What is proof of payment?

Uploading proof of payment – evidence of a completed bank transfer – will allow us to credit your account before we receive the funds. This credit can be used to cover margin requirements and for other trading purposes. You may wish to provide a proof of payment when funding by bank transfer, as this process is not always instant.

However, you won’t be able to withdraw the funds or move the funds between your IG accounts until the funds have cleared.

If you’re new to IG, you’ll need to fund your account and start trading before you can upload a proof of payment.

What needs to be included for proof of payment?

All proof of payments should be in a non-editable format, such as a screenshot or online receipt. Please note that the transaction date, amount and your IG account number being stated in the reference are the most important information that must be in the screenshot.

Uploading a proof of payment

To upload a proof of payment, first log in to My IG.

Then go to the ‘live accounts’ tab and select ‘send proof of payment’. Follow the instructions on the screen and click ‘submit’.

Each proof of payment is manually processed by our credit team, which may take a few minutes. If you don’t see the funds in your IG account, try refreshing your browser and check your email to see if you have received confirmation of acceptance or rejection.

Why has my proof of payment been rejected?

Your proof of payment may be rejected for the following reasons:

Unacceptable proof

• The proof is editable
• The proof is missing one of the required items of information
• You have entered the incorrect information in either the proof of payment upload screen or on the transfer
• The date says ‘today’ or ‘immediately’
• The execution date of the transfer is not today’s date

Transaction amount

• Your proof may be rejected if the amount transferred is not in line with previous deposits
• Your base currency does not match your transaction currency*
  
  *If you’re transferring money in a different currency, please enter the converted equivalent in line with your IG account base currency.
  
• The transaction amount is below SGD 450 (exception given if you are in a margin call).

Other reasons

• The funds have already been applied to your account
• Potential duplicate*

*If you have uploaded multiple proofs for the same amount, you’ll need to upload the usual payment receipt along with a bank statement or ledger showing the multiple payments.

What happens if my payment is delayed?

The funds will be credited to your account on the understanding that the payment has been made to IG and will be received in a timely manner.

If we don’t receive the funds, we reserve the right to remove the credited amount. Where this results in positions being closed or debt incurred you will be liable for any negative balance.

If you become aware of any issue with your payment, please contact our helpdesk.