How Do I Transfer Funds from My eToro Account?
Opening an eToro account is only the first step in taking control of your investments. You also need to be able to move money out of your account. You can withdraw, or transfer, funds from your account to your eToro money account or another payment method depending on how quickly you need your funds with just a few clicks on your computer. eToro withdrawals are subject to a fee, and depending on the type can be instant or take up to 10 days to complete.
Investing sometimes requires transferring funds into or out of an account, and as an investor on eToro, you need to know how to move your money. How do you transfer funds from your eToro account? You can get more information on managing your account by contacting eToro investor support, and below are steps to moving money out of your account.
Moving Money Out of Your eToro Account
Transferring funds, also referred to as withdrawing funds, from your eToro account involves a two-step process outlined below.
First Step
The first step is moving the money out of the investment section of your portfolio.
- Open eToro's website and log into your account.
- Go to "Withdraw Funds."
- Key in the amount of money you wish to withdraw. Note, the minimum amount that can be transferred out is $30.
- Choose "Withdraw to eToro Money." This will be your default selection.
- Check your eToro money account to make sure the funds have been transferred. Most transfers take a few minutes to complete, but some transactions may take longer.
Second Step
After the first phase is complete, you are ready to transfer the funds from your investment account to your bank account.
- From your eToro money account, go to the "Cash" tab and select "Payments."
- Choose the account you wish to transfer funds to. You can also add a new account or payee if needed.
- Select the amount from your money account you wish to move to your bank account.
- Click "Continue."
- Enter a reference and select "Send."
- Review the confirmation that appears on the screen.
Most transfers from eToro to your bank account happen immediately; however, some transfers can take up to 2 hours to complete. Investors need to be aware that withdrawals are subject to a $5 fee for each withdrawal, and withdrawals in currency other than U.S. dollars can be subject to a conversion fee. You can also opt to withdraw funds to your credit/debit card, bank account or another payment method without placing funds into your eToro money account; however, this process can take anywhere from 2 to 10 business days to complete. Withdrawals may also be subject to taxes.
Moving money out of your account is a quick, easy process. For more information or assistance, contact eToro investor support.
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