When you wish to withdraw funds from your SatrixNOW account, the amount you are able to withdraw will be displayed to you as the 'withdrawable funds' amount on the withdrawal page of the website, as explained in the article below.
1. Ensure you are logged into the SatrixNOW website.
2. Choose the SatrixNOW account from which you want to withdraw the funds, by selecting it from the account ribbon that runs horizontally across the top of the screen, just below the SatrixNOW logo. Remember you have 2 (two) accounts as follows:
SatrixNOWstandard account - SatrixNOW in the account ribbon
- Tax-free Savings account (TFSA) - SatrixNOW TFSA in the account ribbon - PLEASE ensure you understand the consequences of making a withdrawal from a TFSA account before making it - visit this TFSA FAQ article for help.
3. Once you've select the specific account you wish to withdraw funds from, click on the stack menu (3 little horizontal lines) to the left of the SatrixNOW logo - as shown by the arrow in the image below.
Please note that you will only see this menu option if you are logged in to the website.
4. Once the menu structure opens up, click on the "Withdrawal" option, under the 'My Funds' group.
5. This action will take you to the "Withdraw funds" page, on which you will see two important large blocks (as shown in the image below)
- Available funds ( or Investable funds) - displays the total amount of funds available for you to invest on the platform.
- Unsettled Cash - represents the funds that are in the process of being settled as a result of the sale of an investment. Funds from the sale of an investment on the platform take 5 business (working) days to settle. While you can invest unsettled funds on the platform, you cannot withdraw them to your bank account until they are settled
For further details on Unsettled cash - visit this FAQ article What is Unsettled Cash?
Locked funds - represent funds that have come from:
- Debit order - funds paid into your account by debit order are locked up (and therefore not available to withdraw) for a period of 40 days.
- Marketing vouchers - funds in your account as a result of vouchers gifted to you as part of EasyEquities promotional effort are locked-up for a period of 180 days.
- Withdrawable funds - the most important indicator to you on this page, as this is the amount of money you can select to withdraw in your bank account.
6. You now need to instruct us on the amount you would like to withdraw.
If you scroll a little further down the page (to just below the blocks shown in the image above), you will see a cell that allows you to enter the amount you would like to withdraw (as seen in the image below)
7. Type the amount you would like to withdraw into the 'withdrawal amount' cell and then cllick on the large withdraw button to the right of the cell.
Please note: the amount you enter cannot exceed the total displayed as 'withdrawable funds' at the bottom of the 'Available for withdrawal' block above.
8. If successful, you should be taken to a 'withdrawal processed' page confirming that your withdrawal request has gone through.
Please note: A realistic timeframe to expect the funds in your bank account is 2-3 days.
Withdrawal request submissions made on the SatrixNOW site after 14h00 Monday to Friday, as well as on weekends and public holidays will only be queued for processing the following business day so if you want to have any effect on the speed with which they are processed, please make sure you submit your withdrawal request on working days before 14h00.