formal request from the broker/bank.
The securities cannot be transferred right now. Common reasons include incomplete corporate actions, or the securities currently being used as collateral.
Your account or securities were not eligible for a transfer, so your request was cancelled. Common reasons include incomplete corporate actions or securities currently being used as collateral.
If more information is needed about your specific case, please contact us.
The required formal request has not been received from the external broker/bank.
Saxo did not receive a formal request from your external broker/bank, which is required in order to start a transfer out of your Saxo account, so your transfer request was cancelled.
How to restart the transfer process: Please note that Saxo cannot transfer securities without receiving a formal request from the broker/bank. Please contact the broker/bank to start the transfer process.
Your account has insufficient funds to cover the transfer fee.
Your account does not have enough funds to cover the transfer fee, so your request was cancelled.
For your transfer to go through, add funds to your account, then start a new transfer request from the Portfolio transfer module in the platform.
You have not responded to our requests for information.
Saxo did not hear back from you when asking for more information or clarification about your transfer request. We were therefore unable to process your request and have cancelled it.
How to restart the transfer process: If you want to try your transfer request again, please open the Portfolio transfer module in the platform and start a new request. It is important that you respond to any requests from either us or your external broker/bank throughout the transfer process.