Please kindly submit your account closure request on the Syfe App under Account Information > Personal Details > Close Account and follow the steps accordingly.
Kindly note that accounts with positions or cash balances cannot be closed. Before closing your account:
- For Wealth accounts, ensure that your Wealth portfolios are fully redeemed.
- For Trade accounts, ensure that your holdings are fully liquidated, and pending trade orders have been cancelled.
- Ensure that all cash balances have been fully withdrawn, and that you are not expecting to receive any dividends, interest, or other sums in your account.
- Ensure that any instructions for recurring deposits of funds into your account.
- Ensure that all charges, fees, costs, and/or expenses payable by you to us and/or our partners have been paid.
If any of the above conditions are not fulfilled, we reserve the right not to proceed with the closure of your account.
You acknowledge that your funds may be lost, or we may charge an administrative fee, to process any refund to you (such as may arise from dividends received, standing instructions for recurring deposits, etc.) after your account has been closed.
After 30 days from the confirmation of your instructions to close your account, and provided that the above conditions are fulfilled and you have not withdrawn your account closure request, your account will be closed with the following consequences:
- You will no longer be able to access your Syfe account (whether in relation to Syfe Wealth, Syfe Trade, or both), or to use our services.
- The contractual relationship between you and Syfe pursuant to the client agreement is terminated.
- You will not be able to retrieve any account information such as account statements after closure.
- Due to Syfe’s various regulatory compliance and contractual obligations (such as those in relation to prevention of money laundering and countering of terrorism financing), information relating to your account and activities associated with it (“Account Information”) will remain retained by Syfe. However, your account closure will be treated by us as a withdrawal by you of consent to any further collection, use, or disclosure of your personal data, subject to any applicable law.
- You will no longer receive any communications from Syfe. However, Syfe reserves the right to contact you where necessary (such as to return any cash balances, dividends, etc. belonging to you).
Any withdrawal of your account closure request has to be communicated to us within 90 days from the confirmation of your instructions to proceed with the closure of your account. After 90 days, your instructions will be irrevocable and irreversible.
If you wish to use Syfe’s services again after your account is closed, you will need to go through the account opening process afresh.