Why does my withdrawal take longer than usual to process?

The typical withdrawal process takes 4 to 5 business days due to the settlement cycle of the constituent funds. However there can be a few reasons that your withdrawal can be delayed:

 

  1. Fund holidays

The underlying funds are domiciled in US, UK and HK. Hence any holidays in these countries (ie non-trading days) in these market can add to the withdrawal process

  1. Withdrawal immediately after depositing 

Do note that subscription into Income+ takes 4 to 5 business days due to the settlement cycle. If a withdrawal is requested before the subscription process is completed, the withdrawal process will only start sequentially after that, thereafter requiring another 4 to 5 business days to complete. 

  1. Dividend processing in progress

When dividends are credited to your portfolio, buy orders may be created. This is similar to the subscription process which requires 4 to 5 business days to complete. Hence if the withdrawal request is initiated during this period, likewise the withdrawal process will only start sequentially after that and complete 4 to 5 business days after.