How to transfer funds out from IG

[Guest Ziggy]

I see plenty of information on how to deposit funds, but how easy is it to transfer money out of my account.

[JamesIG]

Hey - generally speaking regulations laid out by the FCA (and other global regulatory bodies) require us to send cash back to the same source in which we receive them from. This means we can send funds back to the card used to deposit, however, if you wish for funds to be returned to a different source i.e. directly to your bank account, we would first need to verify the original payment source. 

Although from your perspective your card and bank account are linked, they are actually separate things and there is nothing which we can see which link the two. For example if you have a bank account with Barclays and make a deposit into your IG account with your debit card, there is no way that we can link these two without validation. 

I appreciate that this additional step for a withdrawal is frustrating, but it is required to comply with the FCA’s Anti Money Laundering Policy. Unfortunately to reduce this risk requires regulated companies such as ourselves to make these verification checks for all clients.

Finally, if you made your original payment into IG via a bank transfer then it would obviously be fine to withdraw funds to the same bank (however this can take longer due to the internal workings of the banks and the international remittance process). 

If anyone else would like to add further questions relating to the movement of funds in and out of the IG account (or wish to share their own experiences of the process) please feel free to add to the conversation.