Currently, Olymp Trade has provided traders with a large number of online payment methods for deposit and withdrawal. However, this leads to certain questions during withdrawing money. For example, the bank card has expired, the withdrawal processing time has been over but your bank account balance has not been credited, etc. Today we will answer all these questions (FAQ) for you when withdrawing money from the Olymp Trade account.
Olymp Trade FAQ about withdrawal
This is an overview of our knowledge when participating in trading, depositing, and withdrawing in Olymp Trade.
When will the money be deducted from my account balance after making a withdrawal request?
Your Olymp Trade account balance is deducted only when the platform approves your withdrawal request. This means that if the platform has not approved, you can still continue to trade with the entire balance in your account.
However, by the time Olymp Trade considers your withdrawal request, if your account no longer has enough balance for the withdrawal request, your request will be canceled.
For example, Your balance is $100. You place a withdrawal request of $80. After placing the withdrawal request, if the platform has not deducted your balance, you can still continue trading with that $100.
If the withdrawal request is processed in several installments. Then the withdrawn amount will be deducted from your account in installments to transfer to you. So, you can use your entire account balance until your withdrawal request is processed.
How do I withdraw money to an e-wallet although I deposit with a Visa card and vice versa?
This is also a common question for many new investors. In case your VISA card or e-wallet has expired or been no longer available. If you want to withdraw to another payment gateway, you will need to contact with Olymp Trade to receive detailed processing instructions.
Why can’t I withdraw all my money to my online banking account or e-wallet at one time?
Payment systems have limits on the maximum deposit/withdrawal amount. Therefore, large payments will be divided into many small ones. Olymp Trade will process all these small payments simultaneously.
Why can’t I withdraw my profit to my bank account?
You may encounter this problem when your bank refuses to accept the money transferred from Olymp Trade which is larger than the deposited amount. Regarding this, Olymp Trade will ask you to provide an e-wallet so that withdrawal requests are still processed successfully.
The withdrawal request has been successfully processed. But after 5 days, the money has not been credited to my account yet
After Olymp Trade processes your request, the money is sent to the bank of the e-wallet, online banking or bank account you used to deposit. The amount of time that it takes to credit your account balance depends on the bank. It is usually from 2 to 3 working days. If you do not receive your payment after this period of time. You should contact your bank for an explanation.
Your bank may also decline your payment for some reason. In this case, Olymp Trade will pay via e-wallet for you.
Notes: You may have exceeded the maximum limit of the amount of deposit or withdrawal in a day. At that time, contact the bank or technical support of the electronic payment system you use.
The payment card has expired. How to add a new card and remove an old one
If you are unable to use your bank card, it may be because your bank card is lost, expired, or locked, etc. You must notify the Olymp Trade support before you submit a withdrawal request. If you have sent a request, you should also notify the technical support. Then, the platform support will instruct you to solve this problem.
The above is how to handle problems occurring when withdrawing and depositing money in Olymp Trade. This is a very necessary skill for you before participating in trading. We hope that the article about Olymp Trade FAQ is useful to you. Leave your questions below if you have anything unclear about this.