# 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**: Every withdrawal leaves from your Cash account, whatever account the money started in
- **Processing time**: Withdrawals typically arrive within 1-2 business days

If your money is in an investment account — including your Tax-Free Savings Account — sell your holdings and transfer the proceeds 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 **No holds on your funds** — Some deposits have a hold period before they can be withdrawn (see "Funds on hold" below).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.

| When you request | When it arrives |
| --- | --- |
| Before 4pm on a business day | Next business day |
| After 4pm or on weekends/holidays | 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To prevent fraud, some deposits have a hold period before they can be withdrawn.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.

| Deposit type | Hold period |
| --- | --- |
| Direct EFT deposits | 5 days |
| Debit order deposits | 60 days |
| Referral bonuses | 1 year |

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 to a bank account from an investment account (Tax-Free Savings, Investment Account, Retirement Annuity). To access this money:

### For Tax-Free Savings (TFSA)

TFSA withdrawals follow the same route as every other investment account: sell first, land in Cash, then withdraw.

1. Navigate to your **Tax-free investments** account
2. Tap **Transfer out**
3. Enter the amount to sell from each holding
4. Tap **Review transfer**
5. Tick the box confirming you understand the effect on your lifetime contribution limits, then tap **Transfer**

The sell order is placed with the fund manager. Once settled, the proceeds arrive in your Cash account and you withdraw from there.

> **Important**: Your identity verification must be complete before a TFSA transfer out will go through, because it permanently consumes lifetime contribution room — even though the money only moves to Cash. See [Withdrawing from your TFSA](#uf796dPXt).

### 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. From Cash, you can then withdraw to your bank.

Settlement of a sale typically takes about 6 business days. During that window the money is committed and cannot be transferred again, which is why the app warns you that a transfer out of an investment account "can take a few days to complete". The transaction detail shows the expected settlement date.

### For Retirement Annuities

Under the two-pot system (effective from 1 September 2024), you have limited early access to your RA:

**Savings pot withdrawals**:

- Withdraw from your savings pot once per tax year (March to February)
- Minimum withdrawal: R2,500
- Taxed at your marginal income tax rate
- Requires a valid tax number with no outstanding SARS returns

1. Navigate to your **Retirement annuity**
2. Tap **Transfer out**
3. Confirm your **Tax number** and **Gross monthly salary**, which SARS requires to tax the withdrawal correctly
4. Enter the amount to sell from each holding
5. Tap **Review transfer** and confirm

The review screen shows an **Estimated tax amount** and **Estimated fees** alongside what you're selling. Both are estimates based on the current market price and can change. The proceeds land in your Cash account net of tax and fees, and you withdraw to your bank from there.

**Retirement and vested components** remain locked until retirement age (55+) or specific circumstances like emigration or disability. See [Understanding the two-pot system](#uf796dPXt) for details.

## 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.