Support centre

Withdrawals

• I've closed all holding positions. How can I withdraw the cash in my account?

  If you recently executed a sell trade, there is a 2 business days settlement period before you can withdraw funds. Once the settlement period is complete, a full withdrawable balance will be displayed. You can then submit a withdrawal request by logging in to your Syfe account.

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• Why is the withdrawable cash in my account US$0?

  This will happen if you have already withdrawn your balance. If you recently executed a sell trade, there is a 2 business days settlement period before you can withdraw funds. Once the 2-day settlement period is complete, your full withdrawable balance will be displayed.

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• How can I withdraw my funds if they are in US$ and not AU$?

  You can withdraw funds in US$ currency. While Syfe doesn't charge any fees, US$ withdrawals will involve bank charges. Alternatively you may convert your funds from US$ to AU$ and withdraw. This will involve a currency conversion charge.

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• What determines how much cash is available for withdrawal?

  Your withdrawable balance is a combination of settled cash from sell orders and dividends, excluding cash that is required for corporate action elections. If you recently executed a sell trade, there is a 2 business days settlement period before you can withdraw funds.
  
  Additionally, funds that have been recently transferred may be subject to a credit hold or withdrawal restriction.

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• Is there a minimum or maximum amount for funds withdrawal?

  Is there a minimum amount for funds withdrawal?
  No, there is no minimum amount for funds withdrawal.
  
  Is there a maximum amount for funds withdrawal?
  No, there is no maximum limit to the amount that you can withdraw, as long as there is sufficient funds available in your account.

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• How long does a withdrawal take for a Australian bank account?

  If you're making a withdrawal to an Australian bank, the credit to your account should be completed within 1 business day. Withdrawals initiated over the weekend will be processed by the end of the next business day.

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• Can I change my bank account for withdrawal?

  Yes, you may add a new bank account to withdraw funds through the app.

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• Are there charges for making a withdrawal from Syfe?

  Withdrawal in AU$ to Local Bank Accounts
  
  There will be no bank charge or withdrawal fee for making a local AU$ withdrawal from Syfe. However, for the following type of withdrawals, there are bank charges and these will be borne by the customer:

  • US$ Withdrawal To Local or Foreign Banks
  • Withdrawal To Overseas Bank 

  Withdrawal in US$ To Local Bank Accounts
  
  There may be bank charges imposed by both the remitting and beneficiary banks. These charges are at the full discretion of the banks and will be borne by the customer. To avoid additional bank charges, customers may choose to convert their US$ to AU$ before submitting a withdrawal request in AU$ instead.

   

  Please note that there is a minimum amount of US$100 for withdrawal requests in US$. Any US$ withdrawal requests made that are less than the minimum amount will be automatically cancelled.

   

  Withdrawal To Overseas Bank Accounts
  
  There are bank charges for withdrawals to overseas bank accounts which will be required to be borne by the customer.

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• Can I make withdrawals over the weekend?

  Yes, you may make a withdrawal request anytime. Please note that withdrawal requests submitted on weekends will only be initiated by the next business day.

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• Will I get notified if the withdrawal is unsuccessful?

  In the event your withdrawal is unsuccessful due to circumstances such as bank account details mismatch, our Client Service team will reach out to you. You may also contact us directly at support.au@syfe.com.

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• Where can I view transactions for fund transfers and withdrawals?

  You can check your transfer and withdrawal transactions in the transfer history section within your app, or your monthly statements.

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