Support centre

Top-ups and Redemptions

• I have made multiple top-ups on the same day. How will the funds be debited from my SRS bank account?

  Generally, top ups made before 11 AM on a business day will be aggregated and a request to debit this amount from your SRS bank account will be placed the same day. If there are sufficient funds in your bank account, funds will be debited in 2-3 business days.

  For eg., you have instructed Syfe to invest S$5,000 to Cash+ Flexi (SRS) and S$10,000 to Income+ Enhance (SRS) before 11AM on a Monday. Given both of these requests were submitted on the same day, after 11AM, a request will be sent to your SRS bank (DBS/POSB, OCBC, UOB) to debit S$15,000. If you have a balance of S$15,000 in your SRS bank account, this amount will be debited in the next 1-2 business days. If you only have say S$11,000 in your SRS bank account, considering the balance falls short of the aggregated amount of S$15,000, the debit request will fail. Syfe (from support@syfe.com email) will reach out to you informing you that you do not have sufficient funds in your bank account. View here for details on the next steps you can take at this point.

  If you had placed the two investment requests; one before 11 AM and after 11 AM on a business day, the latter will only be processed the next business day.

  In a scenario where you made one investment request before 11 AM and then a second one after 11 AM and a third one next business day after 11 AM, given that your first request is still being processed, your 2nd and 3rd requests will be aggregated and sent for debiting together. This ensures that your debit requests are sent in an optimised manner instead of sequentially so that your SRS funds can start investing and growing as soon as possible.

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• Am I able to move funds from one of my SRS portfolios to another?

  Moving funds between Syfe SRS portfolios are not possible at the moment. In order to reduce delay in investing, you may add fresh SRS funds to your 2nd portfolio and place a withdrawal request from the 1st simultaneously. Here are the timelines associated with starting an investment as well as the withdrawal.  

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• How long will it take for me to redeem or withdraw funds from my SRS portfolio?

  When you withdraw funds from your Syfe SRS portfolios, the securities you hold must be sold before the cash can be transferred to your bank account.

  Withdrawals to SRS banks (DBS/POSB, OCBC, UOB)

  Under ordinary circumstances, Syfe processes your instruction to sell within 1 - 2 business days. However the sale of the funds within the portfolio takes anywhere from 5 to 9 business days.

  Once the portfolio has been liquidated, depending on the bank’s processing timelines, you should receive your funds within the next 1-2 business days. As such, this typically means that most customers can expect to receive their withdrawn funds in 2 weeks.
  
  

  Cash+ Flexi SGD: 5-6 business days
  Core Equity100 and Income+: 6-9 business days 

   

  Withdrawals to other bank accounts

  Note that SRS funds can only be withdrawn to your SRS Bank account (DBS/POSB, OCBC, UOB). If you had changed your SRS bank account during the course of your investment with Syfe, please contact support@syfe.com for assistance to update your bank details.

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• What should I expect after I have topped-up my existing Syfe SRS portfolio?

  When you top up an existing SRS portfolio, this is what you can expect :

  1. Debiting SRS funds : We will typically process your debit instructions in the coming business day and the funds will be debited from your SRS bank account in the next 2-3 business days. If your SRS bank account verification fails or there isn't enough balance to process the debit instruction you provided, you will receive notifications via email and push notifications from Syfe. You may see the same reflecting under the Transactions section of your portfolio. In this case, please do the below : 

     • Firstly verify the SRS bank account details provided is correct. If the account is incorrect, you may reach out to our CS via support.sg@syfe.com to update details.

     • Then verify your SRS bank account has sufficient funds. If not, simply top up your DBS/POSB, OCBC or UOB SRS bank account first, then log in to your Syfe account, click on "Add funds," and place a new instruction to debit SRS funds.

     • If you have verified that the bank account details are correct as well as the account has sufficient funds, you may reach out to our CS via support.sg@syfe.com and we can assist you further.
       
       

  2. Investing SRS funds : Once your SRS funds have been successfully debited, your portfolio value is updated and the investment orders are submitted to the fund house by the next business day. At this point, you will see the funds reflected in your portfolio, under the Transactions section.

  3. Investment Settlement : The investment settlement timeline depends on the type of portfolio:

     • Cash+ Flexi SRS: 3-4 days business days

     • Income+ Preserve and Income+ Enhance: 6-7 business days

     • Core Equity100: 7-8 business days

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• Will I receive the full value of the portfolio if I submit a “full withdrawal” request?

  The amount displayed in your portfolio dashboard is an indicative value for the total amount invested.

  When you submit a ‘full withdrawal’ request there are several factors which might change the final amount of your SRS portfolio.

  Daily Market Fluctuations: Under ordinary circumstances, we expect to sell your investments within the shortest time to fulfil your withdrawal request.

  • SRS Cash+ Flexi - 2 business days
  • SRS Income+ Preserve and SRS Income+ Enhance - 4 business days
  • SRS Global Equity100 - 5 business days

  During this period, the prices of the assets in the portfolio may go up or down which affects the portfolio value. The final selling prices of the assets will depend on the prevailing market prices at the point of sale, not at the point of withdrawal request submission. Thus, the final amount of your portfolio may be different from what you saw in the portfolio dashboard at the time of placing the withdrawal request.
  
  

  Dividends: The constituent funds in Income+ portfolio(s) distribute dividends at the end of the calendar month. Occasionally, due to non working days in the funds processing from fund house to Syfe, there might be a possibility that Syfe has not been notified of the dividends disbursement. ie. we have not received them from our broker. In these extenuating circumstances, we will credit the dividends due to you at a later date, once the dividends processing have settled.
  
  

  Managed Portfolios Management Fees: For managing your portfolio, Syfe charges a flat fee ranging between 0.25% to 0.65% per year based on the higher of assets under management or invested amount. 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 (incl. GST) from your final withdrawal amount.
  
  

  Cash+ Flexi Management Fees: Syfe charges a management fee of 0.05-0.15% per annum on Cash+ Flexi based on the higher of assets under management or invested amount. At the time of full withdrawal, we will calculate and deduct any outstanding fees (incl. GST) from your final withdrawal amount.
  
  

  Trailer Fee Rebates: Where applicable, trailer fees received on Cash+ Flexi and Income+ portfolios will be credited to your Syfe portfolio when they are received by Syfe.

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