Funding Instructions

You can fund your account in a number of ways, outlined below.

• Virtual Account Number (VAN) bank transfer
• Bank, Electronic Funds, and Telegraphic Transfer
• Credit/Debit Card

Other important information for funding:

• Important Information before funding
• Providing Proof of Remittance
• Third Party Funding is Not Accepted
• Unaccepted Forms of Payment
• Currency Conversions
• Remittance Charges

Virtual Account Number (VAN) bank transfer

Saxo clients can now use a unique VAN linked to their Saxo account to swiftly and securely deposit AUD, USD, EUR, GBP and NZD funds to their account.

Step 1:
Go to the “Deposit funds” tab on your Saxo platform, and select “Bank transfer”. The VAN will appear here - use this unique BSB code and bank account number when transferring AUD, USD, EUR, GBP and NZD funds from your personal bank account.

Saxo will seek to match the currency of your deposit to your relevant currency sub-account. You can then take advantage of Saxo's FX rates to seamlessly transfer deposited funds to a different currency sub-account.

Note that VANs are personal, and should not be shared with others.

Please see "Bank, Electronic Funds, and Telegraphic Transfer" section below for transfers involving CAD, HKD, JPY, SGD, CNH or CHF.

Those who wish to transfer AUD, USD, EUR, GBP and NZD funds to their Saxo account without using a VAN can continue to do so - please see below for instructions.

Bank, Electronic Funds, and Telegraphic Transfer

Transfer a nominated amount of AUD or an FX Currency to the appropriate account as detailed in the ‘Electronic Funds Transfer & Telegraphic Transfer’ section below:

• Ensure your funding bank account is opened in the exact same name which has been used to open your Saxo Markets trading account.
• Ensure you instruct your bank to include your Saxo Client ID in your transfer instructions.

Electronic Funds Transfer & Telegraphic Transfer

AUD Bank Account Details:
Bank: HSBC Bank Australia Limited
Account Name: Saxo Capital MKT AU-Client Trust
BSB: 342 011
Account Number: 451747163
Reference: * Your Saxo Client ID (e.g. 1357683)

FX Currency Bank Account Details:
Bank: HSBC Bank Australia Limited
Address: 28 Bridge Street Sydney, NSW 2000
Account Name: Saxo Capital MKT AU-Client Trust
SWIFT: HKBAAU2S
Account Number: See below for currency Account Number
Reference: *Your Saxo Client ID (e.g. 1357683)

Please ensure that you have read the below general section on important information relating to funding your account.

Before you fund your trading account with Saxo Markets, please ensure that your existing bank account has to be under the same name (in the exact order, sequence and form) as the name which has been used to open your Saxo Markets trading account. Similarly, you can only withdraw funds from your trading account to a bank account held under your name. Please instruct your bank to include your Saxo Client ID in your transfer instructions and confirm the currency you wish to receive in your Saxo account. 

Credit/Debit Card

Funding from the Saxo Platforms

Step 1: 
Log into your LIVE SaxoTraderGO account, visit the Cash Management page, and click on Debit/Credit Card Deposit.

Step 2:
Enter and your card (Visa or Mastercard only) details with a nominated amount of AUD or USD to process.

Step 3:
Your funds should be received immediately and will now be able to start trading.

Please refer to our Credit & Debit Card Payment Factsheet for important information on:

• Support Card Issuing Countries
• Available Transaction Currencies
• Currency Conversion
• Card Restrictions
• Fees
• Security

Funding from your respective Credit/Debit card provider

Log into your provider’s card management portal, and follow the descriptions below.

Merchant Transaction Fees are charged by the Payment Service Provider. 
Saxo does not charge any fees relating to credit card payments.

Important Information before funding

Please ensure you read and understand the detailed information directly below and in the proceeding sections prior to funding your Saxo account.

• Saxo Markets is unable to accept funds before account opening due diligence is completed and you have received your Saxo account details. Any funds received before this process has been completed, will be returned to your sending account, less bank charges (if any).
• If you are funding individual trading account, your first funding transaction must come from your personal bank account.
• If you are funding Corporate, Trust or SMSF trading account, your first funding transaction must come from corresponding bank account under the same name.

Providing Proof of Remittance

Please note that we are required under applicable Anti-Money Laundering laws and regulations to request for and verify proof of remittance from our clients. Although such request may not be made immediately upon making the bank transfer or credit/debit card payment, Saxo Markets reserves the right to request for such proof at a later date. If the client is unable to furnish proof of remittance within 5 (five) business days from the date of the funding transaction, we are entitled to return the funds back to the sender.

Third Party Funding is Not Accepted

Saxo Markets does not accept incoming funds from any third party. Saxo Markets will only accept funds originating from a bank account held in the same name registered with Saxo Markets. This rule applies to both individual accounts as well as corporate accounts.

Funds received from any third party accounts will be returned (less bank charges) to the sender. Saxo Markets will endeavour to initiate the immediate return of funds. However, please be aware that there may be a delay for funds reaching your bank account due to the processing time taken by the corresponding banks. The factors that could affect the processing time: the banks involved, the currency being used, and the location of your account (i.e. if your bank account is based outside of Australia). Please contact your bank if you have any questions about how the foreign currency or international transfers are processed. 

Unaccepted Forms of Payment

Saxo Markets does not accept the below forms of payments. Funds received from any or all of these payment channels will be rejected and returned to the sender (less bank charges, if any).

• Banker’s Drafts/cheques;
• Cash Deposits; and
• Remittances from Exchange Houses/Money Changers.

Currency Conversions

If you transfer funds that are in a different currency than the currency of our HSBC account, your funds will be accepted and automatically be converted to the appropriate currency by HSBC who will charge a non-refundable currency conversion fee.

For example: if you send USD to our AUD account 011-451747-163 at HSBC, HSBC will convert your USD to AUD and credit our account.

If your funds are subsequently rejected by us (for example, for Third Party Funding or remittances from Exchange Houses/Money Changers), any currency conversion already carried out on your funds will not be reversed.

If you do not have a Saxo Markets account denominated in the same currency as our HSBC account that your funds have been transferred to, we will convert the funds to the appropriate currency when crediting your Saxo Markets account, and you will be charged a non-refundable currency conversion fee as described in our Commissions, Charges and Margin Schedule.

For example: If you send AUD to our AUD account 011-451747-163 at HSBC, and you only have a USD-denominated Saxo Markets account, we will convert your AUD to USD and credit your Saxo Markets account in USD.

Remittance Charges

Saxo Markets can and will only credit your account with the actual monies received on your behalf.

Remittance charges should be fully covered by the sender.

Rejected funds due to remittance received before the Due Diligence has been completed and you have received your account details or remittance received from Exchange Houses/Money Changers or any third party (including family members) will be returned to the sender less bank charges (if any).