If you use an online broker for trading or investment, you may want to take advantage of the potential rewards, particularly if you’ve been making good trades or need access to your money for some reason. You must first withdraw money from your brokerage account to do it.
However, brokers differ widely in terms of the speed and convenience of withdrawals and the withdrawal methods they provide (such as bank transfers or credit/debit cards). Additionally, while most brokers offer free retreats, some brokers and withdrawal types may charge a fee.
What is DEGIRO performance like in this area? Before we get into the specifics, let us quickly go over how to withdraw money from DEGIRO and how its withdrawal options and costs stack up against some of its main competitors.
How do I transfer money to my DEGIRO account?
You can manually transfer money into your DEGIRO account from the bank account you registered with. Only funds from your designated bank account may be used for deposits.
You can deposit using our Czech EUR, and Czech CZK accounts to send money in both currencies. They are visible in the Trader’s platform messages. You must know that these are different from the DEGIRO Verification Account.
The display of manual bank transfers in your DEGIRO account can take up to two or three working days. DEGIRO is one of the best paper trading platform does not support urgent transfers. With your bank, you can set up a transfer as a standing order or direct debit. DEGIRO will never take money out of your account without your permission. The client must start all transfers.
The procedures listed below must be followed to withdraw money from DEGIRO:
· Login to your account.
· Choose “Withdrawal” or “Withdraw money” from the appropriate option.
· Decide which withdrawal method and account to use (if more than one option is available)
· When asked, enter the withdrawal amount and a brief justification or description.
· Send your request
Please be aware that only accounts with your name on them are eligible for withdrawals.
How do I get money out of my bank account?
By selecting Deposit/Withdraw money in the upper right corner of the trading page, you can transfer money from your DEGIRO account to your primary registered bank account. You can access this section by selecting “Deposit/Withdraw” from the menu in the upper-left corner of the app.
The funds that are already invested cannot be withdrawn. Please remember that withdrawal processing can take up to 2-4 working days.
Withdrawal fees for DEGIRO
While most of the time, adding money to a brokerage account is free, the same cannot always be said for taking money out. Consider whether high costs, particularly for international bank and wire transfers, might apply to your transactions.
We have excellent news for you: DEGIRO is the best paper trading platform offers free bare withdrawal. For more information, potential exclusions, and a comparison of DEGIRO with some of its fiercest competitors.
My transfer has yet to arrive in my account. What should I do?
The completion of transfers may require two to three working days. Please check your bank account for the funds once this period has passed; it’s possible that your transfer was cancelled or reversed. If not, you might have sent money from an unauthorized bank account.
Please double-check the bank information you provided to DEGIRO under the Profile tab. The new bank details can be registered on your profile under “Linked Bank accounts” if money was transferred from an unregistered bank account.
Can I transfer via a third-party service?
DEGIRO only accepts transfers from one bank to another. Every transfer must come from your linked bank account directly. We do not accept transfers made through services like TransferWise or PayPal.
Can I transfer money in a different exchange rate?
No, you can only deposit using the currency pair associated with your DEGIRO account.
In most circumstances, DEGIRO withdrawal is free of cost. Only bank transfers are available; there are no other practical choices, including departures to credit/debit cards or electronic wallets.
Check out our broker comparison tool to see how DEGIRO’s withdrawal costs and alternatives compare to the other brokerages.