While depositing money with BossCapital is simple, quick, and easy, there are a few things you need to know. Learn about the BossCapital deposit now!
How does the BossCapital Deposit work?
When you open an account with BossCapital, you need to deposit money in this account to start trading. The minimum amount you have to deposit is $200. You can use these methods to deposit money with BossCapital:
- Credit card / debit card,
- Electronic payment (ewallet), and
- Wire transfer.
These three payment options are far from equal. To make your later trading career easier and more successful, there are a couple of things you should consider before you make a deposit. Those things are:
Processing times vary greatly
Which method you use to deposit money into your account has great effect on how quickly your money will reach your account balance.
- When using a credit card or debit card, your money will be booked into your account immediately.
- Most electronic payment providers also allow for immediate deposits.
- Deposits via wire transfer, however, can take up to 10 days, depending on the customs of your local bank. You should at least expect five days for your deposit to process.
How you deposit determines how you withdraw
The method you use for your deposits influences the method you can withdraw your money with. Because money launderers often use online payment and withdrawal schemes with multiple credit cards to launder their money, you can only withdraw as much money with a credit card as you deposited with the same card.
All the money you deposited via wire transfer and electronic payment can only be withdrawn via wire transfer.
This is important to know before you deposit. When you anticipate that you might need money quickly at some point, you should keep the credit card withdrawal option open and deposit via credit card. When you know that you will keep a regular schedules of withdrawals and do not need money quickly, you can also deposit via wire transfer or ewallet.
Wire transfer uses different conditions
When using wire transfer for your first initial deposit, you need to deposit $500, not only $200 as with credit card and wire transfer. For most traders, this will be a minor point, since they plan on depositing more than $500 anyway.
If you are short on cash, however, and if you plan to open your account with less than $500 in it, you need to deposit money via wire transfer or electronic payment provider (ewallet).