When you are submitting a withdrawal request, you may notice that some or all of your funds are not yet available for withdrawal. We've listed the most common reasons for this below:
Your Trade Hasn't Settled
To withdraw money from a 'sell' trade, the trade must be settled. Settlement is referred to as T+2 settlement and is a standard process governed by the ASX. Funds from sell trades are released on T+2.
For example, you sell your shares on a Tuesday. The trade will have settled by Thursday. You can then withdraw your funds once our settlement processes are complete for the morning. This usually tends to be somewhere between 9.15 and 10.30am.
This assumption is made without considering any national public holidays.
Please note: you can still use unsettled funds to purchase additional shares in the same market immediately.
The Funds Are Reserved
The 'Reserved Cash' balance represents funds that have been reserved and are awaiting transfer.
Examples of this include:
- funds allocated to in-market orders or orders that have not yet reached settlement
- in-progress international cash transfers
- proceeds from shares sold on a 'deferred settlement' basis
If the funds are reserved for an in-market order, you can cancel the order and withdraw the funds. If the funds are reserved for an international cash transfer or deferred settlement, you will need to wait for the funds to become available. For more information on the reserved cash balance, please click here.
The Funds Are In An International Cash Account
If you've transferred funds to one of your international cash accounts, you will need to transfer the funds back into your AUD cash account before withdrawing them. For more information, click here.
Once a transfer or withdrawal has been submitted it cannot be cancelled or adjusted.