Which withdrawal methods are available? OANDA Asia Pacific

What should I keep in mind before withdrawing funds?

  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, you should be aware that a withdrawal could trigger a margin closeout if you no longer have sufficient funds in your account to maintain your open positions.

  3. You can only withdraw funds by the same method and currency you used to deposit them into your OANDA account.

  4. When we request for 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.
  • Bank transfers within Singapore may take 1-2 business days. Internet banking transfers may take 2-3 business days. However, in all cases, your financial institution may take additional time to complete your fund transfer.
  • Withdrawals by bank transfer must be: 1) Processed to bank accounts registered in the same name as your OANDA account 2) Processed in the same currency as the original deposit.
  • If you deposited using a Singapore bank account, we may be able to return funds to a new bank account. If, for instance, you deposited funds by wire transfer from bank X, you may opt to withdraw funds to an account in bank Y so long as: 1) Bank Y is within the same jurisdiction as bank X. 2) You are currently residing in that jurisdiction. 3) The account in bank Y is registered to your name 4) You have provided a bank statement from bank Y which contains a residential address that matches OANDA's records.

For specific circumstances, if the original source is unavailable, we may be required to perform reasonable checks to verify this. You may be requested to submit proof of closure for the original source. You can email us one of the following documents: 1) A bank statement showing zero balance and information that the account is closed. 2) A closure letter from your bank showing the following information: a) Your full name b) The bank account number c) Your current address (addresses need match what is on file with OANDA) d) The banks logo or emblem

  • If we ask you to one-time verify your receiving bank account, send us a scan, screenshot or photo of your bank statement, bank passbook or stamped bank letter, clearly showing: 1) Your full name 2) The bank account number 3) Your current address (addresses need match what is on file with OANDA) 4) The banks logo or emblem 5) The date of issue which should be within the last 3 months. In case you submit a stamped bank letter, it must include the bank representative’s name and contact information. In case you submit a passbook without any address, we’ll verify if the NRIC number on the passbook matches the one on the ID you submitted at the time of opening the account.

  • Withdrawal fees 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
SGD No fee No fee
HKD HKD $150 HKD $300
USD USD $20 USD $35
JPY JPY ¥2,000 JPY ¥4,000
AUD AUD $20 AUD $40
GBP GBP £10 GBP £20
EUR EUR €20 EUR €35
CHF CHF 20 CHF 40
CAD CAD $20 CAD $40

An unsuccessful withdrawal can be due to the following reasons:

  • You requested a withdrawal to a different source than was used to deposit. We return all funds to the source. For instance, if you deposited funds using a bank transfer, you would need to withdraw those funds to your bank account account. If your bank account account is no longer valid, we require documentation from your bank verifying that the original bank account is no longer operational.
  • If you can't withdraw funds, it may be because we couldn't verify the source of your funds, which is required under anti-money laundering (AML) regulations. For specifics, email us at frontdesk@oanda.com.
  • Your margin available needs enough funds to cover the withdrawal amount requested. If your margin available cannot cover your requested withdrawal amount, your withdrawal will be declined. Refer to our margin rules FAQ to find out how margin works and how it is calculated.

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