Withdrawals

What is a withdrawal?

A withdrawal moves money from your Fynbos Cash account to your personal bank account. This is how you access your money when you need it outside of Fynbos.

• Bank account required: Withdrawals go to a linked and verified bank account

• From Cash only: You can only withdraw from your Cash account directly

• Processing time: Withdrawals typically arrive within 1-2 business days

If your money is in an investment account, you'll need to sell your holdings and transfer to Cash first.

Requirements for withdrawing

Before you can make a withdrawal, you need:

1. A verified bank account — Your bank account must be linked and verified in Fynbos. You can check your bank account status in Settings > Bank accounts.

2. Available balance in Cash — Withdrawals come from your Cash account. If your money is elsewhere, transfer it to Cash first.

3. No holds on your funds — Some deposits have a hold period before they can be withdrawn (see "Funds on hold" below).

Important: Your bank account must support receiving credits. Some accounts (like certain business accounts) may not accept incoming payments. If your bank account shows "Withdrawals not supported", you'll need to link a different account.

Making a withdrawal

To withdraw money from your Cash account to your bank:

1. Open your Cash account from the home screen

2. Tap Withdraw

3. Enter the amount you want to withdraw

4. Select which bank account to receive the funds

5. Tap Review withdrawal

6. Review the withdrawal details and estimated arrival date

7. Tap Withdraw to confirm

Your withdrawal is now processing. You'll see the estimated arrival date on the confirmation screen.

Processing times

Withdrawals are processed via EFT (Electronic Funds Transfer) and typically arrive within 1-2 business days.

The app shows you the expected arrival date before you confirm. Bank processing times may vary slightly depending on your bank.

Funds on hold

To prevent fraud, some deposits have a hold period before they can be withdrawn. During this time, the money appears in your balance but isn't available for withdrawal.

When you start a withdrawal, the app shows your available balance (excluding held funds). If you have funds on hold, you'll see this displayed separately.

Withdrawing from investment accounts

You cannot withdraw directly from investment accounts (Tax-Free Savings, Investment Account, Retirement Annuity). To access this money:

For Tax-Free Savings (TFSA)

TFSA withdrawals must be paid out directly to a bank account. This is a regulatory requirement.

1. Navigate to your Tax-Free Savings account

2. Tap Withdraw

3. Enter the amount to sell from each holding

4. Select your bank account

5. Tap Review withdrawal and confirm

The sell order is placed with the fund manager. Once settled (typically 2-3 business days), the money is paid directly to your bank account.

Note: If you want to move money between Fynbos accounts rather than withdraw, contact support. TFSA transfers work differently than regular withdrawals.

For Investment accounts

1. Navigate to your Investment Account

2. Tap Transfer out

3. Enter the amount to sell from each holding

4. Tap Review transfer and confirm

This sells your holdings and transfers the proceeds to your Cash account once settled (typically 2-3 business days). From Cash, you can then withdraw to your bank.

For Retirement Annuities

Retirement Annuity funds cannot be withdrawn before retirement age (55+). These accounts are designed for long-term retirement savings with tax benefits that come with withdrawal restrictions.

Adding a bank account

If you need to add or change your bank account for withdrawals:

1. Go to Settings > Bank accounts

2. Tap Add bank account

3. Enter your bank details and verify

Bank account verification may take 1-2 business days. Once verified, you can use it for withdrawals.