Frequently Asked Questions
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General
What makes Miraltabank different?
Miraltabank is a unique bank committed to combining new technologies with the know-how of professionals with extensive market experience. Since becoming a bank, now supervised and overseen by the European Central Bank and the Bank of Spain., we are unable to raise funds directly from the public as a banking liability
Does Miraltabank have a physical office?
We have our headquarters in Madrid, Plaza Manuel Gómez Moreno, 2, 17A floor. Edificio Alfredo Mahou 28020 and a delegation in Barcelona, Passeig de Gràcia, 74. 08008. If you wish to be attended in person, please contact your assigned manager or info@miraltabank.com to request an appointment.
Is Miraltabank an independent entity?
Miraltabank is an independent entity, as Rentamarkets already was. Miraltabank has an unswerving commitment to open architecture and the top investment products for sale in Spain
Is Miraltabank a supervised entity?
Miraltabank is regulated and supervised by the Bank of Spain, the CNMV and the European Central Bank. Its transformation into a bank strengthens the regulatory framework to which Miraltabank is subject as banking regulations are more stringent in aspects such as prudential requirements and reporting to the regulator.
What guarantees does Miraltabank offer?
As an institution regulated by the Bank of Spain and the European Central Bank, Miraltabank offers coverage from the Deposit Guarantee Fund up to 100,000 euros. Our current solvency ratio is 20%, one of the highest in the Eurozone.
Can I apply for credit or debit cards with Miraltabank?
We will not be offering credit or debit cards.
Will I have a cash account at Miraltabank?
Our products and services will be linked to a demand account that will be used for all transactions related to the services provided. It will not be a regular payment account and, therefore, cannot be used to pay bills by direct debit or make payments to third parties.
I need to speak to an operator, where do I contact Miraltabank?
View all the options on the “Contact” section of our website or by calling +34 910 888 090
Opening an account at Miraltabank
How do I open an account at Miraltabank?
Please visit this page to open an investment account with Miraltabank: https://www.miraltabank.com/onboarding. Ensure you have your ID card and mobile phone at hand. We will ask you for your personal details and documentation to verify your identity and address. Miraltabank also offers the possibility of opening joint accounts. If you wish to open an account in your company’s name, please submit a corporate account application. Please contact us if you have any questions about any of Miraltabank’s accounts.
What products can I purchase?
You can consult all the options through the “Contact” section of our website or by calling +34 910 888 090
You can contract the following products:
– Versa: Portfolio Management (To access)
– Investment funds: Operate only investment funds (To access)
– Broker: gives you the possibility of operating with various products (equities, fixed income, investment funds, derivatives, forex, CFDs…) (To access)
In which countries can you operate?
Can operate in most international countries
What type of account can I open?
Miraltabank gives you the possibility of opening an individual, joint or legal account (corporate account).
What is the minimum to open an account?
Depending on the product you operate:
– Versa: €25,000
– Investment funds: There is no minimum required to open an account, but there are funds that require minimums which are established by the manager.
– Broker: No minimum is required to open an account. Within the operable products, they do have minimums, which you can see on the platform.
What rates does Miraltabank offer?
You can find our rates by clicking the link below. If you have any questions about this, contact Customer Service or by email at comercial@miraltabank.com
In what currencies is it possible to open an account?
At Miraltabank it is possible to open an account in euros (€) and dollars (USD).
Can I have an account in different currencies?
Yes, you can open a main account in euros (EUR) and from the same open a subaccount in dollars (USD). If you want more information contact info@miraltabank.com
When I have an account with two currencies, if I place an order, does the platform automatically choose which account to trade in?
No, the platform does not choose where to operate, so in the transaction slip you must choose at the top which account you operate in, whether in the main account or in the subaccount. By default, the main account usually leaves
How long does it take to open an account?
If all the documents you provide us meet the specified requirements, your request should be processed within 2 business days. Make sure you submit the correct documentation to avoid delays.
How many accounts can I have with Miraltabank?
As an individual, you can only have one individual account with Miraltabank. However, you can also open a corporate account in the name of your company or a joint account, both in addition to your individual account.
Can I open accounts for my children?
You need to be at least 18 years old to open an account with Miraltabank. Therefore, if your children meet this requirement, they should open the account themselves by following the opening process at https://www.miraltabank.com/onboarding. If the children are minors, they must have an authorized person on the account.
