Unable to withdraw money from OANDA

Hi Guys,

I tried to withdraw money through bank transfer from OANDA last Friday, but the requests have been denied. I contacted the customer support, he said because I deposited money through a debit card in 2015 and I have to withdraw the deposited amount money to the debit card first. But the problem is that debit card has been expired in 2016. I got a new debt card with new card number. Then the support said he will send a form, I just need to fill the form claiming I don't have that card anymore. Until now, I haven't received any form from that support.

On this Monday, I contacted OANDA again through live chat. The gentleman told me that I need to ask my bank (Bank of America) to give a statement saying the debit card could not receive money anymore. I went to the bank today and the banker told me that card has been expired which is the proof the card could not receive money. He doesn't know what statement he can provide.

Now I got stuck here. I'm the owner of the account and the money is MY money. I have been trading forex on Oanda for a long time. I was satisfied with the experience on OANDA before and recommend it to a lot of people. I did make money from trading on OANDA. Now I cannot withdraw money from OANDA.

Anyone can give some suggestion or idea how I can get money back? I really appreciate it. Thank you!

Oanda does not have a minimum deposit, maybe try a max (one) 1 Dollar top up by wire transfer, that should open up the wire transfer withdrawal for you winnings, I think they have one free withdrawal per calendar month.

I had recently a cal from one of their reps as opened a demo, he told me that one can withdraw any amount by wire transfer if one has deposited by wire transfer and the normal max same amount than deposited by credit card, he got bit pissed off that I would not deposit 50 000 to start with, got the feeling I was wasting his time while it was my time he was wasting, kind of odd if you ask me, but reps or account managers have bad days as all humans do, its not much of a job.

Funny they giving you the run around, it is supposed to be a pretty trustworthy broker, long ping times, missing 7/8 of the ticks so not usable for me, but what i have read one of the more trustworthy for small time retail hobby traders like me.

Anyone else having issues withdrawing?

Are you using the word "debit" correctly? Debit cards should not expire. If you have an expiration date on the card, can you confirm that it is a credit card? If it is a credit card, the old card number is still linked to your account in most cases. Just call your bank to ask if that is the case. If it is, tell Oanda to proceed with the withdrawal (even if it is a small amount for testing) and then it should automatically go to balance of the new card. In your account statement, you will see the transactions that occurred on your old card and then new card.

Debits cards too expire, a function of card usage as opposed to bank amount. You could try depositing with a new debit card, trade 1 or 2 times then withdraw the 'new initial' amount and thereafter do a wire transfer for any other amounts. Hopefully that works!

I think there is a rule set by CC or debit card providers that a refund can not be bigger than the purchase, and brokers use the refund policy when you "withdraw", so depositing with a new debit card, you can only (again) withdraw up to the same amount that deposited with the new card, not more even if your broker wanted to.

Thank you guys. I would try a small withdrawal through the expired debit card to see if the money would go back to my checking account.

debit cards with visa/mastercard chips do expire. however usually upon expiry, the issuing bank will give u a new debit card with the same existing card numbers. TS probably cancelled/replace his card somewhere along the line, thus the change.

First time heard it happened!