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  1. #1
    Rookie Member

    Withdraw My Funds Via a Credit Card !!!

    On a lot of these Binary Option Sites it says that I can withdraw my
    funds via a Credit Card? How does that work? Do they issue like their
    own Credit Card that they use to fill our funds with?

    Thanks.

  2. #2
    Junior Member nick_ross's Avatar
    No, they don’t offer you their own credit card. You could withdraw directly to the same card with which you deposit. It is like a refund process

  3. #3
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by mdwxl3 View Post
    On a lot of these Binary Option Sites it says that I can withdraw my
    funds via a Credit Card? How does that work? Do they issue like their
    own Credit Card that they use to fill our funds with?

    Thanks.
    It is exactly as nick_ross said. If u use 2 or more deposit methods then usually credit card withdrawal is restricted to the amount u deposit through credit card. You should read their deposit/withdrawal rules to understand what they offer to u.

  4. #4
    Veteran Member uj.forex's Avatar
    u can withdraw the funds on the same debit or credit card from which you deposited.... is there any problem u are facing ?

  5. #5
    Rookie Member
    Well, this is logical, the card u used for depositing u use for withdraw

  6. #6
    Specialist Member RCox's Avatar
    Quote Originally Posted by uj.forex View Post
    u can withdraw the funds on the same debit or credit card from which you deposited.... is there any problem u are facing ?

    Its actually not that simple in a lot of cases. many brokers have no problem accepting your money but if you want to withdraw back to your credit card (even the EXACT card you used initially), they will then make you go through a verification process. They say this is to ensure that "the money goes back to the right person." But that argument makes no sense, since it is going back to the same card. I do not have a high opinion of these brokers because it certainly looks like they are just trying to hold onto your money as long as possible. The verification process is not simple and address proof and more than one picture ID is required (a passport, AND a drivers license, for example). What if you don't need or have a passport? You have to go through the whole process of getting a passport just so you can withdraw your own money? Complete nonsense.

  7. #7
    Veteran Member uj.forex's Avatar
    @ Sokolacgrad

    Well it is logical because the debit or credit card you use is already linked with your bank account... the time u fund ur account from the card, that amount is deducted from the bank account... similarly, when u withdraw funds, they are deposited or credited in your bank account....

  8. #8
    Rookie Member
    Quote Originally Posted by RCox View Post
    Its actually not that simple in a lot of cases. many brokers have no problem accepting your money but if you want to withdraw back to your credit card (even the EXACT card you used initially), they will then make you go through a verification process. They say this is to ensure that "the money goes back to the right person." But that argument makes no sense, since it is going back to the same card. I do not have a high opinion of these brokers because it certainly looks like they are just trying to hold onto your money as long as possible. The verification process is not simple and address proof and more than one picture ID is required (a passport, AND a drivers license, for example). What if you don't need or have a passport? You have to go through the whole process of getting a passport just so you can withdraw your own money? Complete nonsense.
    Totally agree with you RCox.Absolutely unnecessary process as the card is one and the same. In my opinion you have to prove your identity before depositing not before withdrawing. The process is this way in most of the forex brokers. Ones your account is approved you could withdraw without any restrictions. Yes it takes time about 3-5 business days but it is automatic process without approvals and unnecessary emails and conversations.

  9. #9
    Rookie Member
    Quote Originally Posted by uj.forex View Post
    @ Sokolacgrad

    Well it is logical because the debit or credit card you use is already linked with your bank account... the time u fund ur account from the card, that amount is deducted from the bank account... similarly, when u withdraw funds, they are deposited or credited in your bank account....
    So if I withdraw to my Visa Credit Card, that is attached to my checking account, the funds will flow right through into my checking? Seems too easy

    I have not started trading binary yet as I want to do as much due diligence as possible before I put any money in, so forgive my ignorance, but I was sort of figuring that when you withdraw funds, they credit the balance of your credit card the appropriate amount, i didnt think that cash would flow right thru to ur checking, that would be aweosme! Can somebody confirm?

  10. #10
    Solid Member Peter Green's Avatar
    Quote Originally Posted by gwills24 View Post
    So if I withdraw to my Visa Credit Card, that is attached to my checking account, the funds will flow right through into my checking? Seems too easy

    I have not started trading binary yet as I want to do as much due diligence as possible before I put any money in, so forgive my ignorance, but I was sort of figuring that when you withdraw funds, they credit the balance of your credit card the appropriate amount, i didnt think that cash would flow right thru to ur checking, that would be aweosme! Can somebody confirm?
    Hi, gwills. I could confirm that your withdrawal will be received to your credit card balance. It will depend on your bank will it be directly transferred to the bank account or will stay in the credit card balance but it doesn’t matter for me. The important thing here is to find a trusted broker for which you will be a 100% sure that he will send you your payment independently of other factors. If you use a scam broker and make a good profit it could possibly refuse to pay you! So make your due diligence and select the best broker. You could find a lot of information on that subject here!

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