The task in brief
This guide explains how to move money from a bank account, a payment card or a digital wallet into your broker account, so you can start investing. It also compares these methods on availability, reversibility, name matching and currency conversion.
Each method behaves differently, so the right choice depends on where your money sits and which currency your broker account uses. Rules also vary by country and by provider. Treat the details here as general guidance, and check the provider's own deposit instructions before you send anything.
Before you start
A few checks will save time and help you avoid a rejected payment. Read them before you open the deposit section.
- Confirm that the name on your broker account matches the name on your bank account, card or wallet exactly.
- Check which currency your broker account holds, because that decides whether your money needs converting.
- If you have not opened an account yet, the account opening guide explains what the provider usually asks for.
Steps to fund the account
Work through these steps in order. Most providers use similar screens for each method, so the sequence applies across them.
- Open the deposit section of your broker account.
- Select the method you want to use.
- Read the account currency before you type an amount.
- Enter the amount you want to add.
- Review the conversion rate on the screen.
- Check that the sender name on the payment matches the account holder name.
- Complete any identity check the method requests.
- Wait for the balance to update before you place any order.
How the methods compare
A bank transfer is usually the most widely available option. Transfers often take longer to arrive than a card payment, and once a transfer has left your bank, it is generally hard to reverse. Ask your bank how it handles outgoing transfers before you send money.
A card payment is often the quickest route where the provider accepts it in your country. Availability depends on the type of card, your country and the provider, so some cards may not be accepted. Card payments can sometimes be disputed through the card issuer, but the rules and time limits differ between issuers.
A digital wallet can be quick, but only where the provider supports that wallet. Reversal rules depend on the wallet operator, and many treat a completed payment as final. The name on the wallet account also has to match your broker account name.
Currency and name rules
A name mismatch is a frequent reason a deposit is held or returned. Providers usually check that the person sending the money is the person who holds the broker account. This applies to every method, so use a funding source in your own name.
Currency conversion happens when the currency you pay in differs from the currency your broker account holds. The provider or your bank may apply an exchange rate with a markup, which is an addition on top of the market rate. Compare the rate on the deposit screen with the rate your bank or wallet offers, and read about the currency conversion cost in the glossary.
Name and conversion rules vary by country and provider. The provider's own terms, or your local financial authority, set out what applies to you.
What to do if a deposit fails
Start by checking the status in your deposit history, which usually tells you whether a payment is pending, held or declined. A pending payment often needs more time, so avoid sending the same amount again straight away. A duplicate can leave you with several open payments to recover.
If a payment is declined, compare the name, currency and account details with your broker account. If the names do not match, correct the source rather than trying to get around the check. Contact the provider and quote the reference from your deposit history.
If money has left your bank and does not appear, ask your bank to trace the transfer. Keep the reference number for every attempt so that each payment can be followed.
Funding options when comparing brokers
Funding options can decide whether a provider suits you before you invest anything. If card payments are not accepted in your country, or your wallet is not supported, you may need a different route. Check the accepted methods early, alongside how the provider handles client money.
Read the provider's deposit terms together with the guide to broker safety. For a wider view of providers and their funding options, the guide to choosing a provider for investing is a useful next read.