The prestige Option withdrawal methods are free, easy, and don’t require a minimum withdrawal amount – the perfect combination. To make a valid withdrawal request, however, there are a few things you need to know.
In this article, you will learn:
- Which withdrawal methods Prestige Option offers,
- The advantages and disadvantages of each withdrawal method, and
- How to verify your withdrawal method.
With this knowledge, you will be able to make a successful withdrawal from Prestige Option.
Which Prestige Option withdrawal methods are there?
‘You have these options to withdraw money from Prestige Option:
- Credit card / debit card, and
- Wire transfer.
Both withdrawal methods are free, and there is no minimum withdrawal amount, which is a great advantage when compared to other brokers that often apply a fee and require you to withdraw at least $100 or more.
Which method should I use?
Each of Prestige Option’s withdrawal methods has its advantages and disadvantages:
- Credit card withdrawals are limited to the amount you deposited with the same credit card. This means you can only withdraw as much as your initial investment via credit card, and you have to withdraw your profits via wire transfer.
- Wire transfer withdrawals can only be sent to a bank account that is in your name. If you want to send money to your wife, for example, you have to send the money to yourself first, and the make another wire transfer to your wife.
Because of these two rules, choosing your withdrawal methods begins when you make your deposit. Unless you deposit your money via credit card / debit card, you will have to use wire transfer for your withdrawals. If credit card / debit card withdrawals are important to you, you have to deposit via credit card, too.
Additionally, you should consider that your withdrawal via credit card is limited to the amount of money you deposited via credit card. Sooner or later, you therefore have to use wire transfer. To have the option of credit card withdrawals available when you need money quickly, we recommend to use wire transfer for scheduled and regular withdrawals.
How to verify your withdrawal
To complete your withdrawal request, you need to provide Prestige Option with three documents that clearly identify you as the person making the withdrawal. While this procedure means a little extra effort on your part, it effectively guarantees that nobody can steal money from your account and that Prestige Option can’t become a victim of money launderers and other criminals – a double profit for you.
Here is what you have to do to validate your account:
1. First, get these documents:
- A government-issued ID with your picture and an expiration date. This can be your passport, your driver’s license, or any document that your government issued.
- A proof of residence. This can be anything that proves that you do not just have the same name as the account holder, but that you also live in the same place, and therefore must be the same person. A utility bill or bank statement will do, or a document from a notary. These documents can’t be older than three months.
- The credit card you used. If you want to withdraw money via credit card, you need to prove that the card you want to use is actually yours. This helps to prevent money laundering.
2. Take a picture of each of these documents:
- For your ID, take a picture of the front and the back of your ID. For your proof of residence, photograph as much of the document as necessary. If in doubt, photograph the entire document – it’s better to be safe than sorry.
- Photograph your credit card front and back, too, but black out the CVV code and the first twelve digits of your credit card number. The goal is to make sure that no customer service member can steal your identity, but to enable them still to verify your credit card.
3. Upload the pictures to your Prestige Option account or send them via email to the Prestige Option customer support.
All in all, this process seems a lot more complicated than it actually is. Taking a few pictures and sending an email should not take your more than five minutes. Additionally, you only have to complete the process once for every withdrawal method. This means, once you have verified your credit card, you never have to verify it again.
Prestige Option will process your data within 48 business hours, and send your money on its way once they are sure that it will safely arrive in your hands and not in the hands of some thief.
The Prestige Option withdrawal methods offer a balanced field of withdrawal methods. To make the most of your withdrawal, you should consider your preferred withdrawal method with your deposit already. We recommend to always deposit via credit card, and you will have the full array of withdrawal methods at your service when you need them.