Online trading company eToro is seeking to improve users’ experience, so it has updated the way withdrawals are done.
Traders are now able to choose a destination payment method during the withdrawal process, out of the possible ones for the requested amount. Only available methods for the funds requested will be shown. If there are existing payable funding methods, traders will be directed to the page where they can choose one of them.
The screen also displays the last used currency for each payment method. If the same method was used with different currencies, it will be displayed several times with each one of them, so that a client can choose the one the client wants.
If a payable funding method exists, but a client wants to send funds to an alternative payment method, the client can simply choose an alternative method of payment (Bank transfer, PayPal, and others). You also have the option to choose by currency, and your funds will be converted to your choice from USD (since the eToro platform currently operates in USD only). If you don’t have a payable funding method, then you’ll be directed to a screen to choose an alternative method of payment.
You can see your withdrawal request on your Portfolio page – in the History tag here www.etoro.com/portfolio/history. You are able to reverse your withdrawal request while it is still “under review” should you choose to.
Let’s recall that eToro has recently enabled recurring deposits, an option to set up automated deposits to one’s account.
Traders get to decide the amount of money and the currency, and then schedule their deposits using a credit/debit card that has already been connected to their eToro account.
To enable the new feature:
- Go to Settings and click on Payments.
- Then click on the banner titled “Recurring Deposits”.
- Select the amount and currency.
- Choose one of the debit/credit cards connected to your eToro account.
- Select the frequency of your deposit, For instance, “Weekly” means a deposit is made once a week.
After selecting the frequency you have the option to customize the date and/or day of the deposit or accept the default option which is a monthly deposit occurring on the 1st of each month.
At the moment, all users in all clubs can set up recurring deposits, with the exception of users from the US. The minimum amount for setting up such deposits is 50 USD.