Typically, withdrawals from our portfolios take 2 to 6 business days to complete due to the settlement cycles of underlying funds and securities. However, certain circumstances may cause delays and extend the overall timeline.
Common Reasons for Withdrawal Delays
- Ongoing Subscription Processes
If you’ve recently deposited funds or initiated a subscription (e.g., investing new funds into your portfolio), the withdrawal will only begin after the subscription is fully settled. These settlement days are 2 to 6 business days, depending on the portfolio. Once completed, your withdrawal request will proceed accordingly.
- Dividend Crediting and Rebalancing
When dividends are credited to your portfolio, we may automatically create buy orders to reinvest them. This process takes 4 to 6 business days to settle. If a withdrawal request is submitted during this period, it will be queued and start processing only after the dividend settlement is completed, adding another few business days.
- Fund Holidays or Market Closures
Holidays observed by the funds in your portfolio (which may differ from Hong Kong public holidays) can pause settlement processes. This is particularly relevant for international funds, causing temporary delays until markets reopen.
- Cut-Off Times
Withdrawal requests submitted after our daily cut-off time (9 AM) or on non-business days (weekends or public holidays) will begin processing on the next business day, extending the overall timeline.
- Currency Conversion Requirements
If your withdrawal involves currency conversion (e.g., USD to HKD), an additional business day may be required.
Your funds will be converted automatically using prevailing market exchange rates at the time of transaction. You can enjoy preferential currency conversion spreads of around 0.10%–0.13%, significantly lower than what retail would typically pay (around 0.3%–0.5%) when converting through banks.
- Full Withdrawals After Deposits
If you deposit funds and then request a full withdrawal shortly after, transactions are processed sequentially, which may extend the total processing time.
How to Ensure a Smooth Withdrawal Process
- Check Submission Timing: Submit your withdrawal request before the cut-off time (9AM) on business days to avoid delays. For Cash+ Fixed, withdrawals can only be submitted on the maturity day after 3:00 PM HKT.
- Verify Bank Account Details: Ensure the withdrawal currency matches your bank account’s currency to prevent processing delays. Syfe Hong Kong only supports withdrawals to local bank accounts.
- Track Your Withdrawal: Log in to the Syfe App, navigate to the relevant portfolio, and check the “Transactions” section to monitor your withdrawal status. If the “Cancel Withdrawal” is visible, you may select it to cancel the withdrawal.
- Plan for Holidays: Be mindful of fund-specific or international market holidays, as these can delay processing.
- Contact Us: If your withdrawal is taking longer than expected or you have concerns, please reach out to our Client Success team for assistance.
For more details on withdrawal timelines, refer to: How long does it take to withdraw funds from my Syfe portfolio?
For information on potential fees, refer to: Are there any fees for withdrawing funds?
