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Quick withdrawals / internal transfers from Syfe Cash+ Portfolio

  • Quick withdrawal and internal transfer allow you to either withdraw funds to your bank account or transfer funds from your Cash+ portfolio to other Syfe portfolios with minimal processing time.

    Under normal circumstances, withdrawals and internal transfers between portfolios take 2-4 business days to complete. However, with quick withdrawal and internal transfer, you may expect your request to be completed within the same or next business day.

    Kindly note that you can only request a quick withdrawal or internal transfer from a Syfe Cash+ portfolio.

     

    How long does it take for my quick withdrawal or internal transfer to be completed?

    If you placed the quick withdrawal or internal transfer request before 11 am on a business day, you will receive your funds within the same business day by 7 pm.

    If the request is placed after 11 am, you will receive your funds by 7pm on the next business day.

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

    You may still submit a quick withdrawal or internal transfer request on a weekend or public holiday. However, please note that the request will be processed and completed on the next business day.

     

    Is there a limit for quick withdrawal / internal transfer?

    Yes, you may place a quick withdrawal / internal transfer up to 90% of portfolio value or SGD 10,000, whichever is lower.

    If your total portfolio value is less than SGD 10,000, all partial withdrawals and internal transfers will be processed as quick withdrawals and internal transfers.

    Should you choose to withdraw more than this limit, your withdrawal or internal transfer request will be processed within the usual 2-4 business days timeframe.

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  • Yes, you can, as long as the total of all quick withdrawal and internal transfer requests being processed at any point of time are below the quick withdrawal / internal transfer limit, which is up to 90% of portfolio value or SGD 10,000, whichever is lower.

    Learn more here: Why is my quick withdrawal / internal transfer limit less than what I expected?

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  • The limit amount for quick withdrawals / internal transfers is up to 90% of portfolio value or SGD 10,000, whichever is lower.

    This limit includes any pending withdrawal or internal transfer that is still in progress. Once the ongoing quick withdrawal or internal transfer has been processed completely, the limit will be updated to either 90% of your portfolio value or SGD 10,000 whichever is lower.

    Example:

    Jane has $5,000 invested in her Cash+ portfolio and had requested a quick withdrawal of $1,000 to her bank account. While this request is being processed, she intends to submit a separate quick internal transfer request from the same Cash+ portfolio to her REIT+ portfolio.


    Scenario A: If the quick withdrawal of $1000 is completed that means the ‘portfolio value’ taken is $4000, not $5000. The limit would be 90% x ($5000-$1000) = $3600


    Scenario B:
    If the quick withdrawal is not completed that means the ‘portfolio value’ taken is not $4000, but still $5000. The limit would be $5000 x 90% - $1000 (that is in progress) = $3500

     

    Learn more about quick withdrawal/internal transfer limits here: I have already received my funds in my bank account / other Syfe portfolio, why is my quick withdrawal / internal transfer limit still lower than it is supposed to be?

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  • In a quick withdrawal / internal transfer, we pay out the amount to your bank account or other portfolio before the assets in your Cash+ portfolio have been sold, and only start the selling process after.

    Therefore, a quick withdrawal / internal transfer will only have completed its processing after the assets in your Cash+ portfolio have been sold.

    During this time, the ongoing quick withdrawal / internal transfer amount will still be considered towards your quick withdrawal / internal transfer limit of up to 90% of portfolio value or SGD 10,000, whichever is lower.

    After your assets have been sold off, your quick withdrawal / internal transfer limit will be restored. 

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  • We will do our best to ensure quick withdrawal / internal transfer is available at all times.

    However, depending on various factors, this feature may not always be available. We reserve all rights to modify or discontinue quick withdrawal / internal transfer.

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