Question about withdraws and company rules vs laws etc. - Do all brokers do this?

[Agent86]

Curious about withdraw laws in the US.
I ran into a sort of stumbling bloc with Oanda and withrawing funds.


Their policy seems to be that you can only withdraw funds in the order of the funded sources.
So this means you funded your account via debit card first, then later used your bank account, you could only withdraw funds to the debit card first up to the amount of the deposits, then you could withdraw to the bank account.

The problem with this is that if debit card expires then you have to jump through a lot of hoops to remove this card or sign a withdraw paper stating that the card is cancelled etc.

Is this a typical company rule or is this some sort of US law requiring Oanda to do this ?

Does this have to do with some sort of money laundering laws or something ?
I'm just curious why it was so hard to straighten this out in order to FINALLY get a bank withdraw.

Please advise
Thanks

 

[Etedus12]

IS it honestly US laws or Oanda laws cause I am totally getting lost with all this you cover here, by common sense - yes it's like that. But you probably really need to just wait out for new card and explain that old one is expired, moreover by date of exp of old they could track it too.

 

[Malaksen]

Next time you may try to register with that broker not with your personal account data but with something like offshore account and you will never have such problem later absolutely and possibly anyway. Let's do that math later clearly.

 

[fxoday]

Almost the company has similar rules regarding withdrawing money, if source fund from fasapay, and well use another payment tool, often rejected and must use fasapay to withdraw money, usually if get problem then contact support, you can try it

 

[OldManIan]

Although some other brokers actually tell me, for instance, that if you fund the account using a bank account in country X, and want to withdraw into your bank account in country Y, it's not a problem so long as the name on the account in country Y is the same name as your passport name. Best that you check with your own broker in every instance.