What should I keep in mind before making a withdrawal request?
-
As we may sometimes need to contact you about your withdrawals we encourage you to closely monitor your email inbox (including your junk folder).
-
Whenever you request a withdrawal, you should bear in mind that a withdrawal could trigger a margin closeout if you no longer have sufficient funds on your account to maintain your open positions.
-
Withdrawals are subject to hierarchy rules in order to protect both you and us from fraudulent payment instructions. If you have deposited using multiple methods, you must exhaust the total original deposit amounts in the following order:
-
Credit/debit card
-
Neteller
-
Skrill
-
Bank or wire transfer
-
-
Any money standing to the credit of your landing account(s) (which excludes any bonuses or trading credits) will be transferred to you upon request, subject to you satisfying relevant margin requirements and documentation requests. Also, there must be no outstanding sum due from you.
-
OANDA can process up to 100% of the original deposited amount back to the same source/account you used to fund your account. Any funds remaining in your account after you have withdrawn the full amount you originally deposited may be withdrawn only by bank or wire transfer. If you have sent funds to us from more than one bank account, we will, at our discretion, pay any amounts withdrawn from your landing account(s) to one of the bank accounts from which such funds were received.
-
Where applicable we will return money to your credit/debit card in the form of card refunds. This means that your withdrawal request may be split into multiple payments in order to refund each of your individual deposit transactions.
-
Withdrawal requests for more than US$9000 will be restricted if you have not provided the required documentation.
-
When we request for photo, scan or screenshot of any document, the submission should meet our guidelines:
-
We can accept PDF or JPEG formats only.
-
No edited or altered documentation can be accepted
-
Documents must be legible
-
Downloaded documents are acceptable as long as the entire document (all 4 corners) is visible and provides all the required information
-
We do not accept direct deposit forms, or other bank application forms
-
Withdrawing by credit/debit card
The total amount you can withdraw to your credit/debit card(s) cannot be more than the total amount you deposited from those cards.
When will I get my money?
One to three business days. We do our best to process your request as quickly as possible, but please consider the following may also impact processing times:
- Withdrawals to credit/debit cards are only processed after all your credit/debit card deposits have cleared. This on average takes around 1 business days from the date of your deposit
- Your debit/credit card provider may take additional time to complete your withdrawal.
Withdrawal fees
There are no fees for credit/debit cards.
If I have received a new credit/debit card from my bank, can I add the new card and withdraw money to it?
You can deposit using a new card by logging in to the OANDA portal.
However, due to credit/debit card withdrawal rules it is not possible to withdraw more money than the amount deposited from this new card back to it.
How do I withdraw my money if the credit/debit cards I have used are expired, replaced, lost or stolen, or the account is now closed?
Most banks do accept withdrawals to an expired card, given a replacement card was issued to you and the deposit was made within the last two years. Alternatively, you may contact us to disable the expired card profile and withdraw by a wire transfer.
If a card was last used to deposit more than two years ago, you may contact us to disable the card profile and withdraw by wire transfer.
Prior to withdrawing your funds with an alternative method due to a credit/debit card being replaced, lost/stolen or closed, OANDA requires documentation from your bank verifying that the original card is no longer in service.
The bank issued document must include the following information:
-
Name of the bank credit/debit card owner
-
Last four digits of the card number
-
A statement citing the card is no longer in service
Please forward this document to us by email at frontdesk@oanda.com and we will contact you back with the next steps within one to two business days.
Withdrawing by Neteller
Withdrawals to the above providers are only processed in AUD, CHF, EUR, USD, HKD, SGD
When will I get my money?
Within one business day
Your financial institution may take additional time to complete your withdrawal.
Withdrawal fees
If your e-wallet account is denominated in a currency other than your accounts based currency (for example USD), you may incur exchange fees levied by Neteller in addition to their withdrawal fee.
-
Neteller accounts must be held in the same name and at the same address as in our records for a payment to be successful
-
Neteller members must be fully verified to be able to make a successful payment
-
Neteller corporate payments are not allowed
-
Neteller payments must not originate from a prepaid card.
Withdrawing by Skrill
Withdrawals to the above providers are only processed in AUD, CHF, EUR, USD, HKD, SGD
When will I get my money?
Within one business day
Your financial institution may take additional time to complete your withdrawal.
