Limits and fees
|Fee||Free||£10/€12 or currency equivalent|
- Bank Transfer deposits are processed within 3-5 business days.
- Bank Transfer withdrawals are processed within 5-10 business days.
- Deposits will not incur a fee.
- Withdrawals by bank transfer will incur a £10 fee (or currency equivalent) unless transacted to mainland Europe in Euros.
- Smarkets will only accept deposits in the specific currency you have designated for your Smarkets account.
- Bank transfers should be completed through your online banking using the details and references provided on the Bank Transfer tab on the deposit page. You can also request for this information to be emailed to your account.
- All withdrawals from Smarkets are subject to our closed loop policy. Where multiple deposit methods have been used you will be limited to withdrawing up to the deposited amount until net deposits are satisfied across all methods.
- If your bank is in the Single Euro Payments Area (SEPA), you will need to provide your IBAN. If your bank is not in SEPA you will need to provide your account number. You can find out if your bank falls into the SEPA category here. The majority of countries in Europe, including the UK, fall into the SEPA category.
- Your Smarkets account must be verified. In this case this means you must have provided valid photo ID and your address must be verified either electronically or from a document you have provided Smarkets.