Withdraw options

Continuing the discussion from Withdrawals taking 3-5 days:

I really think Freetrade need to speed up this withdrawal funds part on the app. I was in need of cash so had to sell lot of my shares. Funds shows in account, so I can use this funds to buy more shares but I cant withdraw?

Is its liquidity issue within the business? Or Freetrade doesn’t want us to withdraw money out. If I can buy new shares I shud also be able to withdraw it.

Is it in unsettled cash? not sure if any brokers let you withdraw unsettled cash.

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This is because it takes time for the clearing house to settle the funds, this happens with every broker and it takes three days to clear.

I don’t think they can speed this up as they won’t allow you to take out unsettled cash.

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Thankyou @DavidM and @Dave

Yes, I believe this is still unsettled cash from sales, but my question remains same, if I’m allowed to purchase new shares from this “unsettled cash” then I sould be allowed to withdraw to my account.

As far as other brokers are concern, it’s all about liquidity issue in brokerage system, it they sufficient cash they will authorize a quick withdrawal. Unsettled cash is guaranteed it’s just the process is slow.

Sorry that’s not how it works. This would cause serious issues to the financial system if allowed. Unsettled cash is not “guaranteed”

Investing money that you may need urgently is not advisable

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@J4ipod94 Thank for your advice. :+1:

Correction I never mentioned in my original post that I invested money that I urgently needed.
I needed cash urgently is not the same, the investment are back from early 2019.

That said, I understand and accept the fact I have to wait for the clearance of my funds…

Once again, I would like to thank everyone who replied to my post. I am slightly upset as it will take further few days to request funds and authorization from Freetrade with withdrawal… I guess it’s a week+ timeframes mindset for withdrawal in future.

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