Estimated time to process a transfer of securities

The transfer of securities can take any time from 2 to 6 weeks; however, it might take longer in certain cases as it depends on the other broker/bank as well.

• For shares, bonds, and ETFs, the transfer should be settled in 15 working days; however, it can take longer in certain cases.
• For mutual funds, it can take up to 6 weeks to settle the transfer in the account; it can take longer in certain cases depending on NAV and other broker’s response time.

You can monitor the status of the transfer request using the track & trace system outlined below. If you encounter any issues or have questions, please contact your account manager by creating a case for Institutional Service. 

Monitor your securities transfer progress

Navigate to your client from the client tree and select portfolio > Transfers > Portfolio transfer

Here you can view two tabs: Ongoing and Closed

Ongoing

Here you will be able to view the transfers that are in progress in the following stages:

• Request submitted - time and day of when you submitted the transfer request
• Initiating transfer - our back office has registered the request and reached out to the counterparty (the other bank or broker)
• Processing transfer - the transfer has been agreed on and is being processed

Closed transfers

Here you will be able to view the transfers that have been

• Completed - if there is more than one completed transfer, then you will have to scroll down to view the other transfers that have been completed
• Cancelled transfers - in some cases, a transfer can be cancelled

Only some of the securities were successfully transferred

Your transfer request was partially completed, but one or more securities could not be transferred. The request has been closed. The reason the securities could not be transferred may be:

• Duplicate requests were made for the same securities.
• Your transfer request details could not be matched with the external broker/bank records.
• The securities are not ready to be transferred right now. Common reasons include incomplete corporate actions or the securities currently being used as collateral.

Please contact us by submitting an inquiry to Security Transfers in the Case Management module to find out more. You can start a new request from the portfolio transfer module in the platform.

The most common reasons for cancellation are:

You already have a pending transfer request for these securities+

Saxo received multiple identical transfer requests from you or from the external broker/bank, so we cancelled the duplicate request. We'll continue to process the original transfer request, and you can check the status in the Portfolio transfer module in the platform.

You have requested to cancel the transfer+

We have cancelled your transfer per your request. If you would like to start a new transfer request, please open the Portfolio transfer module in the platform.

The external broker/bank has not responded to Saxo+

Saxo did not receive confirmation from the external broker/bank within the required timeframe, so your request to transfer securities into your Saxo account was cancelled.

If you want to start over with a new request, you can go to the Portfolio transfer module in the platform. Follow up with your broker/bank to ensure they send the necessary reply.

Your transfer request details could not be matched with the external broker/bank records+

Saxo was unable to match all transfer request details with the external broker/bank's records, such as account ID, name of client or requested instruments to be transferred, so your request was cancelled.

The securities cannot be transferred right now. Common reasons include incomplete corporate actions, or the securities currently being used as collateral+

Your account or securities were not eligible for a transfer, so your request was cancelled. Common reasons include incomplete corporate actions or securities currently being used as collateral.

If more information is needed about your specific case, please contact us.

The required formal request has not been received from the external broker/bank+

Saxo did not receive a formal request from your external broker/bank, which is required in order to start a transfer out of your Saxo account, so your transfer request was cancelled.

Please note that Saxo cannot transfer securities without receiving a formal request from the broker/bank. Please contact the broker/bank to start the transfer process.

You have not responded to our requests for information+

Saxo did not hear back from you when asking for more information or clarification about your transfer request. We were therefore unable to process your request and have cancelled it.