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. Depending on bank processing timelines, you should receive your funds within the next business day. As such, this typically means that most customers can expect to receive their withdrawn funds in 2 - 3 business days. (This timeline applies to all Core, REITs and Custom Select portfolios only.)

Core, REITs and Custom Select Portfolios: 2- 3 Business Days 

Cash+ Flexi SGD and Cash+ Guaranteed: By the Next Business Day– You can expect to receive your funds by 7PM SGT the next business day (T+1) for all requests made before 11AM SGT.

You should only transfer new funds to your Cash+ Flexi portfolio after withdrawal is completed. Do also take note that the final amount you receive may not be the same as your portfolio. It is subject to exchange rates, fees, and charges that may apply during the sale.

For Income+ and Cash+ Flexi USD portfolios, the redemption and withdrawal process could take about 4 to 5 business days for the funds to be reflected in your bank account. It’s subject to the constituent funds’ designated dealing days and other provisions in relation to redemptions as stated in the constituent funds’ prospectus.

For example, if you initiate an internal transfer from Cash+ Flexi SGD to Income+, your Cash+ Flexi SGD portfolio will need to be redeemed first, and could take up to 2 business days to settle. The redemption proceeds are then used to subscribe for the Income+ portfolio. As such, the entire process could take up to 7 business days to complete, and is handled automatically by our systems.

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, while Syfe does not charge any fees for overseas withdrawals, 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.   

You should only transfer new funds to this portfolio after withdrawal is completed. Do also take note that the final amount you receive may not be the same as your portfolio. It is subject to exchange rates, fees, and charges that may apply during the sale. Learn more here.

Kindly note that weekends and public holidays are not considered business days.