An update to the process of external bank account registration

Please be informed that, effective 29 September 2023, we will discontinue supporting the manual registration of external bank accounts for end-clients which are currently being used for withdrawals. The primary reason behind this change is to enhance the protection of your end-clients' accounts and assets. Additionally, this is in line with compliance and security concerns. We aim to protect all accounts from potential abuse and fictitious account statements.

From 29 September onwards, when your end-clients need to register a new external bank account, please guide them to perform a micro-payment from the new external bank account to their Saxo account. After this step, the new account will be automatically registered in the system once the incoming cash transfer is booked with Saxo.

If you have any further enquiries, please contact the Payment Services via SaxoConnect (as shown in the image below) or get in touch with your account manager.