Oandas withdrawal policy with PayPal
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Thread: Oandas withdrawal policy with PayPal

  1. #1
    Unless you finance your account that way but that funds their account. Here is their opinion:

    Thanks for calling OANDA.

    With regard to your taste for your withdrawal technique. Please know as per OANDA coverages funds are returned as received, using the same method. Since you funded your account via wire, you can use wire for a withdrawal approach. We've made exceptions to you before to allow withdrawals via PayPal, however that is permitted for your account. We expect this reaction assists you with understanding why you need to use wire withdrawal as your method of choice to your withdrawals.

  2. #2

  3. #3
    I think Oanda's policies in that respect are imposed by law, in other words it is in factn't their fault. They're not being intransigent about it to be difficult.

    Because of international banking and monetary transfer regulations created to fight money-laundering, it's normal now that correctly regulated brokers can't allow withdrawals by means aside from the way by which funds have been deposited, before a total of at least the amount deposited was withdrawn to the same source. Exceptions to that (which may arise, for example when people have retreated via a bank account now closed) are - at the very least - likely to need a lot of paperwork.

  4. #4
    Quote Originally Posted by ;
    unless you fund your account that way but that funds their account through paypal. Here's their opinion: Thank you for contacting OANDA. In regards to your preference for your withdrawal method. Please understand according to OANDA coverages funds are returned with the same method as received. As you only financed your account via wire, you can use wire. We've made exceptions to you before to allow entry via PayPal, however this is no longer permitted for your account. We hope this response assists you farther...
    I really cannot get this, why it is no longer permitted?

  5. #5
    Quote Originally Posted by ;
    quote I really cannot get this, why it is not allowed?
    Since - as explained only above - these days, for anti-money-laundering regulatory reasons, it is allowed to withdraw only to the source from which the account has been financed (which wasn't PayPal, in this case).

    Quite simply, for legal/regulatory reasons, generally. It is not the broker's fault. There are sometimes exceptions (for reasons very similar to this one I mentioned previously) but these days they involve compliance which typically causes quite a few adminiive experience for both broker and client.

  6. #6
    It's exactly the same as the others brokers, you have to withdraw your money you have deposited in by the same method you deposit, and your profit withdraw via Paypal. I deposit and withdraw with no problem with Paypal.

  7. #7
    I have a question once I started an Oanda account 4 years back, I used my bank account for wire transfer to finance my Oanda account. But after that, I discovered Paypal and began to used it to finance my Oanda account in the last 3 years due to reduced transaction price. I shut my bank account because I have used of it. My question is would I really have a problem with Oanda in case I draw any profits in the future with Paypal?

  8. #8
    If have a account you would not fund it with lol. They supply paypal as though it's an alternative. . It's not an alternative for withdrawel. I know you say you have to do so and you have to do this.

  9. #9
    Quote Originally Posted by ;
    they provide paypal as if it's an option. . It's not an option for withdrawel.
    No; this is wrong. When the funds were initially deposited that way, as explained previously, it's an option for withdrawal.

    It's about compliance with anti-money-laundering regulations compelling regulated brokers to return funds for their source.

    Regrettably, people keep responding to the ribbon giving their own confused impressions as if they were factual, and they are just not!

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