How Can I Deposit Funds – FAQ

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Question: How can I deposit funds into my account? Can I deposit from a country other than my country of residence?

FXTM Brand does not provide services to residents of the USA, Mauritius, Japan (日本), Alberta, British Columbia, Quebec,
Saskatchewan, Haiti, Suriname, The Democratic Republic of Korea, Puerto Rico, and The Occupied Area of Cyprus. Find out more
in the Regulations section of their FAQs.

In order to deposit funds you need to verify your profile first.

  1. Open the Deposits page within the My Money section in MyFXTM.
  2. Choose your preferred deposit method and click ‘Deposit’.
  3. Select the MyFXTM account or wallet you wish to deposit funds into and complete the necessary fields.
  4. Confirm your deposit details in the next page.

Some additional steps may be asked from your payment provider.

You can watch the step-by-step guides on how to deposit in the How to videos available in the official website.

You can deposit from a country other than your country of residence, however you will need to send FXTM an to email explaining the reason for this.

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FXTM Brand does not provide services to residents of the USA, Mauritius, Japan (日本), Alberta, British Columbia, Quebec,
Saskatchewan, Haiti, Suriname, The Democratic Republic of Korea, Puerto Rico, and The Occupied Area of Cyprus. Find out more
in the Regulations section of their FAQs.

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Hercules.Finance is a financial education website powered by a team of Financial Specialists and IT experts, mainly introduce solutions of Forex, CFD and Commodity Investment, and a number of Payment Services. With more than 30 partnered companies all over the world, Hercules.Finance offers trusted and timely information for Investors and Users of the services. By referring to Hercules.Finance, you can find all latest News/Information, Financial Technical/Fundamental Analysis, Main/Exclusive Bonus Promotions of partnered companies and a number of Educational Materials of Finance. For the list of all partnered companies, please visit here. For more latest information of the website, please visit hercules.finance.

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How Can I Deposit Funds? – FAQ

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Questions About Your Loan Application

I am having trouble with bank verification. What should I do?

There are multiple reasons the bank verification step may not be successful. Below are the most common errors and tips for success:

  • Ensure you are using a stable Internet / Wifi connection.
  • If your banking institution is not listed, you can manually upload 90 days worth of bank statements through your online portal. Log into your OppLoans account, click Upload Documents on the right menu, choose your files to upload, and then submit.
  • Attempt logging into your bank account to ensure your banking login credentials are correct. Click through any promotions, updates, or personal verification to ensure you are able to view your account. When complete, please attempt bank verification again.
  • Ensure your online banking account has your current phone number and email for multi-factor authentication. This includes updating your security questions when logging into your account.

Most common errors –

Error Description Solution
Invalid / Incorrect Credentials User incorrectly entered their credentials Verify your credentials are accurate and attempt the process again.
Invalid MFA (multi-factor authentication) User incorrectly submitted answers or codes for multi-factor authentication. Re-enter the MFA selections, code, or question answers. Verify your information is up to date and accurate by logging into your online bank account.
Account Locked User’s account is locked. Most commonly due to entering credentials incorrectly too many times. Contact your financial institution or log into your online bank account to resolve the issue and unlock your account.
Account Not Yet Authorized for Online Use User’s online bank account is not fully set up at their financial institution. Contact their financial institution or log into your online bank account to complete setting up your account.
Account Not Supported / No Accounts Available The type of account with your financial institution or the type of MFA used is not supported. Attempt to connect with a different type of account, specifically the checking account that receives the majority of your direct deposits.
Institution or Service is Down, Not Responding, Not Available Bank or provider is temporarily down, preventing user from connecting their account. Most commonly due to website maintenance. Attempt to connect at a later time. Verify your banking institution is no longer down, by contacting or logging into your online bank account.

I received a mailer saying I was “pre-approved.” Does this mean I am approved?

No. A “pre-approval” is still subject to our verification of your identity and credit information. As stated in our mailer, we will not extend credit if you do not meet our pre-established criteria, meaning: (i) you are a U.S. citizen or permanent resident; (ii) are 18 years old (19 in AL and NE); (ii) reside in a state OppLoans operates in; (iv) have direct deposit for your income source (New Mexico residents are exempt from this requirement by law); (v) your verified income supports your ability to repay; and, (vi) meet our verification standards.

