Once you have upgraded to Live Stryk, you will notice 2 new features in the Cash tab: 'Deposit' and 'Withdraw'.
You can deposit and withdraw funds simply by going to your green % screen > CASH > DEPOSIT/WITHDRAW. Depending on your country of residence, you will have a different choice of payment methods. Once you have done a deposit, your card/bank details will be automatically linked to your account, which means that you can use those same details to withdraw again*.
Can I deposit and withdraw money whenever I want?
Yes. However, while deposits with a debit/credit card will be instantly reflected in your account*, deposits via bank wire and withdrawals usually take up to 5 working days to be fully processed.
Do I have to pay fees for depositing and withdrawing?
There are no costs when depositing/withdrawing funds inside the EEA (European Economic Area), however, if you deposit/withdraw using a non-EUR currency bank account, there could be costs applied by your own financial institution. In addition, card deposits are free of charge with the exception of cards issued outside of the EEA for which there is a transaction fee of 1.75%.
How much can I withdraw?
If you don't have any open positions, you can always withdraw your full account value to your own bank account. If you still have some open positions, you can only withdraw your available cash 'For Withdrawal'. Your invested amount and the ring fenced amount cannot be withdrawn. You can find your available cash 'For Withdrawal' in your Portfolio overview under the tab "Cash".
Say, you have deposited £100 of which £90 is invested into Stocks. We reserve £5 for the Ring Fenced amount. Your Available Cash is, therefore (100-90-5=) £5. Because you still have open positions, you can only withdraw a minimum amount of £10. If you now close all your positions, your available 'Cash for Withdrawal' will be £100. The Ring Fenced amount won't be applicable anymore when you don't have any open trades.
Is there a minimum amount to deposit?
Yes, this is £50. The minimum trade amount, however, is £10.
Where do I see my transactions in the app?
To see your past transactions, go to your green % screen > CASH > HISTORY > OTHER. Pending transactions will show directly under HISTORY, at the bottom of the screen.
*Only bank wire deposits need 2 - 5 working days to be processed, meaning that you will have to wait until the funds have reached your account in order to withdraw them again.
Questions? Drop us an email.