ExpertOption Withdrawal

 

There are more and more requests asking for a description of the withdrawal process. At ExpertOption, this process is not as complex as it seems at first glance. Often, any confusion can be traced first of all, to the verification process, and then to the details of the withdrawal and how to fill in the forms. So to begin with, we’ll review the verification process, and after that we’ll describe how to make a withdrawal. And, of course, we’ll explore issues with withdrawal systems and the resulting misunderstandings.

Verification

Let’s start with reviewing why verification is required. First, it’s needed to confirm the identity of the client. To ascertain the client’s identity and confirm his existence, we must, first and foremost ensure the security of his account and then eliminate the possibility of monetary fraud. There are international standards for combating money laundering – FATF. Companies need to comply with them in order to avoid accusations of collusion in the creation of criminal schemes. Second, the movement of funds between a client and a broker occurs through intermediaries: banks, payment services and payment systems. All these intermediaries must display strict accountability to the financial regulator and require verifiable information from their clients regarding their identity. Thus, the client not only shows a document (in one form or another) to the bank or payment service when sending money to his brokerage account, but at his end the broker also must confirm the identity of the client with his documents when sending his funds back.

To pass verification, ExpertOption requires the following steps:

1. In the “Profile” menu, find the “Documents” section or click the “Verify info” button;

2. On the page that opens you can see the item “Passport” (ID) which has a rectangle for uploading documents. You must click on it and through the menu that appears upload a photo of the double-page spread of your passport with the information “by whom, when issued” and your full name and photo;

3. After the file is successfully uploaded to the site, click the “Send” button;

4. After uploading the passport, you will need to fill in the information on your address in the corresponding lines and click the “Save changes” button;

5. After you save your address, the address confirmation field will appear. In this field, you must upload any of the following selection of documents:

  • Scan a receipt for the payment of utility bills in your name;

The documents listed below can be uploaded only if there is no receipt for utility bills in your name

  • Scan any receipt for the payment of services with your full name and address;
  • Scan a bank statement showing the movement of funds in your account;
  • Scan certificates for your tax I.D. or personal pension account number.

The document cannot be older than three months from the present;

6. After clicking on the rectangle, the document selection menu appears which you then use to locate and upload the file. After you’ve selected  the document, you must then click on the “Send” button;

7. After you send the file with the passport scan to the server for review, the following message appears in the rectangle: “ Waiting for review”. This means that the file has been successfully uploaded to the server and is now available to the manager for his verification;

8. After all of the documents have been uploaded, the manager will check and approve them over the course of the workday. If there are any questions about a document, it will be rejected and a message explaining why will be sent via mail.

If a deposit was replenished using a bank card, you will be asked to upload a scan of the front side of the card. You can display only the first and last four digits, and hide the rest.

The basic requirements for uploading document scans are:

  • Legible inscriptions and high quality;
  • No corrections or handwriting on the document;
  • A complete scan/photograph of the document without cutting off the sides.

Withdrawing funds

After successfully completing verification, you can begin applying to withdraw funds. You can do this as follows:

  1. Select the “Withdrawal” section in the “Finances” menu and click on the big blue “Withdrawal” button;

2. After clicking the button, a window for selecting a withdrawal system appears where you can choose a payment system;

3. After selecting the withdrawal method (for example, Neteller), you must specify the amount and fill in the required information in the corresponding lines of the application;

4. After creating an application, you can keep track of it in the “Payment History” section. When the application is processed, its status will change to “Success,” and the ordered amount will be credited to your account.

So, as we see after replenishing the account by adding $50, passing through verification and completing an application for withdrawal, the money has come full circle and is now back in the account. Since the replenishment was being carried out as an example, transactions were suspended on the account.

It is worth taking note of the place in point 2 marked “*”. There are two additional conditions attached to the method used for replenishment:

  1. If the replenishment is made using a bank card, then the withdrawal of funds will be made to it until the amount of the replenishment is withdrawn in full: a replenishment for 3000 rubles; earnings of 7000 rubles from the top; 3000 rubles is withdrawn on the card, the rest can be withdrawn another way;
  2. If the replenishment was made with Webmoney, then the withdrawal will be made only to this payment system.

Payment systems

You can use the following payment systems to withdraw funds:

  1. Bank card (Visa, MasterCard, Maestro);
  2. Union Pay;
  3. Skrill;
  4. Neteller;
  5. Fasapay;
  6. Perfect Money;
  7. Qiwi;
  8. Yandex Money;
  9. Webmoney;
  10. PayWeb.

The company ExpertOption does not charge any commission for withdrawals. A commission may be extracted by the payment system for processing the transaction.

2 thoughts on “ExpertOption Withdrawal

  1. suppose the replenishment is made using debit card which has VISA word in it with the 16 digits in front of the card and 3 digits at the back of the card. How can withdrawal be made?

     

Leave a Reply

Your email address will not be published. Required fields are marked *

wp-puzzle.com logo