How many people can open a joint account?
Joint accounts can be opened by two or more account holders. If you want to open an account for two owners you can do it online, if it is for more than two people you must contact info@miraltabank.com
Can I open a corporate and individual account at the same time?
With Miraltabank you can have a corporate account and a separate individual account at the same time. To do this, you will need to complete two different applications and provide the corresponding documentation.
Where can I consult the contracting conditions on the platform?
The contracting conditions for all available instruments can be found in the “Account” tab, in “Trading Conditions”.
Does Miraltabank report my earnings to the tax authorities?
Miraltabank does not advise on tax matters. If you make the withholdings and communications required by current regulations, please consult the article in our “General Conditions”.
Will I receive interest on my account with Miraltabank?
No, with your Miraltabank account you will not receive interest.
Can I change the currency of my account?
To change the currency of your account you will need to open a subaccount in the currency you want. If you have any questions, please contact us by email or phone at +34 910 888 090.
I have forgotten my password, how can I get a new one?
If you do not remember your password, you must enter your username or ID in the section “Did you forget your access password?” and they will send you an immediate email to generate a new password. If 5 minutes have passed and you have not received any email, please contact customer service by calling +34 910 888 090 or by writing to comercial@miraltabank.com.
Do I need any requirements to operate in the American market?
Yes, in order to operate in the American market you need to complete the W8BEN (natural person) or W8BENE (legal entity)
What is form W-8BEN?
It is a form that gives you the right to have a lower tax rate on US dividends and above all, it is covered in the communications to the IRS of the returns.
How do I activate W-8BEN?
To activate the W-8, the client must fill out the forms that can be downloaded by clicking Legal Form oIndividual Form After filling them out and signing them by hand, you must send it by email to info@miraltabank.com
When will I get the tax withholding reduction at source?
Under normal conditions, it usually takes about 72 hours, but it will depend on the W8BEN input volume. In any case, your manager or the Investor Service and Support department informs you that you are already actively trading in US stocks.
How much does the tax withholding reduction service cost?
Is free.
What happens if I do not provide the W-8BEN?
If you do not provide this form, you will not be able to benefit from a lower tax rate (15%) and will be charged $80 per year/account at the time you receive your first dividend.
Does W8 expire?
Yes, it expires after 3 years. You must contact your manager or the Investor Service and Support department again and fill out the form again.
Managing your account
How can I remove myself from the email notification list?
To unsubscribe from the email notification service, you can click on the “unsubscribe” link that appears in all messages you receive from Miraltabank. Please note that we will continue to send legal and corporate event notifications even if you have unsubscribed from the system, as Miraltabank is obliged to notify its clients of any legal issues.
My email has been hacked. What I do?
You must call the Miraltabank Customer Service department at the telephone number provided on the website, and declare that your email account has been hacked. Once your email has been modified, your password can be reset.
How do I cancel an account with Miraltabank?
To cancel a Miraltabank account you must contact our commercial department by sending an email to the address comercial@miraltabank.com
I have forgotten my login information
If you have forgotten your username, send an email to the address comercial@miraltabank.com. Please note that you must send the email from the email address you associated with your contract. You can also call the Miraltabank Customer Service number, and the information will be sent to you by email.
What is the security level when I access my account?
With Miraltabank you only need a Miraltabank ID and password to access all our products. Miraltabank applies the highest industry standards for information protection, and all customer information is encrypted by a 2048-bit asymmetric key algorithm that ensures the security of all your personal information.
Can I change the ownership of my account?
No, it is not possible to change the ownership of an open securities account.
How can I manage the authorized members of my account?
To add/remove/modify those authorized for an account, contact the Miraltabank commercial department.
How can I modify the data associated with my account?
To modify your profile data you must do so from the Miraltabank platform, in the “Global Position – My profile” section. Once all personal data has been modified, you must click on the “save data” button.
How can I find out the email that I have associated with my account?
To know the email that is associated with your account, you must access thel Miraltabank Client Area. The “My profile” section contains all the data we have registered for your account.
Can I receive tax advice from Miraltabank?
No, Miraltabank does not advise on tax issues. Clients are advised to seek advice and advice from their external tax advisor.
Do I have to present Form 720 for the 'Declaration on assets and rights located abroad'?
No, it is not necessary to present form 720 for your securities account opened at Miraltabank, since your account is opened in Spain.
