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Thread: I have a problem with Oandas withdrawal policy

  1. #1
    Funds are withdrawn using the identical method, and to the same account as previously utilised to deposit

    Is there anyway to avoid this to get my money out of Oanda?

    http://fxtrade.oanda.com/help/how-to-withdraw-funds

  2. #2
    Quote Originally Posted by ;
    Funds are withdrawn with the same method, and also to the same account as previously utilized to deposit Is there anyway to get around this to get my money out of Oanda? Http://fxtrade.oanda.com/help/how-to-withdraw-funds
    generally speaking, this is to safeguard against fraud and money laundering so the same individual should do the deposit and withdrawal. Another reason is to prevent people from using these brokers as exchanger services.

    With Oanda, your best bet is to deposit with credit card and then withdraw through another payment processor such as Paypal. You'll need to check up with this as maybe they might have some specific withdrawal approach.

    The other way is possibly a broker to broker transfer. It does not seem like Oanda provides this, but could not hurt to ask.

  3. #3
    Quote Originally Posted by ;
    quote generally speaking, this is to safeguard against fraud and money laundering so the exact same individual must do the deposit and withdrawal. Another motive is to stop individuals from using these brokers as exchanger services. With Oanda, your very best bet is to deposit credit card and then withdraw through a different payment processor such as Paypal. You will need to check up with this as maybe they might have some specific withdrawal method. Another way is possibly a broker to broker transfer. It does not look like Oanda offers this, but could not hurt to...
    What happens if I deposit with a bank account but alter banks and need to withdraw my money into the new bank account? It seems just like Oanda is being foolish. To be honest I wish I never used them. In reality it appears that forex brokers in general are not very stable.

  4. #4
    Its been like that since forever, and they're only compliant with all AML regulation.

  5. #5
    Quote Originally Posted by ;
    Its been like that since forever, and they are just compliant with all AML regulation.
    Most brokers don't make it that complied to withdraw. I wish they were never used by me.

  6. #6
    Quote Originally Posted by ;
    quote What happens if I deposit with a bank account but change banks and want to withdraw my money to the new bank account? It seems like Oanda is being unreasonable. To be honest I wish I never used them. In fact it appears that Currency Market brokers generally are not too stable.
    If u used a wire transfer from a bank account and subsequently changed banks can still withdraw money for any bank account under your name.

  7. #7
    Hello! I'm with Oanda years, never had any issues with them. Simply adhere to the rules.

    I had a lot of problems with UCVHOST Affordable VPS providers. This is business without honor and respect to their clients. Originally it seems working, but once upon a time their service stop functioning and then nightmare begins. Chat is polite, but to speak to them exactly the same as to speak to TV set. They do not answer to your emails, free service ticket e.t.c. e.t.c.. If you gona put in their VPS your terminal, then be careful that it can stop working any moment, and your experts will stop functioning. You know what it can cause.

  8. #8
    Quote Originally Posted by ;
    quote What happens when I deposit with a bank account but change banks and need to withdraw my cash to the new bank account? It seems like Oanda is being foolish. To be honest I need I never used them. In fact it appears that forex brokers in general are not very stable.
    Then best to make sure your bank name matches. For example, in the event that you used John Smith for Bank A, and deposited, then make sure you are withdrawing to a John Smith in Bank B. This is pretty much common sense as after all you are opening an account in your name (ideally). But, there will always be individuals attempting to deposit under the name John Smith and then withdraw to a Alakbar Osama Abdo.

    Additionally, Oanda has account managers that you can call up or email. If you can prove both bank accounts are in your name and that you are the same individual (reveal account opening forms) then I really don't see why they wouldn't allow you.

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