How does a Withdrawal from Mintos work?

Have your Mintos loans generated income that you want to withdraw but don’t know how to go about it? Do not worry.

On Mintos, your earnings not reinvested in loans can be withdrawn at any time, by simple transfer to your bank account or electronic wallet. The transaction takes place free of charge and within a relatively short timeframe.

How long does it take to transfer money to my bank account?

With Mintos being among the top 10 P2P platforms, you can at any time transfer funds not invested in loans from your Mintos account to your electronic wallet or bank account. The transfer time is quite quick, but may vary depending on your bank and location.

In general, once the withdrawal request is confirmed by you via email, the transferred amount can arrive in your account after 1 to 3 working days if you are in the euro area. On the other hand, the deadline may be longer for if you are outside the euro zone.

Will I be charged for a withdrawal?

No, you will not be charged for withdrawals transferred to your bank account. This is because Mintos does not impose any fees on money leaving your Mintos account.

However, depending on your bank or the payment service provider you use, charges may apply to your transfers. Do not hesitate to inquire with your bank for precise information concerning the fees invoiced for your banking operations.

How safe are investments?

Beyond the evaluation and classification of borrowers according to their credit score, Mintos puts in place a set of guarantees aimed at minimizing the risk of loss.

Mortgages

A first security measure applied by Mintos consists of backing a mortgage against the vast majority of loans issued on the platform. Thus, in the event of non-reimbursement, the mortgaged property is put up for sale by a bailiff to reimburse the investors.

The non-reimbursement guarantee

This guarantee, infrequent in most P2P platforms, forces Mintos to reimburse you for the entire loan and its interest. Especially when the borrower has been in default for more than 60 days. However, this guarantee does not always apply to all loans on the platform.

The buyback guarantee

The Surrender Guarantee allows you to resell your loans to Mintos or other investors in the secondary market before they mature or when they are in arrears. It allows you to liquidate your investments by selling them at a discount.

How is income taxed?

The tax rules for income from P2P loans such as Mintos may vary from one country to another. In France, the interest generated by your Mintos loans is assimilated to capital income and subject to the flat tax (Single lump sum deduction) at 30%.

Note that Mintos does not automatically levy this tax. It is up to you to declare your loans and the profits generated during the year during your income declaration to the tax authorities.

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