If a withdrawal is declined, or you see "insufficient funds" even though your cash balance looks high enough, it is almost always because some of that cash isn't available yet. Your total cash balance and the amount available to withdraw are two different figures.
The same rule applies when you convert AUD to USD or HKD: only available funds can be converted.
Why is some of my cash unavailable?
| Reason | What's happening | When it's available |
|---|---|---|
| You recently sold ASX shares | The sale hasn't settled yet. ASX trades settle two business days after the trade (T+2). | On the settlement day, usually between 9:15 am and 10:30 am Sydney time. |
| You recently sold US or Hong Kong shares | US trades settle one business day after the trade (T+1) and Hong Kong trades after two (T+2). The proceeds are in USD or HKD. | After settlement. You then need to convert the funds to AUD before withdrawing. |
| You have an open buy order | Cash for the order, including brokerage, is set aside as Reserved Cash. | When the order is filled, expires or is cancelled. Cancel the order to release the funds. |
| A currency transfer is in progress | Funds moving between your AUD, USD and HKD balances are reserved until the transfer completes. | When the transfer completes. |
| The funds are in USD or HKD | Withdrawals can only be made from your AUD cash balance. | After you convert the funds to AUD. |
| You sold on a deferred settlement basis | After some company events, such as a share split, trades settle on a later date set by the exchange. | On the date in the company's notice. |
| You recently deposited the funds | New deposits may be held for a short period before they can be withdrawn. You can still use them to trade. | When the holding period ends. |
What is settlement?
When you sell shares, the trade happens straight away, but the legal exchange of shares for cash happens later. This is called settlement, and the timing is set by the exchange, not by Selfwealth.
- T is the day of your trade. T+2 means two business days later.
- Weekends and public holidays don't count.
- Example: sell ASX shares on Monday and the funds can be withdrawn on Wednesday morning. Sell on Thursday and they can be withdrawn the following Monday morning.
You don't have to wait for settlement to trade again. Unsettled sale proceeds can be used straight away to buy shares in the same market.
How do I check how much I can withdraw?
- Mobile app: go to Wallet and tap Withdraw. The amount available to withdraw is shown before you enter an amount.
- Website: select Trading Account > Withdraw from AUD. Compare Total Funds with Funds Available for Transfer.
Your Reserved Cash balance shows funds that are set aside. See What is the 'Reserved Cash' balance?
What should I do?
- Withdraw only up to the available amount now, and the rest after settlement.
- Cancel any open buy orders you no longer need.
- If the funds are in USD or HKD, convert them to AUD first. See How do I move funds between my international cash accounts?
- Check your nominated bank account is correct before you submit. A withdrawal can't be cancelled once submitted.
Withdrawals submitted before 2:00 pm Sydney time on a business day arrive the next business day. See How do I withdraw cash from my Selfwealth account?
Still can't withdraw?
Contact a Customer Advocate via live chat or at support@selfwealth.com.au if the settlement date has passed and the funds still aren't available, or if you see an error that isn't about your balance. Include your Selfwealth ID, the amount and a screenshot of the message.