We
\nget a lot of questions about why it takes so long for a balance to appear in Raiz
\naccounts after hitting deposit, so to explain this we thought we\u2019d break this
\nprocess down step-by-step, and how long these steps take.<\/p>\n
<\/p>\n
When
\nyou\u00a0invest\u00a0<\/b>or\u00a0withdraw<\/b>\u00a0with Raiz, we try to
\nmake the process as smooth as possible, from the moment you hit the button, to
\nthe money appearing in your Raiz account or back into your bank account.<\/p>\n
<\/p>\n
When you
\nhit deposit, it should take just 1 to 2 business days\u00a0<\/b>for Raiz to withdraw money from your
\nchosen funding source. \u00a0This is because
\nwe send withdrawal requests once a day to our bank, every business day. If you deposit in your Raiz Investment Account
\nbefore our daily cut-off time (approx. 3.30pm Sydney Time), your bank account
\nwill be debited that same night (and the following night if you deposit is
\nreceived after this cut-off time).<\/p>\n
This can seem longer over a weekend or public
\nholiday. \u00a0<\/b><\/p>\n
The following business day, <\/b>once the withdrawal
\nrequests are processed, we invest that money, buying the shares for your
\ninvestment (this is also done only once a day as outlined in the Product Disclosure
\nStatement at around midday Sydney Time). As soon as that money has been
\ninvested, the value of your investment should be reflected in your Raiz Investment
\nAccount balance.<\/p>\n
<\/p>\n
When
\nyou\u00a0withdrawfrom your Raiz Investment Account, we will
\nexecute that withdrawal within\u00a01 business day.\u00a0<\/b>We sell the
\nrelevant shares for that investment once a day again. \u00a0If your
\nwithdrawal request is received after 9.30am Sydney time, your ETFs will not be
\nsold until the next business day.<\/b><\/p>\n
Due
\nto the rules of buying and selling shares on the ASX, it takes\u00a02
\nbusiness daysfor us to receive payment for your withdrawal. Once
\nreceived, Raiz transfers the withdrawal amount straight to your chosen funding
\nsource, which can take\u00a01-3 business days depending on your bank.<\/p>\n
This
\nis why you can expect withdrawals to come back to your account in\u00a05 business days.<\/p>\n
We <\/p>\n <\/p>\n Important Information<\/strong><\/span><\/p>\n The information on this website is general advice only. This means it does not consider any person\u2019s investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the Raiz product.<\/p>\n The information in this website is confidential. It must not be reproduced, distributed or disclosed to any other person. The information is based on assumptions or market conditions which change without notice. This will impact the accuracy of the information.<\/p>\n Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz.<\/p>\n Past return performance of the Raiz product should not be relied on for deciding to invest in Raiz and is not a good predictor of future performance.<\/p>\n","protected":false},"excerpt":{"rendered":" We get a lot of questions about why it takes so long for a balance to appear in Raiz accounts after hitting deposit, so to explain this we thought we\u2019d break this process down step-by-step, and how long these steps take.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1],"tags":[],"yst_prominent_words":[]}
\nwant this process to be as painless as possible for you, if you have any
\nfurther questions or concerns we encourage you to contact us at\u00a0support@Raizinvest.com.au<\/a>\u00a0or
\ncall us on 1300 754 748. For more information on Raiz fees, click here<\/span>.<\/a><\/p>\n
\n