How to withdraw money from BGL BNP Paribas: methods and costs

One of the most common fears about trading online is, can I get my money back? And even if that's a given, will I face any extra costs, delays or difficulties as I try to withdraw my uninvested funds?

BGL BNP Paribas is a trustworthy broker that honors all withdrawal requests, but the process is not the most convenient. Read on to learn about potential costs, waiting time or restrictions.

Withdrawal at BGL BNP Paribas is slow but you have several transfer options

Withdrawal at [Broker name] is slow but you have several transfer options

Gyula Lencsés, CFA

Gyula is a former analyst expert and Head of Content at BrokerChooser. With over a decade in finance, he led content creation at BrokerChooser and personally evaluated some of our 100+ listed brokers. He opened real-money accounts, executed transactions, and engaged with customer services, offering firsthand assessments. Prior to BrokerChooser, he managed mutual funds in wealth management, trading stocks, ETFs, bonds, commodities, forex, and derivatives. His goal: simplify the hunt for top brokers in a dynamic investment landscape.

Learn about our methodology

Gyula Lencsés, CFA

BGL BNP Paribas is one of many brokers I have tested throughout the years. I used my own money for trading - and then tried to get it back. Here's how it went:

• No worries - BGL BNP Paribas is a reliable broker that lets you access your funds any time.
• There are several ways to withdraw your money, including bank transfers.
• Withdrawal can be a bit slow, often taking 3 or more days.
• BGL BNP Paribas charges $0 for basic withdrawals, but some methods may cost more.
• Read our full review of BGL BNP Paribas for detailed funding and trading conditions.

First, let's see if BGL BNP Paribas is available in your country?

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Let me start with the good news: BGL BNP Paribas is considered a legit and trustworthy broker, where your money is in good hands, and you can withdraw it whenever you want to.

How to tell if a broker is trustworthy? In our view, a broker is considered legit if its operations are overseen by at least one top-tier regulator. At BrokerChooser, we only recommend such regulated brokers.

Unfortunately, the online trading industry is plagued by a large number of unregulated or scam brokers. Many of these simply refuse to return your money, or require outrageous percentage commissions before doing so. If you've heard about any broker that you're unsure about, check it against our scam broker list or discuss it in our Forum.

So how to actually withdraw funds from BGL BNP Paribas? At BGL BNP Paribas, you have multiple options to choose from when you want to withdraw money. The most basic of these is bank transfer. This is a common option that is available at virtually all brokers, and BGL BNP Paribas is no exception.

In addition to bank transfer, BGL BNP Paribas also allows you to withdraw funds to a debit or credit card. Many brokers don't offer this option, so this is a definite plus for BGL BNP Paribas.

Whatever methods you use, you may only withdraw money to bank accounts, cards or wallets that are in your name.

Withdrawing money from BGL BNP Paribas - a step-by-step guide

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Whatever method you use, withdrawals from a brokerage account are rarely instant. When withdrawing money from BGL BNP Paribas, it can often take three or more business days for the money to reach your bank account or card. This is a bit on the slow side compared with most other brokers, where withdrawal times can be as short as just one business day.

Strict withdrawal times are not the only factor to keep in mind when you need to retrieve money from your broker account. The most important thing is that you can only withdraw uninvested cash from your brokerage account. If all of your funds are invested, you need to close some or all of your positions first to make the necessary amount of cash available in your broker account.

Converting your assets to cash often takes additional time. For example, if you sell a stock, it will take another day (or most likely two) for the transaction to settle and for the cash proceeds to appear in your brokerage account.

So what I would normally do is think ahead depending on how urgently I needed the money. For example, if I needed $1,000 cash on Monday and it was still all tied down in stocks or some other assets at BGL BNP Paribas, I would probably

• log in to my BGL BNP Paribas account at least a week earlier, to sell stocks or other assets worth $1,000 (or maybe a bit more to cover any withdrawal fees; see next chapter).
• Then I would check back a day or two later (probably around Monday or Tuesday the week before I needed the money) to see if the asset sale has been completed and if the cash has appeared in my broker account.
• If yes, I would then initiate the withdrawal, so that the money arrives in my personal bank account or on my card (whichever applicable) by next Monday at the latest.

While depositing money to a brokerage account is free in most cases, this is not necessarily always true for withdrawals. But I have good news: basic withdrawal at BGL BNP Paribas is free of charge. See the table below for details and possible exceptions, and also how BGL BNP Paribas's fees compare to some of its immediate competitors.

Conversion fees

In addition to any withdrawal fees, you should also be aware of potential conversion fees. These usually apply if your bank account or card is denominated in a different currency than the funds you are withdrawing from your broker.

At BGL BNP Paribas, the following account currencies are available: EUR, USD, CAD, GBP, CHF, JPY, AUD, DKK, NOK, NZD, SEK.

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