What is Bank Verification and why do you need it?

Bank Verification is a quick and secure process that provides OppLoans with a read-only snapshot of your recent banking transactions to help us verify your identity and financial information. By logging in with your online banking credentials, OppLoans is able to process your application faster, getting you a decision as quickly as possible. Your information is secured by industry-standard protections by our partners and OppLoans will never be able to view your login credentials.

I’m a previous OppLoans customer, but I have moved to a different state. Can I still apply?

If you were previously a customer of OppLoans and your account is in good standing, you may be able to submit an application if you moved to a state we offer products in. For more information about the product options and lender(s) in your state, please visit our Rates and Terms page.

What are the interest rates and fees associated if I receive a credit product through OppLoans?

The rates and terms for the products offered through OppLoans are specific to your state of residence. Please visit our Rates and Terms page to see rules specific to your state.

How do I know if I’ve been approved?

You will receive an email notification if your application has been approved, so please make sure your email is correct when you create your account!

Can I apply over the phone?

We do not currently accept applications by phone. However, our online application process is quick and easy—we promise! Just click “Apply Now” at the top of this page or visit www.opploans.com/register to begin the application on your computer, smartphone or tablet!

When will I receive my funds?

The receipt of your funds will vary based on the time at which your application was approved. You will receive an email notification once your loan is approved.

Monday through Thursday: If your application is approved before 9pm* CT from Monday through Thursday, you can expect your funds the next business day.

Friday Before 9:00 p.m. CT: If your loan is approved before 9pm* CT on Friday, you can expect your funds on Monday.

Friday after 9:00 p.m. through Sunday: If your loan is approved after 9pm * CT on Friday, on Saturday or on Sunday, you can expect your funds on Tuesday. If your approval day or deposit day happens to be a bank holiday, please allow for 1 extra business day of processing.

The exact time of funding depends on when your bank will post the ACH (Automated Clearing House) credits to your bank account. If you experience a delay, please reach out to your bank directly.

*Ohio customers, please note: the time cut-off will be 8pm CT instead of 9pm CT.

Do I need to send in any documents?

There are some instances where proof-of-income is required prior to your application being approved, including:

  • If you receive alimony
  • If you receive disability benefits
  • If you receive social security benefits
  • If you reside in IL or NV a paystub is required

Proof-of-income may include a government benefits award letter or a recent bank statement displaying regular deposits. Alimony, child support, or separate maintenance income need not be revealed if you do not wish to have it considered as a basis for your ability to repay. Please review our Rates & Terms page for more information about regulations in your state.

Do you have any requirements I need to meet in order to submit an application?

In order to submit an application that our underwriting can review, applicants must:

  • Reside in one of the states we operate in
  • Be at least 18 years old (or 19 in Alabama and Nebraska)
  • Have a regular source of income (Income can be from employment or from benefits including Social Security, Disability, etc. Please note: alimony, child support, or separate maintenance income is optional to include)
  • Have a checking or savings account
  • Receive paychecks through direct deposit (Due to state regulations, New Mexico residents are exempt from this requirement)

How much can I borrow?

Consumer products offered through the OppLoans website range from $1,000 to $4,000, but your eligibility will depend on your state of residence, your income and ability to repay, and your creditworthiness. For more information about the product options and lender(s) in your state, please visit our Rates and Terms page.

Am I eligible to apply for a loan?

To qualify for a loan through the OppLoans website, all applicants must:

  • Live in one of the following states: Alaska, Alabama, Arizona, California, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, or Wyoming.
  • Be at least 18 years old. (19 in Alabama and Nebraska)
  • Not presently be a covered borrower as defined by the Military Lending Act (“MLA”). Due to the changes in the Military Lending Act effective October 3, 2020, the products OppLoans offers are not available to applicants listed as Covered Borrowers in the Military Lending Act database, including qualifying active duty service members and their dependents as defined in 32 C.F.R. § 232. However, FinWise Bank offers additional loan products through their other partners which covered borrowers may be eligible for. Please see follow this link to see further eligibility requirements for those products.
  • Have a regular source of income. If your income is from employment, you have been working for your current employer for at least 3 months.
  • Have a traditional bank account in your name with 90 days of history.
  • Receive their paychecks through direct deposit. (Due to state regulations, residents of New Mexico are exempt from this requirement.)

How will my loan be funded?

We work hard to offer you a quick and convenient process. Once your application is approved, funds are typically deposited in your account as soon as the next business day. The actual time it takes the funds to appear in your account depends on your financial institution.

Generally, if your loan is approved before 9pm* CT from Monday through Thursday, you can expect your funds the next business day. If your loan is approved before 9pm* CT on Friday, you can expect your funds on Monday. If your loan is approved after 9pm * CT on Friday, on Saturday or on Sunday, you can expect your funds on Tuesday. If your approval day or deposit day happens to be a bank holiday, please allow for 1 extra business day of processing.

The exact time that funds become available will depend on your bank. If you experience a delay, please reach out to your bank directly.

*Ohio customers, please note: the time cut-off will be 8pm CT instead of 9pm CT.

Depositing funds

Use your computer to deposit and it should work right away!

Clear temporary internet files (cache and cookies) from your browser. To do this, press CTRL+SHIFT+DELETE, choose the time period ALL, and select the option to clean. Refresh the page and see if anything changed. For complete instructions, see here. You can also try using a different browser or a different device.

Deposits might be declined if you entered the wrong 3-D Secure code (the one-time confirmation code sent by the bank). Did you get a code via SMS message from your bank? Please contact your bank if you didn’t get one.

This might happen if the “country” field is empty in your information. In this case, the system doesn’t know what payment method to offer, because available methods differ by country. Enter your country of residence and try again.

Some deposits might be declined by your bank if they have restrictions on international payments. Please contact your bank and check this information on their side.

You are always welcome to make deposits from an e-wallet instead.

You can easily register with any of them online for free, and then use your bank card to add money to the e-wallet.

You can only set the currency once, when you make the first deposit attempt.

You will not be able to change the currency of your real trading account, so please make sure you choose the correct one before you click “Proceed to payment”.

You can deposit in any currency and it will be automatically converted to the one you chose.

IQ Option company is not able to debit your account without your authorization.

Please make sure that a third party doesn’t have access to your bank account or e-wallet.

It’s also possible that you have several accounts on our website.

If there’s any chance that someone got access to your account on the platform, change your password in the settings.

You are welcome to deposit using a debit or credit card (Visa, Mastercard or Maestro) or an e-wallet like Skrill, Neteller, Webmoney, and other e-wallets.

Choose your payment method here

The minimum deposit is 10 USD/GBP/EUR.

Many of our traders prefer using e-wallets instead of bank cards because it’s faster for withdrawals.

And we have good news for you: We don’t charge any fees when you make a deposit.

Recently, this problem has affected not only you but other traders as well. The problem was caused by the Neteller administration when they attempted to categorize their wallet into different accounts for storing money, such as purchasing goods, online payments, gambling and non-gambling purposes. For some reason, our company has been placed under “gambling purposes” in the Neteller wallet. So in order to complete a transfer to our platform, you need to have money on your gambling account in Neteller. Please transfer money within Neteller and try making a deposit from the gambling account. It should go through after that.

You can use only Mastercard to make a deposit into a gambling account.

However, please be aware that IQ Option has no relation to gambling. We have contacted Neteller to resolve this issue and place payments to IQ Option under a different category of payments.

For Skrill and Neteller, starting from November 28, please check the country where your account was registered in the payment system. If the account country in Skrill and Neteller is different from the country where IQ Option account is registered, there might be some issues with depositing and withdrawing funds. In order to prevent them, please contact the support service of your e-wallet.

Your deposit attempt might be declined because of the wrong Neteller security code. In this case, you need to retrieve the code from your Neteller account as shown on the screenshot. You will receive a new code by email (each code is valid for 24 hours only). Make another deposit attempt entering your Neteller email address and the new security code. Payment should go through.

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