When you withdraw funds from your Syfe portfolio, the securities you hold must be sold before the cash can be transferred to your bank account.
Withdrawals to Singapore local banks
Under ordinary circumstances, Syfe makes the sell transactions within 1 - 2 business days. It may then take up to 1 - 2 business days for your funds to reach your bank account, depending on bank processing timelines. As such, this typically means that most customers can expect to receive their withdrawn funds in 2 - 4 business days.
Kindly note that weekends and public holidays are not considered business days.
Withdrawals to overseas or international banks
Depending on the processes of the intermediary and recipient banks, we estimate it takes about 5 -7 business days for the funds to be reflected in your overseas bank account.
Sometimes, it may take longer if the receiving or intermediary bank holds the funds for compliance or regulatory checks. In such cases, you can contact your bank to identify and resolve any issues.
Additionally, please note that both the remitting and/or beneficiary bank may charge you currency conversion fees and / or other fees for receiving overseas fund transfers. This fee varies between banks and will be deducted automatically from the received amount.
Learn more about Syfe Wealth withdrawals: