Exceptions to third-party transfers

As a general rule, Saxo does not allow third-party transfers as described in the article Understanding the restrictions on third-party transfers. It means that deposits into Saxo accounts are only accepted if the remitter is the owner of the Saxo account. Withdrawals from Saxo accounts are only accepted if the beneficiary is the owner of the Saxo account.

Nevertheless, some exceptions apply:

• An employer’s payment of pension contribution to an account in the name of its employees. 
• Deposits to an account in the name of a life insurance company made of the relevant life insurance policy holder. 
• Withdrawals from an account in the name of a life insurance company to the relevant life insurance policy holder or beneficial under the life insurance policy.

Saxo France, Saxo Belgium and Saxo Netherlands authorize third-party transfers in connection with: 

1. Gifts and/ or inheritance in the form of securities between first- and second-degree family members when (i) all fiscal requirements are met, and (ii) the family members reside in the same country. 
2. Securities as part of remuneration from an employer into the account in its employees' name. 
3. Incoming cash transfers from external Belgian and Dutch joint accounts to a single account based on a surname match only, applicable only on a case-by-case scenario.