When submitting a withdrawal request you may notice that some or all of your funds are not yet available. Below are the most common reasons for this.
Your Trade Hasn't Settled
Funds from a sell trade are only available for withdrawal once the trade has settled. Selfwealth operates on T+2 settlement, which is a standard process governed by the ASX. This means funds from a sell trade are released two trading days after the trade is executed.
For example, if you sell your shares on a Tuesday, the trade will settle on Thursday. Funds are typically available for withdrawal once our settlement processes are complete, which is usually between 9:15 AM and 10:30 AM.
Please note this does not account for public holidays.
You can still use unsettled funds to purchase additional shares in the same market immediately.
Your funds are reserved
Your Reserved Cash balance represents funds that have been set aside and are awaiting transfer. This can occur when funds are 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 funds are reserved for an in-market order, you can cancel the order to release the funds for withdrawal. If the funds are reserved for an international cash transfer or deferred settlement, you will need to wait until they become available. For more information, see What is the Reserved Cash balance?
Your 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.