How do I make a withdrawal from my Syfe portfolio?

• If I submit a ‘full withdrawal’ request, then will I get the full amount currently displayed in my portfolio?

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

  Daily Market Fluctuations: Under ordinary circumstances, we expect to sell your investments within 1 - 2 business days to fulfil your withdrawal request. During this period, the price of your assets may go up or down and change your portfolio value. Therefore, the final amount of your portfolio may be different than what you saw in the dashboard at the time of placing the withdrawal request.

  Dividends: Some companies give out dividends to their shareholders from time to time. If dividends are disbursed but we haven’t received them from our broker yet, we still add these to your portfolio value and payout at the time of withdrawal.

  Portfolio Management Fees: For managing your portfolio, Syfe charges a flat fee ranging between 0.35% to 0.65% per year based on the total amount you invest. The fee is calculated on a per-day basis and deducted at the end of every month. At the time of withdrawal, we calculate and deduct the remaining fees.

  Bank charges: For withdrawals above HKD 1 million to a local bank account, it will be done via RTGS at HKD 55. USD withdrawals cleared via HK local clearing platform (CHATS) will also be sent via RTGS at HKD 55, imposed by our banking partner.
  Other bank charges imposed by the beneficiary banks are at the full discretion of the banks and will also be borne by the customer.

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• How long does a withdrawal take for a Hong Kong bank account?

  When you withdraw funds from your Syfe portfolio, the securities you hold must be sold before the cash can be transferred to your bank account. Depending on which portfolio you’re withdrawing funds from, it usually takes 1–6 business days to redeem the assets and credit the funds to your bank account. When withdrawing from
  Cash+: 1–2 business days
  Managed portfolios: 2–3 business days
  Income portfolios: 4-6 business days

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• Can I make a partial withdrawal from my portfolio?

  Yes. With the partial-withdrawal process, you can withdraw up to 90% of your funds. If you need to withdraw more than 90% of the current portfolio value, then you will have to place a full withdrawal request. Learn more: How do I withdraw funds from my Syfe account?

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• In what currencies can I withdraw the funds from my Syfe portfolio?

  For our USD denominated portfolios i.e. Syfe Core, you can withdraw your funds in either Hong Kong dollars (HKD) or United States dollars (USD).

  If you are withdrawing to a Hong Kong bank account, then we recommend choosing HKD.

  For USD withdrawals, a transaction from our bank, HSBC, to another HSBC bank account in Hong Kong is currently free. For foreign currencies (USD) that can be cleared via HK local clearing platform (CHATS), payments can be sent via RTGS out at HKD 55. This bank charge is imposed by HSBC, and this charge is at the full discretion of HSBC which will be borne by the customer. To avoid additional bank charges, customers may decide to submit a withdrawal request in HKD instead.

  For Syfe Cash+ withdrawal, please refer to link

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• Are there charges for making a withdrawal?

  Syfe does not charge any withdrawal or exit fees. You can place a withdrawal request from any of your portfolios whenever you want.

  Syfe only charges a single flat fee based on the total amount you invested, which is calculated on a per-day basis and deducted at the end of every calendar month. So, you only pay for the days Syfe manages your funds.

  There are no fees for withdrawing, adding, or moving funds between your portfolios. You can visit the following link to learn more about our pricing tiers: How does Syfe pricing tiers work?

  Please note that for RTGS transfers, the banks may charge a fee, which will be incurred to you.

  You can also refer to the following FAQ regarding charges and deductions: If I submit a ‘full withdrawal’ request, then will I get the full amount currently displayed in my portfolio?

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• How do I withdraw funds from my Syfe account?

  Here’s how you can withdraw funds from your Syfe portfolio:

  1. Log in to your Syfe account.
  2. Tap on the portfolio from which you wish to withdraw funds.
     
     
  3. On the next page, tap on the "Manage funds" button.
     
     
  4. Then, select "Withdraw funds" and tap on the "Proceed" button.
     
     
  5. On the next page, select the reason for withdrawal, provide additional feedback in the text field, if applicable, and tap on the Proceed to withdraw button at the bottom of the page.
     
     
  6. Select the Full Withdrawal or Partial Withdrawal option.
     • Select Full Withdrawal if you wish to withdraw all of the funds from the selected portfolio.
     • Select Partial Withdrawal if you wish to withdraw up to 90% of the funds from the selected portfolio.
       • If you want a Partial Withdrawal, then enter the amount and currency you wish to withdraw.
         
  7. Tap on the Submit button. When asked for a confirmation, tap on the Confirm button and you’re done.
     
     
  8. You’ll see the confirmation message and receive an email for the same.

  Note: Funds transfer to a Hong Kong bank account can take up to 3 - 5 business days. Placing a withdrawal request before 9am HKT on a market trading day can speed up the process as we can sell the assets in your portfolio on the same day.

  Learn more: How long does the withdrawal take for a Hong Kong bank account?

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