Thread: Pepperstone UK withdrawls

Hello fellow traders expect you've had a Good Holiday.
Just out of interest, since the change around for European traders to Pepperstone UK I've not made any withdrawls from my account but I had a glance at the withdrawl section and I noticed they're still asking for a SWIFT number which was ordinary whilst trading with Pepperstone Australia but currently we are with UK and also the UK Banks, in this instance Pepperstone's UK bank is Barclay's, are inside the SEPA (Single Euro Payment Area) arrangement I was hoping to see a box to get an IBAN number. The difference between using a SWIFT number along with also an IBAN number can financially and in terms of transport time make a difference for the ordinary retail trader as the charges are substantially different, they are much smaller eg, Fees #5.00 for SEPA transports and timescale, same day or next working day for SEPA whereas SWIFT transports incurr higher prices at both ends and also timescale is typically 3-5 working days. I've assessed the Barclay's website for information about their fees and they have a surprisingly detailed section, to get a bank, on their Global Transfer Fees here's a link

https://www.barclays.co.uk/business-...onal-payments/

they also also have a desk of countries within the SEPA arrangement which also provides guie on the possible fee charged by the recieving bank dependant obviously on the country and the bank eg. Spain. The final column represents the recieving banks charge.


I really do have a question. Has some European trader recently effected a transfer and was ran under SEPA via IBAN number or was it completed via SWIFT.
Any clarifiion would be greatly appreciated.

OK. With no responses as yet, I decided to have another look to see exactly what I was missing, whilst waving the mouse pointer found this.
IBAN number is entered at the box BANK ACCOUNT NUMBER. There's a symbol with an Exclamation mark if you set your mouse pointer on it it tells you to put in your IBAN number here.

Then put in your SWIFT amount in the box marked SWIFT and Bob's your uncle.

Afterward, rather curiously, you'll be advised


which infers that Pepperstone UK's admin is completed 17,012.999 kms (10,571.387 miles) away on the other side of the world!!!! So don't bother trying to time your orders with UK Business and Banking hours . Ah well, so is the world of High Finance, Borderless and Timeless.

Originally Posted by ;

OK. With no answers as yet, I chose to have another look whilst waving the mouse pointer found this. IBAN number is entered at the box BANK ACCOUNT NUMBER. There's a emblem with an Exclamation mark if you set your mouse pointer onto tells you to enter your IBAN number here. picture Then enter your SWIFT number from the box marked SWIFT and Bob's your uncle. Then, instead curiously, you'll be advised picture which infers that Pepperstone UK's admin is done 17,012.999 kms (10,571.387 miles)...

Wish I could help Dee, but I have only used my card for withdraws from Pepperstone. When transferred to UK, while at the AU, had problems, worked well. Basically, they kept asking me to enter my card again and again even though the same card was on file since the account has been opened. . .caused delay after delay as they claimed they never received my information. Had to email the information to their support instead of use the site process.
Hope you perform this out.
Best, Josh

Originally Posted by ;

quote Wish I could assist Dee, but I have just used my card to get withdraws from Pepperstone. Worked well when moved to UK while in the AU, had problems. Basically, they kept asking me to enter my card again and again even though the same card has been on file since the account was opened. . .caused delay after delay as they claimed they never got my information. Had to email the information to their service instead of use the site procedure. Hope you work this out. Best, Josh

Hi Josh. No problem, the IBAN number item was stumbled out by me that it was concealed. I am curious to see if it is going to go with the prices through SEPA or through SWIFT with the prices. But I'm even more confused as to why we have to await AU admin after all the fuss was made about shing over to Pepperstone UK, they obviously just have an unstaffed Registered Office in London though I suppose that's no different than me having bought a few Off The Shelf businesses here in Spain.

Which begs the question why you had so many problems if all the admin is being done by the exact same people in precisely the same office as when we had been coping with Pepperstone AU, I believe Pepperstone UK is the set of trays on the opposite end of the desk.

I am a boring old sod, I know, but I'm a curious dull old sod, and so I looked up Pepperstone's UK office. 68-80 Hanbury St London.
Formerly known as Brittania House


Then recently changed to Bluebell Apartments. The Penthouse Apartment remains for sale.


Still the House of Second Home Shared Office Spaces.

Now compare this to 530 Collins St Melbourne

I can see why all admin company is conducted through Australia.

Originally Posted by ;

Hello fellow traders hope you've had a Great Holiday. Just out of interest, because the change over for European traders to Pepperstone UK I have not made any withdrawls in my account but I had a quick look at the withdrawl segment and I noticed that they are still asking for a SWIFT number which was normal whilst trading using Pepperstone Australia but currently that we're using UK and also the UK Banks, in this case Pepperstone's UK bank is Barclay's, are within the SEPA (Single Euro Payment Area) agreement I had been expecting to find a box to get an IBAN number....

yes. Their admin remains in aussie since Pepperstone is a AU public entitiy. (the comptroller of UK funds is in). UK office is just a registered office with all support for UK clients and also for correspondence to authorities. (many foreign brokers do this to increase their footprint) iban and fast makes no difference. Usually iban is an extension of ur bank account. Whilst swift is a postal code to your bank, which is needed for TT transfers. So generally u expect days to get a transport irregardless. SEPA doesn't apply for customer trust accounts, given that it is a foreign company with its HQ outside of the EU. Because it is their holiding entity if u google pepperstone UK, it leads u to the AU site.

I would be interested in hearing how much they end up charging for this bank transfer because Pepperstone UK is a broker I'm looking into and I'm also based in mainland Europe. My understanding from their site is that Pepperstone UK customers's funds are in a segragated account with Barclays UK rather than in Australia therefore SEPA must employ.

Originally Posted by ;

Pepperstone's UK office. 68-80 Hanbury St London. Formerly known as Brittania House image Then recently changed into Bluebell Apartments. The Penthouse Apartment is for sale. image Still the Home of Second Home Shared Office Spaces

well certainly this is only indiive, but those UK offices do not seem too much encouraging do they ?

I opened an account with Pepperstone AUS can we move it?

Originally Posted by ;

I would be interested in hearing how much they wind up charging for this bank transfer because Pepperstone UK is a broker I'm looking into and I'm also loed in mainland Europe. My perception from their website is that Pepperstone UK clients's funds have a account with Barclays UK and not in Australia therefore SEPA must employ.

As nobody responded to my query I chose to go ahead and draw some funds.
Withdrawl request was confirmed following day by Pepperstone that was Friday 29th December 2017,14.01pm, funds were in my account in Spain January 2nd 2018 11.30am.
For this date no charges are applied.
Looks like they arrived via SEPA as the transaction, despite a major world wide public holiday, took 1 working day.
Many thanks to Pepperstone and Barclays to get a speedy precise transaction.