Why do I need the LEI code?
As of the new MIFID II regulation of 2018, all legal entities must have the LEI code in force to be able to operate in the financial markets. It has an expiration of one year and at the time of renewal it must be sent to us as soon as possible. comercial@miraltabank.com
How do I change my email?
To update your email account, you must send a letter to the email address comercial@miraltabank.com in which you indicate your previously associated email, the future email you wish to establish and a copy of your ID.
Operation on the investment platform
How are modules linked on the platform?
On the Miraltabank platform you can link modules to change the instrument displayed in several modules together. Generally, you would link the trading modules, charts, and the news module to a Price List (Watchlist) and change trading tickets, charts, news, etc. to the instrument selected in the Price List. Various link channels are also available and you can have multiple Price Lists controlling different modules on the platform.
To link modules, right click on the desired module header and select “Linking Modules” and then the color group you want to link from the submenu. It should be noted that the bind modules option also works across views, so all modules in all views bound to the same channel will change at the same time. When changing the instrument on a chart using a link to another module, only the instrument will change and the studies and period of the selected chart will remain.
To unlink modules entirely, right-click on the header of the module you want and select “Unlink” from the submenu.
Can I log into my account with more than one platform simultaneously?
For security reasons, you cannot log in to more than one Miraltabank platform simultaneously. If you log in to another Miraltabank platform with the same ID, the system will send a notification and force you to log out of one of the two platforms.
How many charts can I open on the Miraltabank Platform?
With the Miraltabank platform you can display 4 graphs simultaneously on your computer, 2 graphs if you are on your tablet and 1 graph on your mobile phone. On your computer you can also have all 4 graphs on one screen and expand one graph across the entire graph area.
How do I change the language of my platform?
The platform language settings can be changed as follows: Operation settings; Region and Language (in the application language).
How do I add the Miraltabank platform as a web application to the home screen of my Android phone?
Simply access the platform on your mobile phone from the Chrome browser on your Android.
Once in your account, go to “account summary” and follow these steps: Selecting the settings icon will show you a menu that will allow you to install the platform as an application by selecting “add to home screen”. When you choose to “add” the platform, it will install as a web app on your Android device.
Does Miraltabank offer an economic calendar?
Miraltabank offers a free, customizable economic calendar so you can stay up to date with economic data releases and corporate events from around the world. The economic calendar is available on the platform, under the News and Analysis menu.
How can I see the positions I have closed on the day?
In order to check and view the operations you have carried out during the day, you must access the “Account” – “Others” – “Activity History” section. We inform you that in turn, the operations appear the next day in the “Account” – “Historical Reports” – “Operations” section.
Can I request an instrument to be added?
You can activate the products in the “Settings” section (located in the upper right corner), then you must click on “Products” and click on all those products that you want to activate. If you cannot activate any product, send an email to mercados@miraltabank.com
How are the charts operated from the Miraltabank Platform?
The Miraltabank platform allows you to quickly and effectively place and manage orders directly on the chart, where you can drag them to match the price levels on your chart. To place an order:
Click the Buy or Sell button. The chart will decide if I want to place a limit or stop entry order based on whether its buy/sell entry is above or below the current market price.
Select the quantity and price you want to trade on the chart ticker.
Drag the chart ticker to the price level you want. You can also adjust the price level using the Price field within the chart trader.
Click Accept Order to complete the order.
What does a Tier 2 Marketplace Subscription offer?
Tier 2 offers access to real-time market data, just like the Tier 1 subscription, but also includes real-time market depth of the top 5 buys/sells in the market (stocks and direct market access only). You can subscribe to Level 2 market data through the trading platform in the “Manage Subscriptions” section of the “Account” tab. The subscription renews automatically every month. Once you subscribe, you will have access to real-time Level 2 market depth data by executing trades in the “Level 2” section of the trading ticket.
How to subscribe prices in Real Time?
In order to receive quoted prices in real time, clients must subscribe to the corresponding market within the “Account” – “Others” – “Subscriptions” section. Within it you can find three sections: Stock Markets (Variable Income), Options and Futures, and News Services, in addition to the cost associated with each subscription depending also on the investor’s profile.
How do I register for a free demo account?
