Back to SatrixNOW Submit a ticket
  1. SatrixNOW
  2. Solution home
  3. Withdrawing and Depositing Funds on SatrixNOW
  4. Withdrawing Funds on SatrixNOW
Open navigation

What are "Locked Funds"?

When you contribute funds to your SatrixNOW wallets, we lock-up those funds for a period of time depending on the type of deposit you made. This protects you and the business from bad actors. The time periods for how long different deposit types are locked up for are below:

EFT deposit - 5 days

Instant EFT deposit – 5 days

Debit order deposit - 40 days

Promotional vouchers - 3 years

These rules regarding withdrawable funds are contained in our SatrixNOW Terms & Conditions.

It is important to note that some of these protections are put in place to protect the health and longevity of the business and as importantly with that, our clients, and their holdings. If we allow ourselves to be defrauded due to unfavourable business practices, the effects on you, our clients, could require unnecessary changes to costs, functionality, and overall user experience.

Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.

Satrix Managers (RF) (Pty) Ltd (Satrix) a registered and approved Manager in Collective Investment Schemes in Securities and an authorised financial services provider in terms of the FAIS. Collective investment schemes are generally medium- to long-term investments. Unit Trusts and ETFs the investor essentially owns a “proportionate share” (in proportion to the participatory interest held in the fund) of the underlying investments held by the fund. With Unit Trusts, the investor holds participatory units issued by the fund while in the case of an ETF, the participatory interest, while issued by the fund, comprises a listed security traded on the stock exchange.

ETFs are index tracking funds, registered as a Collective Investment and can be traded by any stockbroker on the stock exchange or via Investment Plans and online trading platforms. ETFs may incur additional costs due to it being listed on the JSE. Past performance is not necessarily a guide to future performance and the value of investments / units may go up or down. A schedule of fees and charges, and maximum commissions are available on the Minimum Disclosure Document or upon request from the Manager. Collective investments are traded at ruling prices and can engage in borrowing and scrip lending. Should the respective portfolio engage in scrip lending, the utility percentage and related counterparties can be viewed on the ETF Minimum Disclosure Document. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The index, the applicable tracking error and the portfolio performance relative to the index can be viewed on the ETF Minimum Disclosure Document and or on the Satrix website.

Performance is based on NAV to NAV calculations of the portfolio. Individual performance may differ to that of the portfolio as a result of initial fees, actual investment date, dividend withholding tax and income reinvestment date. The reinvestment of income is calculated based on actual distributed amount and factors such as payment date and reinvestment date must be considered.

*Note exchange prices are delayed in accordance with regional exchange rules.South African prices are delayed by 15 minutes; North American prices are delayed by 15 minutes.