How to withdraw money from your XM account by bank transfer

In this article.XMThis section explains how to withdraw money from your account by bank transfer.

How to withdraw money from your XM account by bank transfer

Access the XM login page.

XM login pageAccess to.

Enter [MT4 (or 5) account number] and [password] and click[login].Click on

Enter [MT4 (or 5) account number] and [password] and click[login].Click on.

Click [Withdrawal] or [Withdraw funds] at the top of the screen.

Once you are on the XM member page, click 'Withdraw' or 'Withdraw Funds' at the top of the screen.

Click the [Withdraw] button under [Local Bank Transfer].

[Click the Withdraw button under Local Bank Transfer.

Fill in the bank transfer form.

The bank transfer form is now displayed. First fill in [Recipient's first name], [Recipient's surname], [Recipient's full name], [Address] and [Bank account number].

Fill in the recipient's bank details.

Select and fill in [Bank name], [SWIFT code], [Bank location], [Branch code] and [Branch name] respectively.

Enter [bank address][branch name] in half-width alphanumeric characters.

Enter [Withdrawal amount].

Finally, enter the [Withdrawal amount], tick the box and press the [Request] button.

Please submit a withdrawal request to a bank account in the same name as your XM trading account name. All withdrawals to accounts not in the same name will be refunded and your account will be deactivated immediately.

When the withdrawal application is complete, the message [Successful] is displayed.

After this, the withdrawal is processed by XM and if there are no problems, theProcessing is completed within one business day and you will receive an email from XM saying [Notification of withdrawal processing completion].

Withdrawals by bank transfer are made by domestic remittance.

Withdrawal by bank transfer is a method whereby XM transfers funds to a bank account designated by the user and withdraws margin from the XM trading account.

The bank to which the money is sent can be any Japanese or overseas bank.

XM currently only processes withdrawals by bank transfer through domestic bank transfers. As we do not process withdrawals via international transfers, there is no need to worry about relay fees.

Banks available and not available

Withdrawals by bank transfer are processed through domestic bank transfers, butSWIFT codeThe bank where the money is to be withdrawn (receiving bank) must be specified as the bank where the money is to be withdrawn (receiving bank).

SWIFT codes are numbers allocated to various Japanese financial institutions and identify banks. [You can find out the SWIFT code from the SWIFT Code List or by searching the web using keywords such as [bank name + SWIFT code].

Banks without a SWIFT code are not available.

Time taken to receive payment is 1~5 bank working days

If you request a withdrawal from your XMTrading account by bank transfer, XM will process the withdrawal within one working day.

It then takes a few days for the bank to process the transfer, so it can take between one and five working days to receive the money after a withdrawal request is made.

Be aware of hidden fees when withdrawing money by bank transfer.

XM bears the fees for all withdrawal methods, however, when withdrawing via bank transfer, XM only bears the fees incurred by the source bank, and any fees incurred by the recipient bank are the responsibility of the customer.

In addition, when processing withdrawals via domestic bank transfers, the withdrawal is processed via a settlement company.take place。

If the withdrawal amount is more than JPY 400 000, there is no intermediary fee to the settlement company, but if the withdrawal amount is less than JPY 400 000, a fee of JPY 2,500 is charged. Therefore, please be aware of hidden fees when withdrawing via bank transfer.

summary

This article explains how to withdraw money from a XM account by bank transfer.