Miraltabank offers you a free demo account with a duration of approximately one month, except if you delete the cookies on your computer, which will automatically restart. The demo account can be found on our website, in the “Invest Yourself” section, in “Our Platform”.(Access the demo from here)
How do I adjust the time zone on a chart?
To adjust the time zone on a chart, click the “Chart Settings” icon and go to the “Regional Settings” tab. It should be noted that the locale settings can be adjusted individually for each chart.
How do I set Price Alerts?
Price alerts can be set on the trading platform in the “Price Alerts” section of the “Trading” tab. Right-click on price alerts to access Alert Settings. Within the configuration – notifications menu, you can check the “Price Alerts” option and indicate your email for future notices. It is important that for the proper functioning of this service, you confirm this subscription using the email sent once entered into the system (this price alert subscription is free)
How to operate with stock options on the Miraltabank platform?
Stock options are a complex instrument. You must take the Convenience Test to evaluate you for this product. Without carrying out the test, the entity cannot form an opinion as to whether or not this operation is convenient for you and therefore, if the operation is not convenient for you, it will not be able to warn you. The product is located in the Operations menu.
Why can't I see all the products on my platform?
If you cannot see all the products on the platform, they may not be activated. First of all, you must check if said product has it activated within “Settings” – “Products”. If not, please contact your account manager or the Customer Service Center for further assistance. In some cases, due to legal requirements, accounts may only be activated for certain products.
How can I perform the convenience test on the platform?
Our entity is obliged to evaluate you prior to operating in complex products. For non-complex products (shares, bonds and UCITs) and since the operation is at the client’s initiative, it is operated without an evaluation of convenience. By not carrying out said evaluation, the entity cannot form an opinion as to whether or not this operation is convenient for you and therefore, if the operation is not convenient for you, it would not be able to warn you. Access to the Convenience Test is found in the “Account” – “Others” – “Mifid Status” section and select “Convenience Test” located at the bottom.
How can I unsubscribe from the Real Time subscription?
If you wish to unsubscribe from a Real Time subscription, you can use the subscriptions tool of the trading platform. You can access this tool in the “Account” – “Others” – “Subscriptions” tab. You should click on the “Unsubscribe” option. Please note that subscriptions are paid for each calendar month. Therefore, even though you cancel the service, you will continue to receive real-time prices from the stock market until the end of the month.
Orders and positions
How can you warn me if I am going to trade in a subaccount with a currency different from the currency of the selected instrument?
On the Miraltabank platform, the transaction slip will display a yellow warning triangle if you try to carry out a transaction in a currency other than the account currency and you also have an account available in the same currency as the instrument with which you are trading. is trying to operate.
What can I do if my position is no longer listed (was "delisted")?
If you want to know what to do with your position, send an email to mercados@miraltabank.com and they will tell you what options are available with your position, if any.
I want to sell short options contracts, what do I do?
Writing or selling options contracts requires activation of an advanced options profile. For this, we need you to confirm in writing that you are aware of the risk involved in shorting options and have relevant experience. Contact Miraltabank customer service to request the advanced options profile. This only applies to options contracts (i.e. stock options, futures options, and indexes).
Financial products
When are additional share dividends credited to my account?
Dividends paid in cash are credited to your account on the payment date. However, if you decide to receive additional shares instead of cash, there may be a delay in the shares being credited to your Open Positions. This is because Miraltabank must wait to receive the additional shares from your Custodian/Registrar before crediting them to your account. The delay will depend on the country of incorporation of the company.
What are the tax withholdings applicable to dividends?
Dividend payments from share positions will be paid into your account after any applicable withholdings have been deducted. All of this depends on the country in which the company operates.
What types of currency options does Miraltabank offer?
On the Miraltabank platform there are different types of currency options, from vanilla options with the most used crosses in the market to more exotic ones whose required guarantees are greater. For the same cross, there may be both OTC options and options listed on primary trading markets available.
Futures CFDs expire? When?
Yes, futures CFDs expire, as do their underlying instruments. The expiration date and time of a CFD on futures can be checked in the “Account” – “Others” – “New Trading Conditions” tab. The expiration date and time of each specific CFD can also be checked on the trading slip at the time of placing an order.
When will I see the dividends from a CFD position reflected in my account?
Dividends from CFD positions are recorded in your account with the execution date (ex Date) and the value of the payment date. If you are eligible for dividends and have a CFD position, Miraltabank will deposit cash into your account. Please remember that if you have a short CFD position, the amount will be deducted from your account. You can find more information in “Account” – “Historical Reports” – “CFD Cash Adjustments”.
