Why can’t I withdraw?
We’ve put a temporary hold on your withdrawals until we obtain some important information from you.
This is due to our ongoing obligations under FICA / KYC.
During this time, you can still access all other functionality on your account, including the buying and selling of instruments / holdings.
It should be quick and simple to resolve by sending us the information detailed below.
What information do we need?
There are 4 different circumstances for which we would need to request information from you. In each instance, we would have emailed you requesting this information before applying the hold:
1. Customer Due Diligence (CDD) - you will have received an email from with subject header (CDD) informing you that we’re conducting Customer Due Diligence and requesting information from you regarding how you fund your account.
2. KYC update - if your account is a juristic entity account (i.e. Company, Closed Corporation, Partnership, Trust or informal association (eg. Church, School, Stokvel, Burial Society etc) - you will have received an email from our new accounts team requesting information about the entity as well as any person/s who exercise control over the entity.
3. Minor turning 18 - In terms of South African law, once a minor child turns 18 years of age, they attain majority status and have full contractual capacity. When this happens we need to understand who has control of the account. You will have receive an email from our new accounts team requesting information to help us determine that.
4. Deceased Estate - where we establish that an account holder has died, we will place a hold on withdrawals to protect the account while the winding up process is taking place.
How do I get the information to you?
Email us at helpme@satrixnow.co.za informing us you were sent to this FAQ by hyperlink from your withdrawals page.
If your account is that of a juristic entity or a minor who may be turning 18, highlighting that for us would also help.
As soon as our client engagement team receive this information, they should be able to verify your information, make any necessary updates and release the withdrawal hold.
If they need to clarify anything, they may contact you for further information.