Depositing and Withdrawing With Oanda (US Accounts)

Looking for others' experience here.

I see that OANDA has a number of methods of withdrawing and depositing.

So, with Debit Card, they say free. So does this appear as a normal DEBIT from a nonnetwork machine on your bank statement? Also, I have never gotten a credit on a debit card before. Is Oanda simply just reversing the charge refunding your money back?

As to Credit Card charges, is this a cash withdrawal on your credit card or is this count as a normal purchase?
What have people experienced?

And finally, as to ACH, does Oanda always charge for these kinds of withdraws?

Hey TradeSmarter,

Been with Oanda for many years.

So, with Debit Card, they say free. So does this appear as a normal DEBIT from a nonnetwork machine on your bank statement? Also, I have never gotten a credit on a debit card before. Is Oanda simply just reversing the charge refunding your money back?

I can only speak for Bank of America but I do not see why it would be any different with most banks. The Debit card is charged as a purchase. You are only allowed to withdraw money back on your Debit Card in the amount you deposited. So yes, same as a partial/full refund.

As to Credit Card charges, is this a cash withdrawal on your credit card or is this count as a normal purchase?
What have people experienced?

I have never deposited with credit cards. I do not have that option in my account. All I see is ACH, Debit Card, Check & Bank Transfer. However, as far as I know and have seen, it depends how the broker is labeled. I have seen folks get charged a cash advance fee and others not.

And finally, as to ACH, does Oanda always charge for these kinds of withdraws?

$20.00 for the 1st one each month. More if you do more than 1.

- Ric