What is CFD financing and when is it charged?
As CFDs are collateralized products, funding costs apply to the amount borrowed if the position is held overnight. Intraday CFD positions do not generate financing costs. The financing fee is calculated daily and charged once a month. You can find more information in “Account” – “Others” – “New Trading Conditions”.
How can I short a stock?
Miraltabank offers its clients the ability to short-sell unique securities with the use of CFDs. A CFD or contract for difference is a financial contract between a client and a CFD provider, where the difference between the opening and closing prices of a position is settled in cash upon closing of the position. CFDs can be traded from the trading slip. Please note that CFDs are a leveraged product for which collateral is required and funding costs are charged if the position is held for more than one day. You can consult the contracting conditions and guarantee requirements of each instrument in the trading platform, in the “Account” – “Others” – “New Operating Conditions” sections.
What is a stop limit order?
Stop limit orders are used to control the exact level at which orders are executed. The order type has a stop price level that causes a limit order to be executed. This means that when the stop level is reached, a limit order will be applied to execute the trade at the limit price or better. Stop limit orders can be placed from the trading slip in the “Order” section.
Is it possible to put a stop loss or limit profit order on an open position?
Yes, it is possible to place an order related to a position or before launching the main order. If you place a related order before placing the main order, in the trading ticket you have to click on “Add stop/limit order”. If you want to place a related order for an open position, in the same position you will see a button to “Add” both stop and limit.
What types of orders exist on the platform?
The types of orders we offer are: market, limit, stop, limit stop, trailing stop and OCO orders (the execution of one order cancels the other)
What is the difference between a stop order and a stop limit order?
The stop order type has a stop or alarm price. When the market price hits that stop price or worse, a market order is launched, without securing the price. A stop limit order has a stop price level that causes a limit order to be executed. This means that when the stop level is reached, a limit order will be launched to execute the trade at the indicated limit price or better. Stop limit orders can be placed from the trading slip in the “Order” section.
Does Miraltabank issue debit or credit cards to its clients?
Miraltabank does not provide traditional banking services and therefore does not issue debit or credit cards to its clients.
Does Miraltabank offer tax relief for bond coupon payments?
Miraltabank does not offer tax relief for bond coupon payments. Coupon payments are taxed at the applicable tax rate in the applicable jurisdiction. Since Miraltabank does not offer tax advice, clients are advised to obtain information and advice from their external tax advisor. You can check the coupon payments in the “Account” – “Historical Reports” – “Bond Coupon Payments” report.
What is currency rollover?
Spot FX positions typically have a value of T+2. This means that they are usually settled within business days of the day of execution, if they are executed before 5:00 PM EST (New York time), which is the official close of the forex trading session. There is no physical settlement of currencies, so positions are “carried forward” to a new value date daily according to the tom/next formula and are subject to a credit or debit swap until closing. Rollover Tom/Next Rollover. All currency positions held from session to session are subject to revaluation of the credit or debit interest rate to reflect the carryover of the position to a new Value Date. This type of trade called Rollover Tom/Next is applied to positions held at 17:00 Eastern Standard Time (New York time) in any session. The concept of “rollover” is made up of two elements, tom/next swap points and the financing of unrealized gains and losses. The accumulated combined rollover credit or debit is added/subtracted from the previous opening price of the Swap Points position. The swap points used are based on the Tom/Next swap data of a Tier-1 bank with a margin corresponding to +/- 0.45% of the daily interest rates from one session to the next, plus the “Interest on losses and unrealized gains.” Unrealized gains and losses on foreign exchange spot positions carried over from one session to the next accrue credit or debit interest. These are added to the swap points to calculate the rollover credit or debit. Unrealized gains and losses are calculated as the difference between the rate at which it was originally traded (possibly adjusted for previous Ton/Next rollovers) and the closing rate of the session of the currency cross being traded at 17:00 Time Eastern Standard (New York time). You can check the history of currency positions in the report ““Account” – “Historical Reports” – “Currency Renegotiation”. Intraday FX spot positions are not subject to rollover.
What is the CFD exposure limit?
