Withdrawal policy
Your money is yours; this page exists so that withdrawing it is never a surprise. It covers the available routes, the limits, the checks we must perform, the reasons a request can be delayed, and how to reach a person when something is not right.
1. Withdrawal methods and times
Withdrawals are paid by Faster Payments, normally processed within 24 hours of approval, or to Visa and Mastercard, which take 1 to 5 business days depending on the issuing bank. Faster Payments is the default route for UK accounts and the fastest option for almost everyone.
Business days mean Monday to Friday excluding bank holidays in England and Wales, and the clock on a withdrawal starts when a request is approved, not when it is submitted, because the two can differ by the length of a security check.
2. Limits
The minimum withdrawal is £20. The daily maximum is £150,000; Premium users handling larger liquidity cycles can request a higher ceiling, which is reviewed individually. These limits apply per calendar day in UK time, not per request, so several withdrawals on the same day share the ceiling.
3. The request process
You submit a withdrawal in the platform's payments section: amount, destination and, on first request, your bank details. The destination name must match your verified identity; withdrawals to accounts in other names are refused. You receive written confirmation when the request is submitted and again when it is paid.
4. Identity and security checks
The first withdrawal from any account requires completed identity verification. Requests that follow a recent change of password, email address or withdrawal destination carry a short holding period while we confirm the change came from you. These checks exist because withdrawal redirection is the single most common fraud pattern in this industry.
5. Why a withdrawal can be delayed
Legitimate reasons include: identity verification still in progress; a security review triggered by a change of credentials or device; a compliance review under anti-money-laundering obligations, which in certain cases we are legally restricted from explaining in detail; a destination account failing the name-match check; or an unusually large request requiring senior approval. Every delay other than a legally restricted one is explained to you in writing.
6. Fees
The platform charges no withdrawal fee. Your own bank or card scheme may apply its own receiving or currency charges, particularly for card refunds; those are outside our control and are set by the receiving institution.
7. Cancelled or reversed requests
You can cancel a withdrawal while its status is pending. Once submitted to the payment rail it cannot be recalled by us. If a payment fails because of incorrect details you supplied, the funds return to your balance when they bounce back, and we will ask you to confirm the corrected details before resubmitting.
8. Dormant accounts
An account with no login for twelve months is treated as dormant and incurs a £10 monthly inactivity fee, which is also listed on the fees page. Dormancy never affects your right to withdraw: a single login restores full access, and any remaining balance remains withdrawable at any time.
9. Closing your account
You can close your account at any time. Before closure, submit any final withdrawal you want; once the balance is zero, email [email protected] and we will complete the closure and confirm it in writing. Verification records are retained for the period required by law, as described in the privacy policy.
10. Problems with a withdrawal
If a withdrawal has exceeded its stated time, write to [email protected] with the request reference and we will reply with a factual status, not a template. If the answer does not resolve it, the formal route on the complaints page applies, including escalation to the Financial Ombudsman Service for eligible complainants.
11. One rule worth restating
No genuine delay ever requires you to pay a fee to release funds, and no one from Nextrade will ever ask for a payment to "unlock" a withdrawal. Any such demand is fraud; report it to us and to Action Fraud immediately.