Although it would be helpful if platforms automatically accepted all payment methods, unfortunately, every platform makes their own decisions in this regard. Degiro only accepts deposits via bank transfer. The deposits are then transferred directly to their bank. While this does partially help to simplify the process for all investors, it can also make it more complex for those who do not have bank accounts or do not wish to fund their investments using their bank accounts.

DEGIRO Deposit Methods vs. Competitors

	DEGIRO	IC Markets	XM
Bank Transfer	Yes	Yes	Yes
Debit/Credit Card	No	Yes	Yes
Payment apps	No	Yes	Yes
Cryptocurrencies	No	No	No

DEGIRO Deposit Fees

The Degiro platform does not charge for making deposits or withdrawals. This makes it one of the most cost-effective platforms in terms of investment brokers.

DEGIRO Deposit - Processing Time

Since Degiro only accepts deposits via one method, all deposits have the same processing time: 2-4 business days. Therefore, no matter how much money you deposit, it will be accessible within four days at the most.

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DEGIRO Account Currencies

All platforms accept different currency types. Therefore, you should be mindful of this before signing up. If you are not depositing in the currency requested, you must be willing to lose some of your money on conversion. Here is a closer look at the currencies Degiro accepts versus its competitors.

	DEGIRO	IC Markets	XM
Account Currencies	CHF, DKK, GBP, NOK, SEK, EUR, CZK, PLN, HUF	AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF	USD, EUR, CHF, AUD, GBP, JPY, HUG, PLN, RUB, ZAR, and SGD.

How to Deposit Money On DEGIRO? Step-by-Step Guide

If you are prepared to make a deposit into your Degiro account, the process is relatively simple. Just complete the following steps:

Choose an Account: You must have a bank account in order to make a deposit into your Degiro account. Although the process is considered highly secure, some still don’t want to run the risk of using their most important accounts. So, before you can begin the process, take some time to consider which account you will use to make the deposit.

Make the Transfer: Now that you have chosen your account, it’s time to make the transfer. You can only transfer funds directly into your account directly from your registered bank account using a manual bank transfer. Note: By hitting the "Deposit/Withdraw" button in the app, you can initiate the transfer process.

Wait for Confirmation: Now that you have completed the process, it’s time to wait for confirmation. This will take between 2-4 business days. However, if there are any issues with your deposit, you will be contacted by Degiro support to provide you with the details and allow you to correct the information.

FAQs

How do you hold your money with Degiro?

When you create an investment account with Degiro, they open a bank account (Cash Account) in your name automatically with flatexDEGIRO Bank. All the money you invest is then held in a segregated personal bank account with a personal IBAN. There are no costs for creating this account.

How do I open a Degiro account?

To open a Degiro account, simply need to download the Degiro app. In order to open an account, you must:

Be at least 18 years old.

Have a valid form of identification

Have a bank account held in your name in the SEPA zone.

Be an exclusive (tax) resident in any of the following countries:

Australia, Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, French Guiana, Germany, Greece, Guadeloupe, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Martinique, Mayotte, Netherlands, New Zealand, Norway, Poland, Portugal (including Azores, Madeira), Reunion, Romania, Saint Martin, Singapore, Slovakia, Slovenia, Spain (including Canary Islands, Ceuta, and Melilla), Sweden, Switzerland, and United Kingdom.

Does Degiro offer demo accounts?

No, Degiro does not offer demo accounts because you can open an account completely free of charge. This allows you to familiarize yourself with the platform before you start investing.

Can you open multiple Degiro accounts at once?

Yes, Degiro customers can open as many accounts as they want.

Team that worked on the article

Andrey Mastykin

Author, Financial Expert at Traders Union

Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.

He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.

Dr. BJ Johnson

Developmental English Editor

Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.

The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.

Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.

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