The CFD exposure limit is a restriction on the size of the CFD position that must be respected by all clients. The trading platform does not allow clients to submit orders that exceed the CFD limit if executed. The exposure limit can be checked in the trading platform under “Account” – “Others” – “New trading conditions”. The restriction depends on different factors such as the rating of the CFD, the liquidity of the stock, volatility and other market conditions. In the event of a change to the CFD exposure limit, existing client positions will not be affected, but subsequent trades and positions will be subject to the new exposure limitation.
What does NOCT mean?
NOCT is the abbreviation for No Online Client Trading. Instruments are placed on NOCT when they are provisionally removed from the trading platform or when they are not eligible for online trading. To sell NOCT positions, you must call Miraltabank at +34 910 888 090.
Trading
How do I vote in voluntary corporate actions?
You can vote on corporate events through the trading platform in “Account” – “Corporate voluntary events”. All details about the affected account, security, response period, corresponding votes and other key information are presented in this section.
How do I check the specifications of a specific futures contract?
Futures trading conditions can be consulted on the Miraltabank Platform in “Account” – “Others” – “New Trading Conditions”.
How do I check the specifications of a specific option contract?
The options trading conditions can be consulted on the Miraltabank Platform in “Account” – “Others” – “New Operating Conditions”.
What is Net Available Capital or Net Free Equity?
Net Available Capital or Net Free Equity (NFE) is defined as: 1. The account balance in the main trading account. 2. Plus the value of unrealized gains and losses from the exposure of open positions in CFDs, Futures and Options. 3. Less the collateral requirement for open positions in all accounts and possible subaccounts. NFE = Cash Balance +/- P/G – Cash Collateral Requirements. To avoid paying interest on your account, you will need to have enough cash to ensure the NFE is positive. Interest is calculated daily and settled monthly. You can check the NFE in the “Interest Details” report in the “Account” tab.
What is collateral utilization and how is it calculated?
Collateral utilization is the percentage of margin you are using on margin product trades. If margin utilization exceeds 100%, your account would reach the maximum allowable leverage level (Stop-Out) and your derivatives positions would be closed to market. Margin utilization is calculated: (100 * Reserved Maintenance Margin) / (Account Value).
Options Trading: I can't find the strike and expiration I want in the "Option Chain" panel
To increase the number of exercise prices or “Strikes” visible in the “Option Chain” we can do so by clicking on the button called “Exercises” in the upper right corner of this window, next to the Configuration button.
Can I make a trade that exceeds the margin limits?
Trading platforms will not allow you to place trades from the moment your initial available margin is zero/negative.
How is profit and loss conversion calculated?
Stocks are spot products, so if you buy a USD-denominated stock, for example, from a CHF-denominated account, your profit or loss will also be affected by how the USDCHF exchange rate changes while you hold the position open. Let’s look at the example below of a position in United States Oil Fund, LP (USO:arcx) where 46 shares are purchased in a CHF account on December 11, 2014. As of February 16, the ETF had fallen from 22.69 at 19.62; meaning that the client was losing from the trade itself. On top of that, an additional loss accrued due to the strengthening of the CHF against the USD during the 2 months since purchasing the shares. Therefore, the conversion rate applied to the account was less favorable (0.92661365 vs. 0.97438770 when the position was opened.) These rates take into account the conversion costs applied. How to calculate the “Profit and Loss Conversion” that appears in the Position Information. Steps: 1) Calculate the difference between the conversion rate at the opening and closing time 2) Multiply the current market value of the position (in the currency of the instrument) by the difference between the two conversion rates. In the example: 1) (0.92661365-0.97438770) = -0.04777405 2) -0.04777405 x 902.52 = -43.117035606 CHF (rounded to -43.12 CHF). Currency options and options contracts will also have a “profit and loss currency conversion.” This is because when trading (buying or selling) option premiums are also subtracted or added to the cash balance, just like when buying or selling a stock or bond in the account.
Cash and securities transfers
How do I make a securities transfer request through the Miraltabank platform?
You will need to contact comercial@miraltabank.com y request a transfer of securities. Subsequently, you will be sent a form that you must fill out and send back in order to begin your transfer.
Can I transfer positions between my accounts? And effective?
No, you cannot transfer positions between accounts. On the other hand, cash can be transferred between accounts, as long as the same owner appears on both accounts.
What are the expenses associated with cash transfers with Miraltabank?
