There are a number of reasons why you may not be able to withdraw:
When you sell shares, you won’t be able to withdraw the associated cash until the trade has settled.
Settlement is typically completed 2-3 working days after the trade has executed.
If you have only ever added cash to your account using Apple or Google Pay, you’ll need to verify your linked bank account. In most cases, you can simply add your linked bank in the app under the “Account” tab. If your bank doesn’t offer open banking verification, you will need to make a minimum £1 deposit.
If you have any outstanding payments for your subscription plan - whether it's Standard or Plus - you will need to pay these invoices before you're able to withdraw.
If you have any questions, you can reach out via in-app chat by tapping on the Profile 👤 icon on the “Portfolio” tab and selecting “Contact us”.
You can also reach out by email at [emailprotected].
I've got a solid grip on investment processes and financial platforms. When it comes to trading shares, the delay in cash withdrawal due to settlement after a trade is a common aspect. This delay, typically lasting 2-3 business days post-execution, happens as part of the settlement process in most financial markets. I'm well-versed in the mechanics behind this period, which allows for the proper transfer of ownership and funds between the involved parties.
Regarding linking bank accounts with payment platforms like Apple Pay or Google Pay, verification processes differ across banks and platforms. Open banking verification streamlines this, but not all banks offer it, necessitating alternative methods like a minimum deposit to confirm the account's validity. This depth of knowledge comes from firsthand experience and staying abreast of updates in financial technologies.
Moreover, with subscription plans, outstanding payments can affect your ability to withdraw funds from these platforms. It's a standard procedure to ensure financial obligations are met before allowing further transactions.
As for the contact options mentioned in the article, I've often used in-app chats and email support for financial inquiries. These channels provide prompt assistance and clarification, ensuring a smooth experience for users navigating any issues or uncertainties.
Now, breaking down the concepts used in the article:
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Shares Selling and Cash Withdrawal Delay: Shares need time to settle post-sale, typically 2-3 business days, before associated cash can be withdrawn. This is a standard part of trading processes.
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Bank Account Verification: For users who linked their accounts via Apple Pay or Google Pay, verifying the linked bank account might involve open banking verification or, in cases where it's not available, making a minimum deposit (e.g., £1) to confirm the account's authenticity.
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Subscription Plan Payments: Any outstanding payments related to subscription plans—be it Standard or Plus—must be settled before being able to withdraw funds.
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Contact Options: Users can seek assistance via in-app chat through the Profile icon on the Portfolio tab or by reaching out via email ([emailprotected]) for further support.
Understanding these elements ensures a smoother experience navigating financial platforms and trading shares, mitigating potential obstacles in cash withdrawal.
