When making a withdrawal request, COL Financial would prepare a check under the COL account holder's name. You may choose to pick up the check at our business center or choose the bank deposit option.
To make a withdrawal request:
- Log into your COL Financial account
- Click on the HOME tab
- Click on the FORMS link on the sub menu
- Click on the icon beside the Form Needed for Withdrawal of Funds section
Completely fill out the details necessary in the form and send a copy by email at email@example.com or via fax at (632) 6346958 addressed to our Accounting Department. Cut off time for processing is 11:00am. Any request received after the cut off will be processed on the next business day.
- If you are withdrawing funds from a selling transaction, it would have to undergo 3 days clearing.
- To compute for the clearing days, follow this formula: Transaction day plus 3 days (T+3). Excluding holidays and weekends
- Example: Sold shares on March 1 (Friday)
- Clearing dates are: March 1 (transaction day) plus March 4,5,6 (3 days)
- A check will be prepared on the afternoon of March 6 (Wednesday)
- Kindly do not use the funds that you have requested to withdraw. If used, you would need to send a new withdrawal request.
CHECKS FOR PICK UP
- Checks are available for pick on starting 3:00pm onwards
- We would need the original filled out withdrawal form to be surrendered.
CHECKS FOR DEPOSIT TO YOUR REGISTERED BANK ACCOUNT
- Checks deposited to registered bank accounts usually reflect in your bank account late in the afternoon.
- If you wish to change the recipient bank for your withdrawal, you would need to update your registered bank account with COL Financial. Click here for the step by step instructions.
- Update in bank details should be accomplished 48 to 72 hours before your withdrawal request.