If you make the transfer yourself, there is no additional cost. If, on the other hand, the transfer is made manually from the sales department, an additional cost of 2 euros is charged.
Can I transfer securities from an individual to a joint or corporate account and vice versa?
Clients can only transfer securities between accounts under the same name. Other transfers are considered transfers to third parties and are not allowed in Miraltabank.
- Between individual account and joint account
- Between private account and corporate account
- Between joint account and corporate account
When transferring securities, at what price will they be recorded?
When transferring securities to Miraltabank you will need to enter the requested posting price (usually original purchase price) when you submit the online request. If no price is provided, shares will be accounted for at the spot price (market price at the time of registration). For transfers from Miraltabank, the values are always posted at the spot price.
How long does a securities transfer take to complete?
Once you have requested the online securities transfer, be sure to send the authorization to your bank and provide them with all the documents necessary for the transfer, as the actual time to complete the process will vary depending on the speed at which the counterparty responds and complies. with the Miraltabank application. For transfers to Miraltabank, we recommend that you print, sign and send a scanned copy of the online application you made with Miraltabank to the delivering counterparty.
How can I transfer cash to my Miraltabank account?
If you want to make an incoming transfer to Miraltabank, you must order it from your bank to the accounts that appear on the platform in the “transfer” “Income” section of your Client Area.
Where can I check Miraltabank deposit account numbers?
To consult Miraltabank’s deposit account numbers, you must access the global position in your Customer access. From there, go to the “Transfer” section and then click on the “Deposit” button.
What happens if I have entered the customer code incorrectly in the transfer concept?
If you have indicated your customer code incorrectly in the concept of the transfer you have made to capitalize your Miraltabank account, you should contact the Customer Service department as soon as possible.
How can I withdraw cash from my Miraltabank account?
To withdraw cash you must access the Miraltabank platform, in the “Transfer” section of your global position. Once there, click on the “Withdrawals” section.
Are cash or bank check deposits accepted?
No, Miraltabank does not accept any deposit in cash or bank check, only transfers.
When can I withdraw cash from a sale?
The cash from the sale can be withdrawn from the settlement date of the sale. If the cash is withdrawn before the settlement date, the overdrawn portion will incur negative interest.
Can I transfer a portfolio that I have in another entity to Miraltabank?
Yes, you can transfer a portfolio that you have in another entity to Miraltabank without any additional cost on our part.
What does it cost to transfer a portfolio?
If you want to transfer a portfolio from another entity to Miraltabank, our entity does not charge you any additional cost. If, on the other hand, you wish to transfer your portfolio from our entity to another, Miraltabank applies an additional cost of 0.185% on the amount invested with a maximum of 20 euros per company.
How do I consolidate an account?
To make a withdrawal from your Miraltabank account to your bank account, you only have to go to the “Transfer” section and click on “Withdrawals”. Next, they will ask you to enter the IBAN of your account and attach proof of ownership of it (official document where you appear next to the word owner, the IBAN of the account and the bank logo). Once the account is validated, they will send you an email letting you know that you can now start making your withdrawals.
How can I withdraw funds?
You will need to contact comercial@miraltabank.com y request the transfer of funds. Subsequently, you will be sent a form that you must fill out and send back in order to begin your transfer.
Can I make incoming transfers to Miraltabank in USD currency?
Yes, you can make a transfer to your account in a currency other than the one your account is denominated in (EUR/USD only). Miraltabank will not apply any commission to the entry of funds.
Can I make cash withdrawals to other entities in USD currency?
Miraltabank will apply a commission of 0.375% on the transfer amount requested by the client under normal commission rate conditions.
Reports and extracts
Where are my financial reports?
All your account reports are available within the ‘Account’ tab, within the Miraltabank platform. It has different Reports that show the activity of the account, the record of executed operations, cash movements, the balance of profits and losses, etc. If you want to ask a brief question about these reports, you can do so directly through the platform’s chat.
How can I generate an account statement?
You can check the account statement through the trading platform in the “Account” tab. When accessing the account statement, select the time period you are interested in and click “Print”.
Where do I find my tax report?
The tax report is prepared by our administration department and is delivered to our clients through the “Documents” section throughout the month of April of each year.
Where do I find my quarterly report?
The tax report is available in your Client Area in the Documents – Tax Report section.
Where do I find my custody invoices?
The tax report is available in your Client Area in the Documents – Invoices section
