Which withdrawal methods are available? OANDA Australia Pty Ltd

Funds must be returned to the original source from which they were deposited in the following order: Card > Bank transfer if:

  • you are a resident of Latin America and the Caribbean or
  • it’s been less than 6 months since your first deposit

In every other case, funds can be returned to a source other than the original source if the source has been verified by our team.

This topic is applicable to residents of Australia and Australian overseas territories.

What should I keep in mind before making a withdrawal request?

  1. As we may sometimes need to contact you about your withdrawals, we encourage you to closely monitor your email inbox (including your junk folder).

  2. Whenever you request a withdrawal, ensure that there are sufficient funds remaining in your OANDA account to prevent margin calls on your existing trades.

  3. When we request a photo, scan, or screenshot of any document, the submission should meet our guidelines:

    1. We can accept PDF or JPEG formats only

    2. No edited or altered documentation can be accepted

    3. Documents must be legible

    4. Downloaded documents are acceptable as long as the entire document (all 4 corners) is visible and provides all the required information

    5. We do not accept direct deposit forms or other bank application forms
Average processing time Our fees
One to three business days* No fees
  • OANDA can process up to 100% of the original deposited amount back to a credit/debit card. Any trading profits or amount beyond this limit can be withdrawn via bank transfer.
  • *Withdrawals to credit/debit cards can only be initiated after one day from the time of your deposit and are processed after all your debit card deposits have cleared. This takes an average of one to three business days from the date of your deposit. Your credit/debit card provider may take additional time to complete your withdrawal beyond our standard processing time.
  • Your withdrawal may be divided into multiple payments to match your original deposit transactions, and as a result may arrive in different batches as processed by your bank.

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 add a new card on the My Funds portal by making a deposit with it.

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?

If a credit/debit card used to fund your account no longer exists or is not in service, you may withdraw your remaining funds by bank transfer.

If it’s been less than 6 months since your first deposit, we will require further documentation such as a letter from your bank verifying that the debit card is no longer in service. The bank document must include the following information:

  • Name of the bank 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.

For the protection of your funds, withdrawals by bank transfer must meet the following requirements:

  • Withdrawals must be processed to bank accounts registered to the same person (or entity) listed on the OANDA account.

  • 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.

  • Withdrawals must be processed in the same currency as the original deposit.

  • Withdrawals must be sufficient to cover the withdrawal fees as explained in the subsequent FAQs. If the requested withdrawal amount is not sufficient to cover the fees, the request will be cancelled and the funds will be returned to your account.

  • If you are withdrawing to a bank account that you have not previously made any deposits from, we will require a scan, screenshot, or photo of your bank statement, clearly showing:

    1. Your full name

    2. The bank account number

    3. Your current address (addresses need to match what is on file with OANDA)

    4. The bank's logo or emblem

    5. The date of issue, which should be within the last 3 months.

  • 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:

      1. Your full name

      2. The bank account number

      3. Your current address (addresses need to match what is on file with OANDA)

      4. The bank's logo or emblem.

When will I get my money?

Bank transfers within Australia usually take one to three business days. International bank transfers usually take up to five business days. Internet banking transfer within Australia or internationally usually takes up to five business days. Your bank may take additional time to complete your withdrawal.

Withdrawal fees

  • Your bank may charge fees, which are outside of OANDA’s control.
  • OANDA does not charge any withdrawal fee for internet banking transfers. Our withdrawal fees for bank transfers depend on the currency of withdrawal. Refer to the following table:
Account currency First withdrawal processed within calendar month Additional withdrawals processed within calendar month
AUD For AUD (domestic) transfers there is no fee, regardless of how many withdrawals are done in a month.For AUD (international) transfers there is a 20 AUD fee for the first transfer that takes place in a month. For AUD (international) transfers the fee of 40 AUD will be charged for all additional transfers that occur within a single month.
SGD No fee No fee
HKD HKD $150 HKD $300
USD USD $20 USD $35
JPY JPY ¥2,000 JPY ¥4,000
GBP GBP £10 GBP £20
EUR EUR €20 EUR €35
CHF CHF 20 CHF 40
CAD CAD $20 CAD $40
(AUD only): domestic AUD transfers sent to Australian bank accounts will post a fee when you request a withdrawal, but this will be removed during processing.

The most common reasons for a withdrawal being unsuccessful are as follows:

  • If you are unable to withdraw funds, it may be because we have been unable to verify the source of your funds, which is required under anti-money laundering (AML) regulations. For specifics, email us at frontdesk@oanda.com .
  • You did not have enough margin available to cover the withdrawal amount requested. If your margin available cannot cover your requested withdrawal amount during processing, your withdrawal will be declined.

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