Withdrawals

Are you looking forward to applying for a withdrawal? Upon making a withdrawal request to MGC Logic, you’ll get your funds in your respective account once you meet all the requirements and adhere to the rules. There are several things that make up the withdrawals policy that you need to know.

Documents needed to complete a withdrawal

You’ll need to submit a proof of address, a copy of your credit card, and, a valid photo ID, especially if you are a first time client. A brief description of the documents is as follows:

  • Proof of address: you cannot claim that you made deposits without proving. In this case, you must provide a credit card or bank statement, or even a utility bill, indicating the actual transactions. Note however that these statements should be dated within the last six months, not beyond.
  • Credit card: each card you use to deposit your money is essential in the withdrawal process. Make copies of both the front and back sides of the cards used. Ensure that the copies clearly show the last four digits of the card.
  • Photo ID: acceptable photo identities include driving licenses, passports, and any other official government documents. Bring along any of them but remember that for it to be valid, it must not have expired. Expired documents are never accepted in withdrawals.

the withdrawal process

Once you’ve submitted all the above documents, the withdrawal process begins.

First, you’ll be asked to fill in a client information form. Fill only true and relevant information in the required fields.

Then, depending on the method you refer to withdraw, you’ll be required to fill in wire transfer or credit card details. You may prefer to use the credit card method because it doesn’t involve a lot of activities. With it, you only need to fill in your name and the last four digits of your credit card. On the other side, a withdrawal using the wire transfer method will require you to key in your name as stated in your bank statement; details of your bank including its name and address; the BIC or SWIFT code of your bank; and then your account number- if you are making an international transfer, you’ll write your IBAN number, not account number.

Finally, sign the withdrawal form and submit it. Patience is key because the approval of the withdrawal is not instant. Your service provider will have to review your form and this might take about three to five business days for the form to be approved. On approval, your funds automatically show up in your account.   Bottom line   If you have requested for a withdrawal, you must not interrupt with your account before the withdrawal has been approved. Whether you want to deposit or withdraw, it’s better off to wait for the approval. This is because the withdrawal will be automatically canceled if by any chance your account balance falls below the one stated in the statements you initially submitted for withdrawal. Most providers do not have an issue when the balance rises but as said before, keep off the account for a while awaiting approval.