Closing an investment account

Before you close an Investment Account

Closing an Investment Account is permanent and cannot be undone. Before proceeding, consider:

• Do you still need the account? If your goals have changed, you can rename the account or adjust your investment strategy instead.

• Do you have holdings to sell? Any investments must be sold and transferred to your Cash account before you can delete the account.

• Are there automation rules? Rules linked to this account will be deleted permanently.

Unlike Savings pots, Investment accounts hold fund units that must be sold before the account can be closed. This process takes a few days to complete.

Step 1: Sell all your holdings

Before closing your Investment Account, you need to sell all your holdings and transfer the proceeds to your Cash account.

1. Navigate to your Investment Account from the home screen

2. Tap Transfer out

3. Enter the full amount for each holding you want to sell

4. Tap Review transfer

5. Review the transfer details showing your holdings being sold

6. Tap Transfer to confirm

Your sell orders are now placed with the fund managers. Settlement typically takes 2-3 business days.

Important: You must sell all holdings in the account. If you have multiple funds, enter the full value for each one. Any remaining holdings will prevent you from deleting the account.

Step 2: Wait for settlement

After placing your sell orders, you need to wait for the transactions to settle before closing the account.

• Settlement time: 2-3 business days

• Pending transactions: You'll see pending transactions in your account during this time

• Balance updates: Your Cash account balance increases once settlement completes

You can track the status of your sell orders in your transaction history. Once all transactions show as completed and your Investment Account balance is zero, you can proceed to delete the account.

Step 3: Delete the account

Once your Investment Account balance is zero and all transactions have settled, you can delete the account from account settings.

1. Navigate to your Investment Account from the home screen

2. Tap the settings icon in the top-right corner

3. Tap Delete account at the bottom of the settings page

4. Review the confirmation message

5. Tap Delete to confirm

Your Investment Account is removed from your home screen immediately.

Note: If your account still has a balance, you will see a message explaining that you need to transfer your funds out before you can delete the account.

What happens to your money

When you close an Investment Account, your money follows this path:

1. Holdings sold: Your fund units are sold at the current market price

2. Proceeds to Cash: The sale proceeds transfer to your Cash account after settlement

3. Account deleted: Once empty, the Investment Account is deleted

You don't lose any money during this process. Your full balance, including any gains or losses, is preserved and moved to Cash. From there, you can withdraw to your bank or transfer to another account.

Automation rules are removed

If you have automation rules that distribute money to this Investment Account, those rules are deleted when you close the account.

• Percentage rules directing a portion of deposits to this account are removed

• Amount rules sending a fixed amount to this account are removed

You'll see a warning on the delete confirmation screen if any automation rules are linked to the account.

After closing the account, review your automation rules to ensure your deposits are still distributed as you expect.

Timeline for closing an account

Closing an Investment Account is not instant. Here's what to expect:

Plan ahead if you need to close your account by a specific date. The settlement process cannot be expedited.