withdrawals
The withdrawal process in Sumo Forex is as easy as the funding process. The client at any time may require withdrawing funds from his trading account. The process commences with filling out a form that contains the withdrawal request. If the request is made via the options of Credit or debit card, Netteller or Webmoney, then the client can expect the payback to the same account availed for funding. But the first and foremost condition is to fill up the withdrawal form. For a rapid and faster way of processing, the client is recommended to put up his request for withdrawal from the secure and safe client area.

Terms and conditions:

A first timer client has to keep certain terms and conditions in mind before filing a withdrawal request.

  • The processing of withdrawal commences before 1.00 GMT and the withdrawal requests received before the aforesaid time are supposed to undergo the process on the day of receiving the request. It is obvious that the withdrawal request received after the particular time will be rolled over to the next working day.
  • If the withdrawal concerns an International Telegraphic Transfer, the client has to pay the amount charged by the banking institution. The charge is at an approximate rate of 20 AUD which is deducted from the core withdrawal amount of the client.
  • In case of an international telegraphic transfer, the withdrawal takes around three to five business days. So if the client need not worry if he encounters any delay in receiving the withdrawn money.
  • If the bank transfer is domestic and does not involve any international transfer, there is no additional charge applied.
  • The domestic transfers take lesser time than the international telegraphic transfers. So if the client is making a withdrawal within New Zealand, he is likely to get back his money within the next working day.
  • If the client funds his trading accounts via the process of a credit or debit card, then the requested sum of withdrawal will be refunded back to the same credit or debit card.
  • If the client has made previous transactions through Moneybookers, he is recommended to withdraw the deposit through a bank transfer as the transactions done via Moneybookers are dealt with by Global Collect which does not allow a refund to the Moneybookers deposit.
  • The aforesaid condition is also applicable in case of a Webmoney transaction. This transaction is also processed and handled by Global Collect and it does not allow a direct refund to the Webmoney deposit. However, the bank transfers in this case may induce extra charges.
  • A withdrawal request through a third party is invalid and will not be entertained.
  • Every funding option has a minimal conditional amount barring which the withdrawal request will not be processed. The amount in Bank Wire transfer is 100, in a credit or debit card transfer is 50.

 
The client receives a confirmation once his withdrawal request is taken up for processing and will be constantly updated on the follow ups.