Unsettled cash

Hi,

I found out that I cannot withdraw money from the app. I can see that I have cash in my account but the withdraw page only shows 0.0 cash available for withdrawal.

Is anyone experiencing the same problem?

Could you please verify this problem?

Thanks.

It takes a number of days (depending on exchange) for cash to clear after a sale. If you sold shares very recently that won’t have happened yet.

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See if your money is listed under withdrawable cash and not unsettled cash. It takes 3 working days for the market to settle your trades (US).

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Wait for it to settle

I see! Actually I sold some of shares yday. Thank you for your prompt reply!

Once it has settled can I withdraw it and see it in my bank within a minute or two? That is I’m assuming the money transfer follows the normal fastpay banking sytem. I’ve just sold US stock and need to see the cash in my bank by 00.01am this coming Monday. Will this happen ?

based on payments I’ve withdrawn myself, it usually takes 2 to 3 working days to appear in your bank account.

Hi Keith,

Withdrawals typically take 2-3 working days but can take up to 5.

Thanks for the info. How come it takes so long for withdrawals to get to your bank? We did away with that years ago with the introduction of the faster payments system, Amazon are similar with refunds. Is there a genuine reason behind it?

Yes. Faster payments cost more money and as a low-cost broker Freetrade needs to keep costs to a minimum.

Thanks for the feedback. We haven’t been able to make use of Faster Payments so far due to limitations with our payment providers. We’re hoping to be able to process withdrawals through the Faster Payments scheme soon.

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Topic Withdraw options