Before doing transfers, please make sure that you do not have unintentional auto-investment setup in Mintos. You can do that by going to Auto Invest section. Normally, at the beginning it is empty so not anything to worry about.
Now you are ready to invest and choose Deposit/Withdraw/FX menu and select Deposit.
In the next step you are allowed to choose the currency. I have chosen EUR. There are other currencies available, however, personally I would not recommend doing that.
- Vast majority of the loans in Mintos are issued in EUR
- Due to other currency fluctuations you might lose your investment value
- Currency exchange (FX) is a an extra business for Mintos and you can lose your money doing the exchange. Usually loans in other currencies have higher interest returns, giving false impression that they are more attractive
Click on the preferred type of depositing which will bring up further details. I have chosen a bank transfer.
Next up, I needed to login in my bank account and fill an international money transfer.
I am using DanskeBank and funny enough it was not possible to Paste some of the details to fields of transfer form. Luckily, I could paste account number and the BIC code, rest I filled manually. Make sure to write your investor number in the given message field.
From previous experience this should cost me around 3 EUR for depositing and withdrawing the money. Probably there are cheaper ways out there and if you know one, please let me know.
Time for deposit to arrive
Normally, it should not be more than 1-2 business days. This depends on what type of deposit option you have chosen. In my case I have transferred Thursday afternoon, so expecting it to be there tomorrow or latest early next week.