When you submit a ‘full withdrawal’ request there are several factors which might change the final amount of your portfolio. Please note that this applies to full internal transfers as well.
Daily Market Fluctuations: Under ordinary circumstances, we expect to sell your investments within 1 - 2 business days to fulfil your withdrawal request. During this period, the price of your assets may go up or down and change your portfolio value. The final selling prices of your assets will depend on the prevailing market prices at the point of selling off, not at the point of withdrawal request submission. Thus, the final amount of your portfolio may be different than what you saw in the dashboard at the time of placing the withdrawal request.
Dividends: Some companies give out dividends to their shareholders from time to time. If you have invested in equities and REITs, then, besides earning from rising market valuations, you’re also eligible for these dividends from such companies. If dividends are disbursed but we haven’t received them from our broker yet, we still add these to your portfolio value and payout at the time of withdrawal.
Referral Bonus: You are eligible to receive a referral bonus if the referred investor maintains an investment portfolio with us for at least 3 months. Click here to read the full terms and conditions. However, instead of holding on to your bonus for these 3 months, we pay it out right away and invest it in your portfolio. If any of your referred investors didn’t meet or are yet to meet our 3-month investment criterion, then we deduct the bonus we had paid out earlier.
Portfolio Management Fees: For managing your portfolio, Syfe charges a flat fee ranging between 0.35% to 0.65% per year based on the total amount you invest. The fee is calculated on a per-day basis and deducted at the end of every month. At the time of full withdrawal, we will calculate and deduct any outstanding fees from your final withdrawal amount.
Foreign Exchange Charges: For overseas transfers or making cross currency transfers to a Singapore bank account, both the remitting and/or beneficiary bank may charge a foreign exchange fee. This forex fee will depend on the prevailing exchange rate between USD/SGD and your local currency.
Possible bank charges: For withdrawals above S$200k to a local bank account, it will be done via MEPS transfer where a cable fee and a handling fee is charged by your bank.