Withdrawal fees
If your e-wallet account is denominated in a currency other than your accounts-based currency (for example USD), you may incur exchange fees levied by Skrill in addition to their withdrawal fee.
-
Skrill accounts must be held in the same name and at the same address as in our records for a payment to be successful
-
Skrill members must be fully verified to be able to make a successful payment
-
Skrill corporate payments are not allowed
-
Skrill payments must not originate from a prepaid card.
Withdrawing by bank or wire transfer
Withdrawals by bank or wire transfer must be:
- Processed to bank accounts registered to the same person as the OANDA account holder
- The name and address on your OANDA account must match the name and address on the bank account you would like the withdrawal to be processed to
- Processed to the same country, in the same currency as the original deposit.
If the bank account you deposited from has been closed, and you’d like to withdraw to another bank account, we require proof of closure. You can email us one of the following documents:
-
A bank statement showing zero balance and information that the account is closed.
-
A closure letter from your bank showing the following information:
-
Your full name
-
The bank account number
-
Your current address (addresses need match what is on file with OANDA)
-
The banks logo or emblem
-
If you are withdrawing to a bank account that you had previously not made any deposits from, we will need confirmation that you are the owner of the bank account. If we are unable to confirm your details from the bank or wire transfer, we will request a scan, screenshot or photo of your bank statement, clearly showing:
-
Your full name
-
The bank account number
-
Your current address (addresses need match what is on file with OANDA)
-
The banks logo or emblem
-
The date of issue which should be within the last 3 months.
Residents of Taiwan and Thailand who have less than US$9000 deposits or withdrawals may submit bank passbooks with or without address, instead of bank statements.
Please email us at frontdesk@oanda.com.
-
Sufficient to cover the withdrawal fees as explained in the subsequent FAQs. For example, withdrawal requests for less than USD 20 or equivalent are usually not sufficient to cover intermediary fees. Such requests are cancelled and the funds are returned to your account.
When will I get my money?
Within two to five business days
Your financial institution may take additional time to complete your withdrawal.
Withdrawal fees
-
Your bank may charge fees, which are outside of OANDA’s control.
-
Fees charged by intermediaries are shared equally between OANDA and you. If applicable, on average $20 per transaction will be borne by you.
-
Our withdrawal fees depend on the currency of withdrawal. Refer to the following table:
Sub-account currency First withdrawal processed within calendar month Additional withdrawals processed within calendar month CAD CAD $20 CAD $40 AUD AUD $20 AUD $40 EUR EUR €20 EUR €35 CHF CHF 20 CHF 40 GBP GBP £10 GBP £20 HKD HKD $150 HKD $300 JPY JPY ¥2,000 JPY ¥4,000 SGD No fee No fee USD USD $20 USD $35 <![CDATA[ ]]>
Withdrawing by WISE
You can withdraw via WISE only if you’ve deposited via WISE. In exceptional situations, we may also request for a refundable test deposit of $1 or equivalent.
Alternative Payment Methods (APM) / SafeCharge
You cannot withdraw funds back to an APM. If you deposited via an APM, you may withdraw back using a bank or wire transfer.
How can I withdraw funds from my account
-
To withdraw funds, first log in to the OANDA portal.
-
Next, click on Fund Account located in the top right corner of your screen. Alternatively, you can click on TRANSFERS located along the top left of the screen.
-
Once on this page, click on Withdraw Funds located along the right side of the screen.
<![CDATA[ ]]> -
Next, to withdraw funds choose which account you wish to draw funds from by selecting it via the drop-down menu under From Account and selecting where you want those funds to go via the drop-down menu under To Account .
-
Next, select the payment method, select the amount you want to withdraw and then again enter the amount you want to withdraw. Make sure the amount you enter is the same as what you had deposited using the given payment method.
<![CDATA[ ]]>
For withdrawals by card, select Refund as the payment method.
Why am I unable to withdraw funds?
If the payment method that you used to fund your account no longer exists (i.e. bank account profiles that have been closed), you may be eligible to withdraw your funds using bank or wire transfer. In this scenario, we require documentation from your provider verifying that the payment method is no longer operational.
For more information or assistance on this subject, please email frontdesk@oanda.com.
Still have questions? Chat with an agent.
