Why did my deposit fail?

There are many reasons why a deposit might fail. For Visa and Mastercard, this could be because incorrect card details were provided.

Both Verified by Visa and Mastercard Securecode request a One-Time-Pin (OTP) to complete the transaction, which will be sent to your mobile. If you don't receive the OTP, contact your bank to check whether your card has been setup for Verified by Visa or Mastercard Securecode, or if there are any other issues with your card.

Sometimes banks may deny debit or credit card transactions because of the nature of the service we provide. They may view our service to be something that we are not. Please contact your bank and ask if they allow Miscellaneous Transactions to International Forex Brokers, as they may be denying the transaction due to their internal policies. You can ask them if they specifically accept transactions with the merchant code 6211: Security Brokers and Dealers, as a lot of banks block transactions with institutions that are assigned this code.

Another reason for the transaction being declined can be that you have exceeded a relevant funding limit on your card. This includes daily, weekly, and even monthly transaction limits which you may be unaware of. There may be funding limits for specific activities or purchases which have their own funding limits, and your bank may be able to tell you more about this. Further, your bank may be classifying the transaction as a cash advance rather than as a purchase, and so you may not be able to fund the amount you are specifying via your card since your bank has a limit on how many cash advances and the size of the cash advance that they will allow. Please contact your bank to check if they are classifying your funding attempts as a cash advance rather than as a purchase, and ask what your cash advance limits on your card are.

For Paypal, this could be because an incorrect account number, email or identifying code was entered. It could also be because there are insufficient funds on the account. Your payment provider will be able to confirm what the issue is.

If you're still experiencing issues contact funding@pepperstone.com or use our Live Chat service and we'll be happy to assist.