Withdraw money from your Wallet | Sharesies Help Centre Australia (2024)

Request a withdrawal

You can only withdraw AUD from your Wallet. You’ll need to exchange US dollars (USD) or New Zealand dollars (NZD) to AUD before making a withdrawal.

Any money in your Wallet from a Gift, referral, or promo needs to be invested before it can be withdrawn.

Processing time

If all the money you’re requesting to withdraw has settled, you should receive the withdrawal in 1–2 business days. It may take longer if we need more info from you (like for security purposes or to comply with any legal or regulatory obligation).

If you’ve recently sold an investment and want to withdraw some or all of the money from the sale, your withdrawal will likely take longer to get to you. Here’s the process that happens before the money reaches your bank account.

Sell order settling and processing (3–4 business days)

Once your sell order fills on market, it becomes a ‘trade’ and must go through a ‘T+2 settlement’ period—this takes two business days. Settlement happens through an intermediary (such as CMC Markets for Australian trades) and is the time it takes for legal ownership and money to be transferred from one shareholder to another.

Once your trade has settled, the money needs to be processed. This involves waiting to receive the money from the intermediary that settled your trade, then making sure the amount matches Sharesies records (a process called ‘reconciliation’). For the Sharesies platform, this process takes between 1–2 business days depending on the exchange your sell order went through. For example, it usually takes one business day to clear and reconcile money from an Australian trade, but it takes two business days for US trades due to the difference in time zones.

Transferring you the money (1–2 business days)

Withdrawals are processed during New Zealand business hours on weekdays. The withdrawal transfer is a regular bank transfer so the time it takes to get to you depends on your bank.

Withdrawal verification

There might be times when we’ll need to verify it’s you who’s making a withdrawal. We’ll send a verification code to the phone number (or email address) registered in your Sharesies account. You’ll need to enter the verification code when prompted before you’ll be able to submit your withdrawal request.