Direct Transfer to Bank Account

[IBSA]

Hi Everyone 

I'm new to IG. I wanted to know how long it takes to withdraw funds directly to your bank account? I mean how long do you have to be with IG for this facility to start. Normally they are not letting me transfer to my bank account.

 

Thanks

AN

 

[Joo]

I don't understand this question, I thought you could only withdraw to your bank account... I didn't even know you needed to wait until withdrawing. How would you withdraw if not to your bank account ??

[Fletch]

43 minutes ago, Joo said:

I don't understand this question, I thought you could only withdraw to your bank account... I didn't even know you needed to wait until withdrawing. How would you withdraw if not to your bank account ??

Withdrawal is paid back to a funding credit/debit card as a refund

[Joo]

2 minutes ago, Fletch said:

Withdrawal is paid back to a funding credit/debit card as a refund

Credit cards ?? Who uses cards to fund a trading account ?? Doesn't make any sense. My cards are limited and also they can be cut at any time by the bank for security purposes. I only use transfers, never I would think of using a card.

[Fletch]

18 minutes ago, Joo said:

Credit cards ?? Who uses cards to fund a trading account ?? Doesn't make any sense. My cards are limited and also they can be cut at any time by the bank for security purposes. I only use transfers, never I would think of using a card.

Shrugs. Don't kill the messenger. I suspect a lot of people fund their account with a card, but each to their own.

[Caseynotes]

Most people fund by debit card. The first round turn for deposit and then withdrawal always takes a little longer because of the security checks needed for each link in the chain. Bank > card company > payment service provider > IG and then back again. But once the links are established there is usually no problem. Note the for the first transaction IG will only return to the source so if using a card IG returns to the card.

Payment Service Providers (PSP) have been causing increasing problems for some time now.

https://www.financemagnates.com/forex/brokers/global-crackdown-on-fx-continues-psps-freezing-transfers/amp/

[Guest Money transfers]

On 23/05/2020 at 08:02, Caseynotes said:

Most people fund by debit card. The first round turn for deposit and then withdrawal always takes a little longer because of the security checks needed for each link in the chain. Bank > card company > payment service provider > IG and then back again. But once the links are established there is usually no problem. Note the for the first transaction IG will only return to the source so if using a card IG returns to the card.

Payment Service Providers (PSP) have been causing increasing problems for some time now.

https://www.financemagnates.com/forex/brokers/global-crackdown-on-fx-continues-psps-freezing-transfers/amp/

Would it be better for people to use a bank wire to deposit/withdraw fund as required by many brokers in the USA ?

[Caseynotes]

On 31/05/2020 at 16:39, Guest Money transfers said:

Would it be better for people to use a bank wire to deposit/withdraw fund as required by many brokers in the USA ?

I've never used a bank wire, debit card for deposits and withdrawals to bank account once the link is established seems to be instantaneous so never looked at using anything else. 

Once the card link is established try to establish the bank link early on with a trial £20 or something just to establish that link before any urgent need arises.