Withdrawn funds will be received based on three (3) factors:

1. Your selling date

2. Your request date

3. Your preferred settlement option


SELLING DATE

If you have just sold your stocks, you would need to wait two (2) business days after your selling date before the withdrawal request can be processed. This settlement period is called (T+2). For mutual fund selling transactions, once the funds would reflect in your PORTFOLIO, you may request for its withdrawal already. 


Example 1: If you sold your shares on Monday - we will process your withdrawal request on Wednesday

Example 2: If you sold your shares on Thursday - we will process your withdrawal request on the following Monday


REQUEST DATE

To process withdrawal requests, our Withdrawals team has a cut-off processing time. The cut-off time is 7:00 am. Any withdrawal requests submitted after their corresponding cut-off periods will be processed the following business day.


PREFERRED SETTLEMENT OPTION

Clients can choose between the following:


Option 1: Check to be deposited to a registered bank account

From experience, funds usually reflect from 4:00 pm to 7:00 pm on the day of the check deposit. 


*Check deposits to AUB, BDO, BPI/ BPI Family, Chinabank, Metrobank, PNB, Security Bank, and Unionbank will clear on the same day, while deposits to other banks will clear within 1 to 2 banking days. 


Option 2: Check will be picked-up at COL's Business Center in Pasig City

Check will be available for pick-up at 3:00 pm on the processing day and anytime during business hours of the following days.


Example 1: Stocks were sold on Monday and Client submitted the withdrawal request before 7:00 am on Tuesday and will pick up the check

The withdrawal request will be processed after 7:00 am on Wednesday. Check will be available for pick-up starting at 3:00 pm on Wednesday.


Example 2: Stocks were sold long ago and Client submitted the withdrawal request after 7:00 am and the registered bank is BDO

Withdrawal request will be processed the following business day after 7:00 am and the check will be deposited to BDO after processing. From experience, funds usually reflect from 4:00 pm to 7:00 pm on the day of the check deposit.