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Funding and withdrawals FAQs

Learn all about the funding and withdrawals process at City Index, with FAQs covering the accepted methods to fund your account, how long withdrawals take, what to do if your deposit is declined and more.
Funding and withdrawals
Funding and withdrawals

How much money do I need to deposit to open a City Index CFD or Spread Bet account?

While there are no minimum deposits with City Index accounts, we recommend that you deposit an amount which is enough to substantially cover the margin requirement of your first trade. It is prudent to also have enough equity in your account to sustain any significant moves against your position. 

The minimum deposit limit for each transaction depends on the funding method:

  • Card - 100 units of the base currency (GBP; USD; EUR; PLN; CHF)
  • PayPal - 50 units of the base currency (GBP; USD; EUR)
  • Bank wire - No min limit

How can I fund my account?

You can fund your account using the following: 

  • Debit card: Visa, MasterCard, Maestro and Electron 
  • Credit card: Visa, MasterCard 
  • PayPal 
  • Bank transfer 

Citibank cards cannot be used to fund accounts held with any spread betting provider. If you wish to fund from a Citibank account, you will need to do this by bank transfer. We do not accept cash payments paid directly into our bank account, and we are unable to accept third-party payments, any such transfers will be rejected and returned to the original source. 

Are there charges for making deposits into my City Index account?

Debit card: Free 

Credit card: Free (Your card issuer may charge for credit card deposits) 

PayPal: Free 

Bank transfer: Free 

Can I add additional cards to fund my account?

Yes, you can have a maximum of three cards registered to your account at any time. To add a new card, please use the funding link on the platform. 

Can I deposit funds in another currency?

Funds can only be deposited in the base currency of the account you’re funding from. 

How will I know when funds have added to my account?

Once funds have been credited to your account, you will see them available on your trading account. Please note we do not send a confirmation of successful deposits. 

My deposit was declined. What should I do?

Your bank may decline your transaction for a number of reasons, but we are not told why. These may include: 

  • Insufficient Funds 
  • Incorrect Expiry Date 
  • Incorrect CVC Number (the 3-digit security code on the back of your card) 
  • Invalid card number 
  • Out of date Address details 
  • Incorrect 3DS details 

To resolve this, you will need to contact your card issuer. 

How do I transfer funds out of my account?

To transfer funds out of your account, please visit the account section of the trading platform.

If you would like further instructions, please contact Customer Support using one of the options on our Contact Us page.

For compliance purposes, client refunds can only be returned to the original funding source. For example, if you deposit funds into your account via debit card, funds will be returned to you via the same debit card, which must be registered on your account. 

How much can I withdraw in one time?

Online, the maximum you can withdraw in a single transaction is £20,000. If withdrawing online on credit cards there is a limit of £20,000 in 24 hours. 

If you wish to withdraw more than the limits online, please contact our client management team using one of the options on our Contact Us page

The minimum withdrawal amount is £100, or all your available account balance (whichever is lower). 

Are there charges for making withdrawals?

No. Withdrawals are free of charge. 

How long do withdrawals take?

Please allow 3–5 working days for any card withdrawals. 

While domestic bank transfers are done in normally 1–2 working days, if your bank subscribes to the faster payments service it could be in one working day. 

What is my 'available for withdrawal' balance and how is it calculated?

The maximum amount you can withdraw is called your 'available for withdrawal' balance. You may withdraw all or part of your money from your account at any time, as long as it is not already committed to any open trades. If you withdraw all of your funds your account will still remain open for future use. 

Clients are allowed to withdraw any excess funds to any verified payment method*

*bank statement may be required in order to verify source of funding once card exposure is repaid in full.

What payment methods are not accepted for withdrawals?

A small number of credit cards (including a few from MasterCard and Visa) will not allow us to pay funds back to your card. If you are using one of these cards you will be notified when you attempt to make a withdrawal. If this is the case, we can arrange for your funds to be paid back to the bank account of your choice. 

To minimise the risk of card fraud we may also request some documentation from you before the bank transfer can be processed. 

You can withdraw money to any of your registered payment cards, but the card has to have already made a successful deposit. There are no fees for withdrawals back to a payment card. 

How does net deposit affect my ability to withdraw?

Your net deposit amount reflects any deposits carried out with that particular payment method. It is calculated by subtracting your total withdrawals from your total deposits for that payment method.

Net deposits are a facility we have in place to abide by a number of important financial regulations. We also use this for our own internal security measures to combat security issues – such as money laundering, card theft and fraud. 

The net deposit on any registered payment method must be at zero before you can remove that payment method, or are able to withdraw any excess funds and gains. 

In short, you can only withdraw funds back to the payment method from which they came unless all net deposits are zero. 


Let's say you have two cards registered and deposit £100 from Card A and £150 from Card B. This gives you a net deposit of £250. 

You place all that money on a trade that subsequently closes, leaving your account balance at £350. This means that you will need to withdraw £100 to Card A and £150 to Card B before you can withdraw the remaining £100.

Once those two amounts are withdrawn, the remaining balance can then be withdrawn to either card without issue.

Please note: Net deposits refer to deposits and withdrawals only. The net deposit figure is only affected by deposits or withdrawals to that specific payment method. 

I no longer have access to a particular payment method

If you have received a replacement for the previous payment method and already added it to your account, please contact us. We will require proof of identity in the form of bank statements before updating your account. We will be happy to remove the old version(s) for you. 

If you no longer have access to the previous payment method (and dependent on a number of routine security checks) we will need to add new bank transfer information for you. Please contact client management for further assistance. 

Which currencies can I deposit via PayPal?

You can make a deposit if you have a PayPal account in EUR, GBP or USD. The money will then be converted to your City Index account base currency. 

Are there any charges for making PayPal deposits into my City Index account?

Funding your trading account via PayPal is completely free if depositing in same the base currency. 

If the base currency of your trading account is not the same as the funds being deposited via PayPal, you will be charged as a conversion fee. You will see this amount before completing the deposit. In some cases, where applicable, your bank may handle this conversion fee, rather than PayPal. This conversion charge will be applied by your bank. 

Can I make my first deposit via PayPal?

Yes, you can make your first deposit via PayPal. 

Is there a minimum or maximum amount I can deposit via PayPal?

The minimum PayPal deposit amount is £10. The maximum you can deposit via PayPal per transaction is £50,000. 

How much can I withdraw via PayPal in one time?

The maximum you can withdraw via PayPal is £20,000 per transaction, or up to the amount deposited with PayPal, whichever is lower. 

The minimum withdrawal amount is £100 or currency equivalent or the balance of your account (whichever is less). 

You can only withdraw up to the same amount deposited via PayPal. You cannot withdraw any higher amount than has been deposited via PayPal. 

How long do PayPal deposits take?

Please allow up to 48 hours for any PayPal deposits. However, this process is usually instant. 

Can I deposit via multiple PayPal accounts?

No. You may only fund your account with one PayPal account. Please note the name on your PayPal account must exactly match the name on your trading account, otherwise the